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[Grapevine] For 11 Sep, 2002



Title: The Mumbai Grapevine
The Mumbai Grapevine Connecting Mumbaikars with Mumbai
(Published by Mumbai-Central.com)
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Headlines
News:
Jammu and Kashmir Minister among seven killed in Srinagar
Rajdhani mishap toll mounts to 90, may exceed 100 mark
Nitish Kumar refuses to discuss accident cause
UK to devise Britishness test for immigrants
Annual session of General Assembly opens
Jailed bandit to play lead role in film
Thackeray to see 'Ek Chhoti Si Love Story'
Inflation to rise to 4.3 per cent owing to drought
Fernandes for pvt sector to play bigger role in armament prod
RBI to introduce risk-based supervison for banks
Petrol, diesel may cost more due to spurt in crude oil prices
Mini World Cup beginsThursday with Lanka-Pak match
India to do well in Mini World Cup : Ganguly
Indian girls pull off sensational win over Germany
Dope test to be introduced at cricket World Cup


Markets:
Sensex: 3125.66, +36.19




Forex, Metals and Weather below

News
Jammu and Kashmir Minister among seven killed in Srinagar
Srinagar,Wednesday, September 11, 2002: Jammu and Kashmir Minister Mushtaq Ahmed Lone and six others were killed by militants in a grenade attack and gun fire at an election rally in Kupwara district lending a big blow to peaceful elections in the state starting September 16. A burqa-clad militant, sitting in the ladies enclosure at the rally, lobbed a grenade and later fired indiscriminately towards the dais from where Lone was addressing the audience.

Simultaneously, his other accomplices resorted to random firing in which the Law and Parliamentary Affairs Minister, his five security guards and a civilian were killed.

Twelve persons were injured with four of them in critical condition.

The attack took place at around 1300 IST (0730 GMT) at Rednag village, 105-kms from here, and comes close on the heels of spate of militant attacks in the run-up to the four phased elections.

A little-known militant outfit Al-Arfeen claimed responsibility for the incident. A caller identifying himself as Abu Vikas, called up two local news agencies, NAFA and Kashmir Press Service, claiming responsibility for the dastardly attack besides warning that candidates would face similar attacks.

However, senior police officials claimed that the outfit was an assumed name of Lashker-e-Taiba who have been adopting this tactics in a bid to avoid pressures from the world community.

A seriously injured Lone, who was seeking re-elections, was rushed to nearby hospital where he was declared brought dead by doctors.


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Rajdhani mishap toll mounts to 90, may exceed 100 mark
Rafiganj (Bihar),Wednesday, September 11, 2002: The death toll in the Howrah-New Delhi Rajdhani Express disaster mounted to 90 today with rescuers pulling out ten more bodies from the mangled AS-2 bogie even as authorities expected the toll to cross the 100 mark.

Aurangabad's District Magistrate S Siddharth told PTI at the accident site that 10 more bodies were pulled out of the twisted coach AS-2, the last one being cut open by rescue personnel of the army and railways.

He said the coach had around 35 passengers and there was little chance of their survival 36 hours after the accident.

Altogether 50 bodies have been handed over to the relatives of the victims after identification so far, he said.

The train was running at a normal speed of 120 to 130 kmph with 528 listed passengers and about 60 railway staff when it derailed on a rail bridge over river Dhave at 10.43 pm, Monday.


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Nitish Kumar refuses to discuss accident cause
New Delhi,Wednesday, September 11, 2002: After raking up the sabotage theory for the derailment of the prestigious Rajdhani Express in Bihar, Railway Minister Nitish Kumar today refused to discuss the issue after a meeting with Deputy Prime Minister L K Advani. The Safety Commissioner has already started an inquiry into Monday's mishap and it would not be correct to say anything till its report was available, Kumar said after a hour-long meeting with Advani to apprise him of the progress in relief and rescue operations.

Asked about the Bihar government expressing doubts over the sabotage theory, he said the ministry was not not interested in starting a debate with the State over the issue. "We have advised the Bihar government to practice restraint."

Railway Board Chairman I I M S Rana, Home Secretary Kamal Pande and Intelligence Bureau Chief K P Singh were also present at the meeting.


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UK to devise Britishness test for immigrants
(PTI)

LONDON: Britain has appointed a team of experts to devise a 'Britishness' test to be taken by all immigrants wishing to be granted its citizenship, with an aim to promote language skills and practical knowledge about the country.

The team, which would devise the test, has been asked to draw up a syllabus on UK society and civic structures.

British Home Secretary David Blunkett, who appointed the team comprising two academics, an education officer, a teacher and a former social worker, said he hoped the tests would help to "promote language skills and practical knowledge about the UK for those seeking to become British citizens."

The plans form part of the Nationality, Immigration and Asylum Bill, which is before the House of Lords.

"The Government intends to make gaining British citizenship meaningful and celebratory rather than simply a bureaucratic process," Blunkett said.

When Blunkett was Education Secretary he made Professor Crick chairman of the Advisory committee on Citizenship in Education, which he created as he was anxious about poor levels of political knowledge.

He also commissioned the professor to write the first report for government on citizenship education in 40 years.


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Annual session of General Assembly opens
United Nations,Wednesday, September 11, 2002: The 57th annual seesion of the UN General Assembly has opened with its new President urging world leaders to intensify the campaign to combat global terror and calling for an early adoption of a comprehensive treaty against terrorism. "We must focus on the fight against international terrorism and uphold our international coalition, new President Jan Kavan told reporters before the start of the session which began on the eve of the anniversary of the Septemeber 11 terror strikes.

Building on the existing 12 international conventions against terrorism "must be central to our work," he said, adding "we lack a general convention, including a defination of terrorism" and urged member states to continue work in the Assembly's sixth committee to that end.

On Bush administration's position that Iraqi President Saddam Hussein should be toppled, he replied hoped Baghdad would agree to admit inspectors and fulfill the Security Council resolutions, "leading to a situation where military action would not be necessary,"

More than one hundred heads of state, prime ministers and foreign ministers would participate in the two-week session. US President George W Bush will set the tone for the debate in his address to the 190-member Assembly tomorrow. His speech is expected to focus on what the US says is the threat of Iraq's drive to acquire weapons of mass destruction.

Prime Minister Atal Bihari Vajpayee will address the Assembly on Friday when he is expected to call on world democracies to unite to fight the scourge of terrorism and speak on cross border terrorism.


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Jailed bandit to play lead role in film
A notorious woman bandit in India is to star in a full-length feature film made on her life.

Seema Singh Parihar has signed up to play the lead role in a Bollywood film despite being in jail.

She was a mistress of dacoit chief Lalaram - former Bandit Queen Phoolan Devi's arch rival - who was killed in an armed encounter with police two years ago.

The movie, called 'Seema Bani Dacoit', is being produced and directed by Yash Chauhan, a Bombay-based director, reports the Hindustan Times.

Ms Parihar reportedly gave permission for the production of the film on the condition that she was allowed to play herself.

She said: "I made it clear that the only way they could make a movie on me was by letting me play my character."

The dreaded dacoit, who is currently in jail on charges ranging from robbery to murder is believed to have killed over 70 people during her 15-year reign in the Chambal ravines.

The bandit who is known for her excellent shooting skills, is said to be fond of good clothes and was known to wear costly perfumes and lipstick with her favourite shades even while on the run from the police.

Ms Parihar, who reportedly nurses political aspirations, and says she is likely to be granted amnesty by the state soon, has been offered a ticket to the next Parliamentary elections by the Hindu right wing Shiv Sena party, which recognises her as a 'nationalist' and a 'patriot'
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Thackeray to see 'Ek Chhoti Si Love Story'
MUMBAI: The ongoing spat between actress Manisha Koirala and director Shashilal Nair over certain scenes in Chhoti Si Love Story should not be dragged any further and must be resolved amicably, feels Shiv Sena supremo Bal Thackeray.

"Balasaheb wants this controversy to end now. There is no point in dragging it any further and must be resolved peacefully", Sena MP Sanjay Nirupam said here Tuesday.

Earlier in the day, Thackeray met Nair, producer-director of the film, after the latter insisted for a meeting.

"The Sena patriarch also summoned Manisha as he wanted both the parties engaged in a row to sit across the table and resolve the matter", Nirupam, who was present at the meeting, said.

Manisha, who plays the protagonist in the movie, stirred a hornet's nest after she expressed her objection to certain scenes filmed on her body double.

The Sena chief advised Nair to delete the scenes which have been found objectionable by the actress, Nirupam said.

However, Nair insisted that the Sena chief should see the film first and then he was prepared to "do whatever asked for".

Thackeray would now watch the movie at Rajkamal studio on September 12 at a special screening, the Sena MP said.
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Inflation to rise to 4.3 per cent owing to drought
New Delhi,Wednesday, September 11, 2002: Inflation is forecast to go up to 4.3 per cent in the next 3 months, up from the present 3.4 per cent on account of high growth in money supply coupled with increase in prices of food and primary articles due to drought in some parts of the country.

"Based on the available formation, we forecast inflation rate (based on wholesale price index) for the next three months beginning September to be 4.37, 4.32 and 4.23 per cent respectively," the Institute of Economic Growth said here in its latest report.

Prices are expected to rise on account of likely increase in the prices of primary and food articles followed by a deficit in monsoon, hike in prices of petrol and diesel and abundant liquidity in the market.

However, increase in the industrial production may curtail the sharp increase in the prices to some extent, it said.

The Institute has forecast the Consumer price index based Inflation rate for the next three months as 3.78, 3.68 and 3.58 per cent respectively.

Increase in the prices of fuel, primary articles and manufactured products by 5.6, 2.4 and 2.4 per cent respectively has led to the surge in wholesale prices.

The prices of edible oil and iron and steel increased by 15.1 and 6.8 per cent respectively while the prices of sugar products and cement declined by 6.3 and 3.3 per cent respectively, it said.

Contrary to this trend, the inflation rate based on CPI (industrial workers) has shown a marginal decline from 4.1 per cent in June to 3.9 per cent in the month of July, it added.


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Fernandes for pvt sector to play bigger role in armament prod
New Delhi,Wednesday, September 11, 2002: Calling upon the private sector to forge strategic consortiums and play a bigger role in armament production, Defence Minister George Fernandes today asked them to be partners in the ambitious project to expand the assembly lines of the state-owned Hindustan Aeronautics. Lamenting that HAL, despite keen interest from abroad on its products like the Advance Light Helicopters (ALH) was not able to cope with mass production or series production of India's indigenous aero products, Fernandes said that private companies consortiums could come forward as partners in expansion of the public sector undertaking.

He said such a consortium approach, which were key word in western industry, could enable India to enter export markets for products like ALH and Light Combat Aircraft and also be a sequel to similar partnerships on development of futuristic weapons systems.

Addressing captains of the industry at a CII seminar on 'Defence-Industry parternship; Taking Stock', the Minister told the private sector in play a bigger role in manufacture of weapon spares, which were directly needed by the armed forces.

Reffering to the LCA project, Fernandes said three more prototype of the aircraft would be test flown next year, while assuring that the fighter would enter into service soon.

"We have reached a point where we are conducting all the tests we need" he said as he called on the private industry to come forward by taking up manufacture of LCA components and compisites.


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RBI to introduce risk-based supervison for banks
Mumbai,Wednesday, September 11, 2002: Reserve Bank of India will introduce risk-based supervision (RBS) for banks in phases and put in place a prompt corrective action (PCA) mechanism when banks breach certain specified trigger points of capital adequacy, return on assets and non-performing assets. The PCA would be introduced by end of this financial year and penalties for breaching norms could be stiff like removal of chairman, board of directors and liquidation of banking entities, RBI deputy govenor G P Muniappan told reporters on the sidelines of a banking seminar, organised by FICCI on +Indian banking: global benchmarks+ here today.

Before launching the scheme (PCA), +we will conduct the assessment of impact based on previous data of few banks+, the deputy governor said.

A RBI group is addressing the transitional and management issues to ensure a smooth switchover to RBS, based on the recommendations of PricewaterhouseCoopers of London, he said.

The RBS model consists of development of a risk profile and designing a customary supervisory action plan for each bank, delineating the scope and extent of supervision to target high risk areas and strengthening quality assurance and enforcement functions to maintain objectivity and neutrality in application of supervisory standards, he said.

On banks turning into universal banking entities, Muniappan said such banks cannot become order of the day as many issues like protection to investors and swap ratios have to be dealt with, he said.


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Petrol, diesel may cost more due to spurt in crude oil prices
New Delhi,Wednesday, September 11, 2002: The recent spurt in crude oil prices may translate into a hike of Rs 2 per litre in domestic petrol prices and Re one per litre hike in diesel prices. Crude prices have spiked to recent highs of 29 dollars a barrel in wake of reports that US was preparing to strike Iraq. "If the trend continues, the next price revision due on September 15 could see a steep hike in petrol and diesel prices," official sources said.

While the August 31 increase in petrol and diesel prices by 22 paise per litre and 29 paise per litre respectively were based on average diesel price of 27.02 dollars per barrel and petrol prices of 26.80 per barrel, international prices have appreciated by 3-7 per cent.

During the first ten days of this month, average diesel prices have been 28.12 dollars a barrel (3.7 per cent increase) and petrol prices averaged 28.29 dollars a barrel (7.46 per cent increase), sources said.

Petrol in Delhi is currently priced at Rs 29.20 per litre while a litre of diesel costs Rs 18.34.

After the dismantling of Administered Pricing Mechanism (APM), state-owned retailing firms fix petrol and diesel prices every 15-days based on the average price of that fortnight.

Sources said Finance Ministry will consider cuts in excise and customs duties later this month if the current trend in global crude oil prices continues.

Reduction in duties on crude and product would reduce the impact of spurt in international prices on domestic consumers.


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Mini World Cup beginsThursday with Lanka-Pak match
Colombo,Wednesday, September 11, 2002: The ICC Champions Trophy will get off the blocks here Thursday in an upbeat atmosphere electrified by India's eleventh hour confirmation on sending its best team, as hosts Sri Lanka open their campaign with a day-night encounter against Pakistan at the Premadasa Stadium. Sourav Ganguly's India, fresh from levelling a Test series and a pulsating victory in the three-nation NatWest one-day series in England, will be counted as one of the favourites, and will be eager to make up for a defeat at the hands of New Zealand in the last ICC trophy final in Nairobi in 2000.

India play Zimbabwe on September 14 and England on September 22. Front-runners Australia have to live down memories of being knocked out in the first round in both the previous editions by India in Dhaka and Nairobi, while Sri Lanka, with home-ground advantage, are keen to extend their resurgent fortunes after winning a tri-series against South Africa and Pakistan at Tangiers, Morocco recently.

The tournament, with a total prize money of 1.15 million dollars, is largely seen as a prelude to next year's World Cup in South Africa.

It seemed set until two days ago to be mired in controversy over contracts that the International Cricket Council wanted participating players to sign, but was salvaged by a belated agreement on players' terms.


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India to do well in Mini World Cup : Ganguly
Mumbai,Wednesday, September 11, 2002: Describing India's just concluded trip to England as the "best overseas tour in the last six years", skipper Sourav Ganguly was confident of his team's success in the ICC Champions Trophy in Colombo. "We have been winning one-day series and I can't think why we cannot do well in the Champions Trophy," Ganguly said after the team arrived here in the early hours today.

On India's chances of winning the trophy in Colombo in the September 12 to 29 tournament, Ganguly said "We will worry about it when we reach Colombo. As of now the players need rest".

"We have been travelling for the last 24 hours and I would not like to say anything more about the Champions Trophy now."

Regarding the solution of the ICC's controversial sponsorship issue where the international body accepted the Indian players' proposal at the last minute, Ganguly said: "It was not a victory to anybody and we are happy the matter was settled amicably at the last moment".

Reviewing the performance in England, the skipper rated it as India's best overseas performance in the last six years.

"We played pretty well on this tour. We won the NatWest triangular series handsomely and then came back well, after losing the first Test, to square the series one-all and I think this was the best performance by us outside India in the last six years.


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Indian girls pull off sensational win over Germany
New Delhi,Wednesday, September 11, 2002: India pulled off a sensational 2-1 win over sixth seeds Germany in a second round Group III tie of the Junior Fed Cup tournament at La Baule, France, Tuesday. With Sania Mirza struggling to find her rhythm, the onus was on Ankita Bhambri who did her job in style defeating Melanie Hafner 6-4 6-2 in the first match, according to informations received here.

But the Germans levelled through Tatjana Malek who registered a 6-4 6-1 victory over Sania. The Indian was 3-1 up in the first set but then lost concentration to lose the match.

It was then boiled down to the doubles match which Ankita and Sania won with relative ease.

Carmen Klaschka and Tajana Malek, down 2-5 in the first set, fought back to level it 5-5.

But soon they ran out of steam to concede eight straight games to lose the match 7-5 6-0.

In the last league match to be played later today, India take on Korea, the fourth team of the group, whom they had beaten 3-0 in the regional qualifying at Jakarta.


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Dope test to be introduced at cricket World Cup
COLOMBO: Drug testing for senior cricketers will be introduced for the first time during next year's World Cup, the game's chief administrator said Wednesday.

"A doping policy on the international sporting guidelines will come into effect during the World Cup," Malcolm Gray, the International Cricket Council president, told reporters. Testing for performance-enhancing drugs was introduced for under-19 cricketers this year, Gray said.

Gray cautioned players against breaching the international doping regulations for sportsmen.

"It's generally recognized that cricket is a low risk sport in context with doping, but we've got to ensure the game's name does not get smeared by any violations," Gray said on the eve of the 12-nation Champions Trophy that begins Thursday in the Sri Lankan capital, Colombo.

The limited-overs Champions Trophy precedes the World Cup to be played in South Africa, Zimbabwe and Kenya in February-March. Sixteen nations will participate in the tournament.

"The list of banned substance for sportsmen has been circulated to all competing nations," he said. "We don't want any breach of the drug policy spoil the showpiece event."

"The ICC's doping policy for the World Cup meets the mandatory requirements of the South African government," Gray said. He said some players might be taking some banned drugs in the absence of a doping policy. But they will have to scrutinize their medication well before the World Cup.

"We'll be watching things closely at the World Cup and then decide if one needs to have a uniform doping policy for all cricket-playing countries," he said.


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Markets
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(updated multiple times a day)
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Sensex: 3125.66, +36.19

The sensex closed at 3125.66, up 36.19
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Forex
 
1  U.S. $ = 48.4400 INR
1  Japanese Yen  = 0.4037 INR
1  British Pound  = 75.3920 INR
1  Canadian $ = 30.6951 INR
1  Singapore $ = 27.5634 INR
1  UAE Dirham = 13.1874 INR
1  Saudi Arabian Riyal = 13.1874 INR
1  Euro = 47.2290 INR
1  Qatar Rial = 13.3022 INR
 
Metals

 No data
Weather
Temperature : 84 F / 29 C  
 HeatIndex : 85 F / 29 C 
Humidity : 48%
Dew Point : 63 F / 17 C 
Wind : West at 7 mph / 11.3 km/h 
Wind Gust - 
Pressure : 29.74 in / 1007 hPa (Steady)
Conditions : Smoke
Visibility - 
Clouds : Scattered Clouds(SCT): 2000 ft / 611 m 
  
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