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Since 1st March, 1999
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Business Briefs

Call to widen VC funding

Mumbai, Oct. 15: A Sebi panel on venture capital funds (VCFs) has said that VCFs should be allowed to invest in real estate, finance companies involved in equipment leasing and gold financing for jewellery. Seeking the removal of one year “lock-in” condition on shares after listing for venture funds, the panel headed by chief economic advisor Ashok Lahiri today said if favourable opportunities are not taken advantage of then it would take a long time for similar conditions to recur. The panel sought liberal investment norms for VCFs and said they may be permitted to invest in non-banking finance companies involved in equipment leasing and hire purchase.

Credit ratio

Mumbai, Oct. 15: The credit-deposit ratio of all scheduled commercial banks at all-India level stood at 57 per cent as on last Friday of June 2003, RBI said in a release.

Oracle launch

New Delhi, Oct. 15: Oracle India Pvt Ltd has announced the launch of Oracle Standard Edition One in India for SMEs and departments of large firms.

CBM bid

New Delhi, Oct. 15: The government has received 14 bids for the eight coal bed methane (CBM) blocks that have been offered for exploration in the second round. ONGC is in race for six blocks, Reliance Industries for four blocks and Gail for two blocks.

Tea exports

Calcutta, Oct. 15: India’s tea exports between January and August this year declined by 28.34 per cent to 71.54 million kg from 99.83 million kg in the corresponding period last year, the Indian Tea Association said.

CSE board

Calcutta, Oct. 15: Sebi is likely to decide in a week’s time whether to go ahead with supersession of the board of the ailing Calcutta Stock Exchange, said T. K. Das, officer on special duty.

StanChart plan

New Delhi, Oct. 15: Standard Chartered Bank today said it was open to acquisitions and plans to more than double its branch network in the country to 150 by 2006-07. It has identified India as one of its major markets globally.

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