RBI cuts 14-day T-bills yield to 6.27 per cent: The RBI on Friday reduced the 14-day treasury bills yield by 26 basis points to 6.27 per cent from 6.53 per cent earlier. The central bank received eight competitive bids worth Rs 875 crore and accepted three bids worth Rs 300 crore. There was no devolvement on the RBI or primary dealers. However, for the 91-day treasury bills, the yield remained unchanged at 7.77 per cent.RBI rejects Al-Falah Finlease registration: The RBI has rejected the application for certificate of registration submitted by Al-Falah Finlease. "The company will not be able to transact the business of a non-banking financial institution as defined in clause (a) of Section 451 of the RBI Act, 1934," an RBI release stated.
Three-day repos today: The RBI has announced three-day fixed-rate repos in Government of India dated securities on July 18 for parties holding SGL and current accounts.
Three-day repos results: The RBI on Friday mopped up Rs 1,046 crorethrough three-day 5 per cent fixed-rate repos. The central bank received eight applications and accepted all of them.
RBI notification on Givo: The RBI has notified that foreign institutional investors can now purchase equity shares and convertible debentures of Givo Ltd (formerely KB and T Ltd) through the primary market and stock exchanges. "As per the RBI's advise, Givo Ltd has passed a resolution at its board and general body meetings agreeing for purchase of its equity shares and convertible debentures up to 30 per cent of its issued and paid-up capital through the primary market and stock exchanges," an RBI release stated.
Copyright © 1998 Indian Express Newspapers (Bombay) Ltd.
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