Godrej, Bajaj Auto pactGodrej and Bajaj Auto have joined hands to come up with `Godrej Bajaj Auto Finance' in a bid to provide `quicker credit for easy buys'. Under the scheme, Bajaj Auto Finance will fund consumers buying products from the Godrej-GE Appliances stable. The move is part of Bajaj Auto Finance's foray into retail-financing.
I-T collections rise 37 per cent from Mumbai
Income-tax collections from Mumbai, which contributes 40 per cent of the country's tax-revenue, have registered a 37 per cent growth up to January 31, thanks to the windfall from VDIS'97. Corporate tax is up 10 per cent rise to around Rs 5,700 crore and income-tax collections amount to about Rs 4,575 crore. The Central Board of Direct Taxes has set a target of around 19,000 crore for the city.
Inflation rises 0.03 per cent
The annual rate of inflation continued to rise for a consecutive second week to touch 5.45 per cent on February 14, up 0.03 per cent from 5.42 per cent. The rise defied a fall inprices of masur, barley, raw-rubber, coconut oil and synthetic-resins. On the brighter side, the rate has maintained its single-digit run for a successive 151st week.
Annualised carryforward rates touch 20 per cent
Annualised carryforward rates on the BSE touched a high of 28 per cent on Sunday. Counters like MTNL, L&T, Indian Hotels, EIH and P&G attracted backwardation charges. Indian Hotels, P&G and L&T, however, closed with a higher weighted average backwardation charge in the range of 50 paise to Rs 2. Pivotals like SBI, Reliance and ITC, despite higher outstanding positions, attracted lower badla charges.
EC orders repolling at 57 booths in Gujarat
The Election Commission has ordered repolling at 57 booths covering eight assembly and five Lok Sabha constituencies in Gujarat for Monday. State chief election officer Balwant Singh issued the notification for repolling.
President confers Bharat Ratna on Abdul Kalam, Subbulakshmi
Noted singer MS Subbulakshmi and scientificadvisor to defence minister Abdul Kalam were among five personalities conferred the nation's highest civilian award, Bharat Ratna, by president KR Narayanan at Rashtrapati Bhavan on Sunday. Film-director Satyajit Ray, freedom-fighter Aruna Asaf Ali and former prime minister Gulzari Lal Nanda were given the awards posthumously.
Suharto says IMF reforms not enough for Indonesia Indonesian president
Suharto said on Sunday the country's economic lifeline had begun to be compromised by a financial crisis and that IMF-prescribed reforms had not eased the situation. He told Indonesia's top policy-making body that a more appropriate plan was needed to stabilise the rupiah, the key to the problem. Suharto, however, said he was committed to the reforms agreed with the IMF last year and revised in January in exchange for a bail-out package of around $40 billion.
Partners' stakes in Airbus Industrie may change little
Partners' stakes in Airbus Industrie are unlikely to change much if theplane-making consortium is converted into the planned joint-stock company next year, aerospace industry officials said. The Airbus partners are due to present their governments with a plan by the month-end to restructure the European aerospace industry, with the immediate aim of creating an Airbus limited-liability company.
Copyright © 1998 Indian Express Newspapers (Bombay) Ltd.
