RBI relaxes cash withdrawal limit with immediate effect
MUMBAI The Reserve Bank of India (RBI) on Monday relaxed cash withdrawal limits from automated teller machines (ATMs) and current accounts with immediate effect.
MUMBAI The base price for state-run Oil India Ltd's (OILI.NS) share sale, to take place on Friday, has been set at a 5.6 percent discount to its share price, the company said, in a deal that will raise about $575 million.
The government will sell a 10 percent stake in Oil India through the auction, as part of its drive to raise 300 billion rupees by selling shares in some state enterprises in the 2012/13 fiscal year to March.
The floor price for the Oil India auction will be 510 rupees a share, as compared to its Thursday closing price of 540 rupees. At the floor price, the government could raise about $575 million through the stake sale.
(Reporting by Sumeet Chatterjee; Editing by G.Ram Mohan)
SINGAPORE Oil markets were mixed on Tuesday, supported by Saudi Arabia saying it would strictly adhere to a commitment to cut output, but held back by scepticism in financial markets about the outlook for crude prices.
Gold prices rose on Tuesday to hover near seven-week highs hit the day before, with safe-haven demand boosted ahead of a speech in which British Prime Minister Theresa May is expected to discuss plans for a "hard Brexit".