SPECIAL COVERAGE
CHANDIGARH

LUDHIANA

DELHI


THE TRIBUNE SPECIALS
50 YEARS OF INDEPENDENCE
TERCENTENARY CELEBRATIONS

B U S I N E S S

Govt to insure 1 crore families by Oct 2 next
New Delhi, November 2
The government proposes to insure 1 crore poor families by October 2 next year under the "Aam Aadmi Bima Yojna" which was launched on Gandhi Jayanti last month. The insurance is free and 13 states and Union Territories had agreed so far to implement the scheme. Under the scheme, all rural landless households will be provided life and disability insurance cover.

WB okays $944-m loan 
New Delhi, November 2
World Bank president Robert B. Zoellick (R) shakes hands with finance minister P. Chidambaram after the signing of agreements in New Delhi The World Bank today agreed to sanction a loan of $944 million to India for strengthening rural finance system, vocational training programmes and community-based water management projects.

World Bank president Robert B. Zoellick (R) shakes hands with finance minister P. Chidambaram after the signing of agreements in New Delhi on Friday. — Tribune photo by Mukesh Aggarwal 

Inflation dips to 5-yr low
New Delhi, November 2
The headline inflation dropped to a new low in five year to 3.02 per cent for the week ended October 20 as against 3.07 per cent in the previous week, close to the RBI’s mid-term target.

22 NTC mills to be modernised
New Delhi, November 2
The Centre is going to modernise 22 NTC mills at the cost of Rs 540 crore, union textile minister Shankar Sinh Vaghela said here.

Nod to 12 FDI proposals
New Delhi, November 2
Finance minister P Chidambaram today cleared 12 FDI proposals worth Rs 211.66 crore, including that of Rs 159.92 crore proposal of Millennium India Acquisition Company Inc, USA.

Milkfed products in great demand
Chandigarh, November 2
Various Asian markets have shown a lot of interest in various eatables and other items, including rice marketed by Markfed. Besides it, there is a huge demand for milk products prepared by Milkfed in Asian markets. “Punjab can do wonders in the international arena in food products as well as in milk products,” Punjab cooperation minister Capt Kanwaljit Singh said.


A model poses with designer jewellery at the inauguration of India's first jewellery mall in Hyderabad
A model poses with designer jewellery at the inauguration of India's first jewellery mall in Hyderabad on Thursday. The mall has 35 independent shops from across the country. 
— AFP


 
A British supermarket chain Tesco ‘Fresh & Easy’ store is shown ahead of its opening next week in Los Angeles
A British supermarket chain Tesco ‘Fresh & Easy’ store is shown ahead of its opening next week in Los Angeles on Friday. Tesco's launch of convenience stores in the USA this month under the ‘Fresh & Easy Neighbourhood Market’ brand is the most anticipated event in world retail this year. — Reuters

Aircel withdraws from COAI petition
Setback to GSM operators

New Delhi, November 2
In a setback to GSM operators association COAI, engaged in a legal battle against the government over its decision to allow dual technology and higher subscriber-based spectrum allocation norm, mobile operator Aircel today recused itself from the case.

HCL to set up five tech hubs
Noida, November 2
HCL Technologies, the country's fifth largest software firm, yesterday said it plans to invest an estimated Rs 5,000 crore over the next three years for setting up infrastructure at five technology hubs in the country.

China launches crackdown on toy makers
Beijing, November 2
In a major crackdown stemming from product recalls overseas, Chinese authorities have revoked or suspended export quality certificates of more than 700 toy makers in Guangdong province, the official media reported.

L&T boss meets Badal
New Delhi, November 2
Chairman and managing director of Larsen and Toubro (L&T) A.M. Naik today called on Punjab Chief Minister Parkash Singh Badal to discuss ways to boost infrastructure development in the state.

International airport ready
Bangalore, November 2
Bangalore’s infrastructure worries have caught up with the international airport coming up on the outskirts of the city. The airport is slated to be inaugurated by Prime Minister Manmohan Singh on March 29 but the accompanying infrastructure, including a dedicated express highway and a high-speed rail link proposed by the Karnataka government will only materialise in another four to five years.

No hike in air fare for Haj pilgrims
New Delhi, November 2
With an eye on the Gujarat elections, the Congress-led UPA government today decided to keep the air fare unchanged for Haj pilgrims this year, overruling a proposal for Rs 4,000 hike per individual.

After a luxury jet for his wife, Mukesh Ambani gets Rs 245-cr ‘office in the sky’  for himself 
The jet is custom-fitted with an office and a cabin with game consoles, music systems, satellite television and wireless communication

Mumbai, November 2
Business magnate Mukesh Ambani’s new “flying office” worth nearly Rs 245 crore quietly arrived at Mumbai Airport early Friday. The gleaming white-bodied aircraft with blue stripes, has been parked in Reliance’s private hangar near Kalina, the southern end of the domestic airport.


Videos
Flying high.
(56k)
India goes mobile.
(56k)
Indians view US favourably.
(56k)

 

Top











 

Govt to insure 1 crore families by Oct 2 next
Tribune News Service

New Delhi, November 2
The government proposes to insure 1 crore poor families by October 2 next year under the "Aam Aadmi Bima Yojna" which was launched on Gandhi Jayanti last month. The insurance is free and 13 states and Union Territories had agreed so far to implement the scheme.

Under the scheme, all rural landless households will be provided life and disability insurance cover. The premium to be charged under the scheme is Rs 200 per annum per member of which 50 per cent will be contributed by the central government and the remaining by the state governments.

The finance minister has already committed Rs 1,000 crore for this scheme in the budget. He conveyed this to the members of the Parliamentary Consultative Committee attached to his ministry here yesterday.

Chidambaram pointed out that the government had announced a health insurance scheme last month to cover the unorganised sector workers below the poverty line and their family members spread over 5 years. This takes effect from April 1 next year.

The minister said with the increase in per capita income, insurance is now being seen not only as an instrument for risk coverage but also for savings and investments and this trend is clearly visible. Insurance penetration which is a reflection of gross premium as a percentage of the GDP in the past six years more than doubled to 4.8 from 2.3 in 2000. Insurance density which measures the gross premium per capita in US dollar during the same period has gone up from 9.90 in 2000 to 38.40 in 2006.

These figures are comparatively less than those of some of the developed countries and the minister had no doubt that there will be further improvement in the insurance penetration and density.

When members suggested wider insurance cover for the agriculture sector, Chidambaram said in addition to

the National Agriculture Insurance Scheme (NAIS), a weather-based crop insurance scheme has been launched on a pilot basis. The NAIS launched in 1999-2000 covers all farmers who take loans from commercial banks, co-operative banks as well as rural banks. Many innovative products like Varsha Bima, Coffee Insurance, Mango Insurance etc are being developed and implemented in the agriculture sector, Chidambaram added.

Top

 

WB okays $944-m loan 

New Delhi, November 2
The World Bank today agreed to sanction a loan of $944 million to India for strengthening rural finance system, vocational training programmes and community-based water management projects.

According to an agreement signed here, the multi-lateral agency would give $600 million toward boosting rural cooperative credit projects, $280 million for supporting 400 ITIs over four years and $64 million for Karnataka-based water tank management projects.

"The three projects, signed today, reflect Government of India's priority in rejuvenating the rural economy," finance minister P Chidambaram said on the occasion.

The agreement was inked by finance ministry joint secretary Madhusudan Prasad and World Bank country director Isabel Guerrero. World Bank president Robert B Zoellick, who is on a three-day visit to India, was also present on the occasion. 
— PTI 

Top

 

Inflation dips to 5-yr low
Tribune News Service

New Delhi, November 2
The headline inflation dropped to a new low in five year to 3.02 per cent for the week ended October 20 as against 3.07 per cent in the previous week, close to the RBI’s mid-term target.

Though finance minister P Chidambaram was quick to assert that the fiscal and monetary measures initiated by the government and the RBI was responsible for slowing down the inflation, analysts say the low inflation rate for the past several weeks is more due to ‘base effect’.

Inflation in the coming weeks will still be influenced by the ‘base effect’ and a clearer picture on the inflation rate would emerge after the week ending December 2.

The wholesale price index based inflation rate was 5.61 per cent in the corresponding week a year ago.

The annual inflation rate during the current fiscal has dropped from an average 6.28 per cent in April to 3.02 per cent for October 20. However, the same period of 2006-07 saw the inflation figure climb from 3.86 per cent to 5.61 per cent, which means that the falling inflation of this fiscal has come on the back of the rising inflation of the previous fiscal.

This seemingly declining inflation trend does not mean much for the consumer, despite government’s claim that sensible monetary and fiscal policies have finally delivered and reined in the surging inflation, as the inflation rate is calculated on the basis of wholesale price index (WPI), reflecting price movements of 435-odd items.

Therefore, there is bound to be a lot of difference between the WPI and the consumer price index (CPI), which really has the impact on the consumer’s purchasing power.

During the week ended October 20, prices of various items moved in a narrow range. In fact, in most groups, the price index moved up. This implies prices did move up, although at a slower pace.

While food items like maize, arhar, masur and wheat turned expensive, some others like fish marine, bajra and urad turned cheaper.

Among manufactured goods, prices of chemicals and chemical product prices declined while most other items rose. In energy segment, prices of bitumen, naphtha and furnace oil rose.

Expectedly, Chidambaram attributed the fall in inflation to steps taken on the monetary front.

Chidambaram said the CPI-based inflation was also down by 80 basis points in September. The point to point rate of inflation, based on the CPI-IW, has decreased from 7.26 per cent in August to 6.40 per cent in September.

Top

 

22 NTC mills to be modernised
Tribune News Service

New Delhi, November 2
The Centre is going to modernise 22 NTC mills at the cost of Rs 540 crore, union textile minister Shankar Sinh Vaghela said here.

Briefing the ministry's consultative committee, Vaghela said 13 out of the 22 NTC mills are expected to be modernised completely by March and the rest will be modernised by March, 2009.

The minister said after the modernisation, the NTC is projected to produce 600 lakh kilogram of yarn and 250 lakh metre of cloth annually with a turn over of more than Rs 931 crore in the year 2009-10.

In addition to this, the Board of Industrial and Financial Restructuring (BIFR) has also approved the modernisation of 18 NTC mills through joint ventures, Vagehla said and added that two NTC mills in Coimbatore out of the 22 are likely to be dropped from the list because of their improved performance.

The two Coimbatore-based mills would ot be modernised by the NTC itself, Vaghela said and added that the NTC at present is in the process of inviting proposals for joint ventures with private entrepreneurs to modernise and run some of these mills.

The government is aware of the problems being currently faced by the garment exporters in wake of the appreciation of the rupee, Vaghela said and informed the members that the government has revised the duty drawback and DEPB rates, which are bound to benefit the textile sector.

Top

 

Nod to 12 FDI proposals
Tribune News Service

New Delhi, November 2
Finance minister P Chidambaram today cleared 12 FDI proposals worth Rs 211.66 crore, including that of Rs 159.92 crore proposal of Millennium India Acquisition Company Inc, USA.

The proposals were cleared based on the recommendations of Foreign Investment Promotion Board (FIPB) in its meeting held on October 26.

Meanwhile, the FIPB has recommended deferring of the approval to 13 FDI proposals, including that of BAG Films and Media Limited, Noida; Media Transasia India Limited, South-Asia Multi Media Technologies Ltd, Mauritius; Kortel Ltd, Cyprus; Singtel Australia Holding Pte, Ltd, Singapore; and KNOX Holding Pte Ltd, Singapore.

Top

 

Milkfed products in great demand
Sarbjit Dhaliwal
Tribune News Service

Chandigarh, November 2
Various Asian markets have shown a lot of interest in various eatables and other items, including rice marketed by Markfed. Besides it, there is a huge demand for milk products prepared by Milkfed in Asian markets. “Punjab can do wonders in the international arena in food products as well as in milk products,” Punjab cooperation minister Capt Kanwaljit Singh said.

The minister who took part in the food festival at Cologne in Germany recently to probe the market for Markfed and Milkfed products, said dairy products had a huge market not only in Asian countries, but also in Europe where subsidies to dairy sector were being withdrawn keeping in view the WTO guidelines.

“As Punjab can do well in the international arena, a decision has been taken to set up an export cell in Markfed to market its products in the international market, especially Europe. There was need to complete certain formalities before starting export of goods to Europen markets which are very sensitive to pesticides etc. The cell would be given the task to get the remaining conditions fulfilled to start export,” said Capt Kanwaljit Singh.

“My entire focus is now to enhance milk production to give a new dimension to Punjab’s agriculture economy. As milk products have a huge market in the country as well in neighbouring countries and in Europe, setting up new modern dairy farms are being given top priority by my department,” he said.

State cooperative banks had been told to advance loans to farmers to buy hybrid cows. Each of the 1,000 members of milk societies, which were supplying milk to Milkfed, would be given loans to buy at least one cow, he added. Milk supply to Milkfed had gone up by 20 per cent in the past few weeks because of a new programme launched by Milkfed, he added.

He said managing director of Milkfed V.K. Singh had been given target to set up 500 dairy farms by the end of next year. Already, 250 dairy farmers had started working and cases to get loans had been submitted to banks. Loans to the tune of Rs 4.51 crore had been advanced to 58 farmers.

He said there was lot of scope for the export of potato. “I visited Holland which supplied potato seeds to various Asian countries like Pakistan and Sri Lanka. We can perform this task,” he added. However, there were some hurdles, including non-tariff barriers which would have to be crossed before entering into the European market for export purposes, he added. 

Top

 

Aircel withdraws from COAI petition
Setback to GSM operators

New Delhi, November 2
In a setback to GSM operators association COAI, engaged in a legal battle against the government over its decision to allow dual technology and higher subscriber-based spectrum allocation norm, mobile operator Aircel today recused itself from the case.

During the proceedings of the Telecom Disputes Settlement and Appellate Tribunal (TDSAT), Aircel's counsel informed its decision to withdraw itself from the suit.

GSM operators have been hit hard by the DoT decisions to allow cross-over technology to GSM and CDMA operators on a single licence as well as substantial hike in the number of subscribers for allocation of additional spectrum.

The COAI yesterday had said it would file more than one affidavit in the TDSAT shortly on the TEC report which recommended further enhancement in subscriber base for additional spectrum allocation.

Spice to decide before Nov 12

B.K. Modi-promoted Spice Communications will decide before November 12 whether it will pull out of the COAI's petition in the TDSAT, where the association has challenged the government's decision allowing dual technology use and enhanced subscriber-based spectrum allocation.

"We have not yet taken any decision (to pull out of the COAI petition)... studying the situation. We feel there are different views in COAI. Everybody is playing differently.

Sunil Mittal has written a letter on his own to the government. We want to resolve the matter. We are here to serve the customer, not to indulge in litigation", BK Modi said. — PTI

Top

 

HCL to set up five tech hubs

Noida, November 2
HCL Technologies, the country's fifth largest software firm, yesterday said it plans to invest an estimated Rs 5,000 crore over the next three years for setting up infrastructure at five technology hubs in the country.

The first technology hub, inaugurated by commerce minister Kamal Nath, is looking to export Rs 4,000 crore worth of services annually after five years. The new hub will develop cutting edge technologies in media and home entertainment services.

Overall, the IT company is expecting 30 per cent growth in its revenue every year for the next five years. It had around $2 billion in revenues last year.

The company is also planning to set up similar hubs in other cities such as Bangalore, Chennai, Hyderabad, Lucknow, Coimbatore, Manesar, Madurai and Nagpur with investments in the range of Rs 1,000 crore each in infrastructure, HCL Technologies chairman Shiv Nadar told reporters.

Investments in technology would vary in individual hubs depending on the kind of technology it caters to, Nadar said.

These hubs will together employ 1 lakh persons in the next seven years, he said.

Besides, the company will operationalise a technology hub in Poland next month to cater to financial services market in Europe. It will also set up such a hub in the United States, Nadar said but refused to give timeframe and the name of city where the centre will come up. — PTI

Top

 

China launches crackdown on toy makers

Beijing, November 2
In a major crackdown stemming from product recalls overseas, Chinese authorities have revoked or suspended export quality certificates of more than 700 toy makers in Guangdong province, the official media reported.

Officials have also asked many other toy factories to renovate their facilities, said the Quality Technology Supervision Administration of Guangdong, which conducted a province-wise investigation into the quality of food and other products also.

Officials investigated 1,726 toy factories, almost 85 per cent of the province's total, that had obtained quality certifications for exports but because of "various quality problem", 764 toy makers had their certificates revoked or suspended, the official China Daily said. A further 690 factories were ordered to renovate their manufacturing facilities and improve product quality within a specified timeframe, in a campaign that involved more than 200,000 officials and cost $1.9 million.

Toy making is a multi-billion dollar industry in Guangdong province which contributes a lion's share to China's toy exports.

China's toy industry's image has taken a beating in recent months following a spate of recalls over the quality issue, exemplified by the worldwide pulling out of more than 21 million Chinese toys by US' Mattel Inc. — PTI

Top

 

L&T boss meets Badal
Tribune News Service

New Delhi, November 2
Chairman and managing director of Larsen and Toubro (L&T) A.M. Naik today called on Punjab Chief Minister Parkash Singh Badal to discuss ways to boost infrastructure development in the state.

Badal's media adviser Harcharan Bains said the meeting was part of a series of preliminary, exploratory and general interactions with the investors. He said infrastructure develoment in the state was on the agenda of the meeting.

Bains said the meeting was in response to the Chief Minister's public invitaion to all major infrastructure development companies and investors to have a stake in the development of the state as the climate for investment was ideal to tap opportunities through public-private particpation. 

Top

 

International airport ready
Jangveer Singh
TNS

Bangalore, November 2
Bangalore’s infrastructure worries have caught up with the international airport coming up on the outskirts of the city. The airport is slated to be inaugurated by Prime Minister Manmohan Singh on March 29 but the accompanying infrastructure, including a dedicated express highway and a high-speed rail link proposed by the Karnataka government will only materialise in another four to five years.

The trumpet flyover to come up on National Highway-7, the only road linking the international airport with the city, has been hit with a snag and may not be ready by March. A ramp, leading into the airport, may be ready by the end of next year only, ensuring there won’t be any smooth entry into the airport even nine months after it becomes operational.

Bangalore International Airport Limited CEO Albert Brunner summed up the situation at a round table meeting of stake holders and the industry by saying he was being blamed for doing his job i.e.completing the airport project on time.

Brunner lamented the casual manner in which contracts were awarded by the state government for upcoming infrastructure.

The government officials have explanations but no answers. Infrastructure secretary VP Baligar said the expressway had been delayed due to finalisation of its alignment. He said similarly some clearances were still due and the Rs 3,700-crore high speed rail link between MG Road and the airport was still a non-starter. 

Top

 

No hike in air fare for Haj pilgrims
Tribune News Service

New Delhi, November 2
With an eye on the Gujarat elections, the Congress-led UPA government today decided to keep the air fare unchanged for Haj pilgrims this year, overruling a proposal for Rs 4,000 hike per individual.

“The union cabinet, chaired by Prime Minister Manmohan Singh, did not agree to any increase in fares for the Haj pilgrims, which will continue as earlier,” minister for information and broadcasting P R Dasmunsi said.

The proposal was to increase the return airfare from the present Rs 12,000 to Rs 16,000 following a steep hike in global fuel prices and the imposition of a 50 Riyal per pilgrim tax by the Saudi Arabian government. The current fare of Rs 12,000 has been prevalent since 1994.

Dasmunsi informed that Varanasi would also be included as a point of embarkation for Haj.

Observing that UPA government attached highest emphasis on defence of the minorities besides implementing the Sachar Committee recommendations, he said UPA chairperson Sonia Gandhi and the Prime Minister have assured that the pilgrims should not be burdened with extra fares.

Of the 1.1 lakh pilgrims, 59,000 would be carried by the Saudi Arabian airlines from Mumbai, Delhi, Ahmedabad, Hyderabad, Chennai and Bangalore. The remaining pilgrims would travel by Air India from Lucknow, Kolkata, Kozhikode, Nagpur, Aurangabad, Patna, Guwahati, Jaipur, Srinagar and Varanasi, he said.

Dasmunsi said the overall subsidy would increase from Rs 343 crore to Rs 368 crore.

The air fare for the round trip to Jeddah and Madina would remain at Rs 12,000 and the balance would be borne by the Centre as subsidy, he said.

Top

 

After a luxury jet for his wife, Mukesh Ambani gets Rs 245-cr ‘office in the sky’  for himself 
The jet is custom-fitted with an office and a cabin with game consoles, music systems, satellite television and wireless communication

Mumbai, November 2
Business magnate Mukesh Ambani’s new “flying office” worth nearly Rs 245 crore quietly arrived at Mumbai Airport early Friday. The gleaming white-bodied aircraft with blue stripes, has been parked in Reliance’s private hangar near Kalina, the southern end of the domestic airport.

The Airbus A-319 aircraft, described as a “flying palace” by airport officials in the know, has been given the registration number VT-IAH.

(A newspaper said, earlier in the day, Mukesh had bought his wife a luxury jet with entertainment cabins, a sky bar and fancy showers for her birthday, Ambani gifted the $60 million Airbus plane to wife Neeta on her 44th birthday on Thursday, Mumbai Mirror said. The jet is custom-fitted with an office and a cabin with game consoles, music systems, satellite television and wireless communication, the report said.)

Kept under tight security, it is off bounds for all, except the concerned airport, security and Reliance personnel, the officials told IANS.

In a special gesture to Mukesh, who stands now 14 on the Forbes list of the world’s billionaires, a top Airbus Industrie official personally flew down in the aircraft to “hand” it over to the Reliance big boss, aviation sources said.

Though a Reliance spokesperson in Mumbai remained “unavailable” for an official version, independent sources said that the customized jet was expected last April.

Originally, it was accepted as a ‘green delivery’, meaning that the aircraft was taken absolutely bare without any of the usual trappings. “It is akin to buying a bare skeletal flat without even the tiles or paint and then getting it done as per your choice,” the sources explained.

Later, a team of experts guided by Reliance officials planned out its complete customisation at the Associated Air Centre, Dallas, US.

Among the top-class facilities the aircraft has been equipped with include a plush corporate office, a boardroom for holding top-level meetings in the sky, satellite communications, a master bedroom with an attached toilet, galleys and a lounge with a sky-bar.

All this has cost an estimated US $15 million (about Rs 60 crore), in addition to the aircraft cost.

The delivery of the aircraft was scheduled end-April 2007. However, aviation sources say, it was delayed mainly because of the lavish interiors that have been done.

But, it proved to be a blessing — it happily coincided with wife Nita’s birthday on Thursday.

This will also make Mukesh among the four-dozen odd Indian corporate bigwigs who now own their private corporate aircraft, either 8-seater jets or helicopters.

“But a private jet of the size of A-319, which is usually a 100-120-seater operated by the passenger fleet of Kingfisher Airlines and Air Deccan, is owned only by another Indian, Vijay Mallya,” the sources explained.

Among the other prominent owners are: Tata group with three aircraft, Raymond with one aircraft and three choppers, Larsen & Toubro one aircraft, Mallya two, including an 8-seater, Oberoi Hotels group a private jet based in Delhi and racing enthusiast Cyrus Poonawala of Mumbai. — IANS

Top

 
BRIEFLY

RPG Group
New Delhi, November 2
RPG Group will invest Rs 1,000 crore in the next one year to expand its mobile and laptop retail chain, run by RPG Cellucom India - a master-franchisee of Dubai-based Cellucom. RPG Cellucom India will open 400 new stores by December next year targeting Rs 2,500 crore turnover by March 2009. — PTI

Titan Inds
Patna, November 2
Titan Industries has announced the launch of ‘Titan Heritage Collection’. The design of every watch in the collection emerges from stories told by the monuments of India. Award winning designer Abhijit Bansod is the designer of the collection. — UNI

L&T pact
Mumbai, November 2
L&T and US-based Gulf Interstate Engineering Company will form a joint venture company to provide project management services to hydrocarbon pipeline industry. L&T has entered into a joint venture with Gulf Interstate in this regard. The new venture - L&T-Gulf Pipeline Engineering Pvt Ltd would be located at Faridabad. 
— PTI

Polaris centre
Chennai, November 2
Chennai-based Polaris Software Lab, a global technology solution provider, has announced the setting up of a unit in collaboration with the North South Wales Government in Australia. The Sydney lab will service financial services, banking, insurance and service sectors. — TNS

UB (Holdings)
Chandigarh, November 2
United Breweries (Holdings) Limited has announced that it has secured an ex-parte order of temporary injunction in a suit that was filed by it seeking relief against the website www.indianracing.in for running a website with a domain name that is deceptively similar to the website www.indiarace.com ,owned by United Breweries (Holdings) Limited. — TNS

Unilever JV
New Delhi, November 2
Hindustan Unilever Limited had said it would set up a joint venture with Smollan Holdings of South Africa to build long-term capabilities and bring 'in-store' execution focus for servicing modern trade customers. The joint venture will be operational from January 1. — PTI

PNB camp
Bilaspur, November 2
Punjab National Bank organised a retail lending camp in which an amount of Rs 2.6 crore was disbursed to 152 customers drawn from all parts of district here yesterday. PNB district coordinator Kiran Suri said these loans have been provided under various schemes of the bank, including education, housing and small scale industries. — OC

NTC mills
New Delhi, November 2
The Centre is going to modernise 22 NTC mills at the cost of Rs 540 crore, union textile minister Shankar Sinh Vaghela said, adding that 13 out of the 22 NTC mills are expected to be modernised completely by March and the rest will be modernised by March, 2009. — TNS

Top

 



HOME PAGE | Punjab | Haryana | Jammu & Kashmir | Himachal Pradesh | Regional Briefs | Nation | Opinions |
| Business | Sports | World | Mailbag | Chandigarh | Ludhiana | Delhi |
| Calendar | Weather | Archive | Subscribe | Suggestion | E-mail |