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Laloo runs into fresh trouble
Bihar minister for land reforms and revenue, Inder Singh Namdhari, yesterday pulled off a fresh crisis for beleaguered Chief Minister Laloo Prasad Yadav by resigning from the State Cabinet responding to "an appeal of conscience".
Waves of despair after shock
The full moon spread an eerie white shroud over what were villages and townships bursting with life on Thursday night. People sat outside their shattered homes, huddled together in groups, letting the full impact of the tragedy sink in gradually. They talked through the night about how painstakingly they had built up their homes and hearths.
Consensus tune dims Pilot's chances
Rajesh Pilot's bid to become the Congress president has run into its first hitch. Congress president Sitaram Kesri's political managers have claimed that efforts to evolve a consensus for the Committee would continue despite the announcement of Pilot's candidature.
Delhi High Court quashes petition on patents
The Delhi high court has dismissed a public interest litigation alleging inefficiency on the part of government to decide grant of patents resulting in piling of thousands of applications at various places.
A `lightweight' Gandhi aspires to occupy President's chair
In the dog-eat-dog milieu that prevails today, Sumitra Gandhi Kulkarni, grand-daughter of Mahatma Gandhi, is pinning her hopes of making it to Rashtrapati Bhavan on one simple presumption -- that the era of heavyweights is past. The unexpected candidates have made it to the top simply because the heavyweights set out to cancel each other.
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RBI to prepare safety net for CRB FD holders
Union finance minister P Chidambaram has directed Reserve Bank governor C Rangarajan to put together a safety net for fixed-deposit holders of CRB Capital Markets. He has also been asked to tighten guidelines for non-banking finance companies (NBFCs) to ensure that such episodes do not recur.
CBI questions former SBI chairman
The Central Bureau of Investigation questioned former SBI chairman M K Sinha as part of its ongoing probe into the CRB Capital markets scandal. It is alleged that Sinha, after his retirement from the SBI, was instrumental in introducing C R Bhansali to the bank. The CBI has also sought the help of chief vigilance officers of all banks to report any fraud or Bhansali's dealings with their respective banks.
Tisco falls prey to MAT; other income props bottomline
A sharp fall in the prices of major products and a Rs 73 crore tax provision have taken the sheen out of Tata Steel's bottomline. The company's net profit during 1996-97 has dipped by Rs 96.58 crore to Rs 469.21 crore, down from Rs 565.79 crore in the previous year.
Special police team to probe muddle
The Mumbai police have set up a special team led by deputy police commissioner of Economic Offences Wing (EOW) to investigate into the CRB Capital Markets collapse. Joint commissioner of police R S Sharma has said that the team would comprise an assistant commissioner of police, a senior inspector and four inspectors.
UTI MMMF yields 9.51%
UTI's Money Market Mutual Fund (MMMF) has managed to beat the 30-day fixed deposit rate of banks by a good 2.5 - 3% at the end of the first lock-in period of 30 days since its launch. On Friday, the NAV was Rs 10.07 and the annualised yield 9.51%.
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