The Financial Express -- News

Thursday, November 6 1997

Kirloskar Electric Company kicks off business re-engineering

Kirloskar Electric Company Ltd (KEC) has initiated a business re-engineering project (BRP) to re-design its business processes, management systems and value. The project will enable the company achieve a quantum improvement in performance.

Growth rate at 7 per cent to be sustained

India should be able to sustain growth rate at the existing level of 7% with a savings rate of 26%, reduced current account deficit and incremental capital output ratio of 4%, according to Union finance minister P Chidambaram. He added that the economy should now work at taking this growth rate to 8%.

RBI bars bridge loans to finance firms

The Reserve Bank of India (RBI) has barred banks and financial institutions (FIs) from granting bridge loans to the non-banking finance companies. It has also directed banks to obtain security for bridge loans which was in its earlier avatar an unsecured credit.

Vysya, Bank Brussel Lambert to jointly finance new projects

Ministry, ONGC lock horns over JV partner as Neelam output falls