Press Releases - आरबीआय - Reserve Bank of India

Purchases Figures 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 15/09/97 197 58 18 21 39 27 389 735 61 1131 119 23 16/09/97 196 52 15 17 41 21 357 700 51 1455 318 28 17/09/97 202 92 24 17 21 16 478 833 164 1396 105 11 18/09/97 210 96 26 18 36 12 461 690 73 920 124 13 19/09/97 201 74 16 20 51 13 604 953 115 980 129 35 Sales 15/09/97

Overall ceiling of 24 per cent Elgi Equipments Ltd. has already reached the overall ceiling of 24 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. No further purchases of shares of this company should, therefore, be made through stock exchanges in India on behalf of Foreign Institutional Investors/NRIs/OCBs. Alert limit of 2

The aggregate net purchases of equity shares of the undernoted companies by Foreign Institutional Investors in the primary/secondary markets together with purchases made by NRIs/OCBs under the Portfolio Investment Scheme have reached the limit of 20 per cent of paid us equity capital: BFL Software Ltd. Paper Products Ltd. Punjab Tractors Ltd. TVS Suzuki Motor Cycles Ltd. No further purchases of equity shares of these companies should be made by Foreign Institutional I

Purchases Figures 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 08/09/97 214 70 57 20 35 21 1208 1787 321 954 174 20 09/09/97 164 81 18 26 48 25 965 1112 173 1072 127 26 10/09/97 250 79 35 18 27 12 779 1307 123 730 158 14 11/09/97 171 54 4 12 27 11 524 833 98 969 139 12 12/09/97 201 72 21 19 29 26 524 940 131 1002 287 16 Sales 08/0

Investment by Foreign Institutional Investors Wartsila Diesel India Ltd. has already reached the overall ceiling of 24 per cent of paid up equity capital permitted to be held by all registered Foreign Institutional Investors together with purchases made by NRIs/OCBs under the Portfolio Investment Scheme. No further purchases of equity shares of this company should, therefore, be made through stock exchanges in India on behalf of Foreign Institutional Investors / NRIs

Purchases Figures 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 01/09/97 319 110 27 16 31 12 540 630 117 843 131 12 02/09/97 200 132 50 18 28 14 805 1073 231 1024 144 33 03/09/97 225 53 21 23 43 22 548 811 192 971 197 5 04/09/97 201 77 40 28 77 25 1143 1247 177 1383 158 56 05/09/97 160 59 4 38 45 13 708 980 190 655 159 10 Sales 01/

The Digital Equipment (India) Ltd. has already reached the overall ceiling of 24 per cent of paid up equity capital permitted to be held by all registered Foreign Institutional Investors together with purchases made by NRIs/OCBs under the Portfolio Investment Scheme. No further purchases of equity shares of this company should, therefore, be made through stock exchanges in India on behalf of Foreign Institutional Investors / NRIs / OCBs. (Alpana Killawala) General Man

The Reserve Bank of India has today announced a one percentage point reduction in interest rates on post-shipment rupee export credit and freedom to banks to fix interest rates on non-resident (external) (NRE) rupee deposits. The Reserve Bank has also clarified that the proceeds of external commercial borrowings (ECBs) and global depository receipts (GDR), which are retained abroad or held in foreign currency account in India can be sold forward. The details of the me

Purchases Figures in US$ MIO Merchant Interbank FCY/INR FCY/FCY FCY/INR FCY/FCY Spot Forward Forward Cancellation Spot Forward Forward Cancellation Spot Swap Forward Spot Swap Forward 23/6/97 250 63 6 10 32 14 329 634 70 621 152 13 24/6/97 198 78 32 7 36 20 265 509 74 589 172 11 25/6/97 262 69 25 23 37 23 333 850 92 634 318 16 26/6/97 259 117 18 11 22 13 443 738 206 559 143 19 27/6/97 257 119 22 10 44 35 582 784 171 452 196 10 Sales 23/6/97 269 32 8 10 27 11 345 545 1

Purchases Figures 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 11/08/97 198 80 15 70 69 46 379 781 110 765 171 48 12/08/97 203 89 4 33 52 102 437 726 101 1261 345 65 13/08/97 240 94 9 16 45 30 394 673 108 1107 144 77 14/08/97 278 76 3 34 56 38 299 530 59 995 477 25 Sales 11/08/97 198 57 23 37 69 37 359 704 124 745 121 45 12/08/97

Purchases Figures 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 25/08/97 123 53 21 19 30 16 583 854 702 346 98 33 26/08/97 257 169 48 25 59 34 614 1187 519 1072 406 30 27/08/97 250 113 56 9 39 22 529 1141 271 643 391 42 Sales 25/08/97 140 199 43 19 28 31 462 723 535 334 188 35 26/08/97 304 295 36 25 59 37 574 1183 371 1083 399 30 2

Purchases Figures 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 04/08/97 393 154 5 26 44 22 817 912 175 959 357 50 05/08/97 228 167 22 26 40 26 617 1026 154 895 119 14 06/08/97 216 90 5 10 63 34 518 829 129 1175 174 43 07/08/97 245 87 14 31 81 59 481 904 82 1399 166 13 08/08/97 215 103 12 27 58 37 301 679 80 1094 260 37 Sales 04/08

The Economic Times issue of August 20, 1997 in a front page article attributes to the Prime Minister the view that the Government would shortly fix a band to signal the exchange rate of the rupee in relation to the US dollar. This report is misleading. It is clarified that while the Committee on Capital Account Convertibility had recommended a band in relation to a neutral real effective exchange rate, no decision in this regard has been taken by the Government and th

The Reserve Bank of India has advised that no further purchases of shares of Infosys Ltd. and Carrier Aircon Ltd. should be made through Stock Exchanges in India on behalf on Foreign Institutional Investors (FIIs)/Non resident Indians (NRIs) / Overseas Corporate Bodies (OCBs). According to the Reserve Bank, the overall ceiling of foreign investments including registeres FIIs, NRIs and OCBs under the portfolio investment scheme in the equity capital was permitted upto

Purchases Figures 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 28/07/97 309 87 12 14 71 31 300 549 35 1139 324 41 29/07/97 260 111 23 9 50 48 328 539 45 1324 395 65 30/07/97 192 78 21 6 50 56 267 580 66 1424 197 43 31/07/97 241 56 9 6 67 33 304 676 46 1127 194 51 01/08/97 234 121 34 14 59 40 630 911 138 828 144 31 Sales 28/07/97 2

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 been reached in the case of Mastek Ltd. Therefore, no further purchases of shares of this company should be made through stock exchanges in India on behalf of foreign institutional investors/NRIs/OCBs. Alpana Killawala General Manager Press

The Reserve Bank of India has permitted authorised dealers in foreign exchange in India to provide forward cover to the Foreign Institutional Investors (FIIs) in respect of their investments in debt instruments. The extent of the cover would be limited to the current market value of the investments in debt instruments translated in dollar terms. The tenor of the cover shall not exceed the remaining period to maturity of the debt instruments in which the FII has invest

Purchases Figures 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 21/07/97 316 112 1 9 29 10 390 598 65 526 285 8 22/07/97 228 91 9 15 43 30 308 496 65 1078 183 16 23/07/97 237 56 5 9 49 38 226 451 54 1066 163 20 24/07/97 208 85 23 9 38 16 285 544 49 971 124 22 25/07/97 246 65 6 15 41 15 258 403 35 725 211 35 Sales 21/07/97 265 36 16

The Reserve Bank of India has notified that the aggregate net purchases of equity shares of Mastek Ltd. by Foreign Institutional Investors in the primary/secondary markets together with purchases made by NRIs/OCBs under the Portfolio Investment Scheme have reached the limit of 26 per cent of paid up equity capital. No further purchases of equity shares of this company should be made without prior clearance of the Reserve Bank. Alpana Killawala General Manager Press Re

Purchases Figures 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 07/07/97 277 106 20 18 46 35 479 731 74 680 303 48 08/07/97 229 80 9 9 32 12 454 470 51 587 114 30 09/07/97 202 84 37 4 36 9 367 681 52 584 190 35 10/07/97 222 55 8 4 48 23 331 560 43 633 164 3 11/07/97 221 58 26 16 75 28 515 705 39 560 220 16 Sales 07/07/97 347 177 6