20 years ago today

Twenty Years Ago Today

September 8 | Updated on September 07, 2021

Thumbs down for rate cut plea

The Government and the Reserve Bank of India today turned down India Inc's plea for a further cut in interest rates to spur industrial growth, even as it held that pump-priming measures, amendments to labour laws, revival of stock markets and reforms in infrastructure sectors would help reverse the current economic slowdown.

US Exim bid to support Dabhol

The US Exim Bank today filed an intervention petition in the Mumbai High Court in support of Dabhol Power Company's petition in which it has challenged the jurisdiction of Maharashtra Electricity Regulatory Commission (MERC). “The ERC Act does not confer any powers of adjudication or any jurisdiction upon respondent no 2 (MERC) in relation to (a) any dispute or difference arising out of or in connection with the PPA and or (b) those disputes and differences referred to arbitration by the petitioner...” the petition said.

Clean up act, PM tells India Inc

India Inc today got a dressing down from the Prime Minister, Mr Atal Bihari Vajpayee, for stock market manipulations and poor standards of corporate governance. Captains of industry were warned that market irregularities, if unchecked, would only undermine public support for second-generation economic reforms. “I urge the business community to clean up its act and give a better account of itself, both to the Government and to the people. While we are reforming our system of governance, I would like you to reform your system of corporate governance,” Mr Vajpayee told the members of the reconstituted Advisory Council on Trade and Industry.

Published on September 07, 2021

Follow us on Telegram, Facebook, Twitter, Instagram, YouTube and Linkedin. You can also download our Android App or IOS App.

  1. Comments will be moderated by The Hindu Business Line editorial team.
  2. Comments that are abusive, personal, incendiary or irrelevant cannot be published.
  3. Please write complete sentences. Do not type comments in all capital letters, or in all lower case letters, or using abbreviated text. (example: u cannot substitute for you, d is not 'the', n is not 'and').
  4. We may remove hyperlinks within comments.
  5. Please use a genuine email ID and provide your name, to avoid rejection.

You May Also Like