Monday, October 5, 1998
Banks' bad loans under-estimated by over Rs 3,800 crore: Reserve Bank
The banking industry has under-estimated its non-performing assets (NPAs) by a whopping Rs 3,862.10 crore as on March 1997, according to a confidential Reserve Bank of India (RBI) document. The industry is also estimated to have underprovided to the extent of Rs 1,412.29 crore.
Draft mining bill may empower states to decide on licence renewal, transfer
The Mines and Minerals (Regulation and Development) Act is poised for a rehaul with the union mines ministry preparing a brand new bill to usher in dramatic changes in mining laws. The MMRD Amendment Bill will attempt to end the centre's supremacy over mineral reserves by handing over key decisions to state governments.
Unit Trust firms up plans for Gold Fund
The Unit Trust of India (UTI) is firming up plans to launch the country's first Gold Fund, a mutual fund scheme which will mobilise gold or a currency-denominated value of the precious metal with the aim of generating a return on the investment.
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