Wednesday, April 14, 1999
BSE to set tough norms for board members
The Bombay Stock Exchange (BSE), which has been in the eye of the storm over price rigging, payment crisis and other malpractices, has decided to establish ethical standards for members of the governing board and other employees in a bid to change the blotted image of the exchange.
Satyam declares bonus, merger
The board of Satyam Computer Services has announced plans to merge three subsidiary companies with itself besides declaring a 1:1 bonus issue. The merger move is being viewed by market analysts as a precursor to a listing on the Nasdaq later this year.
Chambers demand interest cut
The Federation of Indian Chambers of Commerce and Industry (FICCI) has joined forces with the Confederation of Indian Industry (CII) in urging the government and the Reserve Bank of India (RBI) to announce reductions in bank rate, cash reserve ratio (CRR) and statutory liquidity ratio (SLR) in the forthcoming credit policy 1999-2000.
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