Thursday, October 29, 1998
Task force recommends stringent NBFC norms
The task force on NBFCs has recommended that companies without credit rating be permitted to access public deposits provided they attain a higher capital adequacy ratio of 15%. The panel has also suggested enhanced minimum entry capital, tighter prudential norms alongwith exposure limits for NBFC funds in real estate and capital markets.
ADB for regional monitoring unit
The Asian Development Bank (ADB), in an effort to bring in regional surveillance efforts in the aftermath of the East Asian crisis, is planning to set up a Regional Economic Monitoring Unit to support regional and sub-regional monitoring activities.
DoT signs licence agreement with Iridium
The Department of Telecommunications (DoT) on Wednesday signed a provisional licence agreement with Iridium to enable the latter to commence commercial operations of global mobile personal communications by satellite (GMPCS) in the country.
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