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Tuesday, May 13 1997
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IMF not to force India into full rupee float: official![[Details]](/icons/bullet.gif){kind=icon}
The International Monetary Fund (IMF) will not force capital account convertibility on India and other countries. IMF Research Department senior functionary Flemming Larsen said that graduation from current account to capital account convertibility would be a long process, and the IMF wanted to help the countries to do adequate groundwork for achieving the target.
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Centre to tap $700 mn line of credit from World Bank
The Centre is all set to clinch a $700-million World Bank line of rural credit, a major chunk of which will be used to recapitalise regional rural banks (RRB). The cost of the 20-year facility, carrying a five-year moratorium, will be pegged at sub-Libor (London inter-bank offered rate) coupon rate.
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BJP to oppose move to hike petro prices
The Bharatiya Janata Party (BJP) on Monday announced that it would oppose any move by the United Front government to hike petroleum prices.
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FM hints at balancing tariff rates to Asian levels by 2000 Wary of shareholders, firms extend accounting year Can Bazaar pitches for women entrepreneurs Singapore traders eye engineering goods Sword of Damocles hangs over company secretaries Row erupts over electronics body chairmanship Farm shift to concurrent list mooted VAT may cover more items in next Bengal budget Repeal of sugar export act kicks off legal issues FIs to wait and watch before floating short-term deposits `No import of natural rubber next year' Surya auditors give new twist to underwriter row Commerce body moots 10-point plan for UP States urged to exempt exports from sales tax purview State intervention where needed: Alagh GDP to grow at 6 per cent: report Stanchart relocates Andheri branch
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The Group
