Overseas commercial borrowings -- Automatic approval norms in for changes
THE automatic approval regime for overseas commercial borrowings up to $50 million is set to undergo changes, marked by more restrictions, following reservations expressed by the Finance Ministry regarding the misuse of this facility.

Govt no to review of FDI cap in insurance
THE Government has decided to take the negotiating position of not changing the existing foreign equity cap of 26 per cent in the insurance sector during the forthcoming financial services negotiations under the General Agreement on Trade in Services (GA TS).

Indian Bank reduces net loss by 35 pc
INDIAN Bank has reduced its net loss for 2000-01 by 35 per cent -- from Rs 427 crore in 1999-2000 to Rs 274 crore in the year ended March 2001.

Transfer pricing adjustments -- Exporters to lose income-tax holiday
EXPORTERS enjoying income-tax holidays are in for some disappointment with the recent transfer pricing legislation. The Government has now made it clear that these enterprises would not be eligible for tax holidays on any transfer pricing adjustments mad e by the tax authorities.

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