Inflation drops below 5% again
After a brief upward spell, the inflation rate has once again receded below the 5% mark to touch 4.91% on April 4 due to substantial decline in prices of food articles and food products. It was 5.03% in the preceding week. However, it was 6.66% during the corresponding week last year.
ONGC plans higher investment in N-E
The Oil and Natural Gas Commission (ONGC) plans to invest a sum of Rs 3500 crore in the eastern region comprising Assam, Nagaland and Meghalaya during the ninth plan.
Cos take a step backward in transparency
When it comes to protecting the interest of investors, companies and financial institutions show scant interest these days. Companies, even the so-called blue-chip ones, prefer to keep investors in the dark about the happenings, which normally leads to chaos in the market-place.
BIFR package for Eastern Telecom
The Board for Industrial and Financial Reconstruction (BIFR) has sanctioned a Rs 3.63 crore rehabilitation scheme for the joint sector company Eastern Telecom and Technology Limited (ETTL) envisaging a change in the product mix and a one-time settlement with banks.
EFT system to take off in 2000
The much-awaited Electronic Funds Transfer (EFT) system, initiated by the Reserve Bank of India (RBI), is expected to take off in the year 2000. The Rs 50-crore project will have nodes throughout India and cover over 500 centres. In the first phase, 20 major cities which account for approximately 50% of the total business in the country will be covered.
FCI orders immediate payment of wheat bonus
The Food Corporation of India (FCI) has instructed all its field officers in Punjab to distribute wheat bonus of Rs 55 per quintal ``promptly and simultaneously'' with the minimum support price of Rs 455 a quintal to farmers selling their produce to government agencies.
