Rakesh Mohan advisor to FM
Dr Rakesh Mohan assumed office as advisor to Finance Minister Mr Yashwant Sinha on Thursday. He was vice-chairman of the Infrastructure Development Finance Company (IDFC). Dr Mohan will look after the duties of the chief economic advisor Shankar N Acharya, who has gone on two-year sabbatical.

Premji, Ambani in billionaires list
Azim Premji and Dhirubhai Ambani are among the 50 most richest in the world, according to the Forbes Billionaire List 2000. Premji, owner of technology and IT major Wipro Ltd, took the 43rd position with a wealth of $6.9 billion. Ambani and his family of Reliance Industries Ltd was ranked at the 45th position and accounted for a wealth of $6.6 billion. Microsoft chief Bill Gates, with a wealth of $60 billion, retained the top position in 2000 also.

Nitish Kumar resigns
Union agriculture minister and senior member of Samata Party Nitish Kumar has resigned from the Union Cabinet hoping to draw sympathy from his party members as the Samata Party has split. "I have handed over my resignation to the National Democratic Alliance convenor Mr George Fernandes and requested him to forward it to the Prime Minister," said Mr Nitish Kumar in Patna soon after returning from New Delhi.

Ford hopeful of favourable auto policy
Auto policy and the forthcoming budget, it appears, hold the key to the future prospects of the automobile industry. Both the policy pronouncements can make or mar the industry depending on which segment one caters. So much so that Ford India has set for itself two sets of targets, optimistic and pessimistic, for the calendar year 2001.

Siemens restructures management
Siemens Ltd has announced changes in the company's management structure with induction of Mr H Gelis as its executive director from January 1. Mr O Schmitt has been appointed as alternate director for Mr K Wucherer from December 15, 2000.

Maharashtra to form expert group
The Maharashtra government, bowing to the pressure from its constituents and anti-Enron lobby, on Thursday announced that it would form an expert group within two days to review the impact of Dabhol phase-II and I on the Maharashtra State Electricity Board and renegotiate the Dabhol-II with the Dabhol Power Company.

Race for IDBI top job enters last lap
The race for the top job at the Industrial Development Bank of India (IDBI) has entered its last lap, with the present chairman, Mr Gyan Prakash Gupta, slated to retire this month. The Centre is understood to have shortlisted three contenders for the top post. They are Industrial Investment Bank of India (IIBI) chairman Basudeb Sen, IDBI executive director AK Doda and Securities and Exchange Board of India executive director Pratip Kar.

ANZ to deposit Rs 1,522 cr with SC
ANZ Grindlays said on Thursday that it will deposit Rs 1,522 crore complying with the Supreme Court order in the ongoing dispute with National Housing Bank (NHB) arising out of the 1992 securities scam.

PF scheme for unorganised workers
The West Bengal government on Thursday formally announced details of a long-awaited provident fund scheme for workers in the unorganised sector. The scheme, plans for which were first announced in the 2000-01 Budget, will benefit an estimated 30 lakh workers.