RBI fixes 10-year YTM at 10.85% for bonds
The Reserve Bank of India on Monday fixed the 10-year yield-to-maturity at 10.85 per cent for banks to value their bond portfolio in the current category. In a circular to all commercial banks, the RBI said any appreciation in the value of securities on account of the method of valuation indicated by it cannot be booked as income.Microsoft may lose rights to browser
The Government is considering a plan to strip Microsoft Corp of the rights to its one of its most valuable assets, its Internet Explorer browser software, as part of a sweeping remedy in the landmark antitrust trial, people close to the case said. Under the proposal, Microsoft would be forced to grant royalty-free licenses to the product.
`SA national acted as middleman'
The cricket match-fixing case took a new turn on Monday, with the Delhi police claiming that a South African national acted as a middleman between Sanjeev Chawla and South African skipper Hansie Cronje a day before the first one-day international with India on March 9 from a Kochi hotel where they both stayed. Rishi Pal, assistant commissioner of police, said both Chawla and Cronje stayed in the same hotel.
JVSL operations exceed capacities
Jindal Vijaynagar Steel announced on Monday that the operations of its various units engaged in the manufacture of steel have achieved full capacity utilisation in the first eight months of operations.
Exide reorganises
Automotive and industrial battery maker Exide Corp on Monday said its president and Chief operating officer Alan Johnson had resigned, and it was reorganizing from a geographical to a more customer-focused structure. Under the new structure, units will organise work by customer type.
HFCL says issue now in two parts
Himachal Futuristic Communications said on Monday it had decided to split the placement of 10 per cent equity with Australian Kerry Packer's companies into two parts pending regulatory approvals. The telecoms and software firm's board approved placement of 1.58 million shares worth Rs 2.28 billion, and said it would seek Government permission for the remaining 5.58 million valued at some Rs 8.10 billion.
Surcharge to offset sales tax
The ministry of petroleum has reworked the mode of reimbursing central sales tax payment by oil firms which buy products from Reliance Petroleum's Jamnagar refinery. The prevailing system of state surcharge meant to offset under-recoveries in CST payment will now be supplemented by an all-India sales-tax surcharge.
-- Compiled by S Hariharan
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