TOP HEADLINES
• BSNL, MTNL slash mobile STD rates
• Western Union, ING Vysya in alliance
• TRAI for fee cut for PMRTS operators
• Narayanan calls reforms 'anti-people'
• Avoid US-centric global economy: Pitroda
• West must not practice protectionism: Hewitt
• Satyam Infoway changes name to Sify Ltd
• US urges India for stronger economic ties
• 'India should aspire for 10% growth a year'
- - More I Kelkar panel tax proposals

SPECIAL
2003: What will be best investment class
Early indications are that equities may emerge as the best investment category this year.

CORPORATE HEADLINES
• Blue Star Infotech achieves CMMI Level 5
• Gail appoints B Negi as director, planning
• IDBI Bank Q3 results on Jan 15, 2003
• Satyam, BaaN forge alliance
- - More

MARKET REPORT
Sensex ends lower; MTNL sinks, IBP jumps
Investors dump stocks in the absence of buying support from FIIs. Infosys, HLL down. Zee Tele up.

THE KELKAR PROPOSALS
How will the Kelkar plan hit you
We simplify and analyse the effects of a few important recommendations of the revised report which are pertinent for investors.

INTERVIEW
'This conference has a body, heart and soul'
'I am not saying we will get $10 billion from overseas Indians at the end of the Pravasi Diwas conference. We will get just a trickle but the interest will be generated,' says FICCI Secretary-General Amit Mitra.

NRI CENTRE
PIO cards: Not worth the cost
The PIO cards issued by the government three years ago are not of much use to the NRI, says A N Shanbhag.

COLUMN
Globalisation & the Chinese bamboo
With globalisation, the market will allow domestic economies to take their natural course, and make our politicians obsolete, says Surjit S Bhalla.

PERSONAL FINANCE
Household insurance policies are not foolproof
What's the first rule when buying insurance? Easy: read the small print to avoid any nasty surprises.

ECONOMY IN REVIEW
• The big bang events of the year
•It was an year of cheap money
• It poured greenbacks
• 2002: The Year That Was