Monday, October 19, 1998
Problems aplenty for investment firms
The 1997 amendment to the RBI Act has created severe anxiety in the minds of investment companies. When the Ordinance amending the Reserve Bank of India Act 1997 was issued in 1997, little was realised what the consequences would be.
To what avail?
Prime Minister Atal Behari Vajpayee is an optimist. He told his Economic Advisory Council (EAC) that he expected GDP growth to rise by 6.3 per cent this year against 5.1 per cent last year.
Re-think a must
There have been several reports that the financial insitutions are taking a hard look at their exposures in certain sectors of the economy. Steel and now synthetic fibres are reportedly some of the sectors where the FIs have grave misgivings.
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