Wednesday, March 31, 1999
IDBI clears Rs 1,080 cr bailout package for steel firms
The Industrial Development Bank of India (IDBI) on Tuesday approved additional loans of Rs 772 crore to six steel projects, with riders attached that the promoters pledge their shareholdings with the institution and bring back funds diverted from the ventures.
Multiplexes to adorn Subhash Chandra's E-citi
Subhash Chandra-promoted Essel Packaging has firmed up plans to set up 18 multiplexes-cum-entertainment centres--christened Project E-citi--in six states with an investment of Rs 400 crore.
Rupee will depreciate 2-5% by 2000, says Mecklai poll
"Let us borrow in dollars," seems to be the corporate view. Nearly 57% of all corporates with a foreign currency loan servicing liability feel that the rupee's depreciation by 2000 will at best range from a modest "less than 2%" to "between 2% and 5%," says Mecklai Financial Services in its bi-annual poll on the rupee.
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