Indian Bank board faces the axe
The Union government may consider a recast of the Indian Bank board even as closure or merger of the Chennai-based public sector bank have been ruled out.

Telco seeks finance ministry approval to buy back part foreign currency bonds
The Tata Engineering & Locomotive Company (Telco) has sought approval from the finance ministry to repurchase some of its outstanding foreign currency bonds as part of a broad strategy to reduce its cost of funds.

Fiscal deficit should come down to 5% in medium term -- Sinha
The gross fiscal deficit of the centre and state governments taken together is estimated at about eight per cent of the GDP in 1998-99. A reasonable medium-term target would be to bring this down to five per cent of the gross domestic product.

CORPORATE
Hold on to Apollo Tyres, Ceat; keep away from Dunlop
ITDC slips into the red; posts Rs 8.96 cr loss in Q1

ECONOMY
Spices Board to stress on development of organic farming to increase exports
Leather garments exports dip 13% in '98-99

EXPRESSIONS
No banking recovery
Power to refuse free transfer of shares

MARKETS
PMO meet today on steel floor price
DSE likely to slap winding-up notices on Onida group firms

LEISURE
Applicability of income-tax laws on earnings of foreign companies
Doordarshan revs up to take on competition