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Panel to sort out pay grievances
Stung by all-round criticism of the Fifth Pay Commission report, the Union Government has constituted an officials' committee to examine the lacunae in the report and suggest remedies.
HC reprieve for Laloo, no arrest yet
The Patna High Court (HC) has asked the Central Bureau of Investigation (CBI) not to arrest Bihar Chief Minister Laloo Prasad Yadav in the fodder scam case till the completion of hearing on his anticipatory bail application.
Fiat earmarks $1 bn for ventures in India
Fiat International has earmarked an investment of $1 billion in the next five years (1997-2002) for its present and future joint ventures being planned in India.
Mamata firm on parallel meet
Congress rebel Mamata Banerjee yesterday made it clear that she wasn't about to change just yet. At a huge rally yesterday, she announced her determination to go ahead with her plans of organising a parallel rally to coincide with the All India Congress Committee (AICC) plenary session on August 9.
RBI to shift DFC office to Mumbai
The Reserve Bank of India has decided to shift the headquarters of the department of finance companies (DFC) from Calcutta to Mumbai. The proposal has been in the offing for some time now, and was pushed through since the department has been headless from April 1 this year.
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Fujitsu in talks to buy RPG stake in joint venture with ICIM
The Japanese company Fujitsu is negotiating with RPG Enterprises to buy a major portion of the latter's 30% stake in Fujitsu ICIM Ltd. This would enable Fujitsu to hike its stake to over 45% in the company.
BHEL order books dull as IBRD pulls out of power plans
The order books of Bharat Heavy Engineering, the public sector major which experienced an astronomical growth in its order bookings over the last two years, have shown practically no growth in the current fiscal, following the World Bank's decision to stop allocating fresh funds for power projects in India.
State-run banks take deeper plunge into consumer financin,
With non-food credit offtake failing to take off, public sector banks are taking the plunge into consumer financing, including housing finance. A clutch of nationalised banks, led by State Bank of India, has started aggressively marketing consumer financing schemes from this month.
SBI Caps bags mandate to scout for Daewoo power plant funds
Daewoo Corporation has given the go-ahead to SBI Capital Markets to begin discussions with financial institutions (FIs) to raise around Rs 1,000 crore for its planned 1,070mw coal-based power plant in Madhya Pradesh. The project is expected to cost Rs 4,700 crore.
ONGC seeks nod for overseas help to assess Neelam reserves
Oil and Natural Gas Corporation (ONGC) has sought permission from the Union ministry of petroleum and natural gas to offer Neelam field to any international company which can help alleviate the reservoir problem and increase production.
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