The Telegraph
Since 1st March, 1999
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Business Briefs

UTI Bank private placement

Mumbai, Dec. 21: UTI Bank has alloted unsecured redeemable non-convertible debentures of Rs 93.1 crore including a green shoe option of Rs 43.1 crore on private placement basis as Tier-II capital. The debentures were issued for a period of 69 or 93 or 117 months and at a coupon rate of 8.4 or 8.7 or 8.95 per cent per annum respectively, the bank informed the Bombay Stock Exchange.

Polaris crisis

New Delhi, Dec. 21: Polaris chief Arun Jain and his colleague Rajiv Malhotra who were released by Indonesian police yesterday may get back their passports and other related documents on Monday, paving the way for their return to India on Monday night.

Biyani remand

Calcutta, Dec. 21: A Calcutta court today extended to December 23 the judicial custody of stock broker Harish Chandra Biyani and five others held in connection with the Rs 120-crore Calcutta Stock Exchange scam.

Forex reserves

Mumbai, Dec. 21: India's foreign exchange reserves surged ahead and crossed $ 68 billion due to inflows of continuous export remittances and revaluation of euro vis-a-vis the dollar. During the weeking ended December 13, inflows of $ 682 million led to foreign exchange reserves to touch a record high of $ 68,435 million, the Reserve Bank weekly statistical supplement said.

SCOPE panel

Calcutta, Dec. 21: The Standing Conference of Public Enterprises (SCOPE) will form a management consultancy panel to offer consultancy services to ailing public sector companies to improve their performance.

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