Inflation up
New Delhi: The inflation rate rose to 2.95 per cent for the week ended 23
October. The recent increase in diesel prices is said to be one of the reasons for this
increase. The annual rate of inflation, based on the wholesale price index, rose for the
fourth consecutive week.
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News Review index pageIDBI to restructure NPA
Mumbai: The Industrial Development Bank of India has drawn a plan to
restructure its non-performing assets and high interest costs, the factors that pulled
down its profits in the first half of the current financial year. IDBI’s chairman and
managing director G.P. Gupta said the financial institution will do a stringent reworking
of the non-performing loans, involving extending of maturity in cases which are deemed
viable.
The institution is also considering reducing interest
rates for some of its borrowers as they find repayment difficult due to high rates. The
condition will be that they pay 50 per cent pre-payment premium.
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Royal
Bank, Spanish bank in bid for NatWest
London: Royal Bank of Scotland is talking to BSCH of Spain about a joint
effort to bid for National Westminster Bank of Britain. Royal Bank said it is monitoring
the situation but added it "never commented on speculation".
The Sunday Times said the counter-bid will come
next month and will be a cash and share offer valuing NatWest at $42.20 billion.
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