Rupee and securities weaken
Mumbai: The rupee ended at 45.0650/0750 against the dollar on Tuesday, weaker than its previous closing at 45.0350/0450.

Forwards Market: The six-month forward finished at 1.36 per cent (1.40 per cent), while the twelve-month forward ended at 1.16 per cent (1.15 per cent).

G-Secs: Selling pressure across the board led to a fall of 25 paise to 50 paise in bond prices.

Call Rates: At 4.75 per cent to 5 per cent levels.

CBLO market: 147 trades worth Rs5,717.55 crore were transacted in the rate range of 4-5.50 per cent.
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Bank employees salaries to be hiked
Mumbai: The government has agreed to a 13.25 per cent hike in the salaries of bank employees, aggregating a payout of about Rs2,200 crore.

Indian Bank Association and United Forum of Banks Unions (UFBU) today signed a wage settlement accord in this regard.

The move will affect over 10 lakh employees, including officers of the nationalised banks.

The wage settlement would be valid for five years beginning November 2002. The bank unions had threatened to go on a strike during the winter session of Parliament over the wage issue.
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Lord Krishna Bank to automate fully
Kochi: The Lord Krishna Bank plans to fully automate all its branches with modern technologies.

The bank, which had its beginnings in Kodungallur in Kerala and which is today spread across 11 States and Union Territories through 111 branches, celebrated its 64 years of existence on Monday.

The bank has played a vital role in the economic scenario of Kerala, having 69 of the 111 branches located in the state.
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