Saturday, February 6, 1999
RBI allows JP Morgan, 3 others to trade in gilts
The Reserve Bank of India (RBI) on Friday gave the final clearance to four entities -- JP Morgan Securities, ABN-Amro Investment, Ceat Financial Services and Tata Finance -- to set up primary dealerships (PDs) in the government securities market.
Centre to mop up Rs 535 cr via Nalco recast plan
The Centre has cleared National Aluminium Company's capital recast plan for converting 50% of the public sector undertaking's equity into debt. The debt, in turn, will be subscribed to by banks and financial institutions by way of private placement of six-year, 14.5 per cent (semi-annual) bonds.
RBI shelves gold swap scheme
The Reserve Bank of India (RBI) has shelved the `locational swap' of bullion scheme proposed last year by the central bank for utilising its bullion reserves lying idle as a revenue generating commodity.
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