Rupee holds steady - Bonds make up
Mumbai: The domestic currency ended at 43.48/49 per dollar on Monday, almost unchanged from its previous closing levels on Saturday, at 43.47/48.
Forwards Market: The six-month premium ended at 1.69 per cent (1.72 per cent) and the one-year premium ended at 1.30 per cent (1.31 per cent).

G-Secs: The benchmark 10-year paper, the 7.38 per cent 2015 paper closed at Rs106.40 (6.53 per cent yield to maturity) against its earlier closing at Rs105.30 (6.67 per cent YTM) on Saturday. The 9.39 per cent 2011 paper closed at Rs 115.35 (6.45 per cent YTM) against its previous closing at Rs114.05 (6.69 per cent YTM).

Call Rates: Easy between 4.75 per cent and 4.80 per cent levels in the inter-bank market.

CBLO Market: 139 trades were conducted clocking volumes of Rs4,160.85 crore in the rate range of 2 per cent to 5.80 per cent.
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Canara Bank launches interactive video conferencing
Bangalore: Canara Bank has launched multi-point interactive video conferencing as a means to review the performances of its circles from its headquarters in Bangalore.

The bank plans to utilise the video conferencing for enterprise communications, interaction between the Head Office and the circle offices. This would result in considerable savings in expenses incurred on corporate meetings and save time of executives.

The bank has already computerised all the 2,056 branches and networked 1,135 branches and offices. It also hopes to add 615 branches or offices by March 2005.
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Centurion Bank shareholders okay changes to clause
Chennai: The Centurion Bank has received shareholders' approval for altering the "objects" clause in its Memorandum of Association.

The alteration involved the inclusion of "bancassurance" among the businesses being done by the bank. The Insurance Regulatory and Development Authority has asked banks to incorporate this in their "objects" clause, if they are engaged in the business of insurance, either as principal or as corporate agent.

The shareholders' approval was received by postal ballot. Shareholders also granted approval to the grant of stock options to employees.
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OBC files complaints against five GTB borrowers
New Delhi: The Oriental Bank of Commerce has filed criminal complaints with the Central Bureau of Investigation against five borrower accounts of the erstwhile Global Trust Bank for having caused "wrongful loss" to the bank.

Global Trust Bank (GTB) was merged with Oriental Bank of Commerce (OBC) in 2004.

Complaints have been filed against Unitel Software Ltd, Ashok Advani of Business India publications, Petro Energy Products Co Ltd, Shonk Technologies International Ltd and Pearl Distillers Ltd.

A Finance Ministry statement on the complaints filed by OBC said that some other cases were being examined and further complaints would be lodged with the CBI in due course.

OBC's move comes days after the Finance Minister, Mr P. Chidambaram, assured Parliament during the recently-concluded winter session that criminal cases would be filed in matters relating to GTB shortly.
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Shonkh Technologies denies any wrong doing in dealings with GTB
New Delhi: Shonkh Technologies, which figures in the list of those companies against which Oriental Bank of Commerce has filed a criminal complaint, today denied that it had siphoned funds of the erstwhile Global Trust Bank(GTB) as has been alleged.

"The company had availed of some financial assistance from the erstwhile Global Trust Bank which is a subject matter of dispute.

Erstwhile GTB (now Oriental Bank of Commerce) has already filed a suit for the recovery of the disputed amount with the Debt Recovery Tribunal, Bangalore. The matter is subjudice and there is no criminality involved in it," a statement issued by spokesperson of Shonkh Technologies International Ltd said. The statement also said that so far it has not received any such notice from the authorities concerned.
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