Reserve Bank lets loose strings on finance companies' deposit mopup
The Reserve Bank of India (RBI) has further relaxed deposit-taking norms for the non-banking financial sector. The central bank has allowed leasing and hire-purchase companies without credit ratings to access public deposits up to 1.5 times their net owned funds (NOF) or Rs 10 crore.

New telecom policy lays down blueprint for Telecom Funding Corporation
The new telecom policy envisages the creation of a specialised financial intermediary, Telecom Finance Corporation, for promoting investment and meeting finance needs of the telecommunication industry.

SEBI re-opens lid on Saurashtra Cement preferential issue
The Securities & Exchange Board of India (SEBI) has reportedly taken up the controversial preferential allotment of equity by Saurashtra Cement, and met representatives of the target company, Saurashtra Cement, and the raider, the Autoriders group.

CORPORATE
Satyam Infoway unveils Internet service in Mumbai
IPCL Nagothane polyethylene plant achieves target

ECONOMY
Weigh progress before second phase of financial reforms, says Rangarajan
Core sector needs $200 bn, says IIF

EXPRESSIONS
South Indian Bank makes dismal debut on bourses
Take time out to see what the stars foretell

MARKETS
Operations at Jaipur Stock Exchange come to a halt
KCSL investors get exit opportunity

LEISURE
Online business to hit $1.3 tln in 2003
A Viagra by an ayurvedic name is just as good