The year-on-year growth in bank credit, however, slipped marginally to 15.4 per cent from 15.6 per cent in the previous fortnight. The report said the incremental growth in non-food credit to the commercial sector in 1999-2000 is almost double the incremental growth in the corresponding period last year. At Rs 3,70,232 crore (outstanding), the incremental growth in non-food credit is Rs 18,111 crore compared to a growth of Rs 9,498 crore in the previous comparable period.

The foreign exchange reserves, including gold and Special Drawing Rights, rose $237 million during the week ended 29 October, to take the total to $33.3 billion.
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Rail fare hike possible
Lucknow: Railway Board chairman V.K. Agarwal says Indian Railways will be forced to hike passenger fares. The railways are in a dilemma about whether to increase freight charges or passenger fares, he said.

He said a hike of 10 per cent in the lower and middle class fares could mop up an additional revenue of Rs 700 to Rs 800 crore to cover the burden arising out of the recent increase in diesel price. "But that would remain grossly inadequate to meet our needs," he said.
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