Rupee slips and G-Secs drop
Mumbai: The rupee closed marginally weaker at Rs.46.3650/37 against the dollar on Monday, as against Friday's closing at Rs.46.30.
Forwards Market: The six-month premium ending at 2.45 per cent (2.48 per cent) and the premium for one year ending at 2.08 per cent (2.16 per cent).
G-Secs: Bond prices lost close to a rupee across maturities. The 7.38 per cent 2015 dropped to Rs.108.75, while the 10 year benchmark, the 7.37 per cent 2014 paper closed lower at Rs.108.65, with a yield to maturity at 6.14 per cent (6.05 per cent during opening levels).
Call Rates: In the range between 4.25 per cent and 4.50 per cent levels.
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SBI hikes fixed home loan rates
Mumbai: The State Bank of India, on Monday has announced a 25 to 50 basis points hike in its fixed home loan rates with immediate effect.

The floating rates remain unchanged for now. The bank said it was done to stabilise the home loan market. According to the revised rates, housing loans with a maturity of up to five years will now cost 8 per cent as against the existing 7.75 per cent. For loans with a maturity of 5-15 years, the new rate is 8.75 per cent (8.25 per cent) and for 15-20 years the new rate is 9 per cent (8.50 per cent).

The bank has decided to extend a `one-time' option to its home loan borrowers, of making a switch over from their present floating rate loans to fixed rate loans, subject to a one-time payment of a 2.75 per cent fee.
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State Bank of Travancore revises FCNR rates
Thiruvananthapuram: The State Bank of Travancore (SBT) has announced new interest rates for FCNR deposits in US dollars, pound sterling and euro for periods ranging from one to three years. The new rates would come into being from Monday (August 30).

The new rate for US dollar deposits are 2.05 per cent for one year to less than two years, 2.62 per cent for two years to less than three years, and 3.05 per cent for three years. The rates for pound sterling deposits are 4.99 per cent, 4.98 per cent and 5.03 per cent respectively, while those for euro deposits are 2.04 per cent, 2.42 per cent and 2.74 per cent.
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Syndicate Bank to raise Rs.250 crore bond issue
Bangalore: The public sector Syndicate Bank is planning to raise Rs.250 crore for strengthening its Tier Two capital preparatory for the credit expansion during the peak season beginning next month. The bank said that the pricing of the bond issue was not yet decided and would be finalised sometime next month.

In the first quarter of this year, the bank has done 41 per cent more business than the corresponding period of the last financial year. Net profits also showed considerable improvement during the period from Rs.79 crore to Rs.125 crore.
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