Friday, April 2, 1999
Hegde flays RBI for raising credit rates
Commerce minister Ramakrishna Hegde has blamed the Ministry of Finance (MoF) and the Reserve Bank of India (RBI) for overlooking the long-term benefits which would accrue to the economy on account on the accelerated inflow of foreign exchange from exports.
RIL redeems FCCBs worth Rs 400 crore
Reliance Industries Ltd (RIL) has redeemed outstanding convertible bonds of an aggregate face value of approximately $ 80 million (Rs 340 crore) on March 31, 1999, involving a total outflow of approximately $ 95 million (Rs 404 crore).
Usha's Kerala, Indore units likely to come under DoT
The Department of Telecommunications (DoT) is actively considering a proposal submitted by the Usha Martin Telekom Ltd for taking over its radio pager services in Kochi and Indore. If the DoT plan sees the light of the day, it will be the first major foray by the utility giant into areas outside its fief, basic telecom.
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