Thursday, June 25, 1998
Centre guarantees to cover dues to PSUs
The Union government is expected to come out with a guarantee scheme to cover outstanding dues to major public-sector undertakings (PSUs) in order to enable them to raise resources. On the strength of such guarantees, the PSUs concerned will be able to raise resources either by securitising the debts or directly entering the market for tapping resources.
North Block may lift 40% cap on Re borrowing for power plant
The Union finance ministry is likely to lift the 40% cap on rupee borrowing for power projects to ward off the impact of sanctions and downgrading of India rating. The Reserve Bank of India (RBI) is also believed to be in favour of raising the cap on rupee borrowing as there is sufficient liquidity in the system.
Private satellite channels granted uplinking rights
The Centre on Wednesday formally decided to grant uplinking rights to Indian-owned satellite channels with maximum foreign equity of 20%. The government has decided that in the first phase, the facility will be provided on a case-by-case basis to broadcasters. The channels will be need to apply to the I&B ministry and will be granted the facility subject to certain criteria.
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