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India to be power surplus in 4-5 years: Govt

New Delhi, Mar 12 (UNI) Admitting that the country had ''burnt its fingers'' in the privatisation of power, the government today said it would be very careful in the future and claimed that India would be surplus in electricity within the next 4-5 years.

Power Minister Sushil Kumar Shinde said in Rajya Sabha during Question Hour that the government was encouraging privatisation of the power sector and was trying for consortia from China and Russia to participate in power projects.

He, however, admitted that the governent had ''burnt its fingers'' in cases like Enron but asserted that now it would be ''very careful''.

Mr Sitaram Yechuri (CPM) said the UPA government, of which his Party was a coalition partner, had promised in the Common Minimum Programme (CMP) of giving power to the entire country by 2009.

He expressed concern that with just two years remaining, the situation was still very serious and nothing much had been achieved.

He cautioned the government against ''falling into the trap'' once again while considering power privatisation.

Mr Shinde said the government was taking several steps to improve power situation in the country and some plans would be shortly taken to the cabinet for consideration.

UNI

NIIT ties-up with Sun Microsystems to offer training in OSC

Mumbai, Mar 13 (UNI) Software education major, NIIT Ltd has today informed the BSE that they and Sun Microsystems India Pvt Ltd have expanded their relationship to offer training in the growing open source computing (OSC), through Sun Solaris training programs. As part of the alliance, the Company will offer specialized training programs through its network of education centers as well as specialized Solaris lab to be set up in metros to several thousand students and software professionals in the.....

RBI wants involvement of senior bank officials for Basel II

Mumbai, Mar 13 (UNI) As the deadline for the implementation of the Basel II norms is nearing fast, the Reserve Bank of India (RBI) has asked all the banks in the country to involve their senior management officers to speed up the process. Addressing a workshop on Basel II Compliance-Opportunities for Indo-British Partnerships here today, Chief-General-Manager in Charge of the RBI, Prashant Saran, said ''We at RBI feel that involvement of senior management was needed in all the banks for the.....

ICICI Bank signs Line of Credit with Export Development Canada

Mumbai, Mar 13 (UNI) ICICI Bank and Export Development Canada (EDC), Canada's Export Credit Agency, today signed a Line of Credit (LoC) agreement. The LoC is currently for an amount of USD 50 million and depending on requirement, may be increased. This LoC is to be utilised to support Indian corporates importing capital goods and availing services from Canada. The LoC is the first of its kind to be extended by EDC to any Indian bank, a bank's release issued here.....
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