Money market: Rupee firms up - bonds flat
Mumbai: The rupee closed at 43.81/82 levels against the dollar on Monday, a shade firmer than its previous close at 43.84/85.

Forwards Market: Trades were in a narrow range. The six-month forward closed at 1.73 per cent as against 1.69 per cent on Friday and the 12-month forward at 1.46 per cent (1.46 per cent).

G-Secs: The 10-year benchmark paper opened at Rs106.53/58 levels or a yield to maturity of 6.50 per cent, closing at Rs106.57/59 levels.

Call rate: The money market closed almost flat at 4.70.4.75 levels.

CBLO market: 143 trades aggregating Rs7,047 crore was put through in the rate range of 4.5-4.8 per cent.
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ICICI Bank to float bonds for Rs400 crore
Mumbai: ICICI Bank will launch its second public offer of unsecured redeemable bonds, by way of debentures aggregating Rs400 crore, with a right to retain oversubscription of up to Rs400 crore.

The issue will open for subscription on February 28 and close on March 9.

The issue offers various options under three types - Tax Saving Bond, Regular Income Bond and Children Growth Bond.

The Tax Saving Bond comes with two options, each with an issue price of Rs5,000 and redemption period of 5 years. Under the first option, the face value of the bond is Rs5,000, with an interest rate of 6 per cent. The second option is a deep discount bond with a face value of Rs6,700 (yield to maturity of 9.6 per cent).
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SBI to roll out core banking operations
Mumbai: The State Bank of India intends to shift about 85 per cent of its total business transactions to its core banking solution (CBS) by the end of next fiscal.

SBI would roll out the core banking solution platform in 1,000 branches by March this year and would continue to extend the core banking operations to other branches and its associate banking entities.
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Allianz Capital to change name
New Delhi: Allianz Capital & Management Service Ltd has informed the BSE that its board has decided to change the name of the company from ''Allianz Capital & Management Services Ltd'' to ''Almondz Stock Holdings Ltd''. The board also decided to convene an Extraordinary General Meeting on March 19 to get the approval of the members of the company for the change of name, it added.
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Union Bank and Bajaj Allianz tie up for sale of insurance
Kolkata: The United Bank of India has tied-up with Bajaj Allianz General Insurance Co Ltd, for selling the latter's general insurance products.

UBI is also planning to open fourteen new branches in various parts of the country. The strength of its branch network currently stands at 1308, the bank has said in a statement.

A bank spokesperson said that almost 87 per cent of its branches were currently in the eastern and north-eastern parts of the country.

Of the planned new branches, four would be opened in Kolkata, one at Hardwar, two in New Delhi and one each in Tamil Nadu, Kerala, Itanagar, Pathankot, Dharamshala in Himachal Pradesh and one at Sankrail in West Bengal.
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