The Telegraph
Since 1st March, 1999
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Business Briefs

RBI draws up exit package

Mumbai, Aug. 11: The Reserve Bank of India will introduce a voluntary early-retirement scheme (VERS) for its employees. “The RBI board has approved the VERS and employees with 25 years of service and those who have completed 50 years of age will be eligible to opt for this scheme,” the apex bank sources said. The scheme was discussed by the unions before it went to the board level, they said.

Glenmark plan

Mumbai, Aug. 11: Glenmark Pharmaceuticals Ltd has proposed to split its equity shares from a face value of Rs 10 to Rs 2 per share. The decision would be taken pursuant to the approval of the members at the company’s ensuing annual general meeting, stated a release issued by the company.

Mukand shares

Mumbai, Aug. 11: Mukand Ltd has restructured its equity base. The company will cancel equity shares worth Rs 5.62 crore and will issue redeemable cumulative preference shares of Rs 10 each to the shareholders.

Silverline arm

Mumbai, Aug. 11: Silverline Technologies Ltd has closed down its two US-based subsidiaries, Silverline Technologies Inc and Seranova Inc, due to ‘accumulated deficits’ from operations and losses on account of write-off of assets.

AirTel offer

Calcutta, Aug. 11: AirTel users in the city will be able to call any international destination for a flat rate of Rs 9.99 per minute for the Freedom Week between August 12 to 17. The entry cost for a Magic pre-paid connection has also been slashed to Rs 149 with pre-loaded talktime of Rs 50 during the week.

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