The Telegraph
Since 1st March, 1999
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Business Briefs

Forex kitty crosses $ 80 bn

Mumbai, May 31: India’s foreign exchange reserves continued to scale new heights and crossed the $ 80 billion mark following inflows of $ 1,591 million during the week ended May 23. Foreign exchange reserves rose by $ 1,591 million to touch $ 80,816 million in the reporting week, according to the Reserve Bank's weekly statistical supplement released here today.

SBI project

Mumbai, May 31: The State Bank of India (SBI) has completed the project of networking 1600 ATMs of the group comprising itself and seven associates. The facility, operative from June 1, will bring added convenience to the customers of the entire State Bank group, as they can now make transactions at any ATM of the State Bank and its associate banks.

LIC Mutual

Mumbai, May 31: LIC Mutual Fund has launched two schemes, LICMF short-term plan and LICMF monthly income plan. The short-term plan, which opened on May 29, is an open-ended income scheme and would invest in short-term debt securities. The monthly income plan would invest in debt and money market instruments.

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