Monday, July 13, 1998
PV Narasimham tipped to succeed Agarwal at IFCI
Industrial Development Bank of India executive director PV Narasimham is tipped to become the chairman and managing director of the Industrial Finance Corporation of India (IFCI). The present chairman and managing director KD Agarwal retires on Wednesday.
Now, Sinha may have to pare PAN-use norms
The Centre plans to water down some of the measures announced on the mandatory use of the permanent account number (PAN) or the general index register (GIR) number announced by finance minister Yashwant Sinha in his budget speech. The proposed amendments on the use PAN for various transactions are slated to come into effect from August 1, 1998.
No foreign firms inside insurance ring, says Bakht
The BJP-led government will not open up sensitive sectors like real estate, insurance, atomic energy, drugs and pharmaceuticals to foreign investors, industry minister Sikander Bakht has said. Also, the government is proposing to open the insurance sector only to domestic private sector operators, but not to foreign investors, he clarified.
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