ALL PARES WORKWEEK FURTHER
Article Abstract:
Ashok Leyland Ltd has taken permission from the state labour department of Tamil Nadu to reduce the number of working days to 3 days a week at its Ennore unit and to 4 days a week at its Hosur unit from September 1, 1998. The company will follow the rules of the law and pay only half wages for the lay-off period. The company has been adversely affected by the recession and slowdown in the heavy duty truck market. (khr)
Comment:
Has taken permission from Tamil Nadu labor dept to reduce number of working days at its Ennore & Hosur units from 9/1/98
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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100% SUBSIDIARIES OF FOREIGN BANKS LIKELY
Article Abstract:
Overseas banks are likely to get approval from the Indian government to set up their 100 percent subsidiaries in India subject to certain credit norms. Under the existing norms, foreign banks are allowed to operate in the Indian banking sector either by obtaining branch licenses from the Reserve Bank of India (RBI) or through a 20 percent equity participation in a private sector domestic bank. (gs)(m)
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1999
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