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IFC to lend
$400 million to India
INTERNATIONAL Finance Corporation (IFC), the private enterprise arm of
the World Bank, expects to approve over $400 million of investments in
India this year - the largest amount ever approved for the country.
‘Indian economic growth to
slow down’
THE International Monetary Fund (IMF) on Thursday said India’s
economic growth would slow down to 5.6 per cent in 2001 from 6 per cent
in the previous year and suggested that it should promote private investment
and contain deficit, which consume half the domestic saving, to remove
the growth impediments.
PGCIL plans for smooth inter-regional
power transfer
THE Power Grid Corporation of India Limited (PGCIL) has chalked
out a plan to integrate all the regions through HVDC stations/bi-poles
and 765 KV AC rings in a bid to help in the transfer of power between
regions without any constraints.
ICFAI introduces MBA for insurance
stream
THE Institute of Chartered Financial Analysts of India has
introduced two-year full-time programmes in MBA (Insurance) and MBA (Finance)
at the institute headquarters in Hyderabad, according to a press release.
The programmes will be taught at ICFAI School of Finance and Management
(ISFM).
Madhavpura bank MD Pandya arrested
Absconding chief executive officer (CEO) and managing director
of the beleaguerd Madhavpura Mercantile Cooperative Bank (MMCB) Devendra
Pandya, was finally arrested by a team of the economic offence cell of
the state criminal investigation department from his residence in Ahmedabad.
Judge raps CBI, extends remand
for Ketan, others by a week
SPECIAL judge AR Joshi of the designated court came down heavily
on the Central Bureau of Investigation (CBI) on Thursday before extending
the remand of the three accused -- stock broker Ketan Parekh, his cousin
Kartik Parekh and an official of Madhavpura Mercantile Co-operative Bank
(MMCB) JB Pandya for seven days, who defrauded Bank of India (BoI) to
the tune of Rs 137 crore in the now infamous pay-order scam.
Sterling Infotech makes Rs
2,500 crore offer for 5 MHz of 20 MHz WLL spectrum in all circles
THERE is a new twist in the limited mobility tale. The spar
between basic and cellular operators over the limited mobility issue took
a new turn on Thursday with the NRI corporate raider C Sivasankaran making
an offer to pay Rs 2,500 crore for five Mhz of the 20 Mhz spectrum reserved
for wireless in local loop (WLL) mobility “to end the limited mobility
impasse.”
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