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Rupee
eases
Mumbai: The rupee eased seven paise to end the day at
43.74/75 in its value against the dollar. The currency
opened at 43.6850/6950 and touched a low of 43.7750.
Forwards market - The six months premium closed
at 0.42 per cent (0.56 per cent) and the one-year closed
at 0.36 per cent (0.47 per cent).
Market Stabilisation Bonds - The Rs 5,000-crore
auction received bids worth over Rs 12,000 crore.
G-Secs - the 8.07 per cent 2017 paper, opened at
Rs 124.63/65 and closed at Rs 124.75 at an yield of 5.37
per cent. The 6.25 per cent 2018 paper opened at Rs 107.70
and closed at Rs 107.62.
Call rates- the lowest rate was at 3.5 per cent.
Through the seven-day repo, funds worth Rs 19,455 crore
were absorbed at the repo rate of 4.5 per cent.
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Exemption
for Centurion Bank on subscribed capital norms
Mumbai: Centurion Bank has received exemption till
December 31, 2004 from the Finance Ministry and the Reserve
Bank of India on meeting the minimum requirements of subscribed
capital in proportion to the authorised capital as prescribed
by the Banking Regulation Act. The bank's previous rights
issues in February 2001 were not adequately subscribed.
Meanwhile, the bank has incurred a net loss of Rs 26.33
crore for the over 10-month period ended February 2004,
according to the draft prospectus field with the Securites
and Exchange Board of India for the proposed rights issue
of Rs 90.80 crore. The bank has not yet received approval
from RBI for the appointment of Mr Rana Talwar as its
Chairman. The bank will have to comply with the regulations
by December 31.
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Centurion
Bank cuts deposit rates
Mumbai: The Centurion Bank announced a cut on its
domestic term deposit rates by 0.25 percentage points
for various maturities with effect from April 5. The deposit
with a term of above one year and up to 2 years will come
at 5.75 per cent (6.00 per cent). The deposit with a term
of above two years and up to five years will also come
at 5.75 per cent (6.00 per cent).
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Syndicate
Bank business crosses Rs. 62,000 crore mark
Thiruvananthapuram: Syndicate Bank's total business
has crossed Rs 62,000 crore in 2003-04, marking an increase
of about 40 per cent over the previous year. According
to the bank the business comprised deposits of Rs 41,000
crore and advances of around Rs 21,000 crore. The bank
said that its business has been going up by an average
of Rs 1,000 crore per month over the last one-and-a-half
years. With higher provisions for net non-performing assets,
the net NPA was expected to come down to 3.5 per cent
from 4.5 per cent in the previous year.
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