Friday, September 18, 1998
Scam-tainted foreign banks exempt from incremental CRR maintenance
After collecting over Rs 124 crore as penalty, the Reserve Bank of India has restored the facility of exemption from the maintenance of the incremental cash reserve ratio for all scam-tainted foreign banks, except American Express and British Bank of the Middle East.
PMO seeks economic advisory panel's view on laundering bill
The Prime Minister's Office (PMO) has referred the money-laundering bill to the newly-set up economic-advisory council. The objective is to get a view of the 10-member council on the bill which has sharpy divided the finance ministry and the Reserve Bank of India (RBI) on certain vital issues.
Five-year plan cycle may be restructured: Jaswant
The Planning Commission is considering changes in the original five-year plan cycle in order to synchronise it with the five-year term of the elected government at the Centre and states as well as that of the Finance Commission. The Commission will also look into the most important trade commodity -- currency, according to Jaswant Singh, Deputy Chairman of Planning Commission.
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