MRPL to float $125 mn GDR issue
Mangalore Refinery and Petrochemicals Ltd (MRPL), the joint venture company between Aditya Birla group and Hindustan Petroleum Corporation Ltd (HPCL), has firmed up plans to launch a $100 million global depository receipt (GDR) issue by the first quarter of 1998.
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Funds not used effectively: RBI
The role of the apex bank will increase as the economy becomes increasingly complex and competitive, said the Reserve Bank of India Governor, C Rangarajan. He said the incidence of poverty in India is still very large and it is estimated that the proportion of people living below the poverty line in 1997-98 was above 35%.
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