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Technology Stocks : Satyam Infoway Ltd-(Nasdaq:SIFY) -- Ignore unavailable to you. Want to Upgrade?

To: Mohan Marette who wrote (941)	2/29/2000 8:55:00 AM
From: Mohan Marette	Read Replies (1) \| Respond to of 1471

Liberalisation programme for venture capital Finance Minister Yashwant Sinha today announced a massive liberalisation programme for venture capital firms. Acknowledging the need to encourage software and Internet companies, the finance minister, however, said capital should be available to back ideas in other sectors too. Sinha said the Reserve Bank of India and the Securities and Exchange Board of India are framing guidelines to support this programme. He also declared that venture capital funds will be tax free if declared in the period notified by Sebi and will not require an approval from tax authorities. To simplify the procedure, Sebi will be a single-point nodal agency for registration and regulation of both domestic and overseas venture capital funds. This would give a strong reason to non-resident Indians to invest in India. 216.32.165.70