Tuesday, September 22, 1998
EC plans lower import duty
After receiving a setback to its move to impose five-year penal duties on Indian exports of unbleached cotton, the European Commission (EC) (the European Union's executive body) is expected to make new proposals to EU members that may include lower duty rates. Last week, the EU's Anti-Dumping Advisory Committee voted by eight member states to six against such duties (Belgium abstained).
NHPC takes up delayed projects
Two large hydro power projects at Kol and Parbati are being handed over to the National Hydro Power Corporation for implementation. The 800 MW Kol project and the 2,051 Parbati project have been held up because of the problems of finance and equity between the promoter states. The decision to hand over the projects to NHPC was taken at a meeting held by the Union Power Ministry last week at Chandigarh.
RS panel pulls up bankers on NPAs
The 10-member Rajya Sabha committee on government assurances came down heavily on senior bankers on Monday for their inability in recovering the burgeoning non-performing assets (NPAs) - defaulted loans - from big corporates. The assurance committee has its first round of meeting with senior executives of State bank of India, Bank of Baroda, Bank of India, Central Bank, Dena Bank and Bank of Maharashtra on Monday.
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