ONGC payout at 250%

New Delhi, Dec. 23: The ONGC board today cleared an interim dividend of 250 per cent (Rs 25 per share) for this fiscal. In absolute terms, this interim dividend works out to a payout of Rs 3564.82 crore against a paid-up capital of Rs 1425.93 crore, including government shares (74.13 per cent) of Rs 2642.60 crore.

Forex reserves

Mumbai, Dec. 23: India's forex reserves increased by $1,057 million to $145 billion during the week ended December 16 against $143.943 billion in the preceding week. Foreign currency assets rose by $1,042 million to $138.816 billion, according to figures released by the Reserve Bank.

RBI note

Mumbai, Dec. 23: The RBI today asked banks to treat customers' request to withdraw from electronic clearing systems (ECS) in a user-friendly manner. 'Several instances have been brought to our notice where bank branches are showing reluctance in accepting customers' request to withdraw the ECS mandate given earlier to the user institution and the bank,' the RBI said.

Unilever deal

London, Dec. 23: Unilever Plc has signed an outsourcing contract with IBM that will lead to several hundred job cuts. Unilever said cost savings under the 7-year outsourcing contract would contribute to a targeted $831.4 million.