Rupee lower by 15 paise
Mumbai: The domestic currency weakened to close at 43.79/80 in its value against the dollar, around fifteen paise lower than Monday's 43.64/65.
Forwards market - The six-month premium ended at - 0.11 per cent while the premium for one year ended at 0.06 per cent.
G-Secs- The 8.07 per cent 2017 paper opened at Rs 125.30/35 and got dealt up to Rs 125.20/22, while the 6.35 per cent 2020 opened at Rs 109 and fell to Rs 108.88/90.
Call rates remained at 4.25 per cent levels.
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120 banks and dealers to be under RTGS by June
Mumbai: According to the Reserve Bank of India nearly one hundred and twenty financial intermediaries, comprising mainly banks and primary dealers will be brought under the network of the Real Time Gross Settlement System by June. By the end of this week around 20 banks will be brought under the ambit of the RTGS, while another 20 will be added by month-end.

Some of the banks, which will be soon brought under the RTGS, include Union Bank of India, ICICI Bank, BNP Paribas, Central Bank of India, Corporation Bank, Bank of India, Bank of Baroda and Canara Bank. The RBI has also asked the banks to expand the coverage of RTGS in order to enable a large customer base to utilise this service.
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SIDBI assesses state financial corporations
Hyderabad: The Small Industries Development Bank of India (SIDBI), has begun the exercise of assessing the financial strengths and weaknesses of various state financial corporations (SFCs) to ascertain their credit absorption levels from the Rs 10,000-crore SME (small and medium enterprises) fund. The bank has chalked out a five-point criteria for the purpose of assessing the SFCs and has so far found seven SFCs meeting these standards.

The SFCs that have met the criteria belonged to Andhra Pradesh, Karnataka, Kerala, Rajasthan, West Bengal, Himachal Pradesh and Tamil Nadu. Accordingly, SIDBI has entered into a memoranda of understanding (MoUs) with the first six SFCs to offer them funds at an interest rate of 7.5 per cent so that the ultimate SME borrower would get loans at a maximum of 9.5 per cent from the SFC. The bank expects to enter into a MoU with Tamil Nadu SFC shortly.
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