Tuesday, January 19, 1999
Finance ministry keen on gold monetisation for core sector funding
The Union finance ministry is keen on monetisation of at least a part of the country's 12,000 tonne idle gold reserves through the gold deposit schemes of commercial banks. The monetisation of gold will go a long way in funding the infrastructure projects, feel the North Block mandarins.
Centre urged to expand scope of special duty
The Confederation of Indian Industry (CII) has called upon the Centre to expand the umbrella of 4% special additional duty (SAD) to include areas like imports of fertiliser, coal mining, power generation projects and setting up of crude petroleum refinery and traders.
Reserve Bank shifts focus, to monitor smaller finance firms
The Reserve Bank of India has shifted its focus to non-banking finance companies (NBFCs) with net owned funds (NOFs) below Rs 25 lakh holding public deposits. With work relating to the registration of NBFCs with net owned funds of Rs 25 lakh and more almost completed, RBI has said that it will now concentrate on monitoring the operations of these finance companies.
|
|
