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YTM crash to see state-run bank bottomlines bloat
The bottomlines of the State Bank of India, Bank of India, Punjab National Bank, Bank of Baroda and the oldest private bank -- Vysya Bank -- are set for a big boost following the crash in yield-to-maturity (YTM) of dated government securities over the last few days. Banks are allowed to write back excess provisioning on account of lower YTMs.
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European Commission defers norms for HPS groundnut exports
The European Commission has postponed the clearance of the proposed restrictive legislation intended to make stringent the norms for import of HPS groundnuts from India and other groundnut-producing nations. Further, the proposed legislation on EC Commission's new sampling plan has also been postponed.
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Cellphone firms feel the heat as taxmen call shots
Cellular phone sales in the country have stagnated over the past few months, ever since the income-tax authorities put them down as a criteria to identify income-tax assessees. Cellular networks have seen a flat sales with the subscriber numbers showing infinitesimal growth. And most attribute this to the "income-tax syndrome".
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Chamber moots greater flexibility in NPA norms
The Indian Merchants Chamber (IMC) has called for more flexibility in the application of the non-performing asset (NPA) norms in the recession-hit industries like paper, cement, sugar, newsprint, bulk drugs, chemicals and synthetic fibres. This is part of the supplementary suggestions made by the body to the Narasimhan Committee on the banking sector reforms.
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Litigation rises as rentals, deposits crash in Mumbai
The boot is now on the other foot. With rentals in prime commercial areas of Mumbai crashing by 20%-30% and security deposit rates dwindling, landlords are unwilling to let lessees vacate their premises, leading to reverse litigation by the latter to get back their locked-up funds.
Southern allies dominate BJP ministry
Tamil Nadu appears to have got more than its due share of representation in the BJP-led colaition ministry, thanks largely to the crucial role that Jayalalith's AIADMK has had to play in its formation. The state has got seven ministers, four cabinet and three ministers of state (MoS).
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 Executive Briefing
China rules out yuan devaluation, will back Hong Kong dollar
US pushes environment, labour in trade talks
World Briefing
Indonesia's Telkom outlook seen gloomy
Swadeshi Jagran Manch seeks disclosure of pacts with MNCs
Manohar Joshi denies `politically motivated' corruption charges
Court restrains state from funding co-operative sugar, spinning factories
Forwards crash, gilt prices rocket on bank-rate cut
"Sectoral FDI blocks may be counter-productive"
Two persons held for assault on engineers
Now, risk cover for cricketers
Ready-made garments may not reach export target
A swearing-in with a difference
World Bank hopes new government will go steady on reforms
Industry upbeat on Swadeshi
Reforms to be reformed, says Vajpayee
It's a perfect blend
Tea firms keep fingers crossed on imports
Move afoot to fix a new benchmark price for natural rubber
Strike at Venezuela's aluminum plant nears end
Buy BILT, but keep stop lossat Rs 25-27
BJP-led coalition ministry sworn in; Yashwant gets finance, Advani home
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