The Financial Express -- News

Sunday, July 27 1997

FIIs not allowed to trade in T-bills: RBI

The Reserve Bank of India (RBI) has reiterated that foreign institutional investors (FIIs) will not be allowed to trade in treasury bills. According to the RBI guidelines, only the dedicated debt funds from the FIIs are allowed to invest in dated securities of both the central and state governments.

Infrastructure Bond Issue

Banks directed to ensure strict compliance with account opening procedures

Alarmed at the growing incidents of money laundering and tax evasion through benami accounts and production of fake import bills, the Reserve Bank of India has directed all commercial banks to ensure strict compliance with account opening norms and monitoring of operations.

M3 declines as RBI stays away from forex markets

Money supply (M3) has dipped for the second time during the current financial year by 0.5 percentage points to 16.3%, putting to rest apprehensions that M3 might breach the 17% barrier. For the fortnight ended July 4, M3 was pegged at 16.3%, down from 16.8% in the previous fortnight.

Export promotion board set up

Power Finance moots regional tariff structure for SEBs