SPECIAL
Jalan's real message: don't ask for more
The banking system needs to get its act together instead of constantly expecting monetary mollifications, says R Jagannathan.

TOP HEADLINES
• Petrol, diesel prices go up by 2-3 paise
• SBI to cut lending rates from Nov 1
• PetroMin may dispute RIL's oil wells claim
• Tax panel likely to keep rates steady
• HSBC to double India back-office staff by 04
• Apr-Sep fiscal deficit at Rs 57,746 cr
• India eyes bigger slice of S-Asian oil mkt
- - More I Credit Policy: Complete Coverage

CORPORATE HEADLINES
• HPCL posts net profit of Rs 456 crore
• Nocil Q2 loss at Rs 13.76 crore
• Gujarat Gas Q3 net at Rs 11.60 crore
• Aurobindo Pharma Q2 net at Rs 20.52 cr
• Jindal Steel & Power Q2 net at Rs 38.79 cr
• Arvind Mills Q2 net at Rs 29.07 crore
- - More

MARKET REPORT
Sensex gains 61 points; RIL gains 14%
Buying seen almost across-the-board. Tisco, Telco, Satyam, ACC gain. Bhel, HLL, NIIT lose.

SPECIAL
Cuts without conviction
By focusing on rate cuts, this policy continues to operate as if there is one market with a perfectly flexible rate of interest, says Haseeb A Drabu.

INTERVIEW
LIC chief sees room for all players
It will be challenging to maintain growth, retain market share and meet policyholders' expectations, says S B Mathur, chairman, LIC.

'No one will invest just because rates are low'
More than the economy, it is the lack of investment demand that is of immediate concern, says Bimal Jalan, Governor, Reserve Bank of India.

DAILY TECHNICALS
Trading strategy for November 1, 2002
Sensex, BoB, Siemens, Titan, Geometric... Check out what you can do on Friday.

STOCK TALK
'Market may remain sluggish till Budget'
'IT-enabled services sector looks promising. If you have picked good stocks, it will pay,' says Ramesh Shrichand Damani.

READERS' RESPONSE
'Just cutting rates will do no good'
'Have lower interest rates led to any increased credit off-take or greater industrial activity?'
YOUR VIEW: Should interest rates drop?

COLUMN
Who controls the ACC management?
The change in ACC's shareholding pattern raises issues about the role of those who control the management of a company and those who are its promoters, says Paranjoy Guha Thakurta.

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• Feroz Khan gets teacher's award
• More...