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Rupee and bonds firm up
Mumbai: The rupee was up for the second consecutive day on Thursday on good supplies closing at 45.71 against Wednesday's close of 45.76.

Forwards: The forward premia market edged up higher with the six-month premium closing at 0.7 per cent (0.55 per cent) and the one-year at 0.50-0.52 per cent (0.45 per cent).

G-Secs: According to dealers the cut-off price of the Rs5,000-crore auction of the 8.35 17-year 2022 Government paper was better than expected. The cut-off price of the paper was Rs108.65 (7.43 per cent YTM). The 7.49 per cent -12 year-2017 paper closed at Rs102.41 (7.175 per cent YTM), up from Wednesday's Rs102.25 (7.19 per cent YTM). The 10.25 per cent - 16 year-2021 ended at Rs126.13 (7.39 per cent YTM), up from Wednesday's close at Rs125.72 (7.42 per cent YTM).

Call rates: The call rate closed at 5.25-5.30 per cent (5.25-5.30).

Reverse Repo: In the one-day reverse repo auction, under the Liquidity Adjustment Facility, the RBI received and accepted 23 bids for Rs8,215 crore.

CBLO: There were 274 trades for Rs13,325.50 crore in the range of 5.24-5.50 per cent.
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RBI cautions Indian banks
Mumbai: The Reserve Bank of India has cautioned Indian banks that they could face higher market risk due to global financial imbalances and volatility in oil prices.

In a report the RBI said, while the credit risk environment is expected to continue to be benign in the near future, it can "turn adverse through a deterioration in the market risk environment."

Global financial imbalances continue to grow, with the US current account deficit now ruling above 6 per cent of its GDP. There is a risk of currency re-adjustments that could cause heightened volatility in the financial markets through changes in exchange rate and interest rate the report said.
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BoB extends biz hours in TN
Coimbatore: The Bank of Baroda (BoB) Tamil Nadu region, is extending its business hours and expanding its network. Select branches of BoB have started offering 8 to 8 banking facility. Out of the 75 branches in this region, seven are operating at these timing and five more would become operational soon.

BoB has 12 ATMs in this region. Two more are on the cards.

Seventeen branches of BoB offer the Internet and mobile banking service in the region to its customers. The facility would enable the customers to view and download their accounts, make a requisition for a chequebook and have it delivered at the doorstep free-of-cost.

The bank recently introduced the branch within a branch concept by devising the `Baroda Money Plex' outfit to have a more focussed approach in serving customers.
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PNB opens exchange bureau in Bangalore
Bangalore: The Punjab National Bank (PNB) has opened an exchange bureau in Bangalore and intends to follow up with one such office in Chennai.

The exchange bureau would facilitate money changing through purchase and sale of foreign currency notes and travellers cheques from tourists and residents. It would also release foreign currency for current account purposes, including travel, medical expenses, business and personal visits abroad.

The bureau would also facilitate cash withdrawal from the banks' automatic teller machines against international credit/debt cards, the release added.
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Retail investors to get a discount in ICICI Bank public issue
Mumbai: The ICICI Bank is offering shares to domestic retail investors, (investing a maximum of Rs1 lakh) a five per cent discount to the issue price in its public issue opening on December 1.

The total size of the issue is Rs8,050 crore, which includes the domestic issue of Rs5,000 crore, a greenshoe option of Rs750 crore and an American depository share (ADS) issue of Rs2,300 crore (including a Rs300-crore greenshoe option). The ADS issue will also include a public offering without listing in Japan. The price band for the book-building issue will be announced a day before the issue.

The bank has reserved up to five per cent of the issue for existing retail shareholders (whose holding does not exceed Rs1 lakh based on the closing price on the NSE on November 25.)
The lead book runners for the issue are JM Morgan Stanley and DSP Merrill Lynch.

Retail investors have the option to pay Rs150 per share on application with the balance payable on allotment. The last time the bank came out with a public issue was in April 2004 when it raised over Rs3,400 crore at a price of Rs280 per share.

The shares of ICICI Bank closed on Thursday at Rs538.50 on the BSE, up two per cent from the previous close of Rs527.95.
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IDBI Capital launches online investment portal
Kolkata: IDBI Capital Market Services, a complete subsidiary of the Industrial Development Bank of India, has launched 'idbipaisabuilder.in' - an online investment portal where investors can access trade related information along with analytic tools to facilitate transaction even during peak hours.

The portal has tied up with news-vendors such as Reuters, Business Standard, and Moneycontrol.com to provide up-to-date information.

Arrangements had also been made with CMIE and MyIris for obtaining corporate data and company-specific fundamental analysis, he said. The portal allows investments online in equities, mutual funds, and IPOs.

IDBI Capital, which also manages Rs32,000 crore in pension and PF funds, is also planning to set up an asset management company along with its parent IDBI and a third partner.
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HSBC opens facilty at Hyderabad
Hyderabad: The Hong Kong and Shanghai Banking Corporation (HSBC) has opened a global resourcing facility in the city. The facility will act as a Centre of Excellence for credit, mortage and other general transcations.

The facility has a residential training centre, which would also offer training to HSBC staff from Sri Lanka, China, Malaysia and other countries.

The centre would also offer training in English to non-HSBC staffers and poor people on a limited scale. The 2,50,000 sft facility can accomodate over 3,500 professionals with residential facility for 400 trainers.

HSBC India headcount now stands at 10,000. It has two centres in Hyderabad, one each in Visakhapatnam, Bangalore and Kolkata.
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HDFC may hike corporate lending rates
Mumbai: Housing Development Finance Corporation (HDFC) has said that it was considering hiking corporate lending rates but said it would not hike the interest rate on retail loans.

The bank has also launched the HDFC bank corporate credit card Mastercard in association with Mastercard International.

HDFC had increased deposit rates earlier this month.
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