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Politics Business Expressions General Sports Leisure States 22 February 1998   Short-term deposit rates to fall Several public sector banks are likely to reduce the short-term deposit rates which were suddenly hiked to as high as 12.5% to mop up additional funds. The hike in short term deposit rates for deposits ranging from 30 to 90 days is learnt to be an aberration and may be rectified soon.   Skindia GDR index gains 5% The GDR market saw a lot of volatility in the ITC counter, with the GDR touching a new high on February 17 as against its underlying shares in the local market. The Skindia GDRs index closed at 887.81 recording a 5.33% increase against last week's close of 842.92. KOEL advances shoot up by Rs 130 cr in 1 year Kirloskar Oil Engines (KOEL), belonging to Pune-based Kirloskar group, has sought shareholders' permission to go for an institutional loan of Rs 25 crore at a time when the company has been making liberal advances. Total loans and advances of KOEL to group companies shot up by Rs 130 crore to Rs 172 crore as on March 31, 1997 from Rs 42.68 crore in the previous year. GTB proposes $10 m loan The Global Trust Bank (GTB) has proposed to raise Rs 39 crore Tier II capital from the International Finance Corporation (IFC), through a $5 million unsecured subordinate debt and anotehr $5 million by way of a convertible loan through preferetial allotment of equity to the multilateral funding institution.   Alcan against selling 34.6% stake in Indal Alcan, the Canadian aluminium giant and 34.6% owner of Indian Aluminium Co -- 20% of whose stake Sterlite Industries has just made a daring open offer -- has dissociated itself from the open offer floated by Sterlite. Cholamandalam posts small rise in net profit Cholamandalam Investment & Finance Company has posted a net profit of Rs 10.23 crore for the half-year ended December 31, 1997, indicating a marginal rise over the net profit of Rs 10.03 crore during the corresponding period in the previous year.     EOUs losing charm   ED arrests Bajoria   Recession may also hit Imtex   NRIs not happy with bank services   Rs 500 cr bank exposure to S-E Asia   Chelliah moots medium-term budget   Indians face tough times in Kuwait   Sony warns vendors   Panels against industry using forest land   Self-regulatorybody mooted forleasing firms   Syndicate, Punjab & Sind move triggers interest war   Ministry delays appointment of senior BEML official   Govt plans apex board, common balance sheet for IA, AI   Onions make farmers cry too   BIZBITS   BIZBITS