Rupee recovers losses
Mumbai: The rupee recovered most of its losses against the dollar on Thursday on the back of dollar inflows, recovering to close at 45.20, up from Wednesday' s 45.23.

G-secs: The 8.07 12-year 2017 paper closed at Rs106.32 (7.23 per cent YTM), almost unchanged from Wednesday's close of Rs106.31 (7.23 per cent YTM). The 10.25 16-year 2021 paper ended at Rs126.095 (7.39 per cent YTM), unchanged from the previous close.

Call rates: The call rate closed at 5.50/60 per cent (6.25).

Reverse repo: In the first one-day auction, RBI received and accepted two bids amounting to Rs100 crore, and 22 bids for Rs9,160 crore in the repo auction. In the second one-day reverse repo auction, the bank received 10 bids for Rs3,850 crore, and one bid for Rs300 crore.

CBLO: In the CBLO market, there were 345 trades for Rs12,050 crore in the range of 5.25 -6.40 per cent.
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ATMs completely secure: Study
Mumbai: According to an NCR Corporation survey carried out by AC Nielson ORG-MARG, Automated Teller Machines (ATMs), apart from being the most accessed banking channel are also most secure self-service banking channel.

On a scale of 1-5, 77 per cent of those surveyed gave highest security grade to ATMs, second only to branches, to whom 84 per cent of the respondents graded highest security, a NCR release said on Thursday.

The survey covered 12 metros and mini metros with sample size of 2,637 ATM users.

Phone banking was considered highly safe by only 29 per cent respondents while 25 per cent felt Internet banking was highly secure.
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CSB raises Rs. 40 crore through bonds
Thrisur: The Catholic Syrian Bank (CSB) has raised Rs40 crore through bonds to increase its capital adequacy ratio. The bond valued at Rs.10 lakh each was issued at the rate of 8.75 per annum for a period of 100 months, payable semi-annually. The bonds were fully subscribed within minutes of opening the issue on December 20, a release from the bank said.

The bonds were rated by agencies such as Credit Analysis and Research Limited and the Fitch Ratings India Private Limited, the release said.
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Union Bank to issue 4.5cr shares
Mumbai: Public sector bank Union Bank of India will issue, or offer subscription and allotment for 4.5 crore new equity shares of Rs10 each.

The equity shares would have an appropriate premium and would be issued to individuals, companies, foreign institutional investors (FIIs), financial institutions, banks, qualified institutional buyers or other investors, the bank said.
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UBI launches no-frills account
Kolkata: United Bank of India has launched a no-frills account, which requires customers to deposit only Rs10 to open a new account and maintain no minimum balance.

UBI said that such accounts could be opened in any of its 1,315 branches in the country.

The bank said that there would be no service charge for operating the account. The account holder would also get an insurance cover of Rs1.25 lakh by paying Rs13 per year as premium.

The know your customer (KYC) norms would also be relaxed for a no-frills accounts.
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Commercial banks, RRBs increase rural lending in Karnataka
Bangalore: Commercial banks and regional rural banks in Karnataka have provided credit to 3,26,488 new farmers up to Rs1,789 crore.

Syndicate Bank CMD and chairman of the bankers committee, N Kantha Kumar said the banks have disbursed Rs6,744 crore in the first seven months of the current fiscal 2005-06, as against the annual target of Rs9,912 crore.

The banks have sanctioned Rs48.75 crore credit to 858 farmers for taking up horticulture projects under the National Horticulture Board Subsidy scheme, he said.

The banks have extended fresh Kisan Credit Cards to 6,29,013 farmers with credit limit of Rs2,088.32 crore during the first half of the current fiscal, Kumar said.

Under the Annual Credit Plan, banks in Karnataka have disbursed Rs8,652 crore to priority sectors during the first half of this year as against the target of Rs15,026 crore.
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