Money supply up
Mumbai: The year-on-year money supply has shot up to 19.2 per cent, the highest ever level for the current financial year, during the fortnight ended 13 August, according the Reserve Bank of India.

The Weekly Statistical Supplement of the RBI said the total stock of money stood at Rs 10,24,897 crore as on 13 August, an increase of Rs 7,881 crore during the fortnight.

The currency held by public increased by Rs 4,277 crore to Rs 1,80,881 crore, while demand deposits fell by Rs 1,047 crore to Rs 1,26,405 crore.
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Sikkim Bank gets moratorium
Mumbai: The government has issued moratorium orders on Sikkim Bank for three months -- for the period starting 4 September 1999 -- under the provisions of the Banking Regulations Act. The Reserve Bank of India said in a statement that the orders were issued in response to an application from the bank.

"The moratorium has been issued in the public interest, in the interest of depositors and the banking system," the RBI statement said.
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Canbank MF schemes perform well
Mumbai: Restructuring of equity portfolios of the schemes of Canbank Mutual Fund during 1997-99 improved the performance of all its 15 schemes, a report of the board of trustees has revealed.

Though all the schemes outperformed the BSE Sensex, Canpep 94, Canpep 95 and Canganga have net asset values below Rs 10. The report said Canstar's contingent liabilities emanating from the transactions in securities entered into by the scheme prior to 1992 stood at Rs 133 crore as on 31 March 1999.
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