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Rupee
gains 40 paise
Mumbai: The rupee gained another 40-paise in its
value over the dollar on Monday, closing at 44.06/07 per
dollar.
G-Secs - The 10-year benchmark 7.37 per cent 2014
paper opened at Rs 117.12/15 and closed at Rs 117.19/21.
The 8.07 per cent 2017 paper opened at Rs 124.20/22 and
closed at Rs 124.30/33.
Call rates were at 4.25 per cent to 4.50 per cent
levels in the inter-bank market.
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RBI:
Mumbai offices functional on April
1
Mumbai:
All the offices of the Reserve Bank of India in Mumbai
and Navi Mumbai will conduct normal business on Thursday
(April 1), said a news release.
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G-sec
deals shift to DVP-III mode from April 2
Mumbai: The settlement mode of government securities
transactions, now carried out through the Clearing Corporation
of India, will be shifted to the Delivery Versus Payment-III
(DVP-III) mode effective April 2.With this, each security
will be deliverable or receivable on a net-basis for a
particular settlement cycle against the current system
of gross settlement of securities under the DVP-II mode,
according to an RBI release. These measures are expected
to improve the liquidity in Government securities market
and also reduce the price risk of market participants,
the release said.
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RBI
hikes WMA ceiling for states by 13.53 per cent
Mumbai: The Reserve Bank of India (RBI) has hiked
its aggregate normal ways and means advances (WMA) of
state governments by 13.53 per cent to Rs 8,140 crore
effective from April 1, against the earlier limit of Rs
7,170 crore. The minimum normal WMA limit is Rs 50 crore
for any State, said an RBI release.
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PNB
to clear cheques through NCRs ECPIX
New Delhi: Punjab National Bank (PNB) has signed
an agreement with NCR Corporation India to enable clearance
of inter-city cheques within 48 hours after the cheque
is presented at select centres. This will be enabled through
the image-based cheque clearing system.The facility of
intra-bank inter-city cheque truncation project uses ECPIX
(Electronic Cheque Presentment with Image Exchange) Technology.
Cheque truncation is a process in which instead of the
cheque travelling physically within a bank or between
different branches or between the banks and the clearing-house,
the electronic record (image) of the cheque is used for
further processing and transmission, thus eliminating
delays arising out of paper-based processing and transportation
of physical cheques.After successful pilot run, the system
will be introduced by connecting MICR centres located
at Lucknow, Nagpur, Jaipur, Kanpur, Ludhiana, Chandigarh,
Jalandhar, Agra, Allahabad and Varanasi.
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Andhra
Bank to share ATMs with HDFC Bank
Hyderabad: ANDHRA Bank has entered into an alliance
with HDFC Bank for sharing its network of automated teller
machines (ATMs). With this, the release said, Andhra Bank
has become the first public sector bank to ink ATM sharing
agreement with all the four new generation private sector
banks - IDBI Bank, UTI Bank, ICICI Bank and HDFC Bank.
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