Thursday, October 15, 1998
Banks to buy Rs 1000 crore US-64 units
Public sector banks have made a commitment to subscribe to US-64 units worth Rs 1,000 crore. This follows a presentation made by UTI chairman P S Subramanyam to the bank chiefs on the attractiveness of the scheme.
Osram buys out ECE unit
ECE Limited, the oldest player in the Indian lighting industry, has sold off its manufacturing facility to the Rs 16,000-cr Osram GmbH of Germany in order to service mounting debts and infuse fresh funds into its other business activities.
Companies lobbying for liberal loans
Companies -- belonging to steel and textile sectors -- have intensified their lobbying to get fresh funds and reschedulement of loans at favourable terms.
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