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Mumbai -- Foreign Currency Assets (FCA) with the Reserve Bank of India (RBI) fell further by $ 137 million to $ 23,742 million during the we...

Mumbai — Foreign Currency Assets (FCA) with the Reserve Bank of India (RBI) fell further by $ 137 million to $ 23,742 million during the week ending December 27, 1997. The foreign exchange reserve of the apex bank fell by $ 22 million to $ 27,373 million.

There was a marginal fall in the forex reserves despite lowering of FCA during the week as the SDRs (special drawing rights) increased by 115 million. According to the weekly statistical supplement of the RBI, non-food credit from the banks increased by 5,324 crore from March 31 level and the outstanding figure as on December 5 was Rs 2,76,128 crore. Food credit also increased by Rs 4,249 crore.

Fall in silver prices, gold steady

Mumbai — Silver pices declined further and gold was steady on the BULLION market on Monday. Ready silver of .999 fineness at Rs 8390, raw silver of .916 at Rs 8290 and tenderable silver at Rs 8395 fell further by Rs 30 each from the last close of Rs 8420, Rs 8320 and Rs 8425 respectively. Standard gold, after a higher start, eased moderately on lack of support and finished unchanged from the last level of Rs 4040. 22-carat gold was at Rs 3740 while 10-tola gold bar of .999 purity remained steady at Rs 47,300.

Arvind Doshi honoured

Mumbai — Arvind Doshi, President and Managing Director of Premier Automobiles Ltd (PAL) and currently the President of the Employers’ Federation of India has been awarded Dadabhai Naoroji International Award for Excellence and Achievement’ by the National Committee for Dr Dadabhi Naoroji Parliamentry Century Celebrations, Delhi. The awards are given to renowned persons in different Industry, Eduction, Armed Forces, Social Welfare, Foreign Affairs and Parliamentary skills for their transparency of character.