Sify takes IIBF exams online

On January 18, 2004, the Indian Institute of Banking and Finance (formerly Indian Institute of Bankers) broke from its past and created history of sorts.

The 76-year old institution allowed close to 20,000 of its banking professional members to take two of its important exams online. Chennai-based, internet service provider, Sify Ltd, became part of history too by developing this solution for IIBF and running it across 390 of its Iway cyber cafes from 15 centres across the country.

The 23 strong governing council of IIBF gave an unanimous go ahead to take this safe and calculated risk of stepping into the cyber world. The mission, as of now, has been a resounding success, with 90 per cent of the candidates giving a positive feedback.

This is despite the fact that only 40 per cent had passed the exams. The banking industry in India, as on date, employs close to one million professionals, 80 per cent of whom are members of IIBF.

Plastics traders hail budget

Chennai Plastics Manufacturers and Merchants Association has welcomed the Tamil Nadu budget for the year 2004-05. The association in its press release issued here stated that the budget is growth oriented and innovative in many aspects, such as introduction of single window system for small scale industries, rationalisation of registers and forms, formulation of labour reforms.

The association said, "The plastic industry is (however) disappointed that the set-off facility against entry tax imposed during last budget on plastic raw materials such as low density polyethylene and poly propylene has not been extended to manufacturers, particularly when these prime raw materials are not under manufacture in the whole state."