state bank of mysore sets target
bangalore: for the fiscal year 1999-2000, state bank of mysore has set a recovery target of rs.200 crore. the bank has non-performing assets of rs.600 crore, out of which around 50 per cent was priority sector advances.
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rupee touches all-time low
mumbai: on 20 august 1999, the rupee touched rs.43.57, its all-time low. interestingly, the previous all-time low was recorded on 20 august 1998, which was rs.43.50.

the 1998 low was owing to factors such as the russian crisis, the pokhran effect and a general currency crisis in the south asian region. the fall of the rupee now is owing to genuine dollar demand from companies. some sections of the dealing community also attribute the fall to the negative stand taken by g-8 nations towards india’s draft nuclear doctrine.

the reserve bank of india, intervened in the markets in 1998, while this time around, the central bank is staying away.