28 aug 2004

securities rally, rupee in range
mumbai: the rupee closed steady at 46.30 per dollar on friday in a range-bound forex market, as against thursday's closing of 46.33.

forwards market: the six-month premium ended at 2.48 per cent (2.49 per cent) and the premium for one year ended at 2.16 per cent (2.12 per cent).

g-secs: bond prices rallied by over one rupee across maturities on friday. the benchmark 10-year 7.37 per cent 2014 yield ended lower at 6.09 per cent at rs.109.35.

call rates: easy at 4.25 levels.

award for corporation bank
mangalore: corporation bank has won the "best bank award for delivery channels" from the institute for development and research in banking technology (idrbt).

a bank release said here that the governor of reserve bank of india, dr y.v. reddy, presented the award to the chairman and managing director of corporation bank, k. cherian varghese, in hyderabad on friday.

the release said that the bank has won the idrbt award for the third consecutive year. earlier, it had bagged the "best bank award for excellence in banking technology" in 2001 and the "best bank award for innovative usage and application on infinet (indian financial network)" in 2002.

ksfc and iffco in pact for non-life products
bangalore: the karnataka state financial corporation (ksfc) has signed a corporate agency agreement with iffco tokio general insurance to further strengthen the marketing of non-life products.

ksfc had diversified its activity into distribution of insurance products in 2002 and had mobilised a cumulative premium income of rs.2.17 crore till july this year.