Monday, August 23, 1999
RBI drafts new act to regulate finance firms
The Reserve Bank of India has drafted a new law--Parabanking Regulation Act--to regulate non-banking finance companies (NBFCs).
Konka, Wittis may buy out Hotline stake in local venture
Konka and the Hong Kong-based Wittis are expected to jointly buy out the 25% stake held by Hotline in Konka Electronics India following the Indian partner's decision to walk out of the joint venture company.
Centre tightens grip on ailing PSUs bailout
In a significant overhaul, the Government has issued a directive that all ailing public sector units undergoing capital restructuring will have to sign an MoU with the finance ministry which will define financial and physical targets that will have to be achieved within a definite time frame.
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