Thursday, March 18, 1999
IDBI once again puts off steel loans
The Industrial Development Bank of India (IDBI) has once again decided to postpone the meeting to consider a bailout package for steel companies. The IDBI board has decided to delay the package till March 23.
Institutions too slash lending rates
Over a fortnight after the Reserve Bank of India's announcement of a reduction in bank rate, repo rate and cash reserve ratio, three financial institutions have slashed their lending rates.
BIFR ignores IDBI plea, declares Parasrampuria sick
As expected, the Board for Industrial and Financial Reconstruction (BIFR) has ordered rehabilitation of Parasrampuria Synthetics after declaring the company sick.
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