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Sunday, March 21, 2004

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MONEY & BANKING

FOREX
Forex reserves increase by $464 million
THE country's forex reserves have risen by $464 million to touch $109.596 billion for the week ended March 12, 2004, as against $109.132 billion in the previous week, as per the latest RBI statistics. The rise in reserves was mainly due to a ... More

FOREIGN DIRECT INVESTMENT
`Voting right cap in banks turning off US investors'
US-based investors are not enthusiastic about investing in Indian private sector banks despite the Government hiking the foreign direct investment (FDI) cap from 49 per cent to 74 per cent because the foreign investor will not have any effective ... More

FINANCIAL INSTITUTIONS
Despite resignations by top brass — Govt may go ahead with plan to put IDFC under SBI fold
THE resignations of the top brass of Infrastructure Development Finance Company (IDFC) is unlikely to dilute the Government's intention of handing over the company to the State Bank of India. According to sources close to the Finance Ministry, ... More

CREDIT MARKET
Bank credit up by Rs 8,163 cr
GROSS bank credit in the system has gone up by Rs 8,163 crore during the fortnight ended March 5, to touch Rs 8,19,128 crore. This is inclusive of food credit at Rs 35,858 crore and non-food credit at Rs 7,573 crore. Total accommodation ... More

CO-OPERATIVES
Nabard may cut refinance rates for coop banks
THE National Bank for Agriculture and Rural Development (Nabard) is likely to reduce the rate of refinance for cooperative banks. The Chairperson of Nabard, Ms Ranjana Kumar, who was here to address the students of K.S. Hegde Institute of ... More


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Forex reserves increase by $464 million

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Mar. 14-Mar. 20
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The once-in never-out business of lockers


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