The Hindu Business Line : Sunday, March 06, 2005

Forex reserves up $2.7 b
THE country's foreign exchange reserves moved up by $2.699 billion during the week ended February 25, taking the total reserves to an all-time high of $135.658 billion from $132.959 billion in the previous week, as per the latest RBI ... More

Go by rule book while crediting funds from abroad, RBI tells banks
THE Reserve Bank of India has advised banks to strictly adhere to the guidelines under the Foreign Contribution (Regulation) Act while crediting funds from abroad by way of contributions to their account holders. The RBI has issued a master ... More

Chidambaram says no to withdrawal of service tax on forex payments
THE Finance Minister, Mr P. Chidambaram, on Saturday virtually rejected the industry's demand for a review of the decision to withdraw the existing service tax exemption on all payments received in convertible foreign exchange. The Finance ... More

STOCKS

Andhra Bank: Buy
AN investment in the stock of Andhra Bank can be considered at the prevailing price. The stock is trading at a price-to-earnings multiple (PEM) of nearly eight times its earnings for the 12-month period ended December 2004. The earnings for this ... More

CREDIT MARKET

Bank credit up by Rs 5,461 cr
GROSS bank credit has increased by Rs 5,461 crore for the fortnight ended February 18 to touch Rs 10,56,210, as per the latest RBI statistics. This is inclusive of food credit, which decreased by Rs 1,466 crore to touch Rs 41,482 crore. ... More

SHORT TERM INSTRUMENTS

91-day T-Bills auction

FIXED DEPOSITS

FD OPTIONS
Advantage company deposits
THE recent Budget plans to do away with Section 80 L, which exempted interest on certain types of debt investment from tax. Once the proposal takes effect, investment in small-saving schemes and bank deposits would ... More

PUBLIC OFFER

Punjab National Bank: Invest at Rs. 390
IN<150>VESTMENT can be considered in Punjab National Bank at Rs 390. The offer price is at a discount of about 10 per cent to the prevailing market price. At Rs 390, the higher end of the price band set for the ... More

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Bank credit up by Rs 5,461 cr

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