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Drumbeat: Ad Buzzaar
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| Monday, July 13, 1998
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The triumphant French team after winning their first World Cup having defeated Brazil 3-0 |
Jain `spares' Tamils but says Karunanidhi should've been questioned
The interim report of the Justice M.C. Jain commission created a storm and ended a government. A few months later, Justice Jain has made a turnaround and has backtracked on some of his controversial comments. A brief chapter in the final report titled `Deep nexus with Tamils' shows the the volte-face on the support for the LTTE in Tamil Nadu. Jain had asserted in the interim report that the assassination of former Prime Minister Rajiv Gandhi would not have been possible without the "active connivance and support of the Tamils of Tamil Nadu." He now says that the expression "deep nexus" was meant for "very few" and not the entire Tamil population.
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New Land Act hit at its foundation
The Union Government's housing reforms may have to wait as the Bill repealing the Urban Land Ceiling Regulation Act (ULCRA) has been referred to the Parliamentary Standing Committee on Urban Affairs. The Government referred the Bill to the Committee last week, apparently after over 60 MPs, cutting across party lines, submitted a memorandum to the Prime Minister in this regard. The MPs had demanded that the Bill should not be passed in a hurry and should be referred to a standing committee for "a detailed and objective examination."
Penalty on premature withdrawal of NRI deposits may be waived
The Reserve Bank of India has decided to allow banks to waive the penalty on premature withdrawal of NRI deposits. A directive to this effect will be issued to commercial banks in the next few days. The banking industry has interpreted the move as a step to ensure the success of the proposed Resurgent India Bond, scheduled to be launched on August 5. The waiver will be offered to those NRI depositors who wish to make premature withdrawals of FCNR(B) deposits to shift to five-year Resurgent India Bonds being floated by the State Bank of India.
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