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Business Briefs

Sebi vigil on stock movement

Mumbai, Aug. 6: Following sharp movements in the stock markets, the Securities and Exchange Board of India (Sebi) has placed its surveillance system in a state of “high alert” to detect any “misconduct” and protect investors interest, Sebi chairman G. N. Bajpai said. “We are watching developments to see if there are any unusual movements in the market which are not based on fundamentals,” he said.

Pension agency

Mumbai, Aug. 6: A regulatory authority for pensions and a central record keeping agency for this sector are expected to become functional by this year end, said U. K. Sinha, joint secretary in the finance ministry.

Tax returns

New Delhi, Aug. 6: Income tax returns can be filed on the internet through intermediaries like ICICI Bank, HDFC Bank, IDBI Bank, UTI Bank, Indian Overseas Bank and Bharat Overseas Bank from August 8 in Calcutta, Delhi, Mumbai, Chennai, Bangalore, Hyderabad and Ahmedabad, an official release said.

Tractor loans

Mumbai, Aug. 6: SBI has tied up with Mahindra & Mahindra to provide cheaper credit to farmers for purchase of tractors and other implements. The bank will offer a concessional interest rate of 11 per cent with one year’s gestation period.

Health card

Mumbai, Aug. 6: HDFC Bank has launched HDFC Bank Health Plus Credit Card — a credit card with affordable healthcare to consumers. It has tied up with National Insurance Co and MasterCard International for this purpose.

Seagate offer

New Delhi, Aug. 6: Seagate Technology and National Insurance Co have joined hands to offer Peace of Mind, an insurance policy for PC users in India. It offers a three-year computer protection for a wide range of PC components, including hard disk drives.

Refinery selloff

New Delhi, Aug. 6: An inter-ministerial group on disinvestment of BPCL and HPCL today reviewed the progress on proposed sale of government stake in the two oil refineries. The IMG is believed to have deliberated on comments received from some of the bidders on government proposal to retain veto power with a nominal stake in HPCL.


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