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Rupee
down 3 paise
Mumbai: The rupee closed three paise weaker at
45.38/39 in its value against the dollar.
Forwards Market: The six-month forward closed at
0.44 per cent (0.55 per cent) and the twelve-month forward
closed at 0.43 per cent (0.51 per cent).
G-secs: The benchmark 8.07 per cent 2017 paper
opened at Rs 120 at YTM 5.80 per cent and closed at Rs
119.50 with YTM 5.86 per cent.
Call Rates: were in the range of 4.25 to 4.50 with
deals mainly struck at 4.40 levels.
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2015
and 2028 stock auction
Mumbai: The Government of India has announced the
sale (re-issue) of 7.38 per cent Government stock 2015
for a notified amount of Rs 6,000 crore and 6.13 per cent
Government stock 2028 for a notified amount of Rs 3,000
crore. The auctions will be conducted on June 17.
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IDBI
Bank plans expansion
Chennai: IDBI Bank intends to focus on expanding
its network in smaller towns and will use the Rs 130 crore
of Tier-II capital it raised through issue of bonds to
power the same. The bank says that in the next six months
it would be present in 87 cities, as against 69 now.
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J&K
Bank declares 100 per cent dividend
New Delhi: Jammu & Kashmir Bank Ltd has declared
total dividend of 100 per cent for the year ended March
31, 2004.This
is inclusive of the interim dividend of 50 per cent announced
in February this year. This was announced by the bank's
Annual General Meeting held in Srinagar on Tuesday.
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UCO
Bank to diversify operations
Kolkata: UCO Bank proposes to diversify into risk
hedging through interest rate swaps, options and futures,
both in foreign currencies and rupees.
The bank's shareholders were also informed at their annual
general meeting that the new business initiatives would
also see maximisation of fee-based income through the
sale of insurance and mutual fund products, extension
and expansion of depository services through the bank's
wide branch network and garnering fresh corporate agency
business.
As of now 86 per cent of the bank's total business is
transacted through 845 branches that have been brought
under computerisation and the aim was to achieve 100 per
cent computerization and introduce Single Window System
in all the computerized branches during the current fiscal
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Vijaya
Bank on the RTGS grid
Bangalore: Vijaya Bank has gone live with real
time gross settlement (RTGS) that enables instant transfer
of funds between banks and institutions.
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Deutsche
Bank net profits up 60 per cent
Mumbai: Deutsche Bank has posted a 60 per cent
jump in net profit for the year ended March 2004 to Rs
272.6 crore up from Rs 170.6 crore in the previous year.
Total income of the bank increased 31 per cent to Rs 905.6
crore (Rs 692.8 crore) mostly on account of treasury gains,
transaction banks and investment banking activities. Total
assets stood at Rs 8,597 crore and total deposits were
at Rs 2,533 crore. The bank concentrates on treasury activities,
transaction banking, corporate banking and investment
banking activities in India. It is mostly a wholesale
bank in most of the markets that it is present in.
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