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Petrol, diesel prices go up, excise duty down
New Delhi: The government has
raised the price of petrol by around Rs 2.50 per litre and that of diesel by Rs
1.50. It has simultaneously cut the excise duty on petrol and diesel by 2 per
cent.
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Non-salaried
class comes under IT glare
New Delhi: The
finance ministry has decided to zero in on non-salaried tax payers, individuals
and HUFs, to check rampant underreporting of income by this segment, to bolster
revenues.
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Govt
to share UTI dilemma on assured schemes
New Delhi: The support of the government again to UTI was finally
considered to be the best solution in the larger interests of lakhs of
unit-holders and investors. The government is expected to share the UTI trauma
on assured return schemes.
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Tourism
industry affected by war fear
New Delhi: As India and
Pakistan indulge in threats and counter-threats, loose talk on exercising the
nuclear option continues and the armies on both sides of the border remain on
high alert, one of the casualties is the travel and tourism business.
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PNB to
overhaul operations to emerge sharper
New Delhi: Punjab
National Bank will overhaul its operations to emerge as a much sharper bank. On
the anvil is an extensive IT initiative under which the bank will network
1,500-2,000 of its branches over the next three years.
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Sort
out issues before bancassurance: IRDA
New Delhi: Insurance
Regulatory and Development Authority chairman N Rangachary has cautioned about
the need for ironing out some problems before going the whole hog over
launching bancassurance products in India.
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IRDA
to formalise online audit wing
New Delhi: The Insurance Regulatory and Development Authority will set
up an online audit wing by the month-end, with one of its members heading it
and having chartered accountants as its members.
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Aviva
Life, ABN Amro join hands
Mumbai: Aviva Life Insurance, a joint venture between the Dabur group
and CGU, and ABN Amro Bank have announced a tie-up for selling Aviva Life
Insurances products through the banks network.
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LGF in
discussions to raise Rs 50 cr via NCDs
Mumbai: Lakshmi General Finance Ltd, an associate company of the Chennai-based
Sundaram Finance Ltd, is in talks with a slew of mutual funds and other
individual investors for raising Rs 50 crore by way of non-convertible
debentures.
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Additional
disclosures in balance sheet mandatory
New Delhi: The government has issued a gazette notification making
alterations in schedule VI of the Companies Act, 1956, to provide additional
disclosures in part I form of the balance sheet with immediate effect.
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Sundaram
Mutual to launch five new schemes
Mumbai: Sundaram
Mutual Fund proposes to launch five new schemes in the next few months, the
companys managing director T P Raman said. Three of them will be equity
schemes and the other two debt
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HDFC
Mutual to offer Sensex Plus plan
Mumbai: For HDFC Mutual Fund, an index fund obviously means more than
the index, at least partially. The forthcoming scheme from the MF will offer to
investors what it calls a Sensex Plus plan.
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PM
ready to talk with Musharraf on Kashmir
Almaty: Prime
Minister Atal Bihari Vajpayee said India is ready to talk with Pakistan over
Kashmir during a regional summit on security in Almaty. Earlier, Pakistan
President Pervez Musharraf said he was prepared unconditionally to hold
talks on the Kashmir crisis with the Indian prime minister.
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Private
placement under Sebi glare
Mumbai: First, it was the capital markets scam, then gilt and next could
be the private placement market. The government is set to bring it under Sebi
regulation.
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Kerkar gets
Centaur for Rs 153 crore
Mumbai: Nearly six-and-a-half months after the cabinet committee on
disinvestment cleared the sale of Hotel Corporation of Indias Juhu property
for Rs 153 crore, Ajit Baburam Kerkar has finally acquired the prestigious
property.
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Andhra Bank
clocks 71% rise in profit
Hyderabad: Andhra Bank has registered 71 per cent rise in operating
profit at Rs 425.38 crore from Rs 248.72 crore last year.
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Dena
Bank back to profitability
Mumbai: Once in the red, Dena
Bank is back to profitability. The bank is expected to book a profit in 2001-02
when the audited results are declared on 4 June 2002.
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SBBJ
net profit up 56% at Rs 165 crore
Mumbai: State Bank of Bikaner and Jaipur has posted a 56.15-per cent
growth in net profit to Rs 164.50 crore during financial year ended 31 March
2002, against Rs 105.40 crore in the previous year.
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