Sunday, October 4, 1998
RBI likely to relax NBFC rating norms
Pushed by 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. An announcement is stated to be imminent, perhaps coming as early as the third week of October.
DoT clears decks for revenue sharing
The Department of Telecommunications (DoT) has cleared the decks for an era of revenue sharing to replace the licence fee regime starting with paging services in cities. The telecom department has proposed that paging companies be given a five-year extension across the board and those operating services in cities be levied revenue sharing as an alternative for the licence fees.
NRI deposits dip in first half
Non-resident Indian (NRI) deposits have shown a negative growth for the six months ended September of the current fiscal. Bankers feel the dip in NRI deposits will worsen in the months ahead.
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