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RBI
raises ceiling on miscellaneous forex remittances
Mumbai: To make foreign exchange more easily available
to residents without documentation, the Reserve Bank of
India has on Tuesday revised the ceiling for miscellaneous
foreign exchange remittances from $500 to $5,000 with
immediate effect.
In a circular to authorised dealers
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Full
float only after fiscal deficit improves: Jaswant
New York: The Finance Minister, Mr Jaswant Singh,
has reiterated that full convertibility of the rupee would
have to wait till the Government's fiscal position registers
fundamental improvement and inflation is under full control.
Virtually echoing
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HUDCO
retail loan disbursements fall
New Delhi: The Housing and Urban Development Corporation
has seen a sharp decline in its retail home loans portfolio,
with disbursements touching just Rs 133 crore till date
in the current financial year as compared to Rs 973 crore
in 2002-03.
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Kotak
Mahindra Bank plans 18 branches this fiscal
Hyderabad: Kotak Mahindra Bank has strategically
positioned itself as a `wealth manager' and a `financial
advisor' for high networth individuals and families estimated
at about 7 million across the country.
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