The Financial Express -- News

Sunday, November 16 1997

State Bank to increase FCNR-B interest rates

The State Bank of India (SBI) is all set to increase interest rates on foreign currency non-resident dollar deposits (FCNR-B) by 50 basis points at the shorter end of maturity with effect from November 17. The bank would, however, slash the rates by 25 to 50 basis points on all slabs above one year.

Badla rates hover at 4.7 per cent

Badla rates on the Bombay Stock Exchange (BSE) declined further to hover in the band of 4.70 to 6.5% annualised for a net outstanding position of 1.10 crore shares valued at Rs 173.21 crore. The first settlement of the modified carry forward system (MCFS) saw the volume of shares jump by 13% over its previous week's figures of 97.28 lakh shares.

Skindia GDR index slides by 1.24 per cent

Political uncertainty, exchange rate fluctuation and depressed South East Asian markets triggered selling in GDR markets during the week. The week, ended November 12, witnessed the Skindia GDR index sliding by 1.24% to close at 1,001.67 points against its previous close of 1,014.21 points. However, during the same period, the Skindia GDR Index Price earning figure also appreciated by 1.35% to close at 19.47 points.

Kerkar's exit may affect Taj plans in Kerala

India to apprise US of Pak hand in trans-border terrorism