Mumbai, Feb. 2: Indias foreign exchange reserves increased by over $3 billion for the second consecutive week ended January 25. The forex reserves increased by $3.41 billion to $288.31 billion during the week. Foreign currency assets during the period were up $3.41 billion at $279.54 billion against $276.13 billion in the week-ago period.
New Delhi, Feb. 2: Hudco has cut floating interest rates on advances made to the government by 25 basis points. The reduction is likely to give the state governments and their agencies access to cheaper resources for housing activities.
Tehran, Feb. 2: Iran said the petroleum ministers of India and Pakistan would come to Tehran later this month to discuss a multi-billion-dollar project to transport Iranian gas to India via Pakistan.