Indian team in Kandahar for talks with hijackers
New Delhi: A team of Indian officials reached Kandahar in Afghanistan on the evening of 27 December to hold negotiations with the hijackers of the Indian Airlines aircraft captured by them mid-air on Christmas-eve and taken to Kandahar. The hijackers had earlier set the deadline at 1.40 p.m. Indian Standard Time 27 December to start killing hostages.

Official sources said the hijackers comprised four Pakistanis, a Nepali and an Afghan national. The Taliban authorities, who are camping at the airport, said they would arrange to storm the hijacked aircraft if the hijackers started killing the passengers.
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DoT framing guidelines on long distance services
New Delhi: The department of telecommunications is in the process of finalising guidelines for the opening up of the long distance services for private operators. This follows the recommendation of the Telecom Regulatory Authority of India to allow private participation in this sector. The government is likely to take a decision in the matter on the basis of DoT's suggestions before 15 January 2000.
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Dena Bank cuts lending rates
Mumbai: Dena Bank is reducing its short-term and long-term lending rates with effect from 1 January. The bank wants to have a better asset portfolio. The bank will, however, not reduce its deposit rates. The short-term rate will be 12.25 per cent, while the rate for long-term loans will be 12 per cent. Earlier, these rates were 12.75 per cent and 12.50 per cent respectively.

Dena Bank will be the first bank to cut lending rates after the Reserve Bank of India announced a 100 basis point cut in the cash reserve ratio in its monetary policy in October 1999.
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Uco Bank to talk to staff on arrears waiver
Calcutta: Uco Bank will talk to its employee unions for a waiver of wage arrears payable to the employees in terms of the revision in the wages of public sector bank employees. The arrears are payable from November 1997. Uco Bank is one of the weak banks identified by the Verma Committee, which had recommended staff reduction and a wage freeze in the bank.
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ICICI Bank ties up with ISP
Calcutta: ICICI Bank is forming a market alliance with CalTiger.com, a private internet service provider in Calcutta. The tie-up will be through Patriot Automation Projects, the sole Internet service provider in the city, which has promoted CalTiger.com. Patriot is also considering an equity alliance with ICIIC Bank. To begin with, ICICI Bank's net-banking customers in Calcutta will be given fixed free Internet time by CalTiger.com.

There are also plans for Patriot to offer free- Net-banking lessons to ICICI's clients.
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