Wednesday, September 30, 1998
RBI to allow overdraft facility to gilt players
The Reserve Bank of India (RBI) has decided to allow banks, primary dealers and other player in the gilts market an additional credit limit proportionate to their financial worth and overdraft facility. The central bank will also allow money market players to pledge securities to secure daylight overdrafts through simple securities' transfer mechanism.
US-64 asset depreciation pegged at only Rs 150 crore: UTI chief
The negative balance of Rs 1,098.49 crore in the reserve account of US-64 scheme, as on June 30, 1998 has as of now come down to Rs 150 crore. The US-64 scheme had faced a depreciation in its assets, to the tune of Rs 3,566 crore.
Sierra Optima plans private placement of equity shares at a premium
Sierra Optima is yet another infotech company which is all set to cash in on the software rally on bourses. Sierra Optima is planning to take the private placement route to raise fresh capital.
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