GOVT BORROWING PUSHES WMA UP TO Rs5,318 Cr
Article Abstract:
The government of India borrowings from the Reserve Bank of India has seen a surge during the 15 days ended February 5, 1999. The total outstanding under the Ways and Means Advances (WMA) has risen by Rs4,194 crore to Rs5,318 crore. For the week ended January 23, 1999, WMA outstanding increased to a maximum of Rs6,854 crore. The government raised Rs5,000 crore through private placement of securities with RBI. On February 20, 1999, RBI's sale of government securities amounted to Rs437 crore. RBI's repos during the same period amounted to Rs2,484 crore. For the fortnight ended January 29, 1999, the year-on-year (yoy) M3 money supply growth increased to 19.9 percent (19.8 percent in the previous two weeks). (um)(m)
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1999
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TCL TO DOUBLE PAID-UP CAPITAL TO Rs 600 CR
Article Abstract:
Tata Communications Limited (TCL), a cellular services provider, plans to raise its paid-up capital from Rs300 crore to Rs600 crore. TCL is a joint venture between Tata Telecom and Bell Canada International Inc. The move is aimed at improving TCL's debt equity ratio as it has raised rupee and dollar term loans worth $123.5 million (Rs500 crore) from Bank of America, Toronto Dominion Bank and Industrial Development Bank of India. It has also increased its foreign equity from Rs147 crore to Rs294 crore. (ag)
Comment:
Tata Communications Limited (TCL), a cellular services provider, plans to raise its paid-up capital from Rs300 crore to Rs600 crore.
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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RBI SET TO FINANCE SOFTWARE PROJECTS
Article Abstract:
The Reserve Bank of India (RBI) will soon come out with a set of guidelines to provide funds for the software industry. A committee, led by the State Bank of India, was set up to formulate a set of guidelines for banks to finance the software sector. The committee has recommended that banks consider past performance and order book position as collateral to give working capital loans. (khr)
Comment:
Will soon come out with a set of guidelines to provide funds for the software industry
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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