World Bank regrets project loans to 6 banks
Nearly five years after the approval of the $700 million financial sector development project (FSDP) loan to six public sector banks, an internal World Bank study has lambasted the project saying: "The initial objects of the project were overly vague and ambitious, the design was flawed... The initial audits were not of good quality and so was the selection of participating banks."

Indian banks are inefficient, says World Bank
The World Bank feels that the Indian banking system still remains a "massively inefficient state-controlled system and not competitive". The operations evaluation department (OED) of the Bank has identifed four thrust areas for the second generation of Indian financial sector reforms.

Railways automobile freight up 100 per cent
The Railways recorded more than 100% increase in automobile loading during 1999-2000. The number of automobile rakes stood at 520 compared to 244 during 1998-99.


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