Saturday, November 21, 1998
Sinha turns down sugar import duty hike plan
Finance minister Yashwant Sinha has shot down the food ministry's proposal to hike sugar import duty, saying any such move would be inflationary and not advisable.
RBI allows FCNR accounts in Euro
The Reserve Bank of India has allowed commercial banks to accept foreign currency non-resident (bank) - FCNR (B) - deposits in Euro, the currency of the European Monetary Union (EMU).
SAIL financial revamp likely
Union minister for steel and mines, Naveen Patnaik, announced on Friday that a "financial restructuring'' of the Steel Authority of India Limited (SAIL) was "under examination.''
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