Philips now targets 100% stake in India arm
In a curious development, Philips India's Dutch parent Royal Philips Electronics NV has decided to increase its stake in its India arm to 100 per cent from the present 51 per cent.



DoD, Communication ministry agree on privatisaion of VSNL
Two ministries have held several rounds of negotiations on privatisation of telecom utilities following which communication ministry agreed for the process with VSNL, sources said. Discussions are still on between the two ministries on sale of government stake in MTNL.



RBI sore with banks on NPA recovery scheme
Reserve Bank of India is unhappy with the poor results yielded by the compromise settlement scheme, a shortcut method detailed by the Union Government to help banks recover non-performing assets (NPAs).



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