Tuesday, December 29, 1998
Amended NBFC norms will ease pressure
Downgrading of credit rating: Prior to the recent amendment, a company whose credit rating had been downgraded, was required to reduce its public deposits to nil or at least upto to the limit represented by its new credit rating, within one year of such downgrading.
Market sentiment turns positive
The Sensex on Monday was up by 91 points. However, the rally was not supported by Hindustan Lever but by Castrol, Bhel, Telco, Tisco, Pentafour Software, Satyam Computer and to some extent ITC.
Samadhan: Unanswered issues
Kar Vivad Samadhan Scheme (KVSS) introduced by the Finance (No.2) Act, 1998 with effect from September 1, 1998 is now on its last legs--being valid only up to 31st December, 1998 unless it is further extended.
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