Zuari cash chase

NEW DELHI: Zuari Agro Chemicals on Saturday said its shareholders had approved the proposal to raise up to Rs 400 crore by issuing securities in one or more tranches. Meanwhile, Essar Shipping on Saturday said its shareholders approved the proposal to increase authorised share capital to Rs 650 crore from Rs 500 crore at the annual general meeting held on Friday. PTI

PNB move

• NEW DELHI: Public sector Punjab National Bank on Saturday announced raising interest rates by up to 1.25 per cent on domestic term deposits of up to Rs 10 crore for different tenures, effective January 1, 2018. For domestic retail term deposits of less than Rs 1 crore, the rate has been increased 1.25 per cent to 5.25 per cent from 4 per cent in the maturity tenure of 7 to 29 days. PTI

Forex reserves

• MUMBAI: The country's foreign exchange reserves surged $3.53 billion to touch a lifetime high of $404.92 billion in the week to December 22, aided by an increase in foreign currency assets. In the previous week, foreign exchange reserves had risen $488.2 million to $401.385 billion. PTI