RBI extends one more carrot to FIIs
The Reserve Bank of India (RBI) has extended the benefit of forward cover on incremental equity investments by foreign institutional investors (FIIs) to cover appreciation in the market value of existing investments. This is in addition to the permission granted to FIIs to take forward cover for their incremental equity investment from June 11.

Govt puts two key demands of telecom operators on ice
The Union government has put the two key demands of telecom operators -- moratorium on payment of licence fees by two years and extension of the life of a telecom licence from 10 to 20 years -- in cold storage. The department of telecommunications (DoT) has said that the finance ministry is "not willing to provide a commitment" on the demand for a two-year moratorium on payment of licence fees.

RBI asks public banks to rescue capital markets
The Reserve Bank of India (RBI) has informally directed some of the public- sector banks to come to the rescue of the capital markets by immediately launching secondary-market operations in equity. The RBI deputy governor Jagadish Capoor reportedly advised a few bank chiefs to take the plunge in the operations without delay.

CORPORATE
BHEL, Mitsui in race for NTPC's Simhadri project
Cummins India extends its product line, taps "small" range

ECONOMY
Cellular firms default on licence fee payments
Industrial growth rises by 6.3 per cent

EXPRESSIONS
Tackling telecom
A true visionary

MARKETS
Sensex rebounds as SEBI targets short sellers
Forward premiums show inverted progress

LEISURE
Net threat audible, says British music industry
Sony to produce flat display tubes