pall@ecn.purdue.edu (Pallab K Bhattacharyya) (06/18/91)
1. SET TO LAUNCH MARKET BANKING DIVISION DENA BANK'S RECORD NET PROFIT Bombay (PTI): Dena Bank has created history by recording a five-fold increase in its net profit to Rs. 8.51 crore as against Rs. 1.50 crore in the previous year. Disclosing the highlights of the bank's working during year (ending March 1991) under review, G.S.Dahotre, chairman and managing director of the bank, said at a press conference here on May 31 that the bank's profit -- the highest in the bank's history -- was due to the increase in the interest on lending, step-up in service charges, income realised under debt waiver scheme, better recovery management and close monotoring of the operational costs. 2. PC EARMARKS HUGE MARKS FOR PUBLIC-SECTOR New Delhi: An outlay of Rs. 325,000 has been earmarked for the public sector in the Eighth Plan (1990 - 1995) by the Planning Commission. Commission Chairman, Mohan Dharia said that it wanted to achieve a high growth of six percent in the public sector and a greater role for the private sector. 3. ASSOCHAM: IMF LOAN IS THE ANSWER TO CRISIS New Delhi: A second loan and a higher amount of at least $5 billion fromthe International Monetary Fund (IMF) is the only answer to India's balance of payment (BoP) crisis, according to a study by the Associated Chambers of Commerce and Industry (ASSOCHAM). ASSOCHAM is of the opinion that the loan amount would also contribute towards a faster GDP growth and will curb inflation. End of News