Rupee ends higher
The rupee on Wednesday closed higher at 45.2250, from Tuesday's close of 45.2375 in its value against the dollar.
Forwards Market - The six months forward closed at 0.41 per cent (0.35 per cent) and the one-year closed at 0.48 per cent (0.47 per cent).
G-secs - The 8.07 percent 2017 paper rose 24 paise to 122.85 at the close of trading. The yield fell 2 basis points to 5.56 percent.
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Redemption of March papers
Bangalore: The Government is poised for the redemption of securities maturing during the next few months. Two securities, the 11.57 per cent 2004 and the 12.50 per cent 2004, have already been notified for redemption by the Reserve Bank of India. These securities, issued in 1998 and 1994, respectively, mature on March 23 and March 25, 2004.
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StanChart sets up SCILL
Mumbai: Standard Chartered Bank has announced the establishment of the Standard Chartered Investments and Loans (India) Ltd SCILL, a 100 per cent subsidiary. The newly set up SCILL will venture into the domestic debt market shortly.
SCILL will be a corporate-focused, non-banking finance company, which will not accept public deposits.

Stan Chart says that it plans to raise commercial papers, non-convertible debentures and inter-corporate deposits in the local debt market. SCILL will start with an equity capital of $7.5 million, which will be scaled up to $50 million over 18 months. For the Standard Chartered group, India is the third largest market in Asia after Hong Kong and Singapore. For the year ended December 2003, the Indian unit earned $186 million profit before tax.
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Nabard Capital Gains Bonds
Thiruvananthauram: Nabard (National Bank for Agriculture and Rural Development) has decided to close subscriptions to the Nabard Capital Gains Bonds issue at the existing rate of 5.00 per cent per annum from the close of business on March 13, 2004.
The issue will remain closed from March 15, 2004, to March 31, 2004 (both days inclusive) and shall reopen for fresh subscription on April 1, 2004. Interest rate for the fresh issue shall be announced later.
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AIBEA asks candidates to declare dues
Chennai: The AIBEA has written to the Election Commission, asking the Commission to publicize the bank defaults of all the candidates contesting in the current Lok Sabha elections. As per a Supreme Court judgment from 2003, the candidates are required to declare their financial liabilities and dues to banks to the EC.
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Corporation Bank Foundation Day celebrations
Mangalore: Corporation Bank will celebrate its 98th Foundation Day on March 12. As part of the celebration, the Director of National Judicial Academy, Bhopal, Dr N.R. Madhava Menon, will deliver a lecture on "Law and economic development in a globalised environment" at the corporate office of the bank.
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SBT branches get ISO
Thiruvananthapuram: Four more branches of the State Bank of Travancore have received the ISO 9001:2000 recognition. The bank says that it has achieved 100 per cent computerization and is aiming to achieve ISO certification for more branches.
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