Reserve Bank eases real-estate loan guidelines
The Reserve Bank of India (RBI) has relaxed the guidelines for term loans extended by banks to private builders. RBI has stipulated that the period of credit for term loans extended by banks to private builders not covered under the National Housing Bank refinance scheme may be decided by banks themselves based on their commercial judgment.
Ficci toes BJP line, raises swadeshi flag
All political parties should support `swadeshi', and foreign players should not be allowed to dominate local industry, the Federation of Indian Chambers of Commerce and Industry (Ficci) has said.
IDBI, ICICI seek $300 mn from Japan Exim Bank
Industrial Development Bank of India (IDBI) and Industrial Credit and Investment Corporation of India (ICICI) have approached the Japanese Export and Import Bank (J-Exim) for fresh loan of about $300 million. Disbursement of these loans is possible only after April next year.
L&T to redeem 7-year bonds in 1999
Larsen & Toubro Ltd has decided to exercise its call option on its secured redeemable bonds issued last year at the end of the third year, that is, 1999. The postponement is due to the financial markets collapse in south-east Asia.
Capital-indexed bonds open for subscription today
The government of India's capital-indexed bonds would open for subscription today. The bonds will be tradable and eligible for repo facility. The bonds, which bear an interest of 6 per cent, are payable semi-annually.
