Friday, July 10, 1998
State Bank ready to `swap' Resurgent India funds
State Bank of India (SBI) will allow foreign, public sector and even new-generation private sector banks -- which will act as collection agents for the Resurgent India Bond -- to share the bond proceeds through "swap" of foreign currency resources with rupee funds. In effect, these banks will be able to get rupee resources from SBI after surrendering the bond proceeds in dollar, pound sterling and deutsche mark.
AC Nielsen to plough in $1 million
AC Nielsen Research Pvt Ltd will invest over $1 million in India to achieve market leadership in the next five years. The company, which initially picked up 70% stake in an Indian research agency, Market Research Advisory services (MRAS), has now picked up the remaining 30% stake held by former MRAS executives.
Cola manufacturers step up battle to corner bottlers
The ongoing battle for bottlers in the beverages industry seems to have got a new location, Mumbai, and a new cast, this time starring Schweppes. Schweppes's bottler in Mumbai, McCoy Bottling, has stopped bottling and distributing the company's brands and is trying to negotiate a deal with Coca-Cola.
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