Tuesday, July 20, 1999
Lower inflation adds pressure for cut in interest rates, but bankers are wary
With inflation hitting a 17-year low of 1.83%, real interest rates have hit double-digits once again. Corporates have begun a clamour for lower interest rates, but bankers are unwilling to oblige till deposit rates come down.
Mankad is finance secy, to head revenue
The Government is all set to effect a major bureaucratic reshuffle in the finance ministry. Information & broadcasting secretary PG Mankad will take over as the finance secretary, replacing Vijay Kelkar who moves on to the IMF as executive director.
Madras Refineries inks marketing pact with BPCL
After months of hectic negotiations, Madras Refineries has finally entered into a formal agreement with Bharat Petroleum Corporation for marketing the products of its 6.5-million-tonne Manali refinery near Chennai.
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