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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
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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.
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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.
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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.
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