FDI at $440 million for August 1999
New Delhi: Actual foreign direct investment inflow into India was $440 million (Rs.1,800 crore) during August 1999. This is an indication that the implementation of infrastructure projects in India is gaining momentum.

The top four industries that attracted investments were food processing, with Rs.349 crore, petroleum and petrochemicals, with Rs.216 crore, telecom with Rs.128 crore and power with Rs.100 crore.
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Crisil, Naredco in MoU
New Delhi: India’s premier rating agency, Crisil, and the National Real Estate Development Council (Naredco) have signed a memorandum of understanding to rate real estate projects and developers. Naredco is the one-year-old, apex self-regulatory body in the real estate sector, appointed by the urban development ministry.

In the meantime, Raymonds Ltd has been put under a credit rating watch by Crisil. The watch applies to the Raymonds’ forthcoming non-convertible debenture issue of Rs.105.5 crore, and its fixed deposit programme.
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DoT sues Trai
New Delhi: The department of telecommunications has filed a case in the Delhi High Court over the Telecom Regulatory Authority of India’s intervention in the Koshika Telecom case.
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New India, Allahabad Bank to go online
New Delhi: General Insurance Corporation subsidiary New India Assurance Company will be the first Indian company to offer all its general insurance products online. New India has computerised its 42 branches in Mumbai. By going online, New India’s customers can access information about their policies from any branch in Mumbai.

Allahabad Bank will give car loans online in the metropolitan cities in India. The customers can fill in abd submit application forms and there will be instant sanction, subject to the loan conditions. The bank is already sanctioning educational loans online.
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