Rupee at 20-month high
Mumbai, May 8:Continuing its rally for the fourth day, the rupee today closed at a new 20-month high of Rs 47.2450/2500 per dollar. The rally was fuelled by sustained healthy trade and corporate inflows. This was despite consistent dollar buying intervention by the Reserve Bank of India. Unabated dollar inflows from exporters, foreign funds and expatriates pushed up the rupee by a paise from Wednesday’s close of Rs 47.2550/2600.
Mumbai, May 8:The Securities and Exchange Board of India (Sebi) may soon launch a full-fledged investigation into the alleged violation of mutual funds regulations by JM Mutual Fund while dealing in government securities.
New Delhi, May 8:Expressing concern over the rise in inflation rate, finance minister Jaswant Singh today said the macro economic situation remained “comfortable” in 2002-03. He added that the adverse impact of the Iraq war is likely to get “neutralised” further when the country gets a normal monsoon this year.
Calcutta, May 8:Uco Bank has set a target of achieving Rs 100,000 crore business in the next four years. The bank hopes to come out with a public issue in the next financial year.
New Delhi, May 8:Fiat India will export Palios to Bangladesh. It will showcase the Palio and Sienna at a motor show in Dhaka and later in Indonesia.