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Banks
shelve fresh exposure in Debt MFs
Mumbai: Banks have put on hold fresh investments
in mutual funds (MFs), given the silence of the Reserve
Bank of India (RBI) on the issue of whether or not bank
investments in MF units come under the non-SLR (statutory
liquidity ratio) category of unlisted securities. The
ambiguity persists even after RBI on Tuesday extended
the time-frame for adhering to the cap on privately placed
non-SLR unlisted securities to April 1, 2004.
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Hudco
cuts interest rates
Thiruvananthapuram: The Housing and Urban Development
Corporation (Hudco) has announced an overall reduction
in the rate of interest for its project financing and
individual housing finance window, the Hudco Niwas.
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