Deliver the long overdue
RBI long awaited guidelines for private banks have proved to be a damp squib. Though they do have some ositive features such as doubling minimum start up capital requirement to Rs 200 crores and permitting corporates to hold up to 10% equity in banks.

Delay in Convergence Bill
Permission for the entry of the fourth cellular operator in each circle comes as a New Year's gift to industry. Not so much by the announcement itself, but by ensuring that there are few loopholes and that the process has a measure of transparency about it.

Flight to the future
Country set out in 1983 to build a front rank, multi-role, supersonic fighter aircraft for the future. Foreign collaboration was not deemed necessary to build the Light Combat Aircraft (LCA), projected to serve as the backbone of India's fighter fleet.

Death of badla -- A `Blessing' in disguise
Reforms in the Indian capital market have out-stripped ever other segment of the economy, and events of last week only confirm that it is competitive forces which are now driving the process of change and increased efficiency.

The outlook for 2001-02
Unscheduled action by the US Federal Reserve of cutting the federal fund target rate by 50 basis points to 6% has encouraged some comment about lower interest rates here at home. We should rapidly disabuse ourselves of such notions.

eavesdropper
Today, the company which recently launched Aaj Tak, a Hindi news channel, received a letter from an unhappy viewer: it wasn't just another letter and it certainly wasn't just another viewer. It was the Prime Minister Mr A B Vajpayee.