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Corporate Economy Expressions Markets Leisure Sunday, March 22, 1998   Forex reserves up $371 million The total foreign exchange reserves of the country increased by $371 million during the week ended March 13. Total foreign exchange reserves have gone up to $27.81 billion from $27.44 billion, according to the weekly statistical supplement released by the Reserve Bank of India (RBI).   Skindia GDR index increases 3.37% to 936.98 points Dark clouds of uncertainty and instability dispersed with the formation of the BJP-led government at the centre. Reflecting the upbeat mood of the market, the Skindia GDR index closed at 936.98 points on March 19, registering a 3.37% jump over its previous week's close of 906.46 points. Icra downgrades Samtel debenture programme ICRA has downgraded the Rs 2.72 crore non-convertible debenture programme of Samtel India (SIL) from LBBB+ to LBBB-. The revised rating indicates moderate safety. Recruitment blues: BSE hires, TUs spew fire The Bombay Stock Exchange's recruitment policy of hiring management trainees and promoting them to deputy managers has run into trouble with the employees' union dragging it to court on the issue.   Carryforward rates touch a high of 51% The last settlement of the current financial year on the Bombay Stock Exchange saw the carryforward rates flare up by over 30% to touch a high of 51% annualised during the intra-day's session. The rates however, settled down in the band of 32-38 per cent annualised for a net outstanding position valued at Rs 619.86 crore. High banking service costs undo RBI efforts to control interest rates The Reserve Bank of India governor Bimal Jalan has stated that the transaction costs for the banking services in the country are very high and even have a bearing on the formulation of the monetary policy in that it reduces the manoeuverability of the policy makers so far as interest rates are concerned.     Silver prices bounce back