Rupee firms up; bonds decline
Mumbai: The domestic currency strengthened for the third session in a row to close at 46.20/21 on Thrsday against the dollar, up 10 paise from the previous close at 46.30/31.
Forwards Market: The six-month forward closed at 2.78 per cent (2.80 per cent) while the twelve-month forward ended at 2.46 per cent (2.45 per cent).
G-Secs: Bond prices fell by about a rupee. The yield on the 10-year benchmark 7.37 per cent 2014 paper rose to 6.64 per cent. The 11-year benchmark 7.38 per cent 2015 paper fell 80 paise to close at Rs.105.10.
Call rates: After rising to 5.60-6 per cent during the day, eased off towards the end of the day to 4.80 per cent
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RBI transfer dividend to GOI
Mumbai: The Reserve Bank Board has, in its meeting held today, decided to transfer a dividend of Rs.5, 400 crore to the Government of India out of its surplus profit for the year ended June 30, an RBI spokeperson confirmed in a release issued on Thursday.
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RBI cancels Bellampalli co-op bank's licence
Hyderabad: The Reserve Bank of India has cancelled the licence of the Bellampalli Co-operative Urban Bank Ltd located at Bellampalli in Andhra Pradesh to carry on banking business. In a press release, the RBI said the co-operative urban bank was precluded from transacting the business of 'banking' as defined in the Banking Regulation Act, 1949 (as applicable to Co-operative Societies). The Bellampalli bank was prohibited from accepting deposits from public and allow withdrawals by cheque, draft, order or otherwise.

The RBI has cancelled the licence under Section 22 of the Banking regulation Act, 1949 (as applicable to Co-operative Societies), the release said.
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