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Business Briefs

Revised time table for T+2

Mumbai, March 4: The Securities and Exchange Board of India (Sebi) has asked depositories to implement revised time table for T+2 rolling settlement cycle from April 1, 2003 and ensure real time online connectivity between them to shift to T+1 mode from April next year. Depositories should also design system for exchanges, clearing house and corporation for online transmission of client-wise pay-in obligations to the depository.

Import norms

Mumbai, March 4: The RBI has decided to allow authorised dealers to open stand-by letters of credit on behalf of their clients importing goods, which are permissible under the exim policy.

Net package

New Delhi, March 4: VSNL has decided to provide marginal discounts on its renewal packs besides introducing a new pack at the entry level for first time users at Rs 105 for a 10-hour duration.

BSNL tariff

New Delhi, March 4: BSNL is likely to file three to four alternative tariff packages for basic telephony services with Trai. There might be no change in the pulse rate of three minutes for calls within the network.

Vanaspati woes

Calcutta, March 4: Vanaspati manufacturers today said that the 8 per cent excise duty on branded edible oil and vanaspati would unleash unhealthy competition with unbranded units and imported products from Nepal.


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