The Indian Express -- Business

Saturday, June 28 1997

FOREX RATES INDICES STOCK

Banks start cutting PLR

The Commercial banks have started cutting their prime lending rates (PLR) following the Reserve Bank decision to reduce the bank rate from 11% to 10%. Central Bank of India and Hongkong Bank have taken the lead in slashing their PLR.

NBFCs under MRTPC scrutiny

Twenty four Non-Banking Finance Companies are under investigation for possible violations of the Monopolies and Restrictive Trade Practices Act. The Directorate General of Investigation and Registration, a statutory body under the Act has sent notices to these companies for what are prima facie cases of improbable and misleading promises.

WB worried over slow pace of reforms

The World Bank's latest report on India which was presented in Paris at the Aid India meet a few days ago is very critical of the pace of economic reforms. While the report commends the higher growth of the last few years and talks of the reforms in various sectors, despite the political uncertainty, it says that the reforms in infrastructure areas are taking place much too slowly to address the crisis.

Madras Refineries unfazed by labour unrest

Punjab Tractors pays 80%

Central Bank turns the corner

More freedom for captive power units

Govt rules out duty-free gold

New Modvat scheme for SSIs

Jindal Iron net profit down

Bizbits -- New LIC chairman

Pfizer net up, to pay 40%

RIL reacts on profit-taking

Industrial growth slumps to 6.9%

IOC to pay 40%