State Bank to set up gold-refining subsidiary
The State Bank of India (SBI), along with four nationalised banks, is working out last-minute modalities for setting up a subsidiary for refining and assaying yellow metal. SBI is also holding talks with two international bullion suppliers for a strategic alliance in the proposed venture.

Whirlpool India units register 50% growth
Whirlpool of India Ltd has outperformed the industry with a 50% growth in units and `even higher growth in revenues'. During 1998, the refrigerator industry grew by 22% while washing machines grew at 17%.

PFC seeks counter-guarantee for extending loan to Tehri project
The Power Finance Corporation (PFC) has sought a counter guarantee from the Union government and a guarantee from the state government for extending a Rs 500 crore loan to the Rs 6,108-crore Tehri hydro-electric project in Uttar Pradesh.

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