Mumbai, Nov 20 (IANS) India's foreign exchange reserves fell by $326 million to $314.34 billion for the week ended Nov 11, declining sharply for the second straight week due to a slump in the value of foreign currency assets, official data showed.
The forex reserve kitty had slumped by $5.72 billion in the previous reporting week.
However, in rupee terms, the total value of India's foreign exchange reserves registered a gain of Rs.32,895 crore to Rs.15,76,706 crore during the week under review mainly because of depreciation of Indian currency against the US dollar.
Last week, rupee dropped to Rs.51.30 against a dollar, the lowest in 32 months, due to increased demand for the greenback from exporters, continued concern over inflationary pressure and a slump in stock markets.
Foreign currency assets, the biggest component of the forex reserves kitty, dropped by $288 million to $280.29 billion for the week ended Nov 11, according to the weekly statistical supplement of the Reserve Bank of India (RBI).
The RBI does not provide any reason for the change in the foreign currency assets. It says the assets expressed in US dollar terms include the effect of appreciation or depreciation of non-US currencies such as the pound sterling, euro and yen held in reserve.
India's reserves with the International Monetary Fund (IMF) fell by $14 million to $2.62 billion and the value of special drawing rights (SDRs) declined by $24 million to $4.53 billion.
However, the value of gold reserves remained unchanged at $26.89 billion after dropping by $1.77 billion in the previous week.
2011/11/13 18:07:07 Mumbai, Nov 13 (IANS) India's foreign exchange reserves dropped by $5.72 billion to $314.66 billion for the week ended Nov 4 due to decline in the value of gold reserves and foreign currency assets, official data showed.
The forex reserves kitty has declined for the first time in the last five weeks under review.
Foreign currency assets, the biggest component of the forex reserves kitty, declined by $3.87 billion to $280.57 billion for the week ended Nov 4, according to the weekly statistical supplement of the Reserve Bank of India (RBI).
The RBI does not provide any reason for the change in the foreign currency assets. It says the assets expressed in US dollar terms include the effect of appreciation or depreciation of non-US currencies such as the pound sterling, euro and yen held in the reserves.
The value of gold reserves slumped by $1.77 billion to $26.89 billion.
All the components of the forex reserves kitty registered decline during the week under review.
India's reserves with the International Monetary Fund (IMF) fell by $32 million to $2.64 billion and the value of special drawing rights (SDRs) declined by $54 million to $4.55 billion.
2011/10/29 6:36:38 Mumbai, Oct 29 (IANS) India's foreign exchange reserves rose by $858 million to $318.36 billion for the week ended Oct 21, rising sharply for the third straight week, on the back of huge gain in the value of foreign currency assets, official data showed.
The forex reserves had surged by $5.27 billion in previous week. The forex reserves kitty has registered a gain of $6.87 billion in the last three weeks under review.
Foreign currency assets, the biggest component of the forex reserves kitty, rose by $861 million to $282.51 billion during the week ended Oct 21, according to the weekly statistical supplement of the Reserve Bank of India (RBI).
The foreign currency assets had shot up by $5.19 billion in the week before that.
The RBI does not provide any reason for the change in the foreign currency assets. It says the assets expressed in US dollar terms include the effect of appreciation or depreciation of non-US currencies such as the pound sterling, euro and yen held in the reserves.
Analysts said one of the major reasons behind the sharp increase in the value of foreign currency assets in the recent weeks was the strengthening of euro against the US dollar.
However, India's reserves with the International Monetary Fund (IMF) declined by $1 million to $2.63 billion and the value of special drawing rights (SDRs) dropped by $2 million to $4.54 billion during the week under review.
The value of gold reserves remained unchanged at $28.66 billion.
2011/9/2 10:06:13 ndia's foreign exchange (forex) reserves soared by $955 million to hit an all-time high of $319.17 billion for the week ended Aug 26 due to a sharp jump in the value of foreign currency assets, official data showed Friday.
Forex kitty soared to $319.17 billion during the week under review surpassing the previous all-time high record of $319.08 billion registered during the week ended July 29.
The forex reserves have soared for the second consecutive week. They had risen by $1.61 billion in the previous week.
Foreign currency assets, the biggest component of the forex reserves kitty, rose by $944 million to $286.19 billion during the week under review, according to the weekly statistical supplement of the Reserve Bank of India.
The foreign currency assets expressed in US dollar terms include the effect of appreciation or depreciation of non-US currencies such as the pound sterling, euro and yen held in reserve.
The value of special drawing rights (SDRs) rose by $7 million to $4.64 billion and reserves with the International Monetary Fund increased by $4 million to $2.99 billion.
However, the value of gold reserves remained unchanged at $25.35 billion. (IANS)
Gold price pushes India's forex kitty to $320.78 bn high
2011/9/10 5:11:42 Mumbai, Sep 10 (IANS) India's foreign exchange (forex) reserves rose by $1.61 billion to hit an all-time high of $320.78 billion for the week ended Sep 2 on the back of nearly $3 billion jump in the value of gold reserves, official data showed.
The forex reserves kitty has risen for the third consecutive week. The reserves had increased by $955 million in the previous week.
The value of gold reserves soared by $2.97 billion to $28.32 billion, according to the weekly statistical supplement of the Reserve Bank of India (RBI).
Gold prices have risen sharply in recent month, leading to a sharp jump in the value of gold reserves. Gold price surged to an all-time high of $1,921.15 an ounce early this week.
The increase is also an indication that the RBI has increased gold holding to hedge against the currency risk in view of the volatility in global economy and fragile nature of the major currencies, especially US dollar and euro.
However, all other components of the forex reserves kitty declined during the week under review.
Foreign currency assets, the biggest component of the forex reserves kitty, declined by $1.32 billion to $284.87 billion during the week ended Sep 2. The foreign currency assets rose by $944 million in the previous week.
The foreign currency assets expressed in US dollar terms include the effect of appreciation or depreciation of non-US currencies such as the pound sterling, euro and yen held in reserve.
The value of special drawing rights (SDRs) declined by $24 million to $4.61 billion and reserves with the International Monetary Fund (IMF) fell by $16 million to $2.97 billion.
2011/7/1 8:08:47 Pointing out that some a seemingly foreign financial institution by the name of Forex Achievements is misleading the general public by claiming that it is registered with the Reserve Bank of India, the RBI on Friday issued a warning to the general public against depositing their money with unincorporated financial bodies.
In a statement, the RBI said that it has come to its notice that some entity, which seems to be a foreign one, is operating in India and carrying out business, including acceptance of deposits, without obtaining a Certificate of Registration (CoR) from RBI.
The company is misusing the name of RBI by displaying a fake CoR on its web site for collection deposits from the public.
The RBI said that it would like to clarify to the general public that no company / entity by the name, Forex Achievements is registered as a company under the Companies Act, 1956 which is a prerequisite for obtaining CoR from the Bank.
The CoR bearing Reg No. 07.00410 dated April 07, 2010 displayed by the entity on its web site is a fabricated one and not issued by RBI to it.
The RBI cautioned the general public not to deposit money with such unincorporated bodies. Persons depositing money with such unincorporated bodies would be doing so at their own risk.
The RBI further added that Under Section 45 – S (1) of the Reserve Bank of India Act, 1934, unincorporated bodies that are carrying on the business of a financial institution or whose principal business is that of receiving deposits are prohibited from accepting deposits from the public and the State Governments are empowered to take action against such entities under Section 45T (1) of the RBI Act 1934.
Money circulation schemes are also banned under the Prize Chit and Money Circulation (Banning) Act 1978 and are governed by the respective State Governments. Hence all complaints on unauthorised acceptance of deposits and running of money circulation schemes, when received by the Reserve Bank are immediately referred to the Economic Offences Wing of the concerned State Governments.
The RBI further warned the public to be cautious in making investments with such entities.
Before making investments, the investors were advised in their own interest to visit the website of the Reserve Bank of India to check whether the companies they are placing deposits with are registered with Reserve Bank and entitled to hold deposits.
The names of such companies are available on RBI’s web site at www.rbi.org.in--sitemap-->NBFC List.(INN)
2011/8/1 11:32:20 The Haj committee of India on Monday announced the amounts the selected Hajis will have to pay as the second and final instalment of money for Foreign Exchange.
According to State Haj Committee Chairman Syed Khaleeluddin Ahmed, the selected Haj pilgrims from Andhra Pradesh will have to remit an amount of Rs 89,536 under Green category, Rs 79,782 for the White category and Azeezia category pilgrims should pay Rs 72,709.
Mr Khaleeluddin Ahmed requested the pilgrims to remit the amount before September 3 in SBI in the A/c of Haj Committee of India through pay-in slip duly entering their bank reference number.
However the Green category pilgrims embarking on the pilgrimage from Bangalore should pay Rs 89,243, and pilgrims under White category have to remit Rs 79,489. The Azeezia category pilgrims will have to pay Rs 72,416.
The pilgrims opting for accommodation in Hyderabad Rubath in Makkah will have to pay Rs 39,543 only.
Meanwhile 593 pilgrims under Green category have been allotted to Azeezia category by the Haj committee of India and all such pilgrims have been duly intimidated through SMS.
The Haj Committee Chairman also requested such pilgrims to pay the second instalment as per the new category.(INN)
2011/8/9 6:59:07 The Centre on Tuesday revealed that “in-principle” approval has been accorded by the National Tiger Conservation Authority for creation of the Kawal Sanctuary in Andhra Pradesh, besides five other new tiger reserves.
In a written reply to a question by Rajya Sabha Member Kanwar Deep Singh, Minister of State for Environment and Forests (Independent Charge) Jayanthi Natarajan said that besides the Kawal Sanctuary in the state, Pilibhit in Uttar Pradesh, Ratapani in Madhya Pradesh, Sunabeda in Orissa, the Mukandara Hills (including Darrah, Jawahar Sagar and Chambal Wildlife Sanctuaries) in Rajasthan, and Kudremukh in Karnataka have also got ‘in-principle’ approval.
Apart from these, Bor in Maharashtra, Suhelwa in Uttar Pradesh, Nagzira-Navegaon in Maharashtra, Satyamangalam in Tamil Nadu, Guru Ghasidas National Park in Chhattisgarh, and Mhadei Sanctuary in Goa have been advised to send proposals for getting declared as Tiger Reserves.
Under section 38V of the Wildlife (Protection) Act, 1972, state governments are authorised to notify an area as a tiger reserve on recommendation of the National Tiger Conservation Authority. (INN)
2011/9/20 2:52:41 The prices of wheat, rice, chicken and garlic are lower in Pakistan than in India, Bangladesh and Sri Lanka, authorities said.
The National Price Monitoring Committee said food prices in Pakistan were comparatively lower than other countries in the region, reported Dawn.
The panel has not ruled out the possibility of importing items of daily use from neighbouring countries due to the extensive damage to crops in rain- and flood-affected areas of Sindh province where over six million acres of land has been inundated and seven million people have been impacted.
After an official said sugarcane crops in Sindh had been damaged, the committee called for a decision to import sugar for strategic reserves.
The committee noted that prices of wheat, flour, rice, gram, mutton, beef, chicken, onion and garlic in Pakistan were lower than India, Bangladesh, Sri Lanka and Afghanistan. (IANS)
The ‘T’ MPs of the congress have managed to enact a drama and it has been successfully concluded. The state government has agreed in principle to drop all cases against the students who have been booked under various cases during the ‘T agitation.
A totoal of 1667 cases have been slapped against 8047 students. The state government has dropped cases 565 cases the other day. Yesterday 135 more cases were dropped. The state government will now drop all the cases after obtaining legal opinion from the court. .
Sorry! you are not allowed to withdraw Attempt to Rape case
2008/1/31 7:39:05
Vindhaya who is now aged 27 claimed in 2003 that, a film producer and financier from Hosur, Vijay Kamalraj attempted to rape her, when she was staying in Hotel Sivarajani, Hosur.
She also blamed the hotel management for not supporting her when she cried for help, as they remained just spectators.
She blamed the Hosur police for not accepting her complaint and took no action against Kamal. It was told by that time that Kamal used to visit her in private many times, but this time he took several men with him and hence the trouble. It is believed that he paid her about Rs 700,000 to settle this issue.
Vindhya, yesterday told the Chennai High Court that as she want to go on compromise with Kamal, she wanted to drop the case.
But the government advocate contended that already supreme court has instructed all the lower courts not to drop rape cases, so even high court does not have power to drop the same.
Already Hosur court said Vindhya "Sorry! you are not allowed to withdraw Attempt to Rape case"
2011/6/14 11:45:28 Tamilnadu Chief Minister Kum Jaya Lalitha had a meeting with Prime Minister Dr.Manmohan Singh on Tuesday and submitted a memorandum to him requesting him to allocate 1000 MW of power to the state from Central Grid. Later, they have discussed about several issues of common interest. She urged the Prime Minister to drop the Union Minister Dayanidhi Maran (DMK Party member) from his Cabinet for misusing his powers as former Telecom Minister.
Later, speaking to media she said “I have asked the PM to drop the corrupted Minister from his cabinet. I hope he will take right decision. I also demand Mr. Dayanidhi Maran to resign to his post and face the trial.
Selectors drop Yuvraj, call-up Rohit for third Test
2011/11/18 11:00:49 Kolkata, Nov 17 (IANS) India's captain Mahendra Singh Dhoni's faith in Yuvraj Singh failed to convince the selectors, who replaced the out-of-form left-handed batsman with Rohit Sharma in the 15-member squad for the third cricket Test against the West Indies in Mumbai from Nov 22.
The selector's decision to drop Yuvraj came minutes after Dhoni backed the flamboyant batsman to find his form in Test cricket. The rest of the squad was unchanged.
Yuvraj has not been among the runs in the ongoing series against the West Indies and his customary weaknesses against the short ball showed as he got hit by a Fidel Edwards delivery in the first innings of the Kolkata Test at the Eden Gardens here.
Rohit has performed consistently in the domestic circuit and scored 175 and 100 in Mumbai's first two games of the ongoing Ranji Trophy season against Railways and Rajasthan.
"Yes, he (Yuvraj) is going through a tough phase but it's important to show confidence in him. We all know he is talented. He has played really well against all the big bowlers especially in the ODI format which means he has talent to do well in Test formats as well," said Dhoni.
The Indian captain said it becomes very difficult for a player like Yuvraj to back himself being in and out of the side.
"It's very difficult to back yourself. You have that bit of tentativeness. It's a bit tough on him. But hopefully he will recover and do well for India," he said.
There is utter confusion over the heroine of Krishna Vamsi's film 'Chandamama'. Navadeep and Shiva Balaji are the heroes and the film got underway some time back. Madhu Shalini and Andraitha were the heroines but after shooting for some time Krishna Vamsi decided to drop them from his film.
It is said that they did not perform up to his expectations and there was no alternative but to drop them. It was then said that Sindhu Tolani would star in the film. However, it now comes to light that it is not Sindhu Tolani but another Sindhu i.e. Sindhu Menon who will act in the film.
Sindhu Menon who was born and brought up in Bangalore has experience in working for Malayalam films as well as TV channels. So another new face is getting ready to make her debut in Tollywood.
2011/11/14 17:24:36 Mumbai, Nov 14 (IANS) JSW Steel Monday reported consolidated net loss of Rs.669.32 crore for the quarter ended Sep 30 on account of foreign exchange loss.
The company had posted a net profit of Rs.373.26 crore during the same period of the previous fiscal, the company said in a regulatory filing.
The total income stood at Rs.8,144.26 crore during the quarter under review as against Rs.5,972.20 crore during the same period of the previous fiscal.
The net loss incurred by JSW Ispat during the quarter stood at Rs.345.30 crore, including an exceptional forex translation loss of Rs.95.23 crore.
At the Bombay Stock Exchange, the shares of the company closed 2.34 percent lower at Rs.656.85.
The health condition of Sathya Sai Ba Baba is critical but his exact condition still remains a mystery. Sathya Sai Baba is now lying helpless on the hospital bed and the trust board members are fighting among themselves for a share in the huge properties in the name of the trust.
According to inside sources, the Sathya Sai Baba trust has assets worth 25-30 lakh crore. Of this 1.5 lakh crore is in the form of cash reserves.
2011/10/26 6:50:33 Dubai, Oct 26 (IANS) World champions India climbed to the third position in the International Cricket Council (ICC) ODI rankings with a 5-0 win over England.
South Africa can leapfrog Sri Lanka and India into second position if it beats Australia in Durban Friday. Zimbabwe earned three ratings points for a historic victory against New Zealand in third ODI.
A clinical India has moved into third position in the ICC ODI Championship table after producing a world champion-like performance against England, which has helped it to wrap up the series 5-0.
Mahendra Singh Dhoni?s side started the series in fifth position on 112 ratings points. After winning all five ODIs, it has 118 ratings points.
In a sharp contrast, Alastair Cook?s side has slipped from fourth position to fifth after dropping from 112 ratings points to 106.
It now leads sixth-placed Pakistan by just five ratings points whose five-ODI series against Sri Lanka starts here from Nov 11.
However, India will slip to fourth if South Africa wins the third and last ODI against Australia in Durban Friday.
A South Africa win will put Hashim Amla?s side in second place on 120 ratings points, one ratings point ahead of India. In case of Australia?s victory, the Proteas will stay in fourth position but will drop to 115 ratings points.
Meanwhile, Zimbabwe?s historic victory over New Zealand in Bulawayo Tuesday has earned it three ratings points.
Zimbabwe, which successfully chased a 329-run target to win by one wicket, moved up to 47 ratings points.
On the contrary, New Zealand dropped three ratings points and are now on 87 ratings points - nine points ahead of the West Indies.
Rankings: 1. Australia 129 rating points 2. Sri Lanka 119 3. India 118 4. South Africa 117 5. England 106 6. Pakistan 101 7. New Zealand 87 8. West Indies 78 9. Bangladesh 63 10. Zimbabwe 47 11. Ireland 41 12. The Netherlands 15 13. Kenya 0
2011/6/16 5:29:37 The Union Cabinet Committee on Economic Affairs has approved the enhancement of cavern capacity, manner of utilization and revised cost estimates of Strategic Crude Oil Storage cavern at Visakhapatnam.
The CCEA also approved enhancement of the cavern capacity at Visakhapatnam from 1.0 Million Metric Tonne (MMT) to 1.33 MMT, sharing of 0.30 MMT additional capacity by Hindustan Petroleum Corporation Limited (HPCL) on proportional cost sharing basis and the revision of cost estimates from Rs 671.83 crore for 1.0 MMT to Rs 1038 crore for 1.33 MMT.
The enhanced storage capacity at Visakhapatnam will enable larger strategic storage of crude oil at a lower cost due to cost sharing while providing operating flexibility and cost savings to HPCL.
This underground storage depot, along with the ones in Managalore and Padur in Karnataka, will be able to store about 5.33 MT of crude oil. These storage facilities would meet about 14 days of India’s oil requirement. The Visakhapatnam storage caverns are expected to be completed by the year end.
The caverns are about ten storeys tall and extend to more than three kilometres.
The storage caverns will place the country among nations like the United States, Japan and China, the few countries which have strategic reserves.(INN)
2007/11/24 10:26:27 The cricket test between India and Pakistan is currently on. But the state BJP president Bandaru Dattatreya is slowly scoring runs at a steady pace. He is now entering the nervous nineties like our Sachin Tendulkar. The issue we are referring to is the letters written by Dattatreeya to the chief minister Y S Rajashekar Reddy.
Dattatreya has made it a habit to shoot of a letter to the CM at the drop of a hat. He writes about the various issues concerning the common man in his letters. He has so far written about 83 letters. He is expected to score a century by the end of this year. The surprising thing is that the CM has not bothered to reply to any of his letters so far but an undeterred Dattatreya is keen to score a century any way.
The country's largest car maker, Maruti Suzuki, Thursday reported a 12.7 percent drop in total sales during August because of labour unrest at its Manesar factory.
The company managed to sell a total of 91,442 vehicles in August, including 14,356 units for export. It had sold a total of 104,791 vehicles in the like month of 2010.
Maruti Suzuki's Manesar plant has been bogged down by labour issues since June this year. It had to face a production loss of around 12,600 cars, as 2,000 employees struck work for 13 days that month demanding recognition of a second union. The strike ended June 17.
However, in late August, the company again faced problems at the same facility.
"The disruption in production at the company's Manesar plant adversely impacted the sales numbers during the month (August). The Swift, SX4 and A-star are being manufactured at the Manesar plant," Maruti Suzuki said in its monthly statement.
Though the company did not report declines in sales of individual car models, the compact car segment -- which features models like Swift, Estilo and Ritz -- registered a 26.9 percent drop in sales at 16,043 units.
The mini segment, which has models like Alto, A-Star and Wagon R, also saw sales falling by 18.3 percent to 37,496 vehicles.
Exports by the company, however, rose 18.5 percent to 14,356 units in August.
Total sales during March-August, also showed an 8.3 percent drop to 448,268 units, with domestic sales declining 7.4 percent to 394,273 vehicles. Exports fell 14.7 percent to 53,995 units during this period. (IANS)
2006/11/15 7:50:18 Leading Bollywood actor Aishwarya Rai faces inquiry from the Customs department, which has stumbled upon a mysterious postal parcel addressed to her containing 65,000 euros (Rs.3.7 million) in cash.
"The package was sent to Aishwarya Rai a month back from the Netherlands. We have sent her a notice regarding the package seeking her clarification and we are waiting for her response," Commissioner of Customs (Imports) A.K. Prasad said.
"We are not disclosing the name of the consignee for sake of the investigation. The matter is being handled by the department's Special Investigation and Intelligence Branch (Imports)," Prasad told IANS Tuesday.
"We need to record Aishwarya's statement before we lodge any case in the connection," he added.
Prasad said the cash was detected during a routine check of parcels at Mumbai's foreign post office. The parcel bore the address of the actor's Bandra residence.
Aishwarya preferred not to comment on the matter. Efforts to contact her business manager-cum-spokesperson Hari Singh proved futile, too.
ndia's foreign exchange (forex) reserves soared by $955 million to hit an all-time high of $319.17 billion for the week ended Aug 26 due to a sharp jump in the value of foreign currency assets, official data showed Friday.
The prices of wheat, rice, chicken and garlic are lower in Pakistan than in India, Bangladesh and Sri Lanka, authorities said.
Tamilnadu Chief Minister Kum Jaya Lalitha had a meeting with Prime Minister Dr.Manmohan Singh on Tuesday and submitted a memorandum to him requesting him to allocate 1000 MW of power to the state from Central Grid. Later, they have discussed about several issues of common interest. She urged the Prime Minister to drop the Union Minister Dayanidhi Maran (DMK Party member) from his Cabinet for misusing his powers as former Telecom Minister. 
