|
CBI to name Rajiv as Bofors case prime accused
Former Prime Minister Rajiv Gandhi has been named as the prime accused in the proposed chargesheet relating to the Rs 1,437-crore Bofors gun deal. Although Rajiv Gandhi cannot be prosecuted as he was assassinated, the proposed chargesheet holds him guilty of hatching a conspiracy to cause willful loss to the state exchequer and allowing middlemen to make money.
Govt to ignore Hazare
The Maharashtra government is trying its best to ignore the indefinite hunger strike launched by social worker Anna Hazare. Chief Minister Manohar Joshi's cabinet members expressed the view that the alliance government should not succumb to the pressure tactics of the anti-corruption crusader.
PM evasive on J&K working group
Prime Minister I K Gujral ruled out any immediate troops reduction in the militancy-infested Jammu and Kashmir, asserting that "the army is there in response to a situation and will continue to be there till the situation warrants." Referring about the proposed setting up of working groups with Pakistan, PM asserted that the countries would meet in June.
State nod for stake in Enron project
The uncertainty over the Maharashtra State Electricity Board's 30% equity stake in the Dabhol Power Company as per the renegotiated Power Purchase Agreement has been removed by State Chief Minister Manohar Joshi. The government proposed to raise Rs 600 crore through a bond issue to partly finance the power project.
President by consensus most likely
Confabulations among the senior leaders belonging to various political parties for electing President of India and Vice President in July and August respectively began with majority of them favouring a consensus approach. It was felt that the president should be from a down-trodden class and the Vice-President should either be a woman or a highly educated person.
|
All SBI arms to tap market this year
The 7 associate banks of State Bank of India have drawn up plans to tap the capital market this fiscal even though the Centre has failed to amend the SBI (Subsidiary Banks) Act. The associate banks, which have been finding it difficult to expand business because of capital constraints, were keen on changes in the Act, which restricts shareholdings by individuals to 200.
Gujral calls meet tomorrow to end oil price uncertainty
Prime Minister I K Gujral has called a meeting of finance minister P Chidambaram and minister of state for petroleum T R Baalu yesterday to discuss an oil price hike and a possible cut in excise and customs duties on petroleum products. Gujral is expected to settle the conflicting views taken by the petroleum and finance ministries on the the issue of duty cuts.
State cabinet okay for MSEB to pick up 30% in Dabhol
The state cabinet finally gave its go-ahead to Maharashtra State Electricity Board to acquire a 30% stake in Dabhol Power Company by June 9. Chief Minister Manohar Joshi stated that a separate company under the Special Purpose Vehicle Act would be formed soon to raise Rs 600 crore through a private placement of bonds.
General Insurance Jan Arogya Bima policy comes a cropper
The General Insurance Corporation's (GIC) Jan Arogya Bima policy medicare for the common man -- has flopped. Union finance minister P Chidambaram had announced the policy while presenting the 1996-97 budget. All four GIC subsidiaries New India Assurance, United Insurance, Oriental Insurance and National insurance have managed to mobilise just Rs 1.85 crore.
Securities validation plan faces uphill task
The securities validation & guarantee programme, proposed to be introduced by SignAssure Services (India) Ltd, a joint venture of the Deepak group of companies and Kemark Marketing Group of the US, faces the uphill task of convincing insurance companies to provide cover for all participants and transactions under it.
|
|
