Financial Daily from THE HINDU group of publications
Tuesday, August 10, 2004

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`Interim' EPF interest rate pegged at 8.5 pc
AMID protests by trade unions affiliated to the Left parties and the BJP, the Central Board of Trustees of the Employees Provident Fund Organisation (EPFO) on Monday lowered the annual rate of interest to 8.5 per cent on the fund deposits of ... More

RBI freezes operations of South Indian Co-op Bank
THE Reserve Bank of India on Monday froze all operations of The South Indian Co-operative Bank Ltd. It allowed depositors to withdraw a sum not exceeding Rs 1,000 from the Mumbai-based urban co-operative bank. The bank is not allowed to advance ... More

SEBI launches probe into `insider trading' in GTB shares
THE SEBI Chairman, Mr G.N. Bajpai, today said that the regulator has launched an investigation into the alleged insider trading in Global Trust Bank (GTB) securities before the announcement of moratorium and merger with Oriental Bank of Commerce ... More

CBDT revisits BPO taxation with draft revised circular
THE Central Board of Direct Taxes (CBDT) has come up with a draft revised circular on taxation of IT-enabled business process outsourcing (BPO) units in India. It has also with immediate effect withdrawn its January 2004 circular on the same ... More

Bonds plunge on fears of interest rate hike
BOND prices plunged by over a rupee on Monday as yields rose to their highest in eighteen months, as the Government debt sale had higher than expected yields amid fears of rising interest rates, said dealers. The yield on 10-year benchmark 7.37 ... More

UB, Shaw Wallace bury the hatchet
SHAW Wallace & Company (SWC), managed by the Jumbo group, today announced that all disputes between it and the UB group, headed by Mr Vijay Mallya, have been resolved. This brings to an end a series of legal cases, some dating as far back as ... More

Sensex recovers on fresh buying
AFTER the weakness witnessed towards the close of last week and despite the fall in major indices globally, Monday's trading session at the Indian stock markets saw a strong upward move on the back of fresh buying support. Inflation-related ... More

Better earnings from oil firms seen this quarter
EARNINGS of state-owned oil marketing companies are likely to improve a shade sequentially in the second quarter of the current fiscal as domestic price hike cushions the spiralling global oil price, analysts said. "We expect global prices will ... More

Drugs cheaper here than in Pak, Lanka
EVEN as the Government is planning to lower drug prices by bringing around 300 drugs under price control, the Indian pharmaceutical industry feels that prices of drugs in India are cheaper than those available in the neighbouring countries of ... More

Genetically modified athelete — does it run true?
INDIA hankers to be a global centre in biotechnology, and it hopes that some day the Olympics will mean more than a junket for the politicians and bureaucrats who govern our sports. With the arrival of the genetically ... More

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