Tuesday, September 29, 1998
Reserve Bank takes a re-look at licensing norms for new banks
Five years after the first batch of new-generation private sector banks saw the light of the day, the Reserve Bank of India is reviewing the licensing norms of new banks.
Third-party motor premium increase may be reviewed
The Centre is likely to have a second look at the controversial hike in third-party motor premium, which was effective from February this year. The finance ministry had allowed a massive 200-700 per cent hike in this category over three years to balance the claim outflow on account of third-party claim.
Special import duty demanded on paper imports
The PHD Chamber of Commerce and Industry has demanded a hike in import duty on newsprint to check unhealthy inflow of the material into the country and to protect the interests of domestic industry. The chamber suggested a special customs duty of 5% and special additional duty of 4% per on newsprint to provide level playing field to domestic industry.
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