ONGC to buy 10% each in Gail, IOC
The Oil and Natural Gas Corporation has okayed a proposal to buy 10 per cent apiece of the government's stake in Indian Oil Corporation and the Gas Authority of India (GAIL) for around Rs 2,400 crore.

Reserve Bank to float payment-system subsidiary
The Reserve Bank of India plans to set up a wholly-owned subsidiary which will be an independent service provider (ISP) in the real time gross settlement (RTGS) system. The RTGS system is being set up by the RBI for banks and financial institutions.

Maharashtra gifts Telco's Indica two-year tax waiver
The Maharashtra government has decided to give a two-year sales tax exemption to Telco's Rs 1,700-crore Indica car project. This could give the Tatas an opportunity to review the price of the car and even consider taking Maruti head on in the price war.

CORPORATE
Ind Auto may snip diesel Uno price
BPL likely to offer 23 per cent stake to expatriates, overseas corporate bodies

ECONOMY
Ordinance to amend Cable Networks Act on the cards
Centre targets Rs 8,000cr mopup via divestment

EXPRESSIONS
Wrong assumption
Market-savvy firms

MARKETS
Five local firms may list on New York exchange by 2001
DSE in talks with Chicago options bourse for derivatives introduction

LEISURE
Digital home of the future is here, almost
Corporate travel has new address as Essar House roof-top turns heliport