Rupee arrives at the one-year low point
Mumbai: The domestic currency ended at 46.32/34 against the dollar - a level last witnessed on July 16, 2003.
Call rates: Substantially lower at about 2-2.50 per cent
G-Secs: The 7.38 per cent 2015 per cent paper closed lower at Rs.110.45. The 10-year benchmark touched a yield of 5.97 per cent before closing at 5.95 per cent.
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States to raise Rs.8,600 crore loans
Mumbai: Twenty State Governments will sell an amount of about Rs.8,600 crore on July 28. The States have offered to sell on tap 6.35 per cent Development Loan 2013 (II Series), according to a press release from the RBI. Nineteen States will tap the market for an aggregate amount of about Rs 8,000 crore as the second tranche of an additional market borrowing on account of debt swap scheme in the current financial year. Besides, three States — Madhya Pradesh, Nagaland and Punjab — will raise an aggregate amount of Rs 638.45 crore as part of their normal market borrowings.

Andhra Pradesh, Assam, Bihar, Chhattisgarh, Gujarat, Haryana, Himachal Pradesh, Jammu & Kashmir, Jharkhand, Karnataka, Kerala, Madhya Pradesh, Maharashtra, Orissa, Punjab, Rajasthan, Tamil Nadu, Uttar Pradesh and West Bengal are the States that will tap the market. The States will have an option to retain up to 20 per cent of excess subscription, on account of debt swap scheme in the current financial year. The sale will be held at the respective regional offices of RBI and at Mumbai (for all the 20 States).
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Government to issue UTI bonds for Rs.362 crore
New Delhi: The Government has announced the issue of 6.1 per cent UTI Bonds, 2011 for a notified amount of Rs 362 crore. An official statement said that the UTI Bonds will be issued at par on July 23 to the Administrator of Specified Undertakings of UTI for meeting their liabilities arising on account of shortfall in assured return schemes. The investment in the UTI Bonds will not be reckoned as an eligible investment for purpose of Statutory Liquidity Ratio (SLR), the statement adds. The UTI Bonds will be transferable and eligible for market ready forward transaction (repo). The bonds, however, will not be an eligible underlying security for ready forward transactions (repo/reverse repo) with the Reserve Bank of India.
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ICICI Bank Q1 net up 26 per cent
Mumbai: The ICICI Bank Ltd has recorded a 26 per cent rise in net profit at Rs.430.74 crore for the first quarter ended June 30 against a net profit of Rs 340.2 crore in the corresponding previous period. Retail assets grew 62 per cent at Rs 36,583 crore (Rs 22,535 crore). The bank has received approval from the Reserve Bank of India to pay 75 per cent dividend for the year ended March 31, 2004. Total income for the quarter under review dropped to Rs 2,853.49 crore from (Rs 2,938.55 crore), a release said. Total expenditure declined to Rs 2,297.65 crore (Rs 2,434.11 crore), while total deposits increased 24 per cent to Rs 66,780 crore (Rs 53,853 crore). During the period, the bank repaid Rs 1,800 crore of the erstwhile ICICI's liabilities. Non-performing assets constituted 2.7 per cent of customer assets against 4.9 per cent in the corresponding previous period.
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State Bank of Mysore Q1 net at Rs.53 crore
Bangalore: The State Bank of Mysore has earned a net profit of Rs 53 crore in the first quarter of the current financial year, a 17 per cent increase over the corresponding period of last year. Total income for the first quarter was Rs 365.79 crore (Rs 323.49 crore). Total expenditure in the first quarter was Rs 247.74 crore (Rs 229.73 crore). Operating profit in the first quarter went up to Rs 118.05 crore (Rs 94 crore). But provisions for non-performing assets also increased in this quarter to Rs 36.41 crore from Rs 24 crore. The gross NPAs also came down to 7.5 per cent in the first quarter, from 11.08 per cent in the last fiscal.
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