Forex reserves rise to $119.64 billion
Mumbai: India's foreign exchange reserves rose to $119.64 billion on October 15 from $119.30 billion a week earlier, the Reserve Bank of India said in its weekly statistical supplement on Saturday.

The central bank said foreign currency assets expressed in US dollar terms included the effect of appreciation or depreciation of other currencies held in its reserves such as the euro, pound sterling and yen.

The reserves include India's Reserve Tranche Position (RTP) in the International Monetary Fund, it said.
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RBI to prepare ground for upward interest rate bias
Mumbai: The rising oil prices and high inflation rate may influence the Reserve Bank of India to clear the deck for an upward interest rate bias in the mid-term review of annual policy statement for the year 2004-05 to be announced on October 26.

According to analysts the rising oil prices in the international market may influence RBI Governor Dr Y V Reddy to place all the indicators in the mid-term review to mentally prepare the country to break the trend of soft interest rate regime continuing for the past four years.
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Vijaya Bank Q2 net at Rs168.98 crore
Bangalore: Public sector Vijaya Bank has earned a net profit of Rs168.98 crore, while the bank's operating profit, excluding treasury profit, has gone up by 54.87 per cent during second quarter ending September 30-2004.

The bank has made a provision for diminution in investments to the extent of Rs197.84 crore during the half year ended September 30, according to a release.
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