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Govt finalises sell-off strategy for 19 PSUs
The Government has finalised its strategy for disinvesting in the 19 PSU under the Department of Heavy Industry (DHI). The main objective will be to ensure that none of these presently loss-making units close down. Hence, the choice of a partner will depend on its capability to keep the unit running.
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RBI refuses NBFC status to 4 cos
The Reserve Bank of India (RBI) rejected applications for certificate of registration submitted by four finance companies -- Rabadi Infin, Aditya Securities Pvt Ltd, Hoffland Leasing Ltd and Hoffland Investments Ltd. The RBI action was in accordance with Section 45IA of the Reserve Bank of India Act-1934. All these four companies will not be able to transact business as NBFCs.
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RBI, SEBI plan to plug loopholes
The two regulatory bodies, the Reserve Bank of India (RBI), and the Securities and Exchange Board of India (SEBI) are planning to increase coordination to plug all loopholes in the foreign exchange and equity markets to avoid a repeat of the South-east Asian crisis. A committee comprising of the RBI governor, Bimal Jalan, SEBI Chairman, DR Mehta and Finance Secretary, Montek Singh Ahluwalia has already held a meeting for increasing co-ordination at the policy level.
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MUL unveils new Omni, prices up by Rs 6,000
Maruti Udyog's upgraded Omni model with a new exterior, better comfort and extra built-in safety features will now be available in the market. The new Omni will be available in five and eight-seater options in colours like milky white, phoenix red, harvest green and dolphin blue. The ex-showroom price in Delhi of the new Omni five-seater is Rs 2.04 lakh (an increase of Rs 6,242) and Omni E is Rs 1.89 lakh, up by Rs 6,966.
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