Financial Daily
from THE HINDU group of publications

Friday, July 27, 2001








Page One

Blueprint for FIs to turn banks -- Easier CRR, SLR, investment norms on the cards
THE blueprint has been drawn up for facilitating a smooth transition of financial institutions (FIs) into universal banks. It envisages a host of relaxations in the existing banking laws and regulations including a softer approach towards the reserve req uirements and investment restrictions as compared to other banking entities.

Moody's, ICRA turn the heat on IFCI ratings
EVEN as Moody's today announced that it has put the `Ba2' rating of IFCI on review for a possible downgrade, rating agency ICRA has put the long-term, medium-term and short-term ratings assigned to the borrowing programmes of IFCI, its largest shareholde r, on rating watch with negative implications.

Philips to buy 46.8 pc stake in CG Glass -- To make open offer at Rs 13.75
ROYAL Philips Electronics NV (Philips) on Thursday announced that it would acquire a 46.8 per cent stake in the Baroda-based glass shells and tubes manufacturing company, CG Glass Ltd.

SEBI to discuss report on investor protection
THE SEBI board is scheduled to consider on Saturday the report of Dr N.L. Mitra on a new legislation for protecting the interests of small investors and also changes to the guidelines on takeovers for facilitating disinvestment in a few State-owned compa nies.

Govt refutes Jindal ad on duty bias
THE Finance Ministry today rebutted as "false, malicious and misleading" the allegations made by Jindal Aluminium in a newspaper advertisement, attacking the Government on the duty structure for base aluminium.

Young think-tank board at Godrej
GODREJ Consumer Products Ltd (GCPL) is setting up a parallel board of directors known as the Young Executive Board.

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