The Indian Express -- Business

Sunday, November 16 1997

FOREX RATES INDICES STOCK

GDR index, Sensex fall by over 2%

Sellers seem to be swamping both domestic stock markets and overseas global depository receipts market (where Indian shares are listed) these days. Political uncertainty, exchange rate fluctuation and depressed South-east Asian markets triggered selling in both the GDR and domestic markets during the bygone week.

Growth in money supply rises 17%

Dark clouds are once again gathering on the monetary front with the money supply growth - or M3 in economic textbooks - rising to the year's high of 17%. At this level, the money supply growth has overshot the target of 15-15.5% set by the Reserve Bank of India for the year 1997-98.

SBI to increase FCNR(B) rates

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

FM blames industry for slump

Silver prices rise sharply

Bizbits -- Remy offer for Sahney holding

GDR index, Sensex fall by over 2%

Growth in money supply rises 17%

SBI to increase FCNR(B) rates

Dues to co-ops touch Rs 2,232 crore

Launchpad -- Lens care system

ULCRA repeal to aid housing cos

UTI chief wants retail investors to reduce volatility in markets

Economists warn India to be vigilant

Australia govt to rake in $10 billion from Telstra issue

New DSE board

UBI shuts down branches after extortions, threats