Business News – Newsletter for March 3, 2011

RBI Reference Rate for US $ and Euro

The Reserve Bank of India’s Reference Rate for the US dollar is ` 44.96 and the Reference Rate for Euro is ` 62.33 on March 3, 2011. The corresponding rates for the previous day (March 1, 2011) were ` 45.12 and ` 62.32 respectively. Based on the Reference Rate for US … Original source on Gaea Times at : RBI Reference Rate for US $ and Euro.

Liquidity Adjustment Facility : Auction Results

The results of the RBI Repo/Reverse Repo auctions held on March 3, 2011 are:

Amount (face value in ` crore)                            

Item

1 day Reverse Repo Auction
(Sale of securities by RBI)

1 day Repo Auction 
… Read the original article on Gaea Times at : Liquidity Adjustment Facility : Auction Results.

Money Market Operations as on March 01, 2011

…. Original article on Gaea Times at  : Money Market Operations as on March 01, 2011.

Sensex surges 623 points on budget proposals (Second Lead)

MUMBAI – A benchmark index for Indian equities markets surged 623 points Tuesday, a day after the presentation of the federal budget, as investor sentiment was particularly boosted by the steps to attract foreign investors, including overseas funds, to mutual funds.

The 30-share sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened in …. Read the original article  : Sensex surges 623 points on budget proposals (Second Lead).

Rs.40,000 crore disinvestment target will be met: Patel

NEW DELHI – Despite missing the current financial year’s target, the government is confident of raising Rs.40,000 crore ($9 billion) through the sale of stakes in state-run firms, Heavy Industries and Public Sector Enterprises Minister Praful Patel said Tuesday.

The finance minister has announced that Rs.40,000 crore is to be raised through disinvestment, and I … Original article on : Rs.40,000 crore disinvestment target will be met: Patel.

Shri R. Gandhi takes charge as New ED at RBI

Shri R. Gandhi, assumed charge as Executive Director of the Reserve Bank of India today. As Executive Director, Shri Gandhi will look after Department of Banking Operations and Development, Department of Administration and Personnel Management (including Rajbhasha), Human Resources Development Department and Department of Information Technology.

Prior to his appointment …. Original source  : Shri R. Gandhi takes charge as New ED at RBI.

Super senior citizens hail income tax sops

NEW DELHI – A day after the federal budget, senior citizens practising laughter therapy at the Nehru Park in the capital’s diplomatic enclave had real reasons to laugh – at the welcome income tax sops given them.

Finance Minister Pranab Mukherjee in his budget speech Monday proposed a special category of very senior citizens of … Read more »»».