`Remarkable improvement' in performance -- Fund needs of weak banks to be reassessed: Sinha
THE Government would reassess the recapitalisation requirement of the three weak banks -- Indian Bank, United Bank of India and UCO bank -- in view of their improved performance during the previous fiscal, the Finance Minister, Mr Yashwant Sinha, has sai d.

Intel among 28 FDI proposals cleared
THE Government has cleared 28 proposals foreign direct investments (FDI) of which 14 account for fresh foreign currency inflow of Rs 226 crore. The other 14 deals with amendments to existing foreign currency approvals or acquisitions of one foreign partn er's holdings by another foreign entity.

Chairman, RBI nominee appointment -- Shareholders' group of United Western for EGM
A GROUP of 14 shareholders of the Satara-based United Western Bank Ltd (UWB) have requisitioned for convening an extraordinary general meeting (EGM) of shareholders. The EGM is requisitioned for appointment of a nominee of the Reserve Bank of India and a ppointment of an independent Chairman of UWB.

Maruti on the service highway
AS part of its strategy to further strengthen its service network and to cater to the increasing number of domestic tourists travelling by road, Maruti Udyog Ltd (MUL) has drawn up plans to set up company authorised service stations along eight major hig hways of the country during the current fiscal.

Cabinet opens FDI floodgates -- Defence freed for private sector investment
IN a major drive to attract foreign investment, the Union Cabinet today threw open the gates to foreign direct investment (FDI) by hiking the limits in telecom, banks, drugs and pharmaceuticals, airports, development of townships, hotels and tourism, cou rier services, mass rapid transport system, defence and courier services.

100 pc FDI in shipping allowed
NEW DELHI: The Ministry of Shipping on Wednesday said that 100 per cent foreign direct investment (FDI) has been permitted in shipping sector.

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