EC tells UP to revoke "sops" to BSP MLAs
The Election Commission (EC) and the Uttar Pradesh government are now poised for another clash. The latest conflict arises from the UP government's appointment of four BSP MLAs as chiefs of various bodies. The EC yesterday ordered cancellation of these appointments, claiming that they were an attempt at influencing the electorate.
Call rates go through roof, touch 140%
The stringent monetary policy announced by the RBI on Friday to halt the rupee's decline had its effect on the money markets yesterday. The RBI move saw interest rates in the inter-bank call money market shot up to a record high of 140%. The rates, which closed on Friday at 25-30%, however, stabilised as the day progressed to close at 20%.
You can find the answers to Bofors - if you want to
A resolution to the Bofors issue can be effected but it requires a determined effort from both the Swiss and Indian governments. This may be a bit too much too expect in light of the attempts by successive Indian governments to suppress facts related to the issue.
Inspired Pak stands between India and Independence glory
Tensions run high as India take on Pakistan in the third and deciding final of the three-nation Independence Cup being played in Dhaka today. With the teams going into the match with the scores locked 1-1, the pressure on both sides is heavy. However, India should hold the upper hand, thanks to the supreme form of its batsmen coupled with the absence of key Pakistani players.
Navy to acquire subs, frigates for $1 billion
The Union ministry of defence has now and the Russian republic have entered into a major agreement. Under the deal, the Russians will be supplying three frigates and two submarines to the defence ministry. The deal, pegged to cost more than a billion dollars, was apparently concluded in November 1997.
Face-off continues; Saddam asks UN to lift sanctions
The withdrawal of the UN weapons inspection team leader, Scott Ritter, from Baghdad seems to have emboldened Iraqi president Saddam Hussein further. Saddam has now stated that the weapons inspection will not receive any further co-operation unless the existing sanctions on Iraq were withdrawn quickly, adding that Iraq may also impose a deadlne for the team to finish its inspection.
