The Indian Express -- Business

Monday, July 28 1997

FOREX RATES INDICES STOCK

RBI pulls up banks for NPA writeoffs

The Reserve Bank of India (RBI) has pulled up state-run banks that have resorting to large-scale write-offs and compromise proposals in an effort to clean up their balancesheets. It has observed that huge amounts of sticky loans are either being written off or being settled via compromises with the parties involved.

Ranbaxy to sell Ranitidine in US

Ranbaxy Laboratories Ltd has been advised by its legal counsellors that it can introduce Ranitidine, the world's highest selling anti-ulcer drug, manufactured by its own patented process, in the US market even while its legal battle with Glaxo Welcome continues.

I-T for review of NRI gold import Act

The investigation wing of the Income-Tax department has urged the Central Board of Direct Taxes (CBDT) to review the legislation allowing import of gold by Non-Resident Indians (NRIs). The department has cited various instances where the provisions have been misused.

Punjab sugar mills face bitter season

Plastic invasion threat to Kerala's eco-system

Bizbits -- RIL cracker resumes operations

Saying cheese to Chennai

Quickbites -- Dai-Ichi Kangyo in trouble

ONGC move to improve output

Inflation falls further to 4.43%

Figure Watch -- Little loans

Stop Alliance Air: IA unions

Panel wants Railways to limit market borrowings

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