Briefly Business: Forex reserves up $1.196 billion to $293.84 billion

The foreign exchange reserves rose by $1.196 billion to touch $293.84 billion during the week ended April 5 on the back of increase in core currency assets,the RBI said

Published:April 13, 2013 2:29 am

Forex reserves up $1.196 billion to $293.84 billion

Mumbai: The foreign exchange reserves rose by $1.196 billion to touch $293.84 billion during the week ended April 5 on the back of increase in core currency assets,the RBI said on Friday. PTI

Bank credit grows 17% in 2012-13

NEW Delhi: Banks’ credit grew 17 per cent during the financial year while deposits grew 17.4 per cent,RBI data showed on Friday. Month-on-month,bank credit grew 5.3 per cent to Rs 53.95 lakh crore as on March 29,while deposits grew 5.7 per cent to Rs 69.36 lakh crore. FE

Sebi to bourses: make broker details current

Mumbai: With an aim to check any suspicious activities of brokers through front entities,market watchdog Sebi has asked the exchanges to maintain an up-to-date database of their trading members’ group and staff details. PTI

M&M to launch sub 4-metre sedan

NEW Delhi: Mahindra & Mahindra will launch its sub-four metre sedan Verito Vibe next month to take on the likes of Maruti Suzuki’s Dzire and Honda’s newly introduced model Amaze. PTI

Shareholders okay Suzlon’s CDR package

NEW Delhi: Clearing the decks for its debt recast,wind turbine major Suzlon Energy today said the company’s shareholders have approved the $1.8 billion corporate debt restructuring package. PTI

OIL to set up overseas arm for acquisitions

NEW Delhi: The board of Oil India has approved the setting up of an overseas arm to acquire oil and gas properties abroad. OIL board in its meeting on April 10 approved “incorporation of a wholly owned subsidiary,” director (Finance) TK Ananth Kumar said. PTI

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