Jalan concerned about growing fiscal deficit, but not falling rupee
RESERVE Bank of India governor Bimal Jalan has dismissed concerns over the falling rupee. He told reporters on the sidelines of a seminar here on Tuesday that “there was no need to worry on account of the rupee.

RBI files case against former NBIL chief
THE Reserve Bank of India (RBI) has filed a criminal case against Mr AR Moorthy, who was removed as chairman and CEO of Nedungadi Bank Ltd on May 4 by the Central bank for landing the century-old bank in the worst ever crisis in its history.

States not ready for decentralised foodgrains procurement: Naidu
ANDHRA Pradesh chief minister Chandrababu Naidu has said that state governments were not in a position to support decentralised procurement of food grains and would face several problems if given the responsibility.

Minister protests against devolution of funds to states
UTTAR Pradesh chief minister Rajnath Singh on Tuesday came out strongly against conditional devolution of funds to states.

NCP chief apprehensive of renegotiation outcome
THE Nationalist Congress Party president Sharad Pawar on Tuesday expressed serious apprehensions over the outcome of the Madhav Godbole renegotiation committee with the Dabhol Power Company (DPC) due to its negative attitude.

State advocate general dubs MSEBs claim justified
THE Maharashtra State Electricity Board (MSEB) has received a major boost, as state advocate general Ghulam Vahanvati has remarked that the MSEB’s claim towards rebate of Rs 401 crore charged on the Dabhol Power Company (DPC) for misdeclaration and default on the availability of power on January 28 is justified.

Drop in imports of sensitive items led to easing port of entry norms: DGFT
THE office of the director-general of foreign trade (DGFT) has said that the sharp drop in the imports of 300 sensitive items from Rs 519 crore in April 2000 to Rs 360 crore in April 2001, despite removal of quantitative restrictions on imports, had prompted the government to withdraw the notification restricting imports through select ports.

ONGC in talks with Petronet for Dahej project operation
OIL and Natural Gas Corporation (ONGC) has begun negotiations with Petronet LNG Limited (PLL) for procuring the prestigious operation and maintenance (O&M) contract for the LNG terminal project at Dahej.