bank credit level goes up
mumbai: outstanding bank credit has grown by rs 3,344 crore during the fortnight ended 16 july, according to the weekly statistical supplement of the reserve bank of india (rbi).

the rbi report said the growth in credit for the current financial year has taken place between 25 june and 16 july and that the growth during the current financial year touched rs 6,711 crore.

the outstanding bank credit has been pegged at rs 3,72,715 crore as on 16 july. bank deposits have risen by rs 24, 716 crore or 3.5 per cent to rs 7,33,808 crore as on this date.

foreign currency assets accounted for 30.59 billion while gold accounted for $2.70 billion and special drawing rights $8 million.

only few banks to attain y2k compliance
mumbai: only a few banks are yet to achieve y2k compliance, the high-level working group under the chairmanship of s.p. talwar, deputy governor of the reserve bank of india, has said.