The Financial Express -- News

Saturday, November 8 1997

Kribhco plant gets first-stage clearance

The central government has granted first stage clearance to Krishak Bharati Cooperative Ltd (Kribhco) for setting up a Rs 1,270 crore fertiliser plant at the existing site of the sick Fertiliser Corporation of India's (FCI) Gorakhpur plant.

Firms forced to shelve ECB plans

The inching up of the six-monthly forwards in the foreign exchange market is forcing corporates to shelve their external commercial borrowing (ECB) plans. They are now turning to domestic funding options. Forwards which gained by 100 basis points over the last three days to touch the 7.4% mark has forced corporates to reconsider their funding options.

Rs 3.73-crore inter-branch fraud unearthed at BoB

A Rs 3.73-crore fraud was detected at the Bank of Baroda's Odhav branch here last week. The modus operandi involved a gang intercepting the BoB's branch-to-branch transactions within Gujarat and between Mumbai-Ahmedabad.

Bombay Dyeing hits the market with three-tranche, $38mn ECB

Hindustan Thompson, Ogilvy & Mather may set up media-buying company