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Pawar powers Ranjit triumph
Senior Congress leader and Maratha strongman Sharad Pawar yesterday scored a major victory over his traditional rivals S B Chavan and Sudhakarrao Naik when his nominee Ranjit Deshmukh was unanimously elected as the president of the Maharashtra Pradesh Congress Committee.
Soft VDS but cast iron tax net from July
Come July 1, and the life of those with some disposable income will never be the same again. For this is the day on which the Union finance ministry proposes to launch two schemes to lure as many potential taxpayers and evaders into their net as possible.
Heat on SBI in CRB scam
The Central Bureau of Investigation grilled Chain Roop Bhansali for the second day yesterday and picked up disparate threads of information which might, when pursued, implicate top-level bank officials, bureaucrats and even politicians for their acts of commission and omission.
Laloo ready for compromise formula
The news of the Central Bureau of Investigation (CBI) raids yesterday coincided with a chastened Janata Dal chief Laloo Prasad Yadav softening his stand on the leadership issue saying that he was open to all suggestions.
Congman Narayanan may create history
Though the Congress is officially biding time, indications are that it will finally back its partyman, Vice-President K R Narayanan, for the President's post to succeed Shanker Dayal Sharma.
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DoT corporatisation, recast soon
Union communications minister Beni Prasad Verma has said that the government will soon "restructure" and "corporatise" the Department of Telecommunications (DoT) giving it financial autonomy and allow it to tap the domestic and foreign debt market for funds.
Oil India seeks Rs 200-crore loanfrom development board
Oil India Ltd (OIL) plans to seek a Rs 200 crore loan from the Oil Industry Development Board (OIDB) to part-fund its plan expenditure for 1997-98. The company has estimated an outgo of Rs 592 crore this year, of which Rs 404 crore will be financed by internal accruals and the balance from borrowings.
BSE to amend listing agreement
The Bombay Stock Exchange has decided to amend its listing agreement to accomodate certain suggestions put forth by the members of the Registrars Association of India (RAIN).
No personal guarantees to other bourses, rules BSE
The governing board of the Bombay Stock Exchange (BSE) has decided that no exchange member will be allowed to extend personal guarantees to other exchanges. The move may threaten cross-membership between Dalal Street and the National Stock Exchange (NSE).
Jardine Fleming to launch growth and bond funds
Enthused by the success of its maiden tax fund, Jardine Fleming Mutual Fund will soon launch open-ended income and growth funds. The second scheme, Jardine Fleming India Bond Fund, will be launched during this month while Jardine Fleming India Growth Fund will be launched a days later.
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