Rupee closes at same levels - securities trade flat
Mumbai: The rupee closed at 43.79-43.80 against the dollar on Thursday, as against its previous close at 43.80 levels.

Forwards Market: The six-month forward closed firmer at 2.35 per cent (2.28 per cent), and the one-year paper at 1.93 per cent (1.88 per cent).

G-Secs: The benchmark 7.38 per cent paper closed flat at 6.76 per cent after trading in a tight 4-5 paise band.

Call Rates: closed at 4.75-4.85 per cent as against the previous close of 4.65-4.80 per cent.

CBLO market: 131 bids accounting for a volume of Rs 5,248.90 crore were put through in the range of 4.61-4.90 per cent.
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IOB board to form subsidiary for financial services
Chennai: Indian Overseas Bank's board of directors has approved the formation of a subsidiary company for providing financial services. The bank has said that the subsidiary would focus on stock broking which it says is a growing area.

The bank has indicated that eventually some activities handled by IOB, such as selling insurance products, mutual funds products and depository participant services, could be brought under the new subsidiary.

The capital structure of the subsidiary is yet to be finalised.
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Vijaya Bank Q3 net down 49 per cent
Bangalore: Vijaya Bank's third quarter net profit has fallen by 49.4 per cent to Rs55.6 crore from Rs110 crore in the quarter ending December 2004.

The Bangalore-based bank's Q3 income was down 2.4 per cent to Rs612 crore from Rs627 crore in the October-December period a year ago.

Vijaya Bank has made a bad loan provision of Rs38 crore in the quarter under review compared to a provision of Rs23 crore in Q3 in the previous fiscal.
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