Rupee down another three
Mumbai: The rupee closed at 45.43 in its value against the dollar on Thursday, weaker by about three paise, as compared with Wednesday's close of 45.40/41.
Forwards Market: The six-month forward closed at - 0.46 per cent ( - 0.58 per cent), and the one-year forward closed at - 0.10 per cent ( - 0.12 per cent).
G-Secs: The benchmark 8.07 per cent 2017 paper closed at Rs 122.82/85. The 7.37 per cent 2014 paper fell 20 paise to Rs 116.50. The 7.46 per cent 2017 paper closed at Rs 117.75.
Call Rates Steady at 4-4.25 per cent.
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SBI raises $250 m
Mumbai: State Bank of India has raised a $250 million foreign currency syndicated loan. Citigroup, BNP Paribas and Calyon were the mandated lead arrangers. A total of 12 banks from 8 countries form the syndicate of lenders, said a press release from Citigroup.

According to a Citigroup press release, this is the largest borrowing by any bank in the recent past and has been priced very finely to set a new benchmark for State Bank of India. It said further that the transaction is reflective of SBI's pre-eminent position, strong financials, and growth prospects.
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RBI launches Gold card for exporters
Mumbai: The Reserve Bank of India in consultation with banks and exporters has announced the gold card scheme for exporters to get cheaper and faster credit. As per the scheme all credit worthy exporters, including those in small and medium sectors, with good track record will be eligible for a gold card. Individual banks are to lay down the eligibility criteria for issue of the card, said a press release from the apex bank.

The RBI has asked banks to clearly specify the benefits they would be offering to the gold cardholders. Some of the stated objectives include, better terms of credit including rates of interest than those extended to other exporters by the banks, faster and simpler processing of applications for credit, sanction of `in principle' limits for a period of three years with a provision of timely renewal, preference for grant of packing credit in foreign currency. The gold cardholders, on the basis of their track record of timely realisation of export bills, will also be considered for issuance of foreign currency credit cards for meeting urgent payment obligations, said the release.
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ABN-Amro launches RTGS facility
Mumbai: ABN-Amro Bank has announced that it has seamlessly connected and transacted over the RBI's Real Time Gross Settlement (RTGS) network for both inter-bank and customer payments. This enables ABN-Amro's customers to obtain significant benefits for their working capital flows through RTGS transactions, said a press release from the bank.
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HSBC gets RBI nod for UTI Bank stake
Mumbai: HSBC has said that it has received RBI's permission to buy 14.7 per cent stake in UTI Bank. HSBC has received RBI permission to carry out only the first tranche of the Rs 418-crore deal although it had applied for permission to purchase the entire 20.08 per cent involving two tranches. HSBC had earlier received the FIPB and SEBI nod for the same earlier. In December 2003, HSBC had announced the Rs 418-crore deal to purchase 20.08 per cent stake in UTI Bank from CDC Capital partners (now Actis) at around Rs 90 per share.
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