Wednesday, March 31, 1999
IDBI clears Rs 772 bailout for 6 steel companies
The Industrial Development Bank of India (IDBI) on Tuesday approved Rs 772 crore of additional loans for six steel projects, on condition that the promoters pledge their shareholdings with the financial institutions and bring back funds diverted from the ventures.
Siel to buy back 15% Honda stake
Siel Ltd received shareholders' approval at its annual general meeting on Tuesday to buy back 15% equity stake in its joint venture Honda Siel Cars India by pumping in Rs 54 crore.
FM hints at changes in borrowings
Finance minister Yashwant Sinha has hinted at a change in the maturity profile of the government's borrowing programme to reduce the interest burden. Sinha also said that a constitutional cap on borrowing was not workable.
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