The Indian Express -- Business

Friday, August 1 1997

FOREX RATES INDICES STOCK

New preference share norms set

The government has decided to allow domestic companies to mobilise foreign investments through preference shares for financing projects. The inflow of capital, however, will remain limited to sectoral caps on foreign equity.

FIs focus on short-term loans, infrastructure projects

Leading financial institutions, which are struggling to boost the sluggish credit offtake, are focussing more on short-term lending and infrastructure projects, ignoring the needs of other mega projects.

DCB shareholders decry benami accounts

A section of the shareholders of Development Credit Bank (DCB) has alleged that 16,000 bogus and fictitious accounts were detected at the Byculla branch of the Mumbai-based bank. They said these benami accounts were used to siphon off fund from the Maharashtra State Financial Corporation (MSFC) as part of the multi-crore cobblers scam.

Sterlite for speedy decision

Tisco sales rise

Audi deal with Sai group almost through

Revenue staff plan stir on pay panel report

Bizbits -- RPL raises $300 mn loan

HC appoints valuer for Sandoz-Ciba swap

Sensex scales up 60 pts

Pass on tax cut to cos: RBI

ICAI for cos to charge MAT as tax expense