EPF interest rate unchanged at 9.5%
New Delhi: The board of trustees of Employees' Provident Fund (EPF) has decided to keep the interest rate unchanged at 9.5% for the year ending March, 2003.

Labour minister Sharad Yadav told reporters after a meeting of the board of trustees that the board had decided by consensus to retain the interest rate at 9.5 per cent.

Yadav said the board would take up the issue with the government as the finance ministry had earlier informed them that the rate should be reduced to 9% in line with the government's policy of low interest rates.
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Industrial growth dips to 2.3 pc in Feb
New Delhi: Industrial growth slowed down to 2.3 per cent during February 2002 as against 3 per cent a year-ago period, mainly due to lower growth in consumer non-durables, manufacturing, capital goods and consumer durables.

The quick estimates of Index of Industrial Production (IIP) released by Central Statistical Organisation pegged the general index at 170.3 during February 2002, which is 2.3 per cent higher than that in February 2001.

The IIP grew by 2.6 per cent to 165.5 in April-February of 2001-02, which is also less than 5.4 per cent growth in the same period last year.

Growth in manufacturing sector skid to 2.3 per cent in February 2002 as opposed to 3.6 per cent growth in the same period last year.
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BJP tells Modi to call elections in state
Panaji: The BJP national executive has advised Gujarat chief minister Narendra Modi to seek dissolution of the assembly, go to the people and seek their verdict.

In a three-page resolution, indicative of the partys return to a hardline Hindutva line, and the ascendancy of home minister LK Advani, the national executive applauded the firmness with which Modi handled the Godhra carnage and the riots that followed.

Modi had earlier offered to quit.
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IIM-B to introduce Web-based course
Bangalore: The Indian Institute of Management Bangalore plans to launch a Web-based business management programme for entrepreneurs during the later part of this year, according to Prof S Raghunath, professor of corporate strategy and policy at the institute.

Speaking to the press on the occasion of the release of the Global Entrepreneurship Monitor-2001 (GEM-2001) report here, he said the course would help to meet the need for educating Indian entrepreneurs in management and principles of the market economy.

The nine-month session would be a blended programme, involving a 27-week Web-based session, followed by a two-week face-to-face session at the institute.
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Herbal sweetener for diabetics
Bangalore: ASR Nurseries, Bangalore, has come out with herbal sweetener, derived from the leaves of Stevia plants in the form of leaf powder.

The leaf powder of Stevia Rebaudina, a high potency sweetener originating from Paraguay, is 30 times sweeter than sugar, is calorie-free and has anti-bacterial activity to reduce blood sugar levels, says a company release.
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Jet Airways accused of underworld links
New Delhi: Intelligence Bureau has alleged that Gulf-based underworld dons Dawood Ibrahim and Chhota Shakeel had invested in Jet Airways..

The civil aviation ministry is likely to order an inquiry to determine if the security clearance given to the airliner needs to be reviewed in view of the adverse report filed by the IB.

The Research and Analysis Wing (RAW) is also to conduct a similar inquiry into the financial dealings of Jet and its promoter-chairman Naresh Goyal.

In its report, the IB stated that Jet Airways and Goyal have been receiving large investments from the Gulf countries. The IB has also said that its investigations had confirmed that Goyal had connections with underworld dons Dawood Ibrahim and Chhota Shakeel.
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RBI okays smart cards
Mumbai: The Reserve Bank of India has allowed issuance of smart cards both on-line and off-line by banks to select customers even if their accounts are for less than six months.

The customers should have good financial standing and banks should ensure the implementation of "know your customer" concept, RBI said in a circular to all scheduled commercial banks.

The apex bank said banks introducing off-line mode of operation of debit cards should adhere to the minimum period of satisfactory maintenance of accounts for six months.
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