The Financial Express -- Corporate

Monday, November 10 1997

Punjab National Bank to restructure operations

The Punjab National Bank (PNB) is expected to restructure its operations, much ahead of India's plans to switch over to capital account convertibility (CAC) of rupee. A major feature of the restructuring plan will be opening foreign branches in international financial centres as an outlet to raise money at cheaper rates.

Allahabad Bank may buy Jessop building

Allahabad Bank has shown interest in purchasing the headquarters building of Jessop & Co Ltd, situated at a prime location in Calcutta's business district. The property, valued at Rs 25 crore, is being disposed off by the ailing public sector undertaking as part of a revival plan.

Gail, Gaz de France sign MoU

Gas Authority of India Ltd (GAIL) and Gaz De France, a French national gas company, have signed a memorandum of understanding (MoU) on liquefied natural gas (LNG) import and handling ventures in India. The joint venture will set up LNG terminals in Tamil Nadu, Karnataka, Kerala and Gujarat.

Tisco takes over ACC slag unit

State Bank of India picks up Rs 200-crore CPs of Reliance

Polysindo group gets off takeover trail; opts for consolidation

FIs reject JK Synthetics revival plan

L&T set to sew up tractor venture with John Deere

Gail, Gaz de France sign MoU

Citibank offers 7% return on FCNR deposits

CBI likely to file criminal suit against BoB officials

IndusInd makes fresh bid for gold import licence

Bajaj Auto caught napping by October demand surge

German semiconductor firm shelves venture plan

Punjab National Bank to restructure operations