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Rupee weak - securities dull
Mumbai: The rupee ended at 43.90/91, slighter lower than Friday's close of 43.87/88.

Forwards market: The 12-month premium ended at 0.40 per cent (0.65 per cent) and the 6-month premium closed at 0.50 per cent (0.65 per cent).

G-Secs: The 10.25-16 year-2021 paper closed at Rs126.53 (7.36 per cent) against the earlier level of Rs126.44 (7.38 per cent YTM). The 7.37-9 year-2014 paper closed at Rs102.71 (6.93 per cent), up from the previous level of Rs102.66 (6.95 per cent). The 7.38-10 year-2015 paper was dealt at Rs102.7 (6.99 per cent), against the earlier level of Rs102.40 (7.04 per cent YTM).

Call rates: The inter bank rates opened at 5.10 per cent and closed at 5 per cent (4.95-5.05 per cent).

Reverse repo: In the one-day auction, the RBI received and accepted 35 bids amounting to Rs18,945 crore.

CBLO: 202 trades for Rs8,278.05 crore in the rate range of 4.95-5.25 per cent, were realised.
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Exim Bank raises 364-day loan of US$160mn
Mumbai: The Export-Import Bank of India has raised US$160mn through a club deal at a margin of 15 basis points over Libor.

The bank offered an all-in-yield of 21 basis points over Libor for on-lending towards export credit.

A press release from the bank said that this is the lowest cost resource raised by an Indian borrower for this tenor. This is also the largest single 364-day loan raised by the bank the release said.
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Quarterly schedule for MSS bonds released
New Delhi: The Finance Ministry on Monday released a quarterly indicative schedule for the issuance of treasury bills/dated securities under the Market Stabilisation Scheme (MSS) covering the period from October 1 to December 31, 2005.

The indicative schedule has been drawn up in consultation with the Reserve Bank of India.

An official release said that the issuance of treasury bills under the MSS would be undertaken by increasing the notified amounts for the regular auctions of 91-day, 182-day and 364-day treasury bills. Thus, the issuances under MSS, as covered by the latest quarterly indicative schedule, would be in addition to the regular issuances of treasury bills and dated securities.

The Finance Ministry also said that the latest indicative schedule was subject to variations depending on market conditions and other relevant factors. In addition to the proposed issuances indicated in the schedule, there could also be additional issuances of treasury bills and dated securities based on the prevailing liquidity conditions and other relevant factors.
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Federal Bank declares 25 per cent dividend
Kochi: The Federal Bank has declared a 25-per cent dividend for 2004-05.

The capital base of the bank has grown from Rs21.76 crore to Rs65.60 crore as a result of the bonus issue at 2:1 declared last year. After providing for a one-time depreciation of Rs69.97 crore towards SLR (statutory liquidity ratio) securities from the `available for sale' to `held-to-maturity' category, the bank has nevertheless registered a net profit of Rs90.09 crore during last year.

Its NPA as a percentage of advances declined to 2.21 per cent (2.89 per cent).

The bank's priority sector advances, which accounted for 40 per cent of the bank's net credit, grew by 28 per cent to Rs3,193 crore (Rs2,493 crore). The outstanding agricultural credit increased by 37 per cent to Rs684 crore (Rs500 crore), while advances to the small-scale sector grew by 19 per cent to Rs861 crore (Rs722 crore).

The Federal Bank has also become the first bank in the country to extend real time gross settlement for its customers across all its branches. During the year, the bank introduced electronic bills presentation and payment systems and also joined hands with the Indian Railway Catering and Tourism Corporation Ltd for providing customers with railway ticket reservation through the Internet.

To meet envisaged capital requirements, the bank has also initiated steps to raise additional capital through global depository receipts.
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