State Bank bill

New Delhi, May 22: The government today introduced the banking reform legislation aimed at giving more autonomy to the State Bank of India?s subsidiaries for raising authorised capital to Rs 500 crore. The bill, introduced by finance minister P. Chidambaram, allows seven subsidiaries of SBI to raise capital by way of preferential allotment, private placement or public issue. The State Bank of India (subsidiary banks laws) Amendment Bill, 2006, seeks to amend the State Bank of Saurashtra Act, 1950, State Bank of Hyderabad Act, 1956 and the State bank of India (subsidiary banks) Act, 1959.

SEZ meet

New Delhi, May 22: The empowered group of ministers (EGoM) to examine the minimum area required for setting up special economic zones (SEZs) is likely to hold its second meeting tomorrow. The EGoM is expected to discuss the minimum area required to set up SEZs for biotech and non-conventional energy sources.

Hind Zinc

New Delhi, May 22: Hindustan Zinc Ltd has reduced zinc prices by Rs 2,500 per tonne, a 1.34 per cent reduction, to Rs 1,83,400 per tonne from Rs 1,85,900 per tonne. According to sources, it also reduced the prices of lead by Rs 900 to Rs 63,900 per tonne from Rs 64,800 per tonne.

Balco selloff

New Delhi, May 22: Finance minister P. Chidambaram today made it clear that no decision has been taken to sell the government?s 49 per cent residual shares in Balco and a final approval will have to be taken by the cabinet committee on economic affairs.

Port growth

New Delhi, May 22: The government is expecting an investment of Rs 39,149 crore within the next two years in the port sector, with a substantial part of it coming from private players.

Titan issue

Mumbai, May 22: Titan Industries Ltd has raised Rs 126.83 crore through the rights issue of 21,13,038 equity shares and an equal number of non-convertible debentures, which closed with an oversubscription of 20 per cent.

Tax laws

New Delhi, May 17: Parliament today approved the Taxation Laws (Amendment) Bill, 2005 with Rajya Sabha returning the measure by a voice vote.

Jindal Steel

Mumbai, May 22: Jindal Steel plans to expand the production capacity of its lifestyle brand, Artd'inox. The Artd'inox range witnessed a 400 per cent growth in the first three years of its debut in the market.

Small units

New Delhi, May 22: Parliament today passed the micro, small and medium enterprises development bill to further strengthen small and medium enterprises and help them remain competitive in the global market.