Tuesday, August 25, 1998
AV Birla group trims layers to speed up decisions
The Rs 6,000-crore Aditya Birla group has begun a delayering process with a sharp focus on new projects to cut down on delays in decision-making. The process, which stems from a recent directive to speed up projects, involves cutting down on what have now become unnecessary layers in management structures of group companies.
IDBI sees SAIL '98-99 losses at Rs 900 crore
The state-run Steel Authority of India Ltd (SAIL) is expected to report a loss of Rs 800 crore to 900 crore in 1998-99 unless it takes immediate measures, sources quoting an Industrial Development Bank of India (IDBI) report said. IDBI had been commissioned to do a financial analysis of the company.
RBI sets up panel to frame write-off, compromise norms
Alarmed at the bulging non-performing assets, the Reserve Bank of India has set up a panel to frame guidelines for write-off and compromise settlements on bad loans. The move is an attempt to ensure "uniform norms" for the banking industry.
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