Rupee firms up
Mumbai: The rupee firmed up against the dollar on Wednesday closing at 46.3550/3650 against Tuesday's level of 46.39.

Forwards Market: The six-month forward closed at 2.55 per cent (2.40 per cent) while the twelve-month closed at 2.06 per cent (1.95 per cent).

G-Secs: The yield on the 11-year benchmark 7.38 per cent 2015 paper, eased to 6.27 per cent from Tuesday's 6.35 per cent. The 10-year benchmark 7.37 per cent 2014 paper had its yield coming down by 8 basis points to 6.15 per cent from Tuesday's 6.23 per cent.

Call rates: At 6.25 per cent.
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GTB puts off board meet to August 9
Hyderabad: The Global Trust Bank (GTB) has announced that its board meeting, earlier scheduled for Wednesday, has now been postponed to August 9. The meeting is for taking on record the audited financial results of the bank for the year ended March 2004.
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Govt. to auction floating rate bonds of Rs.6, 000 crore
Mumbai: The Government of India has announced the sale of Floating Rate Bonds, 2015 (II), for an aggregate amount of Rs.6, 000 crore. The auction will be held on August 9.

It also announced the sale of a new 30-year stock for a notified amount of Rs.2,000 crore through a yield-based auction using uniform price method, according to an RBI press release.

The floating rate bonds will be of 11-year tenure and will be issued at par.

The interest rate on the bonds will be calculated by adding a 'spread' to a variable base rate. The 'spread' will be decided in the auction to be conducted by the Reserve Bank of India and will remain unchanged during the currency of the bonds.

The results of the auction will be announced on August 9.
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T-bills auction fully subscribed
Mumbai: The 91-day Treasury Bill auction conducted by the RBI on August 4 for Rs.2, 000 crore was fully subscribed.

The weighted average price was the same as the cut-off price of Rs.98.89. Fifty-seven bids were received for an aggregate amount of Rs.5, 973 crore. 36 bids worth Rs.2, 000 crore were accepted.

In the 364-day Bill auction for a notified amount of Rs.2, 000 crore, 56 bids worth Rs.3, 325 crore were received. Of these, 32 were accepted at the cut-off price of Rs.95.58.
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Bank Muscat will subscribe to Centurion Banks rights issue
Mumbai: Bank Muscat will subscribe to 75 million shares in the forthcoming Centurion Bank rights issue making an investment worth Rs.30 crore.

Shareholders will be offered shares at the rate of Rs.4 per share constituting a premium of Rs.3 on a face value of Re.1 per share.

Last year, Bank Muscat had taken a strategic stake in the bank.
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SBI staff to strike on August 9
Bangalore: The State Bank of India Staff Federation has given a strike notice for August 9, protesting against the outsourcing of some of the work.

A union release said here that the strike was also to oppose the withdrawal of the non-contributory provident fund and contributory pension schemes.
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