FDI
at $440 million for August 1999
New Delhi: Actual foreign direct investment
inflow into India was $440 million (Rs.1,800 crore) during
August 1999. This is an indication that the implementation
of infrastructure projects in India is gaining momentum.
The
top four industries that attracted investments were food
processing, with Rs.349 crore, petroleum and petrochemicals,
with Rs.216 crore, telecom with Rs.128 crore and power
with Rs.100 crore.
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Crisil,
Naredco in MoU
New Delhi: Indias premier rating
agency, Crisil, and the National Real Estate Development
Council (Naredco) have signed a memorandum of understanding
to rate real estate projects and developers. Naredco is
the one-year-old, apex self-regulatory body in the real
estate sector, appointed by the urban development ministry.
In
the meantime, Raymonds Ltd has been put under a credit
rating watch by Crisil. The watch applies to the Raymonds
forthcoming non-convertible debenture issue of Rs.105.5
crore, and its fixed deposit programme.
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DoT
sues Trai
New Delhi: The department of telecommunications
has filed a case in the Delhi High Court over the Telecom
Regulatory Authority of Indias intervention in the
Koshika Telecom case.
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New
India, Allahabad Bank to go online
New Delhi: General Insurance Corporation
subsidiary New India Assurance Company will be the first
Indian company to offer all its general insurance products
online. New India has computerised its 42 branches in
Mumbai. By going online, New Indias customers can
access information about their policies from any branch
in Mumbai.
Allahabad
Bank will give car loans online in the metropolitan cities
in India. The customers can fill in abd submit application
forms and there will be instant sanction, subject to the
loan conditions. The bank is already sanctioning educational
loans online.
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