METAL CREDIT IS HERE: BANKS CAN LEND GOLD
Article Abstract:
The Reserve Bank of India (RBI) has permitted 12 nominated banks - 3 foreign and 9 Indian - to lend gold to exporters of jewellery. The loan to exporters will be for 120 days from the date of release of gold. The Reserve Bank of India has nominated 12 banks to buy gold from international markets. The value of gold and the rate of interest would be lesser than the pre- shipment credit rates for exporters. The exporters will also benefit by the gold price and currency risk covers. (rk/kvr)
Comment:
The Reserve Bank of India (RBI) has permitted 12 nominated banks - 3 foreign and 9 Indian - to lend gold to exporters of jewellery.
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1999
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CALL RATES STEADY AT 8%
Article Abstract:
The call rates remained steady at 8 percent on November 23, 1998, in the inter-bank money market. On November 22, 1998, the call rates opened at 8-8.25 percent and stayed close to the repo rate of 8 percent. The Reserve Bank of India's 8 percent fixed rate repos netted about Rs2,350 crore on November 23, 1998. This has increased the total RBI's repos to over Rs4,000 crore. (gs)
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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