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Business Briefs

Credit policy on Nov 3

Mumbai, Oct 10: The Reserve Bank of India will carry out a mid-term review of monetary and credit policy for 2003-04 on November 3. Rbi governor Y V Reddy will hold a meeting with chief executives of major scheduled commercial banks for the mid-term review. RBI will review the GDP and inflation outlook as the monsoon has been good and the agriculture sector is also looking up.

Industry show

New Delhi, Oct. 10: A poor performance in key sectors has dragged down the industrial growth to 5.2 per cent in August 2003 from 6.2 per cent in the year-ago period However, the cumulative growth in April-August this year showed a marginal improvement at 5.6 per cent compared with 5.2 per cent in the corresponding period in 2002.

FDI proposals

New Delhi, Oct. 10: The government today cleared 44 foreign direct investment proposals worth Rs 180 crore, recommended by the Foreign Investment Promotion Board.

CPT tender

Calcutta, Oct. 10: The Calcutta Port Trust (CPT) will issue a fresh and revised global tender worth Rs 350 crore for capital dredging near Balari. This is the sixth tender to be issued. The earlier five tenders had no takers.

UBI rates

Calcutta, Oct 10: United Bank of India (UBI) today said it had decided to bring down interest rates on domestic term deposits of various tenures by 25 to 50 basis points with effect from Saturday.


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