Sunday, July 12, 1998
Calcutta bourse to adopt weekly settlement cycle from next month
As expected, the Calcutta Stock Exchange (CSE) board decided in a meeting on Saturday to implement a weekly settlement cycle for the specified group from August 21, 1998. With this, the roadblock to introduction of the modified carryforward system has been removed.
Credit bureaux get noticed as defaults rise
Set up in 1993 as a joint venture between the Chennai-based First Leasing and the US-based Equifax, Equifirst is a credit bureau that never took off. Even today, the joint venture exists on paper but in real terms it is non-operational. Worldwide, credit bureaux are companies which investigate an individual's credit worthiness and assign credit rating to consumers.
Edible oils crash following reduction in import duty; yarn improves
Groundnut oil reacted from the peak level while castorseed and its oil ruled firm on the oil, oilseeds market yesterday. Groundnut oil fell from Rs 500 to Rs 493 per 10 kg on unloading by stockists following reduction in the import duty by union government. Imported palm oil nose-dived to Rs 365/366 per 10 kg on hectic selling by local importers in the wake of reduction in the import duty coupled with hectic inflow at Mumbai port.
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