Forex kitty

Mumbai, July 5: The country’s forex reserves fell $691 million for the week ended June 27 to $311.79 billion against $312.48 billion in the last week. Reserves had jumped $1.79 billion to $312.48 billion in the previous week. Foreign currency assets fell $694 million during the week to $302.05 billion from $302.74 billion in the previous week, Reserve Bank said in its weekly report here today.

OVL bid

New Delhi/Madrid, July 5: ongc Videsh Ltd (OVL), the overseas arm of state-run ONGC, has been shortlisted to qualify as an operator for the deep water blocks of Angola. Petroleum minister Murli Deora also proposed ovl and Angola’s National Oil Company should form a joint venture to take part in the next round of offer on exploration blocks in that country.

Indusind rate

Mumbai, July 5: Private sector Indusind Bank has announced a 10 per cent rate of interest of per annum for a period of 400 days on domestic term deposits. This has come into effect from July 3.