Banking and Finance
Focus on banking performance
BANKS have to adapt themselves to the changing scenario in the banking industry and the emphasis has now shifted from deposit mobilisation to better performance and customer satisfaction, according to the Chairman of Karnataka Bank, Mr. Ananthakrishna.
SBI targeting NRIs for housing loan
STATE Bank of India is targeting more NRI clientele for its housing loan scheme and as part of this new thrust, participated for the first time in property exhibitions held in the Gulf recently.
Corporate
Govt to get Rs 40 cr for Modern Foods stake -- `Put option' sale to HLL
THE Centre is set to receive Rs 40 crore from the sale of its remaining 26 per cent stake in Modern Foods India Ltd (MFIL) to Hindustan Lever Ltd (HLL).
B.H. Singhania is new Vice-Chairman of JK Corp
THE board of JK Corp Ltd has given its nod for the elevation of Mr Bharat Hari Singhania to the post of Vice-Chairman and Managing Director of the Rs 42-crore cement company.
Information Technology
Plan panel for closer look at e-governance
THE working group on convergence and e-governance of the Planning Commission has said that if the whole country is to benefit with a reasonably uniform pace of growth and for establishing Government to citizen interface, a more detailed look has to be gi
ven to the whole concept of e-governance.
Miscellaneous
Fardeen inaugurates Provogue studio
Pic.: Actor Fardeen Khan at the inauguration of the Provogue studio at Globus store, Chennai on Saturday.
Mutual Funds
Bank nominees to move out of UTI board soon
THE nominees of State-owned banks, the Industrial Development Bank of India and the Reserve Bank of India, on the Board of Trustees of the Unit Trust of India (UTI) are set to move out shortly as part of a proposed revamp, according to officials.
US-64: Views split on NAV impact
THE disclosure that the net asset value of Unit Trust of India's flagship scheme US-64 is at Rs 5.81, much lower than anybody's expectation, came as a surprise to the investor fraternity.
Power
PFC plans to float $1-b fund
THE Power Finance Corporation (PFC) has proposed the float of a $1-billion India Power Fund -- on the lines of the India Millennium Deposit scheme -- to finance purely generation and associated transmission projects in the country. A formal proposal in t
his regard was forwarded to the Power Ministry recently.
Power reforms: Panel advocates liberal yardstick
THE Centre's expert group on State electricity board (SEB) reforms headed by Mr N.K. Singh, Member (Energy), Planning Commission, has significantly diluted the recommendations of his predecessor, Mr Montek Singh Ahluwalia, on the norms for the Centre to
reward States undertaking power sector reforms.
KPCL may derate Alamatti capacity
IN a bid to bring down the tariffs, the State-owned utility, Karnataka Power Corporation Ltd (KPCL) is likely to derate the capacity of the Almatti hydel power project.
Radio/TV
TN cable operators blank pay channels
CABLE television operators in Tamil Nadu today switched off all the pay-channels protesting what they called the hefty hike in subscription fees by the channels.
States
Bengal awards scholarships to students
THE Dr Moni Bhumik Education Foundation at a function here has awarded scholaships to 10 meritorious students hailing from rural areas of West Bengal.
D. Kannada bank deposits cross Rs 4,349 cr by Sept
TOTAL deposits in the banking sector as a whole -- inclusive of commercial banks, co-operative banks, rural banks and other financial institutions -- in the Dakshina Kannada district of Karnataka stood at Rs. 4,349.41 crore as on September 30, 2001, with
a further addition of Rs. 323.20 crore during the subsequent months.
AP to usher in convergence with `village secretariats'
WITH the dawn of the year 2002, in yet another important stride towards multi-sectoral reforms in the administrative set up, the Andhra Pradesh Government is moving towards establishing `village secretariats' bringing in convergence at local level.
Killer-quake's first anniversary -- Gujarat gets cracking on removal of debris
IF one cannot rebuild the towns and villages that were ravaged by the killer quake in one year, the next best thing would be to ensure that not much evidence remains of the crumbled edifices in the major towns and villages of Kutch. With less than a mont
h to go for the first anniversary of the quake, the Gujarat Government seems to be fairly unambiguous as to the target that it has set itself for the coming Republic Day.
Telecommunications
Sales tax sop for all telecom providers on the cards
A NEW year bonanza is in the offing for all telecom service providers.
Textiles
Provisional duty on POY from S. Korea, Turkey
THE Finance Ministry has imposed provisional anti-dumping duty on all imports of partially-oriented yarn (POY), a yarn of polyester, from South Korea and Turkey.
Transport
IWAI's tea cargo reaches Kolkata
INLAND Waterways Authority of India's (IWAI) experimental transportation of cargo from Pandu (Guwahati) to Kolkata proved a success when its 625-tonne capacity shallow draft vessel m.v. Rajagopalachari with a full capacity cargo of tea in plastic bags fr
om Hindustan Lever Ltd reached Kolkata port on December 18 last.
Travel & Places
KTDC, Rlys tie up to boost tourism
IN AN EFFORT to tide over the fall in foreign tourist traffic post-September 11, the Kerala Tourism Development Corporation (KTDC) and Indian railways have teamed up to introduce package tours to holiday destinations in Kerala.
