Briefly Business: Forex reserves jump by $1.64 bn to $296.63 bn

Forex reserves jump by $1.64 bn to $296.63 bn

mumbai: Foreign exchange reserves rose by a robust $1.637 billion to touch $296.63 billion during the week ended December 14, the RBI has said. The total reserves stood at $294.99 billion in the previous reporting week.

PFC bonds: Subscription period extended

mumbai: Facing weak response for its tax-free bond, scheduled to close on Friday, Power Finance Corporation has extended the subscription period till December 27, 2012.

Sebi imposes 5-yr ban on Indiabulls official

mumbai: Sebi has barred Indiabulls Securities vice-president (Eastern Region) Sidharth Dagaan from trading in stocks for five years over fraudulent dealings in Aurobindo Pharma shares.

Irda for 25% of new offices in small areas

new delhi: Insurance regulator Irda has proposed to make it mandatory for insurers, who have been in business for 10 years, to open at least 25 per cent of new offices in areas that have a population less than 1 lakh.

Nokia enters into licence pact with RIM

Helsinki/New Delhi: Nokia has entered into a new patent

licence agreement with RIM which will result in settlement

of all existing patent litigation between the firms.

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