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Bihar CM sinks deeper into mire
A senior CBI officer is expected in Patna to seek the Governor's sanction to prosecute Bihar Chief Minister Laloo Prasad Yadav and others in the fodder scam. This is inspite of the Bihar Governor A R Kidwai's strong criticism of CBI chief Joginder Singh for his "premature leaks" to the media.
Finance Bill passed despite BJP-sponsored amendments
The Finance Bill 1997 was passed by the Lok Sabha with a voice vote after the Bharatiya Janata Party-sponsored amendments were rejected. Though the Left parties continued to have their reservations, they did not press their amendments.
DMK government leaked information to LTTE, says Rao
Former Indian Prime Minister P V Narasimha Rao has claimed that he possesses "specific" evidence of some information, allegedly leaked by the Karunanidhi government to the LTTE and that there were serious charges against it for links with the extremist organisation.
Panel moots drastic changes in Lokpal
A parliamentary committee has come up with a series of suggestions aimed at a more effective and functionally transparent Lokpal Bill. The Bill, which seeks the setting up of a three-member panel at the national-level to probe allegations of corruption in high places, was introduced in the Lok Sabha last September. It was then referred to the multi-party parliamentary committee.
Election of Janata Dal president on June 10
It's organisational elections over in almost all the States and Union Territories, the Janata Dal (JD) is now involved in preparations for the election of its national president. The date for the election has been tentatively scheduled for June 10.
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Chidambaram warns tax evaders of prosecution
The Lok Sabha passed the Finance Bill, 1997, by a voice vote yesterday after finance minister P Chidambaram warned the tax evaders of prosecution if they failed to come out clean taking advantage of the voluntary disclosure scheme. Various amendments moved by the BJP were either withdrawn or defeated in the Lok Sabha.
Reserve Bank fixes coupon on 5-year paper at 12.69%
The Rs 3,000-crore, five-year government bond auction devolved 32.9% on the Reserve Bank of India and the primary market dealers. The coupon was fixed at 12.69%. The devolvement was in tune with market expectations. Most banks had bid between 12.55% and 12.75%, averaging a coupon rate is at 12.61%.
FII funds come in trickles as new players test waters
The Ministers & Missionaries Board of American Baptist Churches of USA and The State Teachers' Retirement Fund of USA have joined the long list of 443 foreign institutional investors desirous of reaping good returns from the Indian markets.
Deadline for NBFCs on net owned funds relaxed
The Reserve Bank of India has extended the deadline for non-banking financial companies (NBFCs) to attain the net-owned funds level of Rs 25 lakh by three years. NBFCs will require to achieve this level by April 2000. It has also stipulated norms on the maintenance of liquid assets, the mandatory creation of a reserve fund, transfer of assets by and for NBFCs.
IDBI debt issue to offer 13.5%
Industrial Development Bank of India has set up a new benchmark rate for 5-year paper by entering the debt market with a Rs 1,000-crore issue at a coupon of 13.5%. This is the lowest coupon rate offered by a triple `A'-rated debt instrument. The issue is being placed privately.
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