Forex reserves at $35 billion
Mumbai: India's foreign exchange reserves have almost touched the $35 billion mark on 31 December 1999. At least $ two billion have come in in the last two months of the year, according to figures provided in the weekly statistical supplement of the Reserve Bank of India.

The report said the forex reserves including gold and SDRs went up by $96 million during the week ended 31 December to $34,935 million. Foreign currency assets are up by $195 million during the week. The supplement also said the year-on-year growth in reserve money has been kept at Rs 2,64,011 crore.

Withdrawal under the ways and means advances account has gone up by Rs 491 crore to Rs 4,827 crore during the week ended 24 December.
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RBI fixes cut-off price for 2014 security
Mumbai: The Reserve Bank of India has fixed a cut off price of Rs 102.18 for the Rs 5,000-crore auction of the 14-year, 11.83 per cent 2014 security. The auction was oversubscribed by 122 per cent. The yield at the cut-off price has been worked out at 11.52 per cent, which is in line with the expectation in the market. RBI said 129 bids out of 386 bids received have been accepted for the notified amount at the cut off price.
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Goldman, Kyocera set up venture fund
Tokyo: Japanese electronics company Kyocera Corporation and US investment firm Goldman Sachs are creating a fund to invest in high-tech startup ventures. The 30 billion yen ($285 million) fund will be formed after Kyocera brings in 10 billion yen and Goldman 20 billion yen. Goldman said it will be the first venture capital fund it has ever participated during its entire 130-year history.
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