Rupee eases off as bonds rally
Mumbai: After rising for four consecutive sessions, the rupee ended at 43.96/97 against the dollar, about five paise weaker than previous finish at 43.91/92.

Forwards Market: The six-month annualised premium ended at 2.11 per cent (2.15 per cent) while the one-year premium finished at 1.48 per cent (1.50 per cent).

Call Rates: in the range between 5.10 per cent and 6 per cent.
CBLO Market: Rates were in the range of 5.78 to 6 per cent for bids worth nearly Rs5,300 crore.

G-Secs: The yield on the benchmark 7.38 per cent 2015 paper ended at 6.73 per cent. In the 7.55 per cent 2010 paper, the yield went up to 6.47 per cent towards close.
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RBI to issue new currency notes
Kolkata: The Reserve Bank of India proposes to introduce new currency notes with added security features in early 2005. Newly designed coins, too, will be brought out in the near future.

The apex bank has been examining the feasibility of printing notes bearing extra elements of security, trying to eliminate the possibility of counterfeiting. It is also attempting to dispose soiled notes in a manner that does not harm the environment.

Notes of different denominations have different economic lives and it has stopped printing notes of three denominations: one, two and five. It now prints notes in five other denominations: 10, 20, 50,100 and 1,000.

Some of the new security attributes will have to be compatible with machinery used by the banks, and therefore, new machinery will have to be introduced at the bank end as well.
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ING Vysya Life to hike capital
Thiruvananthapuram: ING Vysya Life Insurance Company is set to increase its capital by Rs35 crore in the coming months.

According to Frank Koster, Managing Director and Chief Executive Officer of ING Vysya Life, the company's capital will be expanded from Rs290 crore currently to Rs325 crore, either by March 2005 or June. He indicated that talks are on with key shareholders - ING Insurance International BV, ING Vysya Bank and GMR group - to work out the modalities of the proposed capital expansion.
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Syndicate Bank public issue soon
Coimbatore: Syndicate Bank is aiming at a total business volume of Rs75,000 crore this fiscal and Rs 1-lakh crore by March 2006, its Chairman and Managing Director, K.M. Shet, said here on Friday.

The bank is gearing up for a second public offering. Shet said that the bank is planning a public offering of Rs50 crore equity shares. It will be at an appropriate premium. The issue is slated for January 2005. Consequent to this offer, the Government holding will come down from the present level of 73.62 per cent by about 6 per cent, Shet said.
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