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Journalism of Courage
Underwriting fee payment scheme
MUMBAI: The Reserve Bank of India RBI has today announced a 8220;scheme for payment of underwriting fee to primary dealersquot;. According to the scheme, a minimum of 25 of each issue of Government of India dated securities and treasury bills would be offered for underwriting by primary dealers and the underwriting amount and the underwriting fee will be determined on the basis of the bids submitted and accepted by the RBI for each issue.
Rhone Poulenc
MUMBAI: Rhone Poulenc India has earned a substantially higher net profit of Rs 20.23 crore during the year ended March 1997 from Rs 13.69 crore last year. The net sales during the year amounted to Rs 145.84 crore Rs 135.68 crore and other income at Rs 10.58 crore Rs 8.38 crore. It has earned a higher gross profit of Rs 35.10 crore against Rs 29.63 crore. The provision for depreciation is at Rs 3.03 crore Rs 3.24 crore and for taxation at Rs 14 crore Rs 12.70 crore.
Dubai Fair
MUMBAI: The Dubai Summer Fair, the frist of its kind in Dubai, will be held from June 22-July 6 1997 in halls 6 amp; 7 at the Dubai World Trade Centre.
This consumer show aims at attracting familes and students for shopping and indoor sports events.
Organized by MedEx, the show will offer retailers lucrative opportunities to promote and demonstrate their products and services while offering discounts and promotions to potential buyers in Dubai and the GCC countries. For further information contact: Dubai World Trade Centre LLC, PO Box 9292, UAE Tel:9714 3086079, Fax 9714 3064033.
K D Vora
MUMBAI: K D Vora, chairman, Kapol Co-Operative Bank Ltd, and former president of the Chemists amp; Druggists Association has been awarded the very first Vyapar Bhushan Puraskar for the year 1997 institutated by Federation of Assocations of Maharashtra FAM, for his oustanding social services for business community and public.
Sebi
MUMBAI: The Securities and Exchange Board of India has informed the Bombay Stock Exchange on May 7, that it has examined the applicability of rule 8 1 f and 8 3f of the Securities Contracts Regulation rules 1957 in relation to fund based activities of brokers and has opined that borrowing and lending of funds by a trading member, in connection with or incidental to or consequential upon the securities business would not be disqualified under Rule 8 1f and 83f. This decision came in the wake of representations received from various stock exchanges .
