RIB PROCEEDS OUTSIDE US TOUCH $2.4 BN
Article Abstract:
The Resurgent India Bonds issued by the State Bank of India have mobilised $2.45 billion as on August 18, 1998 excluding collections from the US. The bank expects to raise funds at the rate of about $200 million per day. This will take the total collections to about $3.5 billion by the time the issue closes on August 24, 1998. The issue is expected to bring in over Rs15,000 crore and if the bank retains 30 percent overseas, the money markets can expect to see an inflow of Rs10,500 crore. (khr)
Comment:
Mobilizes $2.45 bil excluding collections from US from issue of resurgent India Bonds
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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CALL RATES PERK UP
Article Abstract:
On March 5, 1999, the call rates which opened between 8.15 percent to 8.25 percent closed at 8.30 percent. During the day, call rates touched a level of 8.75 percent. However, most of the transactions were maintained in the region 8.20 percent to 8.25 percent. According to dealers the market faced a liquidity shortage with non intervention of State Bank of India. SBI entered the market subsequently to lend in the wake of heavy demand. (gs)(m)
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1999
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