The Financial Express -- News

Monday, December 8 1997

Poor growth in credit offtake bugs RBI

The Reserve Bank of India (RBI) has expressed serious concern about the tardy growth in bank credit in the last fiscal despite the increase in banks' lendable resources through successive cuts in the cash reserve ratio (CRR). The subdued expansion in bank credit, despite the substantial increase in liquidity to the tune of Rs 17,850 crore through the reductions in the cash reserve ratio in 1996-97, is also an area of concern for RBI.

New Mercedes diesel versions to be priced below petrol counterparts

Mercedes-Benz India (MBIL), the 76:24 joint venture of Daimler Benz and Telco, will price its new W210 series E-class diesel cars lower than their petrol counterparts. The W210 cars will replace the current W124 ones in the E series cars currently sold as the E-220 and the E-250D in their petrol and diesel versions. The two cars, incorporating changes in styling and performance, are scheduled to be launched in early January, 1998.

Inflation rate dips to 3.35%

With pressure easing on prices of edible and non-edible items, inflation rate recorded a minuscule fall of 0.01% to touch 3.35% on November 22, while maintaining the single-digit run for the consecutive 139th week since April 1, 1995. It was 3.36% in the previous week.

JNPT puts Rs 1,320-crore update proposal under microscope

Cell operators to approach TRAI for hike in rentals