Banks can now roll over investment in IFCI
Mumbai: The Reserve Bank of India has agreed to grant case-by-case exemption to banks deciding to roll over their investments in IFCI Ltd from their rolled-over amounts being treated as non-performing assets as is required under the present norms. The RBIs decision has been conveyed to banks by RBI deputy governor G P Muniappan.
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War not to affect Indian economy, says Sinha
New Delhi: Finance Minister Yashwant Sinha said the Indian economy is better prepared for a war than Pakistan, though he said that war is the last option. We have to look at the situation comparatively, he said.
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Musharraf speech may affect Indian bourses
Mumbai: Shares are likely to take fright today as Pakistan President Pervez Musharrafs harsh speech yesterday is seen to raise the risk of aggravating border tensions, brokers said. Musharrafs speech does not inspire confidence and the overall situation remains volatile, an analyst said. Of course, there is no respite to the markets.
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More IPOs to save a declining market
Mumbai: A slew of high-profile companies are all set to tap the stock market over the next six months, boosting hopes that Indias moribund primary market is waking up from the slumber of the past few years. Analysts say investors are likely to tempted by the solid fundamentals of the companies planning issues and enter the market in which they burnt their fingers not so long ago.
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Centre asks RBI to speed up gilts demat
New Delhi: The government has asked the RBI to expedite the conversion of all government securities at present in physical form into electronic mode, in the backdrop of the multi-crore gilts scam involving some cooperative banks and broking firms.
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Cement prices may pick up in September
Mumbai: The currently depressed cement prices across the country are expected to pick up only in mid-September 2002 after the monsoon ends.
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Regulators tighten norms on financial sector
New Delhi: A tightening of regulatory norms in the financial sector, including the banking and capital markets segments and also private placement of debt, may be under way, say officials.

The banking and capital market regulators will also examine the scope for taking further punitive action against those involved in the government securities scam, resulting in substantial losses for several State cooperative banks.
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