24 march 2002

uti bank mulls second public issue
bangalore: uti bank may go in for its second public issue this year to mop up more than 15 per cent of its paid-up capital, which is rs 200 crore currently.

uti bank had made a rs 71-crore public issue in 1998.

nabard sanctions rs 26 cr for chhattisgarh roads
raipur: the nabard has sanctioned a loan of rs 26.03 crore to chhattisgarh for construction of roads and bridges in the state.

with this latest sanction of loan, the national agriculture and rural development bank has sanctioned a total of rs 46.79 crore to the new state from its rural infrastructure development fund.

23 march 2002

rbi lifts lock- in for repatriation
mumbai: the rerserve bank of india (rbi) has removed the lock-in period for repatriation of sale proceeds of the immovable properties purchased in india by non-resident indians (nris) and persons of indian origin (pio) through inward remittances.

the rbi, however, said the sale proceeds allowed to be repatriated should not exceed the foreign exchange brought in to acquire the property. this facility will also be available to nris and pios who have already made the payment for acquiring immovable properties in india, an rbi press release said.