The draft MoU is to extend the life of the present MoU which is expected to expire on September 30. Bombay House officials declined to comment on the talks. A statement would be issued by Karnataka government and the Tatas tomorrow. The Tatas had walked out of the airport project at Devanahalli with their consortium partners Raytheon of US and Changi Airport of Singapore following delay in government clearances.

Banks to do business on Sept 30

MUMBAI: The Reserve Bank of India has said that all its offices in the city would conduct normal business, including clearing operations, on September 30. All commercial banks, regional rural banks and urban co-operative banks will also keep their branches open for two hours on Wednesday declared as half-yearly closing day.

The RBI had asked banks to keep their branches open to customers and public for two hours to obviate the inconvenience caused on account of a number of consecutive holidays in September-October. Bankswill be closed on October 1 and 2 on account of festivals. Normally banks are closed for public dealings on September 30 but this year the banks' half-yearly closing of accounts has fallen on different dates in states between September 26 and 30, the RBI said in a release.

Drug export

NEW DELHI: The government has stopped issuing ``no objection certificate (NOC)'' for export of new molecules for drugs and has referred the case to the law ministry for examining the legality of such exports under the Drugs and Cosmetics Act. The matter came to light following the export of Sildefil citrate, the active ingredient for the anti-impotency pill ``Viagra'' by domestic pharmaceutical companies.

Deputy Drug Controller General of India A B Ramteke said that the Drugs and Cosmetics Act which governs the pharma industry does not have any specific provision for allowing such exports. The domestic pharma companies have been manufacturing and exporting new molecule for sale outside the country even when thedrug or molecule did not have the approved marketing right to be sold in the domestic market.

After procuring the NOC from the central drug authority, the manufacturer approaches the state drug authorities for a manufacturing certificate to the company to meet its export orders.

As exports were carried out without any specific provision in the act, the matter came to light when a multinational pharma company drew the attention of the Ministry of Commerce towards this practice, health ministry sources said.

Major pharma companies like Ranbaxy Laboratories, Dr. Reddy's Laboratory, Sun Pharmaceuticals Ltd., Wockhardt, Cipla and Orchid, which have been carrying on exports of new molecules for drugs, are likely to be affected by the government's decision.