Saturday, June 27, 1998
Sanctions grip on the wane, says North Block
The iron grip of sanctions seems to be gradually weakening, according to a position paper drawn up by the finance ministry on Thursday. Japan -- which is India's largest bilateral donor -- has kept a crucial window open for fresh loans while the UK and the EC have indicated to the finance ministry that they will continue to consider fresh loans.
Banks, institutions keep call higher than repo rate
Banks and financial institutions have artificially been keeping the call money rates 200 to 300 basis points higher than the fixed repo rate by partially staying away from the overnight market. The call rates have been ruling at 7-8 per cent. The Reserve Bank of India on June 14 slashed the fixed repo rate by 100 basis points to 5 per cent.
Maharashtra, Enron form panel to sew up norms for Dabhol phase-II
Maharashtra has constituted a joint working group with the US multinational Enron Power Corporation to finalise tariff issues, fuel management agreement and other norms for the phase-II of the Dabhol power project. A decision to this effect was taken at a meeting held last week between the chief executive officer (CEO) of Enron International Rebecca Mark and Maharashtra deputy chief minister Gopinath Munde.
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