Financial Express - India's leading business newspaper from the Indian Express Group

GIC to be reinsurance company

Dispelling uncertainties over the fate of Rs 25,000-crore GIC of India and its four subsidiaries during the post-liberalisation period, the Centre has decided to make each of the four an independent company instead of merging them into one.

PM's is going to be a `power trip'

The forthcoming visit of the Indian Prime Minister, Atal Bihari Vajpayee, to the US is being considered crucial for the power sector as this will see signing of as many as five major power project development agreements and two technical co-operation agreements.

Panel moots bank exposure in equities at 5% of lendings

The joint committee comprising senior officials from the RBI and the SEBI has recommended that the ceiling on exposure of banks in equities, convertible debentures, and mutual funds (MFs) be increased to 5% of the total outstanding advances from 5% of the incremental deposits.

State energy minister, DPC officials discuss irritants as new issues crop up

Inordinate delays in picking up 30% equity into the second phase of 1,444 mw DPC, the monthly shortfall in the payment of DPC bill, ongoing agitation against the Matgas project and the vexed issue of an excrow cover dominated an exclusive meeting between the state energy minister and DPC officials recently.