Rupee forwards go into discount
Mumbai: Annualised forward premia fell sharply on Thursday following the continued slide of the US currency against the Indian rupee. The rupee breached the Rupee 45 levels but weakened slightly towards the close, at 45.0300/0350 against the US dollar, as against its previous close of 45.0650/0750.

Forwards Market: The premium for the first three months went into discount with the one-month annualised premium ending at - 0.07 per cent (1.09 per cent) and the two month premium closing at - 0.40 per cent (1.14 per cent). The six-month forward premium fell by 70 basis points from previous closing level to finish at 0.40 per cent. The twelve-month ended at 0.45 per cent (0.95 per cent).

G-Secs: The 11-year benchmark 7.38 per cent 2015 paper closed at Rs101.40 at a yield of 7.19 per cent. The 7.55 per cent 2010 paper closed at Rs102.88, lower by over 15 paise than previous closing levels.

Call Rates: In a range of 4.75-4.80 per cent.

CBLO Market: 180 trades worth Rs5668.15 crore were transacted in the rate range of 2.00-5.25 per cent.
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Unions satisfied with new wage pact
Chennai: Officers will get an extra Rs3,000 per month on an average, clerks Rs2,000 and the subordinate staff Rs1,000 extra per month, as per the wage settlement signed between the Indian Banks Association and the bank unions.

Bank unions are happy with the wage settlement signed two days ago. The United Forum of Bank Unions said it was satisfied with the accord, with both parties coming down from their initial negotiating positions. While the IBA had begun by offering 8 per cent the unions in turn had started with 30 per cent two years ago, and then had come down to 20 per cent before settling at 13.5 per cent.

The agreement will be valid from November 2002 till October 2007. The earlier settlements (the 6th and 7th), each valid for a period of 5 years had given pay increases of 10.5 per cent and 12.25 per cent respectively.
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SBH launches two schemes
Hyderabad: State Bank of Hyderabad has launched two schemes, namely the Grahak Mitra and Drop Box Migration.
While the Grahak Mitra would help customers to get personal attention to respond to basic enquiries and encourage migration to alternate channels at the branch. The Drop Box Migration will enhance customer satisfaction by providing hassle-free cheque tendering.

The Drop Box would have three separate compartments for outstation, local clearing and payable at the branch cheques and would be accessible round-the-clock, according to a SBH release.
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BRR Leafin licence cancelled
Hyderabad: The RBI has announced that it has cancelled the certificate of registration granted to BRR Leafin Private Ltd, having its registered office at Lumbini Towers, Punjagutta here for carrying on the business of a non-banking financial institution.

Following cancellation of the registration certificate, BRR Leafin cannot transact the business of a non-banking financial institution, the RBI has said in a press release.
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