Foreign holding firms barred from charging fee for services
The finance ministry has decided to bar holding companies floated in the country by foreign companies from charging any fee for providing services and support to their downstream ventures in the country.

IIP launches awareness drive on edible oil packaging
The Indian Institute of Packaging (IIP) today announced a country-wide awareness programme to extend technological and related support to the edible oil industry.

Reserve Bank spells out punitive measures for Y2K-laggard banks
The Reserve Bank of India (RBI) has decided to enforce stiff measures including hiking of capital adequacy, restriction on branch expansion and suspension from the call money and the debt market on banks that fail to comply to Y2K requirements by March 31, 1999.

  In brief
  In brief
  Global oil demand heads for weaker recovery this year, says energy body
  IIP posts dismal growth at 3.2% in December
  Executive briefing
  Industry sceptical over outcome of ministerial meet on private gateways
  New Delhi tops in transmission and distribution losses
  Centre refuses to relent on fee deadline
  EREB opposes rise in RoE, two-part tariff
  Maharashtra seeks tax-free status for urban infrastructure projects
  Cement output spurts 9% in January
  Committee report to help decide city mill land sale
  Jagmohan disconnects industry's call for licence fee morator
  Industry scrambles to find answers
  AP plans to develop mega bandwidth for IT sector
  Japan monetary policy speculation reignites