MR. Rajan Pillai died tonight at the Deendayal Upadhyaya Hospital near Tihar jail where he was kept. The end came around 20.30 hrs after the doctors in the hospital failed to revive him. Mr. Pillai (47) was brought to the hospital at 18.30 hrs by jail authorities with ‘raging fever’ and in a state of collapse. He did not respond to treatment. The body will be sent for post mortem and an inquiry conducted by a sub-divisional magistrate. On Thursday, the Metropolitan Magistrate rejected Mr. Pillai’s plea to undergo treatment in the Escorts Hospital for a suspected liver ailment, saying he was not a serious patient but a ‘luxury’ patient.

Rs. 15-cr. cap on open positions should go: Panel

The Expert Group on Foreign Exchange Market in India headed by Mr. O. P. Sodhani, Executive Director of the Reserve Bank of India (RBI), has recommended the exclusion of inter-bank borrowings from net demand and time liabilities for computing SLR requirements. Among other recommendations made by the group are granting of freedom to banks to determine the interest rate as well as maturities of FCNR (B) deposits, the setting up of offshore banking units and a forex clearing house here.

Imported sugar for PDS: Chidambaram

The Commerce Minister, Mr. P. Chidambaram said here today that STC and MMTC have been asked to ‘either dispose of or withdraw from the sugar import contracts they have entered into. However, where contracts have to be carried through, the imported sugar would be pumped into the public distribution system (PDS). Reacting to recent reports about STC and MMTC being asked to square up or resell the sugar on high seas, Mr. Chidambaram said there was no controversy.

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