The Hindu Business Line : Thursday, March 28, 2002

SBI cuts PLR 50 basis points -- Deposit rates reduced by 25 points
NEARLY a month after the Finance Minister reduced the small savings rate by 50 basis points in the Union Budget, State Bank of India (SBI) on Wednesday slashed its lending and deposit rates. The prime lending rate (PLR) of SBI has been cut by ... More

DoT issues guidelines on universal service obligations
THE Department of Telecommunications (DoT) has announced the creation of a Universal Service Fund (USF) starting April 1, 2002, to extend support to the basic and cellular service providers for meeting their universal service obligations ... More

IA to buy 43 Airbus aircraft
THE Indian Airlines board, at its meeting here today, accepted the techno-economic report of its aircraft evaluation committee which recommended that the airline acquire 43 Airbus aircraft between 2003-04 and 2007-08. The Rs 10,089-crore fleet ... More

GoM for scrapping vintage allowance to urea plants
IN a further blow to the domestic urea industry, the Group of Ministers (GoM), set up to formulate policy parameters and norms for determining retention prices of individual units, has recommended scrapping of the five per cent `vintage ... More

Saldanha quits as Haldia Petro MD
MR Richard B. Saldanha, Managing Director of Haldia Petrochemicals Ltd, has resigned from his post. The board has accepted his resignation. Confirming this development, Mr Saldanha said his resignation would take effect from May 1. He is ... More

Top-level changes in Murugappa group
THE Murugappa group has announced a few "top-level changes" which became necessary on account of the group's thrust into two new areas - general insurance and IT-enabled services. It has been decided that all investments in insurance will be ... More

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