Friday, June 11, 1999
IDBI eyes state-run bank in recast plan
IDBI is exploring the possibility of taking over a public-sector bank. This marks a radical shift in the largest term-lending institution's business strategy which has--unlike ICICI--all along avoided the idea of growing through mergers and acquisitions.
US senate clears suspension of post-nuke sanctions
The US Senate has approved the Brownback Amendment to suspend nuclear-related sanctions against India and Pakistan for five years, but this time round the legislation is clearly tilted in New Delhi's favour.
EPZs set to move out of customs ambit from July 1
The commerce ministry has crossed the first hurdle in its move to convert all the existing export processing zones into free trade zones with the customs department agreeing to exempt them from all the rules and regulations from July 1.
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