Friday, October 9, 1998
State Bank under-estimated its bad loans by Rs 900 crore in '96-97: RBI
The State Bank of India has underestimated its non-performing assets (NPAs) by Rs 900 crore during 1996-97, an internal Reserve Bank of India report said. While the RBI had pegged the NPA figure at Rs 11,961 crore, the bank had estimated it at Rs 11,061 crore.
FIIs warned against taking advantage of UTI crisis
The finance ministry has warned leading foreign institutional investors (FIIs) against escarbating the crisis surrounding the Unit Trust of India's US-64 scheme. The tough talking was done through an informal line of communication opened through a couple of institutions and banks.
Reliance H1 sales jump 16% to Rs 7,374 cr, net up to Rs 921 cr
Reliance Industries has bucked the global downward trend in commodities business by recording robust growth in polyester, plastics and polymers for the first half of 1998-99. The increase in its production far outstripped the industry average.
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