The rate of inflation based on the final wholesale price index now stood at 3.08 per cent as against the 3.11 per cent calculated on the basis of the provisional index. It is likely that the upward trend will continue for some more time.
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REP licences may be back
New Delhi: REP licences which had a great time in the past, is all set to come back with a bang. The government is said to be planning to bring back the REP license scheme in the impending amendment of Exim policy, in lieu of the pre-shipment duty entitlement passbook and quantity based advanced licensing schemes. It is expected that the amended policy will be announced on March 31, 2000.

Under the REP scheme, the exporter first exports the goods and then imports inputs at nil duty rates based on agreed input-output norms. It is believed that the REP system would ease the complications currently being faced by the regulating agencies on the import versus export of products.
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Sikkim banks to finally come under BRA
Gangtok: Banking companies in Sikkim, till now exempt from the purview of the Banking Regulations Act, are soon to be brought under its purview, according to senior officials of the Reserve Bank of India.

Recently, the Sikkim Bank Limited, registered under the old provisions, came into the limelight for having completely eroded its capital following a sharp rise in its non-performing assets.
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