Rupee declines
Mumbai: The rupee depreciated against the dollar on Friday due to oil related demand for dollars. The rupee opened at 45.12/1250 and touched an intra-day low of 45.15. It closed the day at 45.1450, down from 45.09/10 on Tuesday. Globally, all major currencies have been range-bound and dealers are awaiting some sort of direction to emerge before taking positions.

Forwards--In the forward premia market, the six-month closed at the same level of 0.99 per cent and the 12-month closed at 1.05 (1.03).

Bonds: In the bond market, prices inched up due to the increased liquidity in the system.

G-Secs: The 9.39 per cent-5 year-2011 paper opened at Rs 110.35 (6.97 per cent YTM) and closed at Rs110.43 (6.95 per cent YTM), up from Thursday's Rs110.31 (6.99 per cent YTM. The 8.07-12 year-2017 paper opened at Rs104.55 (7.44 per cent YTM) and closed at Rs104.89 (7.39 per cent YTM), higher than Rs104.66 (7.43 per cent YTM) on Thursday.

Call rates: The call rate was unchanged at 5.5/5.6 per cent.

Repo auction: In the three-day reverse repo auction under LAF, the RBI received and accepted 34 bids amounting to Rs 27,670 crore in the first auction and 31 bids for Rs34,405 crore in the second. There were no repo bids.

CLBO: The CBLO market saw 358 trades, aggregating to Rs22,936.75 crore in the rate range of 4.90-5.35 per cent.
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IDBI net at Rs.201-cr in Q4
Mumbai: IDBI has posted net profit of Rs201 crore for the quarter ended March 31, 2006, and Rs561 crore (Rs307 crore) for fiscal 2005-06. The bank says the results are not comparable with the results of the corresponding quarter last year as IDBI Bank was merged with IDBI in April 2005.

The growth in profit was mainly due to significant recovery of non-performing assets and the reduction in cost of funds. The bank's board has announced a dividend of Rs1.5 per share.

For the fourth quarter, the bank had a total income of Rs1,944.16 crore. Net interest income was Rs334.91 crore. Other income was Rs370.29 crore.

For the full year, total income was Rs6,661.17 crore. Net interest income (NII) was Rs379.9 crore. Other income was Rs1,280.45 crore.

The proportion of NPAs to total assets fell to 1.01 per cent (1.74 per cent). The bank recovered a total of Rs1,738 crore, out of which Rs1,066 crore was from fully written off assets.

The bank opened 171 branches in 2005-06 against its target of 200 and is planning to recruit more personnel for its branch expansion programme in 2006-07.
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Centurion Bank of Punjab hikes deposit rates
Mumbai: Centurion Bank of Punjab has raised interest rates of domestic term deposits for various maturities with immediate effect. The revised rate on domestic term deposits of Rs15 lakh, for a period of five years and above is 8 per cent (7 per cent). For senior citizens the rate is 8.75 per cent (8 per cent).
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IndusInd in alliance with Abu Dhabi bank
Kochi: IndusInd Bank has entered into an alliance with Union National Bank of Abu Dhabi, whereby IndusInd desks will be opened in all the 37 UNB branches spread across Abu Dhabi, Dubai and the other emirates, as well as in Qatar, Bahrain and Oman.

According to company officials, "The strategic alliance will encompass a wide range of banking services, including deposit accounts, remittance business, loans, wealth management advisory, distribution of third party products, trade finance, global banking and investment banking, including corporate finance, mainly to NRI clients. Both banks will treat each other as preferred partners with reciprocity of business flows and promotion of each other's banking services."

IndusInd Bank is expected to announce a similar tie-up with another foreign bank in the same region, in the next three to four weeks.
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