Saturday, September 4, 1999
MFs allowed to invest in GDRs
The RBI has given its approval to a proposal by SEBI to allow mutual funds to invest in American depository receipts (ADRs) and global depository receipts (GDRs) of Indian companies.
RBI to review overseas investment rules
The RBI has hinted at reviewing the ceiling clamped on banks with regard to their borrowings and investement overseas and existing ceilings on interest rates and maturities of foreign currency non-resident (FCNR) deposits.
SAIL rejects McKinsey proposal
Steel Authority of India Ltd (SAIL) has decided not to implement McKinsey's recommendation for closure of subsidiary alloy steels plant (ASP) in Durgapur.
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