Some budget proposals likely to be reviewed
New Delhi: Finance minister Yashwant Sinha announced the lifting of the Rs two lakh ceiling for investment in RBI relief bonds for all retiring employees for ploughing in their terminal benefits and indicated a review of some of the budget proposals.

Winding up a 14-hour debate on the general budget for 2002-03 in the Lok Sabha, he said the government was 'sensitive' to the demands made from all sections on some of the budget and tax proposals which would be considered at the time of passage of finance bill.

Sinha said the lifting of the ceiling on investment in RBI relief bonds, carrying an interest rate of 10.25 per cent, would be for all retiring employees of government and public and private sectors.
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CBI chargesheet against 3 Reliance officials
New Delhi: CBI has filed a chargesheet in a Delhi Court against three top officials of Reliance Industries, including the group's president V Balasubramaniam, under the Official Secrets Act for possessing secret cabinet papers.

Besides Balasubramaniam, the CBI named one of the vice-presidents of the group A N Sethuraman and its general manager (corporate affairs) Shanker Adawal besides the Reliance Industries corporate body in the chargesheet filed at the additional chief metropolitan magistrate J P S Malik's court.

The court took cognizance of the chargesheet and fixed 27 March as the next date of hearing.

The CBI had filed a case after Delhi police, during its investigations against Romesh Sharma, had found secret documents from the corporate office of the Reliance Industries located at a five-star hotel in the capital.

The CBI alleged that Delhi police had found secret papers from the drawers of Balasubramaniam, which included some of the internal decisions taken by the union cabinet.
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Indian lenders go to court over DPC
Mumbai: Indian lenders to Enron's Dabhol power project have sought a court injunction to stop US courts getting authority to oversee distribution of Dabhol's assets.

Creditors of the US parent company had formed a committee to press their claims and now wanted a say over Enron's Indian assets too.

Among the Indian creditors are IDBI, SBI and ICICI.
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RBI eases norms for share issue
Mumbai: The Reserve Bank of India has liberalised norms for issue and pricing of shares by private banks.

All private sector banks, listed or unlisted, under the revised norms would be free to issue bonus and rights shares without its prior approval.

Moreover, the bonus issue would now be delinked from the rights issues, the RBI said, adding its approval would be necessary for initial public offerings and preferential shares.

Banks would also be free to price their subsequent issue once their shares are listed on the stock exchanges.
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