Press Releases - आरबीआय - Reserve Bank of India

Purchases All Figures Are in USD Millions Merchant Interbank Position Date FCY/INR FCY/FCY FCY/INR FCY/FCY Spot Forward Forward Cancellation Spot Forward Forward Cancellation Spot Swap Forward Spot Swap Forward 23/02/98 242 116 90 21 14 18 659 1174 199 457 127 26 24/02/98 241 98 57 25 25 23 547 1043 177 503 196 22 26/02/98 303 66 44 29 34 34 583 1040 133 619 232 47 27/02/98 209 80 60 22 23 16 451 933 50 778 149 22 Sales 23/02/98 285 190 78 20 14 23 600 1115 197 463 13

Purchases All Figures Are in USD Millions Merchant Interbank Position Date FCY/INR FCY/FCY FCY/INR FCY/FCY Spot Forward Forward Cancellation Spot Forward Forward Cancellation Spot Swap Forward Spot Swap Forward 16/02/98 135 52 29 16 13 5 351 614 83 709 52 6 17/02/98 201 56 19 14 20 16 378 754 95 518 104 17 18/02/98 233 86 28 12 19 10 393 754 118 503 118 28 19/02/98 194 55 29 25 7 13 339 678 94 475 97 16 20/02/98 199 54 20 37 15 5 458 825 103 506 87 19 Sales 16/02/98 1

Purchases All Figures Are in USD Millions Merchant Interbank Position Date FCY/INR FCY/FCY FCY/INR FCY/FCY Spot Forward Forward Cancellation Spot Forward Forward Cancellation Spot Swap Forward Spot Swap Forward 09/02/98 232 82 20 15 30 18 490 1239 145 534 100 34 10/02/98 227 75 16 14 17 19 653 1103 84 735 113 21 11/02/98 223 55 24 21 20 24 607 794 104 844 153 16 12/02/98 191 60 21 28 22 15 326 732 141 617 105 82 13/02/98 212 58 33 24 18 18 410 851 113 528 82 83 Sales

Equity shares and convertible debentures of the undernoted companies can now be purchased under the portfolio investment scheme up to 30 per cent of their paid up equity capital subject to the prescribed conditions: Ranbaxy Laboratories Ltd. Capital Trust Ltd. The Credit Rating Information Services of India Ltd. Garware Polyester Ltd. Jyoti Structures Ltd. These companies have now passed the necessary resolutions as required in terms of the Government of India press r

Purchases All Figures Are in USD Millions Merchant Interbank Position Date FCY/INR FCY/FCY FCY/INR FCY/FCY Spot Forward Forward Cancellation Spot Forward Forward Cancellation Spot Swap Forward Spot Swap Forward 02/02/98 293 49 41 37 35 18 528 976 80 542 145 24 03/02/98 172 70 16 21 6 12 620 1187 167 581 116 23 04/02/98 171 74 16 22 16 11 692 1028 102 539 88 11 05/02/98 193 80 12 13 34 13 511 1060 84 846 228 25 06/02/98 178 80 37 22 9 11 516 869 105 598 79 30 Sales 02/

Infosys Technologies Ltd. The Reserve Bank of India has communicated that the holdings of foreign institutional investors (FIIs)/non-resident Indians (NRIs)/overseas corporate bodies (OCBs) in Infosys Technologies Ltd. has come down below 26 per cent. As such it would be in order for FIIs/NRIs/OCBs to make further purchases of the shares of Infosys Technologies Ltd. with prior approval of the Reserve Bank of India. Punjab Tractors Ltd. Similarly, the holdings of FIIs/

The Reserve Bank has issued a notification on February 10, 1998 operationalising the procedure for granting general permission to Indian companies to issue equity shares/securities to foreign investors in accordance with the approval for foreign direct investments (FDIs) granted by the Secretariat for Industrial Assistance (SIA) (Government of India, Ministry of Industry, Department of Industrial Policy & Promotion) or by the Foreign Investment Promotion Board (FI

The Reserve Bank of India has allowed purchase of shares of Bank of Baroda from the secondary market on behalf of foreign institutional investors (FIIs)/non-resident Indians (NRIs)/overseas corporate bodies (OCBs). The Reserve Bank stated that consequent upon the increase in the paid-up capital and sales of shares, the holdings of FIIs/NRIs/OCBs in Bank of Baroda have gone down below 16 per cent of its paid-up capital and therefore the requirement of obtaining the Res

Purchases All Figures Are in USD Millions Merchant Interbank Position Date FCY/INR FCY/FCY FCY/INR FCY/FCY Spot Forward Forward Cancellation Spot Forward Forward Cancellation Spot Swap Forward Spot Swap Forward 27/01/98 392 192 179 29 28 24 1343 1470 198 457 245 82 28/01/98 284 101 89 24 16 21 716 1274 196 529 434 30 29/01/98 231 83 118 19 19 23 546 885 167 499 503 31 Sales 27/01/98 382 198 244 29 25 26 1839 1591 167 446 247 82 28/01/98 330 190 142 25 16 22 692 1123 2

Purchases All Figures Are in USD Millions Merchant Interbank Position Date FCY/INR FCY/FCY FCY/INR FCY/FCY Spot Forward Forward Cancellation Spot Forward Forward Cancellation Spot Swap Forward Spot Swap Forward 19/01/98 252 172 72 13 19 17 810 933 289 313 59 10 20/01/98 191 95 41 15 14 6 751 805 80 396 125 8 21/01/98 202 72 46 2 14 16 633 946 89 365 97 6 22/01/98 189 120 30 4 23 20 510 970 157 415 110 13 23/01/98 175 106 60 16 20 17 656 1294 169 445 178 14 Sales 19/01

No further purchases of shares of Satyam Computer Services Limited should be made through stock exchanges in India on behalf of foreign institutional investors/NRIs/OCBs. The overall ceiling of 30 per cent of paid up equity capital permitted to be held by all registered foreign institutional investors together with purchases made by all NRIs and OCBs under the portfolio investment scheme has already reached in the case of this company. (Alpana Killawala) General Manag

Purchases All Figures Are in USD Millions Merchant Interbank Position Date FCY/INR FCY/FCY FCY/INR FCY/FCY Spot Forward Forward Cancellation Spot Forward Forward Cancellation Spot Swap Forward Spot Swap Forward 05/01/98 193 59 40 15 14 8 900 1013 78 362 114 15 06/01/98 227 72 26 7 33 7 835 1173 201 448 188 15 07/01/98 163 41 20 8 30 8 460 899 120 476 218 15 08/01/98 173 57 18 5 34 8 550 1074 155 407 163 23 09/01/98 191 91 12 7 16 16 581 953 107 386 87 9 Sales 05/01/98

The Reserve Bank of India has advised authorised dealers that it will be in order for them to release the quota of foreign exchange to students going abroad for studies in one or more instalments as may be required by the students/guardian concerned. The Reserve Bank has also advised the authorised dealers that it will be in order for them to release exchange for a longer period, i.e., beyond six months, in cases where the overseas university/educational institution i

No further purchases of equity shares of Bank of Baroda and LGP Brothers Ltd. should be made on bahalf of foreign institutional investors/NRIs/OCBs through stock exchange/s without obtaining the prior permission of the Reserve Bank of India. The aggregate net purchases of equity shares of Bank of Baroda and LGB Brothers Ltd. by FIIs in the primary/secondary markets together with purchases made by NRIs/OCBs under the portfolio investment scheme have reached the limits

The Reserve Bank of India has withdrawn the restrictions placed on the purchase of shares of the State Bank of India and the Housing Development Finance Corporation Ltd on behalf of FIIs/NRIs/OCBs. These shares can now be purchased with the prior approval of the Reserve Bank of India, through stock exchanges. The restrictions were placed in October 1996 and July 1997 respectively when the overall ceiling of 20 per cent (State Bank of India) and 30 per cent (Housing De

Purchases All Figures Are in USD Millions Merchant Interbank Position Date FCY/INR FCY/FCY FCY/INR FCY/FCY Spot Forward Forward Cancellation Spot Forward Forward Cancellation Spot Swap Forward Spot Swap Forward 29/12/97 251 59 46 8 17 20 536 1119 142 138 229 31 30/12/97 225 54 76 7 33 41 424 1124 159 100 333 25 31/12/97 191 43 33 9 5 1 399 379 112 69 82 17 01/01/98 74 17 2 0 0 0 134 392 59 2 1 0 02/01/98 163 94 12 4 19 22 526 952 124 343 230 33 Sales 29/12/97 337 197

Further to our press release dated January 8, 1998 advising our intention to issue general permission for foreign investment under "the Automatic Route of RBI", the Reserve Bank of India has issued Notification No.FERA 180/98 RB dated January 13, 1998 under Sections 19(1) and 29(1) of the Foreign Exchange Regulation Act, 1973. In terms of the notification, Indian companies can issue equity shares up to 50 per cent, 51 per cent and 74 per cent as the case may be, in re

Purchases All Figures Are in USD Millions Merchant Interbank Position Date FCY/INR FCY/FCY FCY/INR FCY/FCY Spot Forward Forward Cancellation Spot Forward Forward Cancellation Spot Swap Forward Spot Swap Forward 15/12/97 230 67 20 14 11 14 594 1133 90 342 129 27 16/12/97 175 60 21 8 11 6 1096 794 91 375 115 12 17/12/97 197 54 6 9 44 16 383 1413 179 526 158 16 18/12/97 185 36 18 3 7 4 514 1028 145 277 92 11 19/12/97 200 46 19 6 11 6 426 639 114 346 94 36 22/12/97 259 68

In a major drive to simplify procedures for foreign direct investment under the "automatic" route, RBI has dispensed with the need for its prior approval for such proposals. Indian companies have been given general permission to accept investments under this scheme as per policy guidelines laid down by the Government of India. In terms of the policy of the Government of India, Indian companies engaged in manufacturing items falling under priority industries and certai

Purchases All Figures Are in USD Millions Merchant Interbank Position Date FCY/INR FCY/FCY FCY/INR FCY/FCY Spot Forward Forward Cancellation Spot Forward Forward Cancellation Spot Swap Forward Spot Swap Forward 08/12/97 211 46 26 5 16 15 672 957 75 311 114 13 09/12/97 171 50 8 7 17 9 513 674 57 443 109 7 10/12/97 171 38 9 6 41 20 687 909 81 504 216 8 11/12/97 190 90 9 7 28 17 813 925 79 760 143 21 12/12/97 263 94 12 12 30 18 746 1091 105 402 149 17 Sales 08/12/97 209