Rupee unchanged
Mumbai: The rupee opened at 45.96/98 and appreciated to 45.94 during the day but fell later to close at 46.06/07 remaining almost unchanged. On Friday, the rupee ended at 46.05. Dealers said that there was a strong demand for dollars from several domestic oil companies which affected the domestic currency.

Forwards: In the forward premia market, the six-month closed at 0.97 per cent (1.1 per cent) and the 12-month at 1.12 per cent (1.22 per cent).

Bonds: In the bond market, traded volumes were low at around Rs150 crore. Dealers said the market continued to be bearish and there was very little buying interest for the 10-year benchmark paper, with prices having fallen from the issue price of Rs100 to Rs96.3.

G-secs: The 9.39 per cent-5 year-2011 paper opened at Rs107.02 (7.67 per cent YTM) and closed at Rs106.88 (7.70 per cent YTM). The 7.37 per cent-8 year-2014 paper opened at Rs96.28 (8.01 per cent YTM) and ended at Rs96.15 (8.04 per cent), almost unchanged from Friday's close at Rs96.1 (8.05 per cent YTM).

Call rates: Call rates remained unchanged between 5.75 per cent and 5.85 per cent.

Reverse repo: In the first one-day reverse repo auction under LAF, the Reserve Bank of India received and accepted 25 bids amounting to Rs27,085 crore and in the second one-day reverse repo auction, 44 bids for Rs27,530 crore.

CBLO: The CBLO market saw 312 trades aggregating to Rs17,838.55 crore in the 5.15 - 5.84 per cent range.
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SBI offers new deposit scheme
Chennai: SBI has introduced the Super Saver Term Deposit Scheme, with a tenure of 6-10 years, offering a rate of interest of 7.5 per cent and eight per cent for senior citizens. SBI officials said that they expect good response since other comparable bank deposits offer only seven per cent. They added that the scheme would attract people who might have otherwise locked up their money in post office savings schemes and other tax-saving schemes. With greater focus on project finance, the bank would need long-term funds, they added.
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Centurion Bank to open more branches
Mumbai: Centurion Bank of Punjab plans to open eight new branches and will offer wealth management products, like life and general insurance, through its partners and select mutual funds, apart from a range of services.

The branches would be set up in New Delhi, Mumbai, Solan (Himachal Pradesh) and Pune. With this, Centurion Bank of Punjab will have 249 branches across the country.
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Corpn Bank to set up more branches, ATMs
Mangalore: Corporation Bank plans to increase the number of branches to 1,000 from the current level of 840 in the next 16 months. The bank also plans to add around 100 new ATMs by March 2007. The bank opened its 905th online ATM at Kuthethur branch at MRPL (Mangalore Refinery and Petrochemicals Ltd) Township on Monday.

B. Sambamurthy, chairman and managing director, Corporation Bank the bank proposed to cover all feasible branches under core banking facility during the next one year. At present, 568 branches of the bank are under the core-banking network, covering 88 per cent of the bank's business. The bank has finalised a medium-term plan of reaching a total business level of Rs 1 lakh crore by March 2009. The bank has set a target of Rs70,000 crore for the current fiscal.
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`Housing loans rates set to rise: Parekh
Mumbai: According to Deepak Parekh, chairman, Housing Development Finance Corporation, "Following the hike in global interest rates, pressure will be on for Indian interest rates to move northwards,' he told reporters at the sidelines of a press conference. "It is the investor community for whom the rising interest rates are a real concern. The number of trades in real estate and properties has gone down since there is no revenue generated for them," he said.

He said property rates should come down by 20 per cent in the next six months and the interest rates will increase in the future.

He added that the mills sale in Mumbai will be a factor in the real estate prices coming down on account of increased availability of land in the markets.
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