Credit policy on Oct 29
Mumbai, Sept. 19: The Reserve Bank of India will conduct a mid-term review of monetary and credit policy for 2002-03 on October 29 and is likely to reassess the projected growth rate of 6-6.5 per cent. Bankers expect a cut in the bank rate as the apex bank had stated in its annual monetary and credit policy in April that a 50 basis point reduction may depend on the monetary development. It had, however, not fixed any timing for lowering the bank rate.
Mumbai, Sept. 19: The government may come out with a legislation to prevent banks and financial institutions from misusing the harsh provisions of securitisation Ordinance for dealing with non-performing assets (NPA).
Mumbai, Sept. 19: The board of Associated Cement Companies Ltd (ACC) today appointed M. L. Narula as the managing director for a three-year period, effective from December 1, 2002 to October 31, 2005.
Mumbai, Sept. 19: Sebi will introduce an amnesty scheme — Sebi Regularisation Scheme — for listed companies and individuals who have failed to make or delayed disclosures under takeover regulations from October 1, 2002.
Washington, Sept. 19: WorldCom is preparing a new revision of its earnings that could add about $ 2 billion to already disclosed misaccounted funds, the Wall Street Journal said.