Money market: Rupee ends higher - G-secs weak
Mumbai: The rupee gained about six paise on Monday to close at 43.76 per dollar compared to the Friday close of 43.8250/8300. Purchases from public sector banks left the rupee at 43.76 levels at the finish after its strong start in the morning.

Forwards Market: The six-month forward closed at 1.66 per cent and the 1-year paper at 1.40 per cent.

G-Secs: The benchmark 7.38 per cent paper closed at 6.49 per cent after opening at 6.46 per cent. It had closed the previous week at 6.45 per cent levels.

CBLO market: 117 trades were put through for an aggregate of Rs3,524.90 crore in the rate range of 4.60-4.85 per cent.
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ABN-Amro Bank launches branch expansion drive
Pune: ABN-Amro Bank is all set to go on a branch expansion drive and increase the number of branches across the country to thirty by September. The bank will position itself at "pioneering locations'' and target evolving export hubs coming up in various parts of the country by way of increasing its penetration. The bank's growth plans will see it breaking away from a metro focus to tier two cities and towns.

The bank has in mind locations such as Panipat, an export hub for home furnishings, Tirupur, which is well known for its hosiery, and Muradabad.

The bank intends to structure export financing and facilitate business for the exporter at such locations by managing risks and provide products built around specific industry requirements. Besides increasing its presence in places where it already has branches, the bank is now gearing up for branches in places such as Mangalore.

The bank's experience in Pune, which was otherwise perceived to be a non-metro with modest prospects, has fuelled its interest in tier two centres. Twenty per cent of the bank's corporate banking business comes from Pune.

ABN-Amro is also drawing up plans to increase the scope of its micro-lending programme for women in rural India where it works with a number of Dutch NGOs working with women's groups. The bank, which has already covered an estimated 70,000 women, has disbursed Rs35 crore and now plans to increase the number to cover a million women over the next four years.
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