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Forex reserves down by 1.30 billion dollars

     Mumbai: Due to Foreign Institutional Investments outflows in search of better returns and strengthening dollar, Foreign Exchange (forex) reserves dropped by 1.301 billion dollars for the third consecutive week. For the week ended on May 13, 2005, the Foreign exchange reserve declined from 141.475 billion dollars to 140.174 billion dollars. The quantum of outflows worth 1.301 billion dollars further strengthens the market perception that FIIs are moving out of emerging markets to the more safer US markets where interest rates are showing increasing signs of hardening. According to a statistical statement released here by the Reserve Bank of India (RBI), the fall in the FIIs inflows is mainly due to appreciation of the US dollar against the rupee as well as against other major currencies including the Yen, Euro and Sterling Pound.

Kapil Dev unhappy over Greg Chappell's appointment (Go To Top)

     Chennai: Former Indian cricket captain and star allrounder Kapil Dev has questioned the Board of Control for Cricket in India's (BCCI) decision to apppoint former Australian captain Greg Chappell as the new coach of the Indian cricket team. Chappell was given the reins of the Men in Blue on Friday after a six-member special BCCI committee comprising of three former Indian captains -- Sunil Gavaskar, S.Venkatraghavan and Ravi Shastri -- and three Board officials -- Jagmohan Dalmiya, Ranbir Singh Mahendra and S.K.Nair -- spent a day-and-a-half interviewing Chappell and three other prospective candidates -- West Indian Desmond Haynes, Australian all rounder Tom Moody and India's 1983 World Cup hero Mohinder Amarnath. "Who is Greg Chappell?" Kapil Dev said in apparent dismay over the Board's decision, saying that it would have been much better had a coach of Indian origin been appointed. "Is he an Indian? I really don't know how to say this, but I am wondering to myself if anyone other than an Indian can feel 100 per cent for India in a cricket match. His blood won't boil if we lose badly. His heart will not throb if we win a thriller," Kapil said.

Committment key to success: Greg Chappell (Go To Top)

     New Delhi: The Indian cricket team's focus and endeavour over the next two years will be to commit itself to excellence in all departments of the sport, said new Indian coach Greg Chappell soon after his appointment was formalised by the Board of Control for Cricket in India's six-member special committee on Friday. Addressing the media, Chappell, who was preferred over Desmond Haynes, Mohinder Amarnath and Tom Moody, said both the players and the coach would project a desire to succeed at the international level and take Indian cricket to a higher level. Chappell termed his new job as ``exciting and challenging'' and said he would bring in his own philosophies and plans to take the Indian team further up the ladder. ``It is going to be exciting. There is going to be lot of challenges, a number of priority issues ... my job will be to maintain and improve the quality of the team. I give my commitment to excellence to Indian cricket on and off the field ... It will be a full time commitment, 24 hours, seven days a week,'' the 57-year-old former Australian captain said. Chappell's contract commences this June and extends until the completion of the World Cup in the West Indies in 2007. Chappell, a world class batsman of the 1970s and 80s with 7,110 runs from 87 Tests, said talent alone would not bring success to the Indian team. ``I have my own plans, but if the 16 or 18 players don't find playing for India enough to get them motivated, then it will be hard on me and them as well,'' he said. ``There are certain things that are non-negotiable. Commitment, preparation, discipline from players and myself, and then the talent.''

Chappel has right credentials: Raj Singh Dungarpur (Go To Top)

     Mumbai: Former Board of Control for Cricket in India (BCCI) president Raj Singh Dungarpur has said that Greg Chappell possesses the right credentials for being the coach of the Indian cricket team. "A coach should be a person whom the players look upto and the one who possesses the necessary credentials and the expertise to render correct advice to the players of the caliber of Sachin Tendulkar, Rahul Dravid among others" Dungarpur remarked. "He should have the stature, pedigree and should be a keen student of the game, besides a successful cricketer who had made his mark on the game, to coach a team like India. And, Greg Chappell fits the bill perfectly. He has the charisma, brain and has been a legend so the players will always look upto him and he cannot be ever looked down upon, " Dungarpur explained. When asked whether Chappell's huge persona would lead to a possible personality clash with Indian captain Sourav Ganguly, Dungarpur replied ,"What personality clash,?" "Chappell is too big a player and can be compared to only a couple of Indian players in terms of his skills and stature such as Sunil Gavaskar and Gundappa Viswanath. "Therefore, the question of personality clash does not arise."


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