Public sector lender Bank of Maharashtra plans to raise up to Rs 1,000 crore through long-term infrastructure bonds to manage asset liability mismatches and reduce incremental cost of funds.Sushil Muhnot, chairman and managing director, told Business Standard that on an incremental basis, costs savings could be in the range of 66 basis points. This could enable the bank to lend at competitive rates and also earn better returns.The exemption from priority sector lending obligations is an additional benefit, he said.The Pune-based commercial bank will go in for rating of instruments shortly and might raise money over the coming months in the current financial year.The total infrastructure and affordable housing finance loan portfolio was at Rs 15,500 crore at the end of March 2014. The exposure to infrastructure is pegged at Rs 13,000 crore and affordable home loan book was Rs 2,500 crore.Hyderabad-based public sector lender Andhra Bank and private sector lender Kotak Mahindra Bank have

The country&rsquo;s foreign exchange reserves fell $810 million for the week ended August 22 to $318 billion, show Reserve Bank of India (RBI) data released on Friday. Foreign currency assets, a key component of reserves, fell $783 million to $291 billion. Gold reserves remained unchanged during the week at $21 billion.<br />
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For the week under review, the Special Drawing Rights (SDRs) fell $20 million to $4.40 billion, while India&#39;s reserve position with the International Monetary Fund was down $8 million to $1.7 billion.

Foreign exchange reserves fall by $810 mn to $318 bn

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