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Rupee
bounces back
Mumbai:
The rupee bounced back against the dollar on Tuesday,
closed the day higher at 45.89, up from Monday's close
at 45.96/97.
Forwards:
In the forward premia market, the 6-month closed at 0.7
per cent (0.6) and the 12- month at 0.58 per cent (0.5).
G-Secs: The 7.49 per cent-12 year-2017 paper
closed at Rs102.21 (7.20 per cent YTM), up from Monday's
Rs102.11 (7.21 per cent YTM). The 7.40 per cent - 20
year - 2035 paper closed at Rs98.46 (7.53 per cent
YTM).
Call
rates: The call rate was between 5.25 per cent and
5.30 per cent.
Reverse
Repo: In the first one-day reverse repo auction, under
the Liquidity Adjustment Facility, RBI received and accepted
14 bids for Rs4,975 crore. The second auction saw six
trades amounting to Rs570 crore.
CBLO:
There were 222 trades for Rs11,798.35 crore in the
range of 5.12 - 5.35 per cent.
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Saudi
bank selects Finacle
Bangalore:
Infosys said that the Arab National Bank (ANB) had
chosen its core banking solution `Finacle' to power its
aggressive focus on the retail banking market in Saudi
Arabia.
"The
decision of ANB, an existing Finacle customer for e-banking,
to choose Finacle for core banking as well, is a strong
reinforcement of their belief in the partner. This will
further consolidates our position in the Saudi market
and strengthens Finacle's position as the choice of solution
for large banks in the retail and universal banking space
worldwide," the Finacle vice-president and business
head, Merwin Fernandes, said, in a notice to the Bombay
Stock Exchange.
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Centurion
Bank of Punjab registers Rs.21 crore net profit
Mumbai: The Centurion Bank of Punjab has registered
a net profit of Rs20.9 crore for the quarter ended September
30, 2005, against Rs5.26 crore in the corresponding quarter
last year. The bank said the rise in net profit was due
to increase in low cost deposits and other income.
The
bank also plans to raise Rs800 crore through a combination
of a preferential issue and an international or domestic
equity offering, said a press release from the bank.
For
the quarter ended September 30, 2005, total income of
the bank stood at Rs243.89 crore (Rs97.42 crore); net
interest income was Rs94.1 crore (Rs42.94 crore); and
other income was Rs51.68 crore (Rs14.55 crore). Total
expenditure was Rs216.82 crore (92.66 crore).
The
bank is planning to raise Rs384 crore additional capital
through a preferential issue of fresh equity and Rs416
crore through an international or domestic offering.
As
part of the preferential allotment of equity shares, the
bank proposes to allot 70 million fully paid-up equity
shares at a price of Rs19.25 a equity share for Rs135
crore to funds managed by GW Capital and/or its affiliates,
nominees ; 70 million fully paid-up equity shares at a
price of Rs19.25 a equity share for a consideration of
Rs135 crore to funds managed by ChrysCapital ; and up
to 59 million fully paid-up equity shares at a price of
Rs19.25 per equity share for a consideration of Rs114
crore to funds managed by Citigroup Venture Capital International
Growth Partnership Mauritius Ltd .
The
bank will hold an extraordinary general meeting of shareholders
on December 24 to consider this proposal. Ambit Corporate
Finance PTE Ltd and SSKI are the financial advisors to
the above transaction.
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Exim
bank loans US$10mn to Russian bank
Mumbai: Export-Import Bank of India has said it
has extended US$10mn line of credit (LoC) to a mid-sized
Russian bank, Absolut Bank. This is the third LoC of Exim
Bank to Russia.
Under
the agreement, Russia-based importers would make advance
payment of 10 per cent of contract value and the Exim
Bank would provide the remaining 90 per cent credit to
Absolut Bank for a period of up to five years, the bank
said in a release here.
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Nabard
sanctions Rs.133 crore to Karnataka
Bangalore:
The National Bank for Agriculture and Rural Development
(Nabard), has sanctioned Rs133 crore to Karnataka for
taking up rural infrastructure development projects in
the state according to a press release from Nabard.
The bank has released the resources from the Rural Infrastructure
Development Fund (RIDF) XI Tranche to cover construction
of 10 micro-irrigation and 263 road projects, besides
setting up 97 primary health centres in various districts
of the state.
These projects, besides fulfilling primary objectives,
are also expected to generate recurring and non-recurring
employment in the rural areas and reduce migration of
the rural poor, the release added.
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