
Tuesday, March 2, 1999
RBI slashes bank, repo rates and cash reserve ratio
The Reserve Bank of India on Monday complemented finance minister Yashwant Sinha's policy initiative in the Union budget 1999-2000 by slasing bank rate, repo rate and cash reserve ratio.
Telecom majors take DoT to court
In a defiant move, five telecom companies including the four basic service operators moved the high courts seeking to stay the DoT from encashing bank guarantee's as a result of non-compliance with the February 28 licence fee deadline.
Market gifts 124 points more to finance minister
Budget bulls returned to the market after a day's break pushing the Sensex up by another 124 points. The budget score so far on the market is 291 points, not out.
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