Friday, August 7, 1998
RBI lowers export refinance rate to 7%
The RBI on Thursday lowered the refinance rate for export credit to 7% from 9%. This follows commerce minister Ramakrishna Hegde's announcement of a two percentage-point cut in export credit to 9%.
SEBI grills Raju on Sri Vishnu share offer
SEBI on Thursday questioned the former chairman of Raasi Cement, Dr B V Raju, and his merchant banker, Lazard Credit Capital on the issue of transfer of 39.49% of Sri Vishnu Cement (SVCL) held by RSL to nine associate companies just prior to Raju's sell out of Raasi Cement to Chennai-based India Cement Ltd.
Govt mulls energy-efficiency label
The Government is mulling the introduction of an `E-Mark' to signify energy efficiency as part of change being planned in the Energy Conservation Bill. This Bill is the last of the three power sector Bills mooted by the Power Ministry.
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