Decks cleared for bank funds for films
The entertainment industry on Wednesday was recognised under the IDBI Act as an approved activity under industrial concern. Information and Broadcasting Minister Sushma Swaraj has assured representatives from the industry that bank finances will be more accessible. Govt may allow FDI in print mediaThe government may consider allowing foreign equity in print media in view of the changing information scenario but made it clear that due caution would be taken before taking any decision. "I have not said we are not allowing or allowing. This is under consideration," Information and Broadcasting Minister Sushma Swaraj said.

Phone registration fees cut
The centre has cut the registration charges for telephone connection from Rs 3,000 to Rs 2,000 in urban areas and from Rs 1,000 to Rs 500 in rural areas. It has also announced a schedule for the next round of bidding.

Three banks bid for IndusInd stake
Three foreign banks are in the race for picking up the 16 per cent stake that the Hinduja Group is required to dilute in IndusInd Bank as per the Reserve Bank of India's norms governing promoters' holding in private banks.

UTI Bank H1 net rises 155 per cent
UTI Bank has posted a 155 per cent rise in net to Rs 35.17 crore for the first six months of the current fiscal, up from Rs 13.77 crore during the corresponding period in the previous fiscal.

Bajaj Auto H1 net skids 31.5%
Bajaj Auto has reported a drastic 31.5 per cent drop in net profit to Rs 170.15 crore in the six-month period ended September 30, 2000, as against Rs 248.48 crore in the corresponding period last year.

Enron may sell oil and gas assets
Enron on Wednesday said it was considering sale of oil and gas assets in India as part of annual rebalancing of assets and expanding into trading operations and communications infrastructure. "The sale of the oil and gas assets under consideration constitutes our annual reblancing of assets," the company said in a statement. Enron had on Tuesday approached the government for permission to withdraw from its present oil and gas operations at Panna, Mukta and Tapti fields.

5-yr norm goes for multiple membership
Individual brokers can be members of as many SEs as they would like to, without floating new companies to circumvent regulations, due to the Sebi decision to bring individual brokers on par with corporate members in terms of eligibility for multiple membership.

RIL scrip falls below buy-back price
The Reliance Industries Ltd stock on Wednesday closed below the indicative buy-back price of Rs 303. On BSE, the stock closed at Rs 298.30, down 1.13 per cent and on NSE by 1.19 per cent at Rs 298.35.