The Telegraph
Since 1st March, 1999
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Business Briefs

Credit policy on April 29

Mumbai, March 19: The Reserve Bank of India (RBI) will announce the Monetary and Credit Policy for 2003-04 on April 29. RBI governor Bimal Jalan will hold a meeting with chief executives of major scheduled commercial banks on April 29 here for announcing the policy, the apex bank said today.

HLL unit strike

Calcutta, March 19: Workers at the Garden Reach factory of Hindustan Lever Limited (HLL) today resorted to a 72-hour strike in protest against the company’s efforts to disengage surplus contract workmen. A labour union spokesman said the management “was jeopardising the livelihood of workmen.” The management criticised the strike, saying it would jeopardise the viability of the plant.

Tisco scheme

Mumbai, March 19: Tisco shareholders have approved the scheme to adjust employee separation scheme expenditure up to Rs 1,550 crore against the balance in capital redemption reserves and securities premium account.

L&T contract

Mumbai, March 19: Larsen & Toubro (L&T) has bagged the Rs 1,242-crore turnkey contract to engineer, procure, construct and commission a PTA plant for Indian Oil Corporation at Panipat, Haryana.

Dell visit

Bangalore, March 19: Dell chief executive Michael Dell met Infosys CEO Nandan Nilekani as part of a visit where he took stock of the global computer giant’s India operations and addressed 3,000 employees at its hub here.

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