13 march 2004

rupee range-bound
the rupee closed at 45.2550/26 per dollar on friday as against thursday's closing of 45.28.

forwards market - the six-month premium closed at 0.34 per cent (0.45 per cent), while the one-year premium closed at 0.44 per cent (0.47 per cent).g-secs - the 5.64 per cent 2019 was up at rs 99.80/90. the 8.07 per cent 2017 went up to rs 123.50/60

interest rates on small savings to remain unchanged
mumbai: according to government officials there will be no change in interest rates on small saving instruments for the time being. subsequent to a meeting of the advisory panel chaired by dr rakesh mohan, reserve bank of india, deputy governor the officials further indicated that the market stabilisation fund was in the final stages of approval and the first tranche would be included in the union government's borrowing programme during the first quarter of the next fiscal. they indicated that the fund would be a combination of bonds and treasury bills and the exact amount would be finalised along with the calendar for government's borrowing programme.

sbi-canara bank joint venture in russia
bangalore: the commercial bank of india, a joint venture entity of the sbi and the canara bank will come into existence in russia and is expected to begin operations by next month. according to bank officials both the banks had already remitted the capital for the purpose. the joint venture is capitalised at $20 million, of which sbi has provided $12 million. both the banks had so far functioned through representative offices in russia. the board of the bank would have two directors each from the sbi and the canara bank and representatives from the russian government.

sbt branches linked to atms nationwide
thiruvananthapuram: the state bank of travancore (sbt) has announced that all its branches in thiruvananthapuram are now linked to the state bank atm network. customers with savings bank or current accounts at any of the bank's branches in thiruvananthapuram will now be offered atm cards free-of-cost. with their atm cards, these customers will be able to access over 3,200 atms of the state bank group across the country, the release adds.besides, sbt customers with atm cards can also make withdrawals from the atms of uti bank and hdfc bank.

12 march 2004

rupee down 6 paise
the rupee, at 45.28, closed six paise weaker in value to the dollar on thursday.