Forex kitty

Mumbai, June 9: The foreign exchange reserves of the country plummeted over $2.40 billion to $285.86 billion for the week ended June 1, the RBI has said in its weekly statistical supplement. The reserves stood at $288.26 billion during the previous week. It was for the fourth consecutive week that the reserves went down.

Plan approval

Mumbai, June 9: Planning Commission deputy chairman Montek Singh Ahluwalia said he expected the National Development Council’s approval to the 12th Plan by September. “I am sure of getting the NDC approval for the 12th Plan by September, and if that happens, it will be a full three months’ gain, if we compare this with the 10th and 11th Plans,” he said.

NHB move

Mumbai, June 9: Housing finance regulator National Housing Bank (NHB) will raise Rs 120 crore of paid-up capital in the next two weeks to float its mortgage guarantee company, NHB chairman and managing director R.V. Verma said.