Saturday, February 13, 1999
BoB, BoI slash FCNR deposit rates
Bank of Baroda and Bank of India have kicked off a revision in the interest rates offered on FCNR-B deposits in view of the changes in the international scenario where interest rates have headed southwards.
Fundamentals against interest cut -- Tarapore
With the insatiable appetite for borrowing by government and the frequent forays into the market by financial institutions, corporates must realise that the underlying fundamentals are against any significant reduction in interest rates, RBI former deputy governor, SS Tarapore, has said.
FIPB to decide on Philip Morris subsidiary
After vociferous opposition forced it to defer a decision on the proposal to allow Rothmans to set up a wholly-owned subsidiary, another controversial tobacco investment proposal will be heard by the Foreign Investment Promotion Board (FIPB) tomorrow.
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