LS Speaker Balayogi dies
Eluru: Lok Sabha speaker G M C Balayogi was killed when his helicopter crashed into an aquaculture pond in Kovvada Lanka village on 3 March.

The accident occurred around 8 am killing the speaker, his additional private secretary K Sattiraju and the pilot G V Menon, on the spot. Balayogi was returning to Hyderabad from Bhimavaram in West Godavari district after an overnight stay.

The helicopter developed a snag forcing the pilot to begin emergency landing procedures over an aquaculture pond.

When the pilot was about to land the chopper on a bund, the rotor blade hit a coconut tree and the craft nosedived into the pond.

Balayogi, who was sitting in the front row alongside the pilot, sustained an injury on the forehead and died on the spot. His private secretary and the pilot too died instantly.
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Gujarat violence toll nearly 500
Ahmedabad:  The death toll from four days of violence in Gujarat rose to 478, with the recovery of more bodies on 3 March.

Sporadic incidents of violence overnight were reported in some interior parts of the state and the curfew was being relaxed in several towns in the state.

Troops were patrolling the calmer streets of Gujarat's main city Ahmedabad and other sensitive areas in the state, but had still to reach remote villages.
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Strong tremors jolt Delhi, Srinagar
New Delhi: Strong tremors jolted Delhi several times on 3 March but there was no immediate report of damage or casualties.

The quake hit New Delhi around 17:45 and lasted almost 60 seconds, prompting people to flee their homes.

The quake also shook several towns and cities of northern India.

Reports from north kashmir said Baramulla district town and its adjoining areas also were rocked at the same time.
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Forex reserves rise $237 m
Mumbai: Forex reserves of the country rose by another $237 million to touch $50.445 billion for the week ended 22 Februaryas compared to $ 50.208 billion in the previous week.

The reserves which crossed the $ 50-billion mark last week, have been rising steadily on account of steady dollar inflows into the market.
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BSNL to provide 16 lakh phones
Jamshedpur: BSNL will provide new 16 lakh telephone connections on Wireless in Local Loop (WLL) system, 24 lakh mobile and 24 lakh ordinary telephones in 2002-03 all over the country.

Within six months, 1,800 villages will be connected through the WLL network.
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Chinese shipping giant to enter India
Beijing: China Ocean Shipping Company, one of the world's leading shipping giants, is scouting for joint venture partners to enter the Indian market.

The company is also planning a separate logistics business in India.

COSCO already has a representative office in Mumbai and the company's ships regularly call on major Indian ports.
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Interest rates on relief bonds cut
Mumbai: Relief bonds issued on or after 1 March will bear an interest rate of eight per cent as against 8.5 per cent earlier. This follows the 50 basis points cut on the tax-free relief bonds in the Union Budget 2002-03.

RBI said that simultaneously, the sale of bonds bearing interest of 8.50 per cent per annum will cease.

RBI further clarified that the bonds issued under the earlier scheme namely the nine per cent Relief Bonds 1987, 10 per cent Relief Bonds 1993, nine per cent Relief Bonds 1993, 10 per cent Relief Bonds 1995, nine per cent Relief Bonds 1999 and 8.5 per cent Relief Bonds 2001 will carry post maturity interest at the rate of eight per cent with effect from 1 March.
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