| |
Ministry approves Rs 325 cr fresh equity infusion into IA
The Union finance ministry has approved a revival package for Indian Airlines (IA) which proposes injection of fresh equity worth Rs 325 crore in a phased manner. The equity, however, can be utilised only to purchase new aircraft by the state-run airline. Further, the domestic carrier will also have to meet a number of performance parameters in order to earn the Rs 325-crore equity injection.
 |
|
RBI to introduce electronic-fund transfer system soon; trial runs successful
The woes of delay in fund flow across bank branches has come a step closer to becoming a thing of the past. The Reserve Bank of India (RBI), early this week, successfully conducted trial runs of the electronic-fund transfer (EFT) scheme, which enables credit and debit from accounts through the electronic mode in less than three days. The massive exercise launched by RBI involved all the 27 public-sector banks and took place at their branches in the four metros.
|
 |
SIDBI to focus on venture-capital finance
The Small Industries Development Bank of India (SIDBI) has shifted its focus to venture-capital financing. The move follows the raising of the financing limit for the small-scale industries (SSI) sector last month. Companies with an investment up to Rs 3 crore in plant and machinery are eligible for the status of small-scale industry, effective January 1998.
|
Fund to boost leather exports on the anvil
A technology/modernisation fund set up exclusively for leather industrialists is on the anvil, according to chairman of the Council for Leather Exports M Rafeeq Ahmed. The fund to be arranged by the council would fuel a planned government effort to make Indian products more competitive in the global market.
|
