The Telegraph
Since 1st March, 1999
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Business Briefs

Stiff rules for co-op bank debut

New Delhi, Oct. 30: In a major ruling affecting the banking sector, the Supreme Court has held that Reserve Bank of India cannot grant banking licence to co-operative societies registered under Multi-State Act without the Nabard declaring it as a state, central or primary co-operative bank. A bench, comprising Justices S. N. Variava and H. K. Sema, gave the ruling.

Export target

New Delhi, Oct. 30: The government today ruled out any downward revision of the 12 per cent export growth target set for this year and was confident that the RBIís credit policy next week will address exporters concerns.

Commerce secy

New Delhi, Oct. 30: In a major bureaucratic reshuffle, textile secretary S. B. Mahapatra is tipped to become the new commerce secretary in place of Dipak Chatterjee who takes over as chairman of the Competition Commission on November 1.

India ranking

Calcutta, Oct. 30: India dropped two places to 56th in the Global Competitiveness Report released by the World Economic Forum.

Nasscom meet

New Delhi, Oct. 30: Nasscom will hold its executive council meeting here tomorrow to take stock on the current scenario on the software front and the challenges lying ahead.

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