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Singur land not 'formally' sought: Industry minister
The West Bengal government had not sought return of the land at Singur from Tata Motors ‘formally’, said West Bengal commerce and industry minister Nirupam Sen, a day after Ratan Tata said the government had not approached for the land. Speaking on the sidelines of a seminar organized by Assocham in association with the Bengal Chamber of Commerce & Industry and Merchants’ Chamber of Commerce, Sen said, though the government had not formally asked for the land, the company had been informed about the Bhel proposal and later the Railways proposal. Sen said, unless the Railways submitted a formal proposal, the government would not ask for the land back. With Sen’s comments, it appears that Singur was once again in limbo, as Railways has made it clear that it would not visit the land as it belonged to Tata Motors.

State Bank of Mysore extends 8% home loan scheme
State Bank of Mysore has extended its two 8 per cent home loan schemes till March 31, but has begun levying processing charges from this month, a source in the bank’s personal and services banking department said. The schemes were set to expire on November 30.

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Smart thinking
The Railways is not short of smart ideas. After using the inside walls/doors of trains like the Rajdhani Express to place ads, another smart idea is to make use of the long waiting period at its telephonic information services. Those calling 139, the information service, are asked to enter their choices (1 for Hindi, and so on) on various prompts — after a while, ads of Tata Indicom phones get played.
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Forex reserves up at $286.376 billion

India"s foreign exchange reserves rose by $0.962 million to $286.376 billion for the week ended November 13 from $285.414 billion in the previous week, the Reserve Bank of India (RBI) said today. - Forex reserves up by $1.023 bn to $285.414 bn - Forex reserves down $1.13 bn - Forex reserves up $684 mn to $285 bn - Capital inflows lessen external sector blues - Forex reserves up by $1.52 bn to $281.86 bn - Forex reserves fall to $280.770 bn Foreign currency assets (FCAs) during the week went up to $262.905 billion as against $261.957 billion in the week-ago period, the RBI said in its weekly report. FCAs, expressed in US dollar terms, include the effect of appreciation or depreciation of non-US currencies such as euro, sterling and yen held in reserves. Gold reserves stood unchanged at $17.5 billion, while the special drawing rights (SDRs) went up to $5.270 billion, the RBI said. The country"s reserve position in the International Monetary Fund stood at $701 million during the period under review, the apex bank said.


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