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April 1998

• April 30, 1998
Jalan does not cut CRR in first credit policy
'I feel the economy has the potential to grow by 7 to 8 percent'
Only Indians, not foreigners, are exercised over swadeshi: FM
Prune fiscal deficit, Jalan tells Centre
Industry welcomes 'growth-oriented' credit policy
FIIs allowed to buy and sell T-bills
RBI to issue discussion paper on banking sector reforms
BSE: 3964.95; Sensex nosedives by 112.55 points
NSE: 1151.10; Nifty up by 4.30 points
Forex: Rs 39.7350/7450; Rupee loses marginal ground

• April 29, 1998
PMO to monitor economic growth
'You won't be kicked out': PM assures MNCs
RBI governor walks a tightrope
Sinha seeks suggestions from FIs to revive India Inc
Maharashtra launches Operation Airlink
NSE: 1146.80; Nifty dips 17.55 points

• April 28, 1998
'Companies are still treated as family property'
India will present its case before WTO with force, says Joshi
RIL earns net profit of Rs 16.53 bn, okays 35 pc dividend
Reforming power! Regulatory commissions soon
BSE: 4082.83; Sensex goes up by 31.85 points
NSE: 1164.35; Nifty dips 9.45 points
Forex: Rs 39.72-73; Rupee declined marginally

• April 26, 1998
Kerala is India's Golden Gate!
Hegde flays protections, asks industry to be competitive
Budget to be presented on June 1
Infrastructure investment will increase, says M S Ahluwalia
Khan working group suggests bank, FI mergers

• April 25, 1998
The swadeshi brigade plans to spread the word against MNCs
Economists stress need to cut subsidies
Staff flay Narasimhan report to close unviable banks
Scrapping and renegotiating Enron cost $175 million
BSE: 4050.98; Sensex loses still another 41.25 points
NSE: 1173.80; Nifty dips 8.30 points
Forex: Rs 39.70-71; Rupee steady

• April 24, 1998
Kerala legislature attacks new Exim policy
Board culls steps to widen tax base
Clinton may address US-India business meet
BSE: 4092.23; Sensex loses another 87.21 points
NSE: 1182.10; Nifty drops 28.70 points
Forex: Rs 39.69-70; Rupee steady

• April 23, 1998
Gupta panel recommends liberalising agriculture loans
Derivatives trading by midyear, hints SEBI chief
BSE: 4280.96; Sensex plunges 100 points
NSE: 1210.80; Nifty dips 1.95 points
Forex: Rs 39.70-71; Rupee steady

• April 22, 1998
Congress MP claims more wealth than Mittal, Ambani
Blackout! Goa starved of power
'Indian companies must prepare for globalisation'
BSE: 4280.96; Sensex shoots up 70.23 points
NSE: 1212.75; Nifty gains 5.6 points
Forex: Rs 39.66-70; Rupee weakens by 3 paise

• April 21, 1998
Exim Policy shock for Kerala
BSE: 4210.73; Sensex gains 23.97 points
NSE: 1207.15; Nifty loses 2.85 points
Forex: Rs 39.64-66; Rupee hardens by 3 paise

• April 19, 1998
Cola war hots up as Pepsi take Coke to court
BJP likely to delay capital account convertibility
Budget likely in last week of May
Stocks review: Another good week

• April 18, 1998
Govt will cut deficit, boost growth, Sinha tells IMF, WB
Foreign investment to be cleared case-by-case
BSE: 4186.78; Sensex gains 52.46 points
NSE: 1210.00; Nifty rises 12.95 points
Forex: Rs 39.68-69; Rupee steady

• April 17, 1998
Globalisation risks worry developing countries
SEBI tightens screws on companies
BSE: 4134.32; Sensex drops 58.18 points
NSE: 1197.05; Nifty dips 9.25 points
Forex: Rs 39.68-69; Rupee gains 3 paise

• April 16, 1998
Bengal passes the buck to Delhi on Dunlop promise
Swadeshi no bar to business, FM tells Americans
Goa ban on gutkha irks traders, pleases public
Panel suggests sugar decontrol
BSE: 4192.50; Sensex zooms 106.57 points
NSE: 1206.30; Nifty rises by 46.85 points
Forex: Rs 39.72-73; Rupee loses another 10 paise

• April 15, 1998
Sadhus vs the Big Mac
Will exim policy go dream budget way?
Bias against Indian computers, claims plea
Sinha to meet IMF, WB officials
Markets closed on account of Ambedkar Jayanti

• April 14, 1998
Exim policy for export thrust, to set up anti-dumping body
Forex: Rs 39.60-62; Rupee weakens by 10 paise
BSE: 4085.93; Sensex drops 32.36 points
NSE: 1159.45; Nifty loses 32.95 points

• April 12, 1998
Goa to allow offshore casinos
Stocks review: BSE, NSE gain over week

• April 10, 1998
Nadars now banking on Jayalalitha
Goa hoping for tax benefit extension
Videocon promoters offer to buy shares in open market
NSE: 1209.60; Nifty up 21.80 points
BSE, Forex closed on account of Mahavir Jayanti

• April 9, 1998
UN agency lauds India's pace of reforms
BMW bike prices slashed as sales crawl
BSE: 4183.57; Sensex loses 10.70 points
NSE closed on account of Bakri Id
Forex market closed on account of Bakri Id

• April 8, 1998
Indian Cements takes over Raasi to become #2
WTO favours India against US in shrimp case
Forex: Rs 39.60-61; Rupee weakens by 5 paise
BSE: 4194.27; Sensex zooms up 24.05 points
NSE: 1187.80; Nifty up 0.70 point

• April 7, 1998
FM bypasses swadeshi, welcomes foreign investment
Simple notice not enough to sack employee, says SC
Be ready for hard decisions, Vajpayee tells BJP cadres
European economist backs BJP's economic policies
Forex: Rs 39.555-565; Rupee loses 4 paise
BSE: 4170.22; Sensex zooms 94.17 points
NSE: 1187.10; Nifty gains 13.65 points

• April 5, 1998
Stocks review: BSE crosses 4000 mark; NSE up

• April 3, 1998
Jaya's man is de facto boss in finance ministry
State Bank cuts prime lending rate
Forex: Rs 39.50-51; Rupee weakens by 3 paise
BSE: 3992.72; Sensex rises further by 23.15 points

• April 2, 1998
Environmental conservation second to development, says PM
Rags-to-riches saga's Torrent group chief, U N Mehta, dead
BSE: 3969.57; Sensex shoots up 76.82 points

• April 1, 1998
IIT Takeoff! Boeing picks on Indian brains
Goa dearer for tourists