RBI allows banks to mobilise gold from market
The Reserve Bank of India (RBI) has allowed banks to mobilise gold from the domestic market by floating a gold deposit scheme and buying gold from jewellers and the metal holders.

Bull charge on as Sensex spurts 98 points
Equity markets continued to witness a spate of institutional purchases with sentiment of local participants marked higher. Reflecting the strong undercurrent, the 30-share Sensex rose by 98.75 points to close at 3,397.84 points yesterday.

Unit Trust hikes equity exposure limit in its new monthly income scheme
The first monthly income plan from Unit Trust of India for 1999 will take a maximum 30% exposure in the equity markets. This is significantly higher than the ceiling of 20% applicable in all MIPs launched till 1998. UTI has already filed the draft prospectus with the Securities & Exchange Board of India.

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