20 february 2000

forex reserves cross $35-billion mark
mumbai: india’s foreign exchange reserves have crossed the $35-billion mark. the country’s forex reserves rose $91 million to $35.072 billion in the week ended 11 february 2000 from $34.981 billion in the previous week, according to the reserve bank of india’s weekly statistical supplement.

money supply up 16%
mumbai: according to the reserve bank of india’s weekly statistical supplement, currency with the public declined to rs 1,89,648 crore on 28 january, down rs 3,840 crore from the previous fortnight. demand deposits rose rs 2,992 crore to rs 1,38,111 crore.
overall money supply aggregated rs 10,88,700 crore as on 28 january, which was up 15.9 per cent on a year on year basis.

stanchart cuts interest rates on car loans
mumbai: standard chartered bank has reduced interest rates on its car loans. it has reduced rates in the economy segment (cars such as maruti 800 and omni) from 17 per cent to 16 per cent. in the mid- segment (zen, santro, etc.) it has reduced the rate from 16.5 per cent to 15.5 per cent. in the premium segment (honda, lancer, etc.) it has reduced rates from 16.5 per cent to 15 per cent.

the bank has offered a further reduction of 0.25 per cent for standard chartered credit card holders and account holders with the bank.

icici bank plans nyse listing
new delhi: icici subsidiary icici bank is planning to list itself on the new york stock exchange through a $125-million issue of american depository receipts. its parent icici had recently got an nyse listing.

the bank has filed its papers for the offering with the securities and exchange commission.