Bond prices crash
Mumbai: The rupee closed at 45.84/86 against the dollar on Budget day - unchanged from the previous levels of 45.8450/8600.
Forwards Market: The six-month forward closed at 1.16 per cent (0.96 per cent) while the twelve-month forward closed at 1.14 per cent (0.91 per cent).
G-Secs: The yield on the ten-year benchmark 7.37 per cent 2014 paper moved up to 5.80 per cent . The 7.38 per cent 2015 paper crashed to close at Rs 111.20. The 8.07 per cent 2017 paper dipped over a rupee ending at Rs 117.20.
Call Rates: Easy at 4.25 - 4.50 per cent.
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With Rs 9,000 crore IDBI to have zero NPA
Mumbai: The Finance Minister in his Budget has set aside Rs 9,000 crore in to enable IDBI to clean up its balance sheet.
The Rs 9,000-crore will be called a stressed asset stabilisation fund and will be off the balance sheet of IDBI. IDBI had net NPAs as high as 14 per cent as on March 2003. IDBI is set to start functioning as a commercial bank with a focus on development finance.
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