PSU staff to get 5 years wages under VRS
Finance minister Yashwant Sinha has said that the new voluntary retirement scheme would give large benefits to PSU. He said under the VRS scheme, PSU workers completing 30 years of service would be offered 60 days wages for every year of service. This would work out to five years of wages.

Special margins stem Sensex slide
A SEBI directive to impose special margins on short sale positions saw the Sensex bouncing back after plunging 128 points earlier in the day. However, SEBI chairman DR Mehta has ruled out any payment crisis on the stock exchanges.

ICICI can buy back 20% of debt papers in global markets
The Reserve Bank of India (RBI) has allowed the Industrial Credit & Investment Corporation of India (ICICI) to buy back 20% of its own debt papers in the international markets. RBI's permission to allow ICICI to buy only 20% of total paper may act as a cap for other two institutions - Industrial Development Bank of India and Industrial Finance Corporation of India - which are interested to buy back their papers from international markets.

CORPORATE
PFC seeks full-flegded financial-institution status
KEC net dips to Rs 28.68 crore

ECONOMY
Phdcci seeks executive powers for tourism board
Maharashtra seeks more liquid fuel-based power projects

EXPRESSIONS
Receive a gift and pay income tax
UTI's financial ability under a cloud

MARKETS
How FIIs ride clever boom-bust cycle and pocket rich dividends
SEBI chief, finance ministry take stock of market movement

LEISURE
Laws aren't delivering; take a fresh look
Customers look for satisfaction in credit cards