|
Rupee range-bound
Mumbai: The rupee closed at 45.2350/2450 in its
value against the dollar. It opened at 45.24550/2550 with
the intra-day high being 45.23.
Forwards Market- The six months forward closed at 0.36
per cent (0.34 per cent) and the one-year forward closed
at 0.46 per cent (0.44 per cent).
G-Secs-
The 8.07 per cent 2017 paper closed at Rs 123.35. The
10-year benchmark closed at Rs 116.95 with a yield of
5.19 per cent.
Back
to News Review index page
RBI to educate banks about Basel-II
Mumbai: The RBI plans to hold a seminar on Basel
II shortly, to give bankers a better understanding of
the new accord. Officials of the bank have said that the
central bank would look at a variety of approaches to
implement the Basel-II framework in a manner suitable
to banks in the Indian regulatory environment.
The
Basel-II accord links capital with risk management and
will exert pressure on banks and supervisors to provide
supervisory data inputs wherever necessary, in order to
ensure consistency in the output across the banks.
Back
to News Review index page
RBI approval for $473.21 m ECBs
in February '04
Mumbai: The Reserve Bank of India has given approvals
to 39 companies to raise external commercial borrowings
worth $473.21 million in the month of February.
The
apex bank released the latest information relating to
the ECBs under both automatic and approval routes for
February, with a view to facilitating greater transparency.
Back
to News Review index page
SBI ties up with HMT for tractor finance
Bangalore: According to a memorandum of understanding
signed between HMT Ltd and the State Bank of India (SBI),
the bank will be the preferred financier for purchase
of HMT tractors.
Farmers utilising the finance scheme would be entitled
to a reduction of Rs 4,000 on the MRP of tractor from
the dealers. The scheme is applicable to HMT's entire
range of tractors, said a company release. An individual
farmer or farmers not exceeding three in number (as co-borrowers)
owning minimum four acres of irrigated land will be eligible
for the finance.
The
interest rate under the scheme would be 9.75 per cent
for a loan up to Rs 2 lakh and 10.25 per cent for loans
from Rs 2-5 lakh.
Back
to News Review index page
|
