Monday, July 20, 1998
Foreign, private banks get around RBI ban on gilts' forward trading
Illegal forward trading by a few private sector and foreign banks in the highly regulated government securities market -- usually on the eve of the sale of on-tap gilts -- is on in full swing with players taking positions without having the securities in their possession.
ASMA may lift ban on futures trading
In the wake of uncertain conditions and intense debate among directors, Ahmedabad Seeds Merchant Association (ASMA) has decided to close future trading till Monday. As market has been closed since last four days, the broker community is worried about the future of castorseed trading in the exchange.
Industry concerned as PFY exports dip
There has been a steep drop in India's exports of polyester filament yarn (PFY) in recent months causing considerable concern to the industry. PFY exports which scaled a new peak of 46,109 tonnes in 1997-98 from 21,458 tonnes in the year before, are now going downhill.