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Interest rates on small savings slashedNEW DELHI: Government today reduced interest rates on certain small savings schemes to bring about...

Interest rates on small savings slashed

NEW DELHI: Government today reduced interest rates on certain small savings schemes to bring about parity with the public sector banks and financial institutions which offer lower interest for similar schemes.The interest rate on post office savings account will now be 4.5 per cent, post office time deposits for one, two, three and five years will now be 9, 10 and 11.5 per cent respectively, an official press release said.

Airport projects

BANGALORE: Prime Minister A B Vajpayee today said the Government had decided to permit 100 per cent foreign equity participation for development of new airports in the country and evolve a new set of regulatory guidelines to expedite clearance of projects.

New Defence Secy

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NEW DELHI: T R Prasad, a 1963 batch IAS officer of Andhra Pradesh cadre, today took over as the new Defence Secretary. Prasad, who was earlier Secretary, Industrial Policy and Promotion, has swapped places with Ajit Kumar, the previousDefence Secretary. Kumar, who belongs to the 1964 batch of IAS from Punjab cadre, was shifted to Industrial Policy and Promotion on Wednesday when the Government took the unprecedented decision to sack the naval chief, Admiral Vishnu Bhagwat.

1 killed in firing

MANGALORE: One person was killed and four persons were injured in police firing and five wounded in stabbing cases here today, as the violence sparked by a clash between two communities at Surathkal, near here, on Wednesday, continued. Surathkal DGP said five persons were injured when police opened fire at an unruly mob in Bunder area here. 3 cops killedGUWAHATI:THREE policemen were killed and four others seriously injured by suspected National Democratic Front of Bodoland (NDFB) militants in Assam’s Kokrajhar district today, official sources said here.

Jammu curfew

JAMMU: Night curfew was today imposed on a five km stretch along the Indo-Pak border in Jammu district for two months for security reasons.