Rupee down
Mumbai: The rupee slipped by 13 paise on Monday over Friday's close due to a rising dollar. The dollar gained against all global currencies, especially the yen, after North Korea successfully completed a nuclear test, said dealers. The rupee opened at 45.68 and touched a low of 45.75 and ended at 45.72/73 against Friday's close of 45.59.

Forward premia ruled dull, with the six-month closing at 1.36 per cent (1.32 per cent) and the one-year closing at 1.36 per cent (1.36 per cent).

Bonds: Bond prices dropped. Traded volumes on the order-matching system were Rs2,710 crore (Rs 3,280 crore). Late in the day, there was buying in long-dated securities whose prices had dropped earlier.

G-secs: The 7.59-per cent 10-year 2006 benchmark paper opened at Rs99.58 (7.65 per cent YTM) and ended at Rs99.67 (7.64 per cent YTM), down from Friday's close of Rs99.95 (7.60 per cent YTM).

The 8.07-per cent 11-year 2017 paper ruled flat at Rs102.65 (7.69 per cent YTM) against Friday's Rs102.97 (7.64 per cent YTM).

Call rates: Call rates were between 6.35 and 6.45 per cent against 6.4-6.5 per cent.

Reverse repo: In the first one-day reverse repo auction under LAF, the RBI received and accepted seven bids amounting to Rs. 17,100 crore and in the second one-day reverse repo auction, 14 bids for Rs 12,065 crore.

CBLO: The CBLO market saw 286 trades aggregating to Rs 16,161.40 crore in the 6.00-6.20 per cent range.
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Rabo India to infuse Rs145 crore into finance arm
Mumbai: Rabo India Finance is infusing Rs145 crore into its finance arm to support its business growth for the next 12-18 months. This capital infusion will increase the capital funds from
Rs427.93 crore (as on March 31, 2006) to Rs578.51 crore (includes reserves and provisions) said a company press release.

The 100 per cent subsidiary of Rabobank International will have a capital adequacy ratio of 15.63 per cent from 12.51 per cent after capital infusion. The company said the capital will facilitate an increase in its business and allow it to offer greater product and service opportunities to clients.

The non-banking finance company (NBFC) focuses on fund-based and investment banking services to food and agribusiness, telecom, media, information technology and life sciences sectors.
The company had a gross loan portfolio of Rs3,135 crore as on March 31, 2006.

The gross non-performing assets were 2.14 per cent at end of March 2006, down from 4.7 per cent a year ago due to recoveries and prevention of slippages during the year.

RIF had reported a net profit of Rs52 crore in 2005-06 against Rs 23.7 crore in 2004-05. Its net profit for the first quarter ended June 30, 2006 was Rs70 lakh.
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HSBC launches seamless banking in India, UAE
Mumbai: HSBC has launched seamless banking in India and the United Arab Emirates (UAE) with the 'OneWorld' package, The package is a joint banking proposition by HSBC Bank Middle East and HSBC India, and offers the facility of opening accounts in India when in the UAE and vice versa.

NRI customers based in the UAE will be HSBC's primary target customers. The OneWorld package will also combine on a single platform HSBC's wealth management offerings for investments in India and global products, as well as provide 'free' money transfers at competitive exchange rates across the UAE and India through both the routes — cheques and internet banking.

Customers banking with both HSBC Bank Middle East and HSBC India will be able to transfer monies in dirhams from their accounts with HSBC Bank Middle East, UAE, to their NRI (non-resident Indian) accounts held with HSBC India, in a speedy and convenient manner.
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