Step up import of pulses: PM

Concerned over the sharp rise in the prices of pulses, the Prime Minister, Mr. P. V. Narasimha Rao, has directed Government agencies such as the State Trading Corporation (STC) and NAFED to step up imports. At a review meeting on Wednesday of the price situation of essential commodities, Mr. Rao also directed the Food Corporation of India (FCI) to intervene in the market by increasing its open sales of rice and wheat whenever it became necessary to moderate the price levels.

TN sets more eco conditions

The Tamil Nadu Pollution Control Board (TNPCB), which gave a consent to establish the nylon 6,6 tyre chord plant of Thapar Du-Pont Ltd. (TDL) at Gummidipoondi near here, has imposed some additional conditions with relation to environmental management. The TNPCB Chairman, Mr. P. Shankar, told Business Line that the board had given a general consent earlier, and had stipulated that based on the environmental impact assessment (EIA) there would be additional conditions. According to him, there was nothing extraordinary in the conditions. He also said that some of the conditions had been incorporated in the EIA.

Finance companies hiking rates

Non-banking finance companies (NBFCs) are increasing their leasing and hire purchase rates by about one per cent. Following informal consultations among members of the industry, NBFCs active in the vehicles business are hiking rates. Sundaram Finance Ltd (SFL), the market leader in heavy vehicle finance, is understood to have decided to increase rates from 15.5 per cent flat to 16.5 per cent. The new rate is expected to be made effective during the course of the next week for new contracts.

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