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SAARC meet ends on happy note of Indo-Pak detente
The Ninth South Asian Association of Regional Cooperation summit yesterday expressed satisfaction over the meeting between Prime Minister I K Gujral and his Pakistani counterpart Nawaz Sharif to forge good neighbourly relations. This summit broke new grounds in regional cooperation by declaring its intention to implement the South Asian Free Trade Area by 2001.
Parties pillory Joginder for CBI's Bofors leaks
All the MPs in the Lok Sabha agreed on issue of the impropriety of Central Bureau of Investigation Director Joginder Singh's for leaking information about the chargesheet in the Rs 64 crore Bofors pay-off case to the media. They argued that the Parliament should be informed about the latest stage of investigation, and that the CBI should not rush to the Press.
Broadcasting Bill not to insist on use of Indian satellites
Despite considerable lobbying by the country's space establishment, the Broadcasting Bill, when it is introduced in Parliament on Friday, will not demand that all foreign networks use only Indian satellites for broadcasting. Neither will it insist that all foreign networks have to register with the Indian Space Research Organisation to downlink.
PM may scale down SPG cover
The entire gamut of SPG (Special Protection Group) operations will be reviewed at a special meeting convened by Prime Minister I K Gujral. The agenda would focussed on to grade threat perceptions to VIPs so as to rationalise the deployment of SPG personnel and resources because of the frequent change of Prime Ministers in recent years.
Kesri berates CBI chief to save his skin
Congress president Sitaram Kesri has now decided to use the Bofors card to counter the possibility of his detractors using the Sonia card to mar his prospects to retain the party's top post. Though 10 Janpath has loudly disclaimed plans of Sonia taking over the leadership of the party, her increasing importance among the Congress circles has rattled the Kesri camp.
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IDBI to offer 11% on 1-year deposits
The Industrial Development Bank of India (IDBI) has taken the lead in floating one-year term deposits following Reserve Bank of India's decision to allow financial institutions to raise short-term resources. The IDBI will offer 11% interest on its one-year fixed deposits. The IDBI interest rate is comparable with that of State Bank of India.
Broadcast bill to be moved on Friday
The government will introduce a bill in the Lok Sabha on Friday seeking to establish autonomous Broadcasting Authority of India for developing, promoting, facilitating and regulating broadcasting services in the country. All leading democratic countries have enacted the law regulating broadcasting media and the Broadcasting Bill is a step in this direction.
Centre spells out stand on fuel allotment
The Union petroleum ministry has decided to dig in its heels over its liquid fuel allotment policy. It has written back to the Union ministry of power, saying that the liquid fuel allotment should be within the sanctioned limit of 12,000 mw, ending weeks of inter-ministerial haggling and subtle manoeuvres by state governments and interest groups.
3 FIIs initiate dematerialisation move
Three top US-based financial powerhouses - Morgan Stanley, Jardine Fleming and Templeton - have kicked off an exercise to dematerialise part of their holdings. The three FIIs are believed to have commenced a due diligence exercise to determine the extent to which they should dematerialise their holdings following the clearance given by the Securities Exchange Commission.
BHEL plans Rs 1,000 cr debt mop-up
Bharat Heavy Electricals Ltd is gearing up to raise Rs 1,000 crore through short and long term debt instruments to fund financial requirements of cash-strapped public sector undertakings through borrowed funds likely to be handled by SBI Capital Markets. The undertakings include IRFC, state electricity boards and power sector projects.
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