The Financial Express -- Economy

Wednesday, May 28 1997

Centre plans higher threshold of Rs 1 crore for finance cos

The Union finance ministry is working on ways and means to raise the entry barrier for registered non-banking financial companies (NBFCs) to gain admission into the `low-risk category'. Companies in this category are eligible for greater operational freedom, and are supervised on an on-site basis once in three years.

MSEB faces stiff bank terms for Dabhol stake

Banks and institutions will set stiff terms for embracing Maharashtra State Electricity Board (MSEB) as the new 30% stakeholder in Dabhol Power Corporation (DPC). The project is a joint venture between US-based Enron Corporation, GE Capital and Bechtel. The conditions for funding the US-based multinational's 2,450 MW power project at Dabhol, given MSEB's intention to hold a 30% stake, will also include the provision of a bank guarantee.

Excess capacity triggers undercutting in freight rates

Ocean freight rates ex-India and, for that matter from any country to any destination, has been continuously fluctuating. Even though the rates are quoted as a procedure, the final rate is arrived at after negotiations. This apart, undercutting has become a regular practice and part of the business.

CRB staff to move labour court for wage recoveries

Ailing markets are pushing up interest rates:Rangarajan

Higher domestic demand hurts tea exports

Centre to buy sugar at ex-factory rate

India, Yugoslavia agree on trade co-operation

Opening health insurance will boost infrastructure

Tamil Nadu to host infrastructure seminar