RBI DEFINES WILFUL DEFAULT AS PER CVC ORDER ON COS

Article Abstract:

The Reserve Bank of India has developed a definition for wilful default by a borrower for informing public about such information. The Central Vigilance Commissioner had directed the RBI to develop such guidelines in November 1998. RBI defines wilful default as deliberate non-payment of loans although companies have the capacity to pay. RBI has issued guidelines to banks for reporting wilful defaults from companies of loans above Rs25 lakh. This will provide an early information about companies defaulting on repayment of loans. It will also help in better monitoring of banks' advances. (um)(vr)

Comment:

The Reserve Bank of India has developed a definition for wilful default by a borrower for informing public about such information.

Banking Institutions, Depository Credit Intermediation, Government regulation, DEPOSITORY INSTITUTIONS, India, Banks (Finance), Reserve Bank of India

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ENTHINK LICENCES WORK WORTH $1 MILLION

Article Abstract:

EnThink Inc of the US, a division of Wipro which was set up in September 1998 to cater to the market needs for semi-conductor intellectual property, has already licenced work valued at $1 million. The company, which was set up with an initial investment of $2.5 million, as licenced property to VLSI Technologies and two Japanese companies. Its portfolio of intellectual property blocks at present includes products in the segments of IEEE 1394, universal serial bus, ethernet and asynchronous transfer mode. (khr)

Comment:

EnThink Inc of the US, a division of Wipro which was set up in September 1998 to cater to the market needs for semi-conductor intellectual property, has already licenced work valued at $1 million.

United States, Semiconductor Devices, Semiconductor and Related Device Manufacturing, Alliances, partnerships, Computer aided design, Applications software, VLSI Technology Inc., VLSIG, EnThink Inc.

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