Reserve Bank likely to restore limits on export credit refinance soon
The Reserve Bank of India (RBI) is likely to restore the export credit refinance limit of banks to 100 per cent of export advances in the forthcoming credit policy. The refinance limit was cut on January 16 to 50 per cent of the increase in outstanding export credit over the level of such credit as on February 16, 1996. This move will boost export credit which had taken a severe beating after the January 16 decision.
Gupta panel to present report on farm credit tomorrow
The one-member RV Gupta panel on agricultural credit will submit its report to the Reserve Bank of India. The report contains significant observations about the centre's subsidy policy. It will also go a long way in changing the concept of priority-sector lending.
Chamber study shows poor growth rate in northern states
The growth rates in the seven northern states, which constitute almost one third of the country's economy, have been well below the national average of 5.1 per cent, according to a study conducted by the PHD Chamber of Commerce and Industry. Between 1990-91 to 1995-96, Delhi was the only state which showed a growth rate of 6.3 per cent.
Public enterprises board recasts rules for Coal India chief
The Public Enterprises Selection Board has changed the rules for selecting the next chairman of Coal India Ltd after PK Sengupta retires in September this year. And, even as the new conditions have eliminated the chances of all but one officer in the second tier, candidates who fancy a chance are lobbying politicians desperately.
Exim policy will boost gold trade, says WGC
The recently announced Exim policy will give a considerable boost to the gold trade, both domestic and exports, said World Gold Council's CEO for India and the Middle East, Rolf Schneebeli.
Ficci plea for avoidance of double taxation
The government should not levy additional tax on dividend income received by domestic companies if that dividend has been distributed by another domestic company, the Federation of Indian Chamber of Commerce and Industry (Ficci) feels. the chamber has pointed out that in most cases dividend received by domestic companies is now tax exempt as it is not included in the computation of taxable income.
