Easier forex rules to stay
Mumbai, March 29: The Reserve Bank of India (RBI) has decided to continue with the relaxation in exchange control regulations on risk management and inter-bank dealings until further notice. These relaxations were announced on December 21, 2002, and were available till March 31, subject to a review. However, the apex bank has decided to continue with them until further notice.
Mumbai, March 29: The country’s foreign exchange reserves witnessed a drop of $ 97 million at $ 73,821 million during the week ended March 21. The foreign currency assets fell by $ 97 million to $ 70,092 million during the period under review.
Mumbai, March 29: Rallis India has received shareholders’ approval for the merger of its wholly-owned subsidiary, Siris India, with the company.
Calcutta, March 29: The Rs 450-crore South Asian Petrochem Ltd’s bottle grade pet resin plant at Haldia will start trial run from April 11. It will begin commercial production from May 14.