Saturday, July 4, 1998
Insurance companies lose Rs 1,300 crore in Gujarat cyclone
Insurance companies have taken a hit of Rs 1,200 to Rs 1,300 crore due to the recent cyclone in the western region of Gujarat. However as the insurance companies have taken a re-insurance cover with the international insurance companies, the loss of insurance companies would come down drastically.
NRI deposit growth stalls for first time
The growth in non-resident Indian deposits has stagnated for the first time after liberalisation. The total outstanding balance under the four NRI deposit schemes was at $ 20.39 billion as on March 31, 1998 as against $20.38 billion at the end of March 1997.
Dues to MTNL touch Rs 460 crore
Total outstanding dues to the Mahanagar Telephone Nigam Limited (MTNL) run into an astronomical sum of Rs 460 crore, Communications Minister Sushma Swaraj, said yesterday. The Congress owes MTNL more than Rs 1 crore, while Janata Dal has dues of Rs 1 lakh and BJP Rs 7,000, the minister said.
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