Wednesday, September 16, 1998
RBI asks banks to set up systems for asset-liability management
The Reserve Bank of India has, for the first time, drafted guidelines for asset-liability management (ALM) systems for banks. It has suggested that banks should set up asset-liability committees (Alco) to be headed by the chairmen and managing directors or CEOs who will be responsible for ensuring adherence to limits set by the board.
Raunaq, Onkar tread different terrain on Apollo Tyres' preferentiale issue
Raunaq Singh, one of Apollo Tyres' main promoters, is unlikely to subscribe to the company's Rs 89-crore preferential issue. This is significant, as consequently Raunaq Singh's holding in the company is likely to be diluted, though he will remain a promoter shareholder with minority stake.
Rupert Murdoch fails to bite Chandra's price tag
Zee TV chief Subhash Chandra and media mogul Rupert Murdoch have failed to arrive at a merger settlement. The talks, which continued in London till late on Tuesday, fell through as Murdoch did not find the price consideration for the Star channels offered by Chandra acceptable.
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