The Hindu Business Line : Sunday, June 29, 2003

India turns creditor to IMF — Finds place in financial transaction plan
INDIA, a traditional borrower from IMF, has now become a lender to the multilateral institution. India has contributed $291.70 million to the International Monetary Fund in two tranches in May and June. "India has now become a creditor the ... More

Forex reserves fall on $291-m transfer
THE country's foreign exchange reserves have come down by $301 million for the week ended June 20, 2003 mainly on account of the country's subscription to a finance scheme of the International Monetary Fund. According to the RBI, India has ... More

ICICI Bank reports loss, higher net worth under US norms
"The increased net worth is due to the mark up of ICICI Bank's assets on fair valuation, goodwill and capital gains from the sale of ICICI Bank shares.'' More

Leave development to private sector, says Narayana Murthy
How about private companies running primary schools, healthcare centres, housing colonies and ration shops? And the Government just sticking to handling things such as defence, security and conducting elections? This may sound far-fetched, but ... More

Cabinet okays tariff concession pact with China
THE Cabinet today endorsed the move by India and China to offer tariff concessions to each other under the Bangkok Agreement, with the Government claiming that China's accession to the agreement would work to India's advantage. Briefing ... More

RIB holders may convert bonds into rupee deposits
THE Resurgent India Bonds (RIBs), expected to begin maturing from August onwards, are expected to be converted into rupee denominated deposits. Bankers said that the trigger for this conversion was initiated by the cut in the US Fed rate to ... More

New schemes for CellOne subscribers
BHARAT Sanchar Nigam Ltd (BSNL), which has already logged three million subscribers for its cellular services - CellOne - has announced a new twin-offer promotion scheme for these services. According to an official statement, the ... More

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