Sharp plunge for Rupee
Mumbai: The rupee ended at 45.66/68 against the dollar on Friday, which is a five-and-a-half month low. The currency experienced its lowest close since January 2 when it had touched 45.695/705 at the day's end.

G-secs: The benchmark 10-year 7.37 per cent 2014 paper closed 85 paise lower than Thursday's close at Rs 114.20. The 8.07 per cent 2017 paper had a one rupee drop to Rs 119.50 with yield rising to 5.86 per cent. The new 7.38 per cent 2015 paper closed lower at Rs 114.10 which was a Re 1 drop.

Call Rates: were between 4.25-4.50 per cent.
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RBI: Ad hoc committees to get more time
Mumbai: The Reserve Bank of India has decided to extend the time given to the ad hoc committees constituted by banks by six months, enabling them to complete their work within one year of their constitution.

In a circular issued to all scheduled commercial banks, the apex bank has also advised banks to associate non-officials in the ad hoc committees constituted by them.
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Canara Bank ties up with Western Union
Kochi: Canara Bank has entered into a franchise agreement with Western Union Financial Services for money transfer facility. It enables instantaneous remittance of money from 197 countries to India by NRI's.
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Cosmos Co-op Bank profits up 125 per cent
Pune: The Cosmos Co-operative Bank Ltd. has recorded a 125 per cent increase in profit for the year ended March 2004. The net profit has also risen to Rs 70 crore for the fiscal ended March 2004 against Rs 30 crore registered for the year ended March 2003. The book value of the paid-up share of Rs 100 was currently at Rs 950.

For the fiscal ended March 2004, the bank has earned operating profit of Rs 110 crore and CRAR (capital funds to risk assets ratio) was 16.40 per cent as against the minimum specified 9 per cent. It has also brought down the net NPA (non-performing assets) percentage to 2.14 per cent and the target that the bank has set itself for the current fiscal was to bring down the net NPA to zero per cent.

During 2003-04, the bank obtained membership of the Indian Financial Network (INFINET), Negotiated Dealing System (NDS) and Real Time Gross Settlement (RTGS) schemes. The Cosmos Bank has also invested close to Rs 17 crore for creating new facilities at its data centre in Pune, at (Treasury) dealing room in Mumbai as well as at all branches.
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Federal Bank to accept premiums for ICICI Prudential
Kochi: ICICI Prudential has tied up with Federal Bank to accept premium from any of its customers in Kerala through the bank's 327 branches across the State.

Currently, customers can make renewal premium payment through cash or the bank's same branch cheques. The facility will soon be extended to include cheques of other banks as well as demand drafts, a press release issued here has said. The facility will be available to all policyholders and there will be no extra charge levied for availing of the service.
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