Saturday, October 3, 1998
RBI gives new banks micro-level freedom
The Reserve Bank of India (RBI) has given freedom to new-generation private sector banks to fix directors' fees and certain other perquisites of CEOs and board of directors without seeking the apex bank's clearance. RBI has also freed all commercial banks from seeking its permission for hiring new premises for branch expansion.
Reserve Bank set to delink rating from deposits
Good days seem to be around the corner for crippled non-banking finance companies (NBFCs). Pushed by Union finance minister Yashwant Sinha, the Reserve Bank of India appears all set to delink credit rating from the amount of public deposits an NBFC is allowed to accept.
Basic telecom operators seek licence fee deferral by one year
Basic telecom operators have sought a deferment of the payment of the second year's licence fee by a year. The Association of Basic Telecom Operators (ABTO) has sought a meeting with Telecom Commission chairman Anil Kumar to plead for a deferment in view of the unexpected project delays due to unforeseen problems.
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