Bank Rate cut to 7.5 pc -- Two-stage CRR trim to free Rs 4,100 cr
IN a pleasing springtime measure, leaning in favour of a low interest regime, the Reserve Bank of India today cut the Bank Rate from 8 per cent to 7.50 per cent. Also, the cash reserve ratio (CRR) has been dropped from 8.5 per cent to 8 per cent in two s tages to release Rs 4,100 crore into the financial system.

Govt to hold talks with Suzuki
THE Government would soon open a dialogue with Suzuki Motor Corporation (SMC) to discuss the modalities of the proposed disinvestment of the Centre's holding in Maruti Udyog Ltd (MUL). Preliminary discussions on the ratio of the proposed rights issue are also likely to be touched upon during the meeting.

Counter-offer -- VST meets SEBI on BAT's status
A DELEGATION from VST Industries Ltd has met the top brass of the Securities and Exchange Board of India (SEBI), seeking clarity on the eligibility of British American Tobacco Plc (BAT) to come out with a counter offer in response to the open offer annou nced by the Damani brothers-owned Bright Star.

Rate cut fails to impress securities
SECURITY markets, initially excited by a 50-basis points cut in bank rate from 8 per cent to 7.50 per cent, turned moody subsequently as it did not fulfill expectations of a one percentage point drop. Actively traded papers gained by around 50 paise imme diately after the cut, but lost 30-40 paise to close flat. Yet the closings were higher over the previous day's end.

Sensex plunges 107 points on Budget jitters
WITH a sharp turnaround in sentiment, share prices plunged across the bourses on panic selling by operators.

Fresh curbs on foreign investment in print media
THE Reserve Bank of India has issued a notification restricting foreign venture capitalists, foreign institutional investors, non-resident Indians and overseas corporate bodies from investing in Indian print media.

Govt approves VSNL divestment
MUMBAI: THE disinvestment of 25-per cent equity capital of VSNL through strategic sale has been approved by the Government.

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