On September 24, 2001, the rates charged by scheduled commercial banks on pre-shipment and post-shipment rupee export credit have been reduced by one percentage point across the board with effect from September 26, 2001. This dispensation was earlier extended up to October 31, 2003.
UTI-I in gilt repos
The Reserve Bank of India has decidedto permit the Administrator of the Specified Undertaking of the Unit Trust of India (UTI-I) to participate in the government securities repo market with immediate effect.
UTI-I is one of entities borne out of the splitting of erstwhile Unit Trust of India with the other part UTI-II acting as mutual fund.
