Saturday, August 15, 1998
Cut-off yields on 14-, 91-day T-bills hiked
The Reserve Bank of India on Friday hiked the cut-off yields on the 14- and 91-day treasury bills by 78 basis points and 25 basis points, respectively, signalling a higher interest rate at the shorter end.
Carryforward rates recover to settle at 13%
Carryforward rates on the Bombay Stock Exchange (BSE) registered a sharp recovery to touch a high of 15-16% annualised. The increase in the badla rates has been attributed to the steady rise in the outstanding positions coupled with the absence of big-time badla financiers in the market, considering the beginning of the festive season.
SHCIL plans single-window facility for investors
The Stock Holding Corporation of India (SHCIL) has set up a model `kiosk' through which an investor will be able to place orders with a `smart card'.
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