Briefly Business

After cancelling NTPCs five coal blocks last week,the coal ministry is likely to warn the company of deallocated two more fields if they are not developed immediately.

Govt may warn NTPC of another two coal blocks

New Delhi: After cancelling NTPCs five coal blocks last week,the coal ministry is likely to warn the company of deallocated two more fields if they are not developed immediately. We will soon send letters to National Thermal Power Corporation warning and directing them to develop Pakri Barwadih and Talaipalli coal blocks, an official in the Coal Ministry said.

PM to review coal,power projects on July 1

New Delhi: Concerned over delays in execution of projects due to inter-ministerial differences,Prime Minister Manmohan Singh has called a high-level meeting to resolve issues like coal shortages and environment clearances with the respective ministers on July 1.

Govt may allow foreigners to invest 10 bn in MFs

New Delhi: India is likely to allow foreign individuals to invest in mutual funds in the next two weeks but with a cumulative cap of 10 billion,an official said Sunday. The detailed guidelines are being worked out jointly by the finance ministry,RBI and Sebi.

BHEL set to hire 25,000 in next five years

New Delhi: State-run power equipment maker BHEL will hire 25,000 people over the next five years to take its total headcount to 55,000. We have already hired 15,000 people in the past four years and we aim to recruit 5,000 people every year for the next five years, CMD BHEL B P Rao told PTI in an interview.

11 mn mobile subscribers opt for MNP in 8 months

New Delhi: As many as 11 million mobile subscribers have opted for changing their operators in the last eight months or so,with CDMA operators witnessing the maximum users shifting to the GSM platform.

1.29 million customers data stolen from Sega

Tokyo: Hackers have stolen personal data of some 1.29 million customers of the Japanese game maker Sega,the company said on Sunday,in a theft via a website of its European unit. The Sega Pass website,operated by London-based Sega Europe,did not contain credit card information,the Japanese firm said.

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BOI to enter MF sector; in talks with Bharti AXA

Padgha: Bank of India is in talks with Bharti Axa and two other asset management companies for an entry into the mutual funds business and hopes to seal the deal before end September. We are in talks with Bharti AXA and two other companies. We will announce it before end of the next quarter, CMD,Alok Misra said.

I-T probes tax violations by charitable trusts

New Delhi: The Income Tax department has begun a countrywide investigation of charitable and religious trusts that have been found violating tax exemption rules and are using donation funds for business purposes.

Annual medical check-up expenses to be tax exempt

New Delhi: The government has said employees would no longer have to pay income tax on money drawn from welfare funds for annual medical check-ups. The CBDT has issued a notification in this regard.

Tighter but uniform KYC norms in offing

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New Delhi: The Finance Ministry has begun an exercise to make identification norms uniform and more stringent for capital market players like FIIs,MFs and brokerage customers.