Financial Daily from THE HINDU group of publications
Wednesday, November 13, 2002
Markets (Nov. 12)
BL 2501035.37 (+5.10)
BSE Sensex2961.24 (+13.20)
S&P CNX Nifty959.85 (+5.80)
Dollar (Buy/Sell)48.23/48.36
Gold Std (10 gm)5300 (+20)

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Rs 2,500-cr dose for IDBI recast as bank
THE Government tonight approved a restructuring package for Industrial Development Bank of India (IDBI) by repealing the IDBI Act and facilitating the conversion of the development financial institution into a stand-alone bank. The new entity ... More

Microsoft to invest $400 m in India over three years
MICROSOFT Corporation will make its largest investment outside the US in India by pumping in $400 million (about Rs 2,000 crore) over the next three years to spread computer literacy, outsource more software and boost its business in the ... More

SEZ banks to have $10-m capital infusion by parent
BANKS setting up offshore banking units (OBU) in Special Economic Zones (SEZ) would have to allocate a minimum capital of $10 million. They will, however, be exempted from CRR requirement, and on request, also from SLR requirement for specific ... More

Industrial growth up at 6.1 pc in Sept
TRUE to the signals of recovery in the economy, the industrial sector has posted a growth of 5.2 per cent in the first six months of the current fiscal (April-September 2002) as against 2.4 per cent in the corresponding period last year. As ... More

Gates to meet top bankers
PUBLIC sector bank chiefs have a rendezvous scheduled here with the Microsoft Chairman, Mr Bill Gates. A senior official of the Indian Banks Association confirmed that a round-table conference comprising chairmen of 10 banks would be held ... More

Govt rejects Shell plea to waive divestment rule
THE Government has rejected outright global energy giant Shell group's request for a waiver of the mandatory divestment of 26 per cent equity stake in its Indian subsidiary Shell India Private Ltd in favour of resident Indian shareholders. The ... More

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