RBI clears BoM merger with ICICI Bank
The RBI has approved the merger of Bank of Madura (BoM) with ICICI Bankfrom March 10. ICICI Bank has fixed April 11 as the date to determine theshareholders of BoM, who would be entitled to receive the equity shares ofthe former. Top-level appointments in 5 insurance firms cleared
The finance ministry has issued orders notifying top appointments in fivepublic sector insurance companies. As reported in The Financial Express onTuesday, the PMO last week approved appointment of Mr KN Bhandari aschairman and managing director (CMD) of New India Assurance, Mr BD Banerjeefor Oriental Insurance, Mr MK Tandon for National Insurance and Mr VJagannathan for United Insurance. Mr PC Ghosh will be the managing directorof GIC.
BSNL abolishes duration charges for I-Net
BSNL on Tuesday announced the revision of tariffs for its terrestrial publicdata network, I-Net, abolishing the duration charges and offering access tothe nearest node on local call charges, with effect from March 1. Under therevised tariffs, BSNL has also made access to Internet through I-Net, freeof volume charges.
MTNL launches Dolphin
International call rates are to drop by the year-end. The Centre plans tocut these rates at a benchmark level of 69 cents per minute from the current85 cents per minute as arrived at the International Telecom Union. TelecomCommission chairman Shyamal Ghosh told reporters after the launch of MTNL'sDolphin service in Mumbai that the Centre would permit unlimited entry inthe international voice telephone after 2002.
Copyright © 2001 Indian Express Newspapers (Bombay) Ltd.
