Friday, November 27, 1998
Standard & Poor revises IDBI, ICICI, Bank of Baroda outlook to negative
Standard & Poor's (S&P) has revised downwards the rating outlook on Industrial Development Bank of India (IDBI), ICICI Ltd and Bank of Baroda from stable to negative. The long-term foreign currency counter-party credit ratings on all three entities were affirmed at BB while the rating on the $150-million suboridanted debt of ICICI was affirmed at B-plus.
Orissa relents, decks cleared for CEPA power project
Decks have been cleared for the $4 billion, 3,960mw CEPA power project in Orissa with the state government deciding to withdraw its long standing demand for a 15% free power share from the project.
Excise board asks commissioners to levy specific duty on television sets
The Central Board for Excise and Customs (CBEC) has directed all excise commissioners to levy the specific duty on television sets where the maximum retail price (MRP) is not the sole consideration for the sale. The board has clarified that companies are required to compulsorily pay the specific rate of tariff on television sets and not the ad valorem duty.
|
|
