Sunday, December 27, 1998
Derivatives trading to be delayed
The ambitious plan of the stock exchanges to start derivatives trading will be delayed as the Parliament has not yet carried out the required amendment in the Securities Contracts (Regulation) Act, 1956, which in its present form does not permit trading in derivatives.
Rs 100 crore ADB fund for housing finance
The Asian Development Bank (ADB) in association with the government is in the process of creating an insurance-linked mortgage fund. The maiden Rs 100-crore fund would provide comfort to housing finance companies in the country and the structuring of the fund is in the final stages.
Govt to franchise 2 metros to MTNL
The government proposes to franchise Chennai and Calcutta telecom circles to the Mahanagar Telephone Nigam Limited (MTNL), in addition to prompt four oil public sector companies to buy back their shares, to raise Rs 10,000 crore.
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