The Indian Express -- Business

Sunday, June 8 1997

FOREX RATES INDICES STOCK

Global Finance banned from deposits

The Reserve Bank of India (RBI) has banned the Calcutta-based Global Finance Corporation from accepting deposits with immediate effect. It has also directed the company not to sell, transfer, mortgage or deal in any manner with its property, without the prior written permission of the central bank for a six-month period.

Tarapore panel report spurs GDR recovery

The Tarapore Committee's recommendation for a time-bound programme to make the rupee convertible on the capital account in the next three years has improved sentiment in the GDR (global depository receipt) market where shares of Indian companies are listed.

Industrial growth slumps further in February

India is expected to close 1996-97 with a grossly reduced rate of industrial growth around seven per cent from near 12% in the previous financial year. Continuing its sharp decline, industrial growth slipped further in February 1997 to 2.4% as against 13.3% in the corresponding period of 1996.

Experts seek overhaul of core sector funding rules

Short-charging the farmer, again

RBI issued CRB banking licence despite internal warning

Nirma sounds Henkel Spic for tie-up

Bizbits -- Max India net down

Birla Cash Plus launched