Rupee unchanged
Mumbai: The rupee closed at 43.89/90 in its value against the dollar on Monday.
Forwards Market- The six-month premium ended at - 0.25 per cent (-0.26 per cent) while the one year premium ended at - 0.04 per cent (-0.23 per cent)
G-Secs- The 8.07 per cent 2017 paper was dealt lower at Rs 125.41/43, while the 7.37 per cent 2014 paper also got dealt lower at Rs 117.87.
Call rates remained at 4.25 per cent levels in the inter-bank market.
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Canara Bank: Cuts home loan rates
Bangalore: Canara Bank has cut the interest rate on home loans by 0.25 percentage point across all maturities and on fixed and floating rate options, effective as of April 1. In a release the bank has said that under floating rates the interest rate would be 7.25 per cent instead of 7.5 per cent for loans up to five years, irrespective of loan size.

For loans above five years tenure, the rates are down to eight per cent from the earlier 8.25 per cent up to a loan size of Rs 10 lakh irrespective of tenure. For loans above five years exceeding Rs 10 lakh, the new rate would be 8.25 per cent down by 0.25 percentage point from the earlier 8.5 per cent irrespective of tenure. Fixed rates applicable for the above three categories would now are 7.75 per cent (8 per cent), 8.75 per cent (9 per cent) and 9 per cent (9.25 per cent), it said.
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RBI asks banks to accept coins by weight
Mumbai: The RBI has advised all the branches of public/private sector banks in Mumbai city to accept, by weight, aluminium coins of 5 paise, 10 paise, 20 paise, aluminium bronze coins of 10 paise, stainless coins of 10 paise, cupronickel coins of 25 paise, 50 paise and Re 1 denominations.

According to a release, the RBI has requested the public having stock of such coins to tender them, denomination-wise and metal-wise, over the counters in lots of 100 coins in polythene sachets. Similar arrangements also exist for acceptance of current stainless steel coins of 25 paise, 50 paise and Rs 1 and cupronickel coins of Rs 2 and Rs 5.
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Dena Bank revises NRE deposit rates
Mumbai: The Dena Bank Ltd has revised the interest rates on its Non-Resident External Deposits for one, two and three year NRE deposits. T he rates have been revised to 1.35 per cent, 1.90 per cent and 2.40 per cent respectively with immediate effect, said a press release. Interest rates on NRE savings deposits for the quarter April-June 2004 has been fixed at 1.20 per cent.
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AIBOC Kerala drops strike plan
Kochi: The All-India Bank Officers Confederation has called off its proposed state-wide strike in Kerala on April 20. At a meeting organised between the organisation and the Dhanalakshmi Bank management at Thrissur, it was decided that the retirement age of officers would be reverted to 60 years. According to reports the management has also agreed to reconsider the various transfers affected as a result of the strike called by the officers on April 10.
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