Rupee declines marginally
Mumbai: The rupee fell by around 10 paise against the dollar on the back of dollar buying. The rupee opened at 44.82/85 and touched an intra-day high of 44.73/73 to finally close at 44.83/85 against 44.72/73 on Friday last week.

Forwards: In forwards, the 6 month closed at 2.68 per cent (2.20) and the 12 month ended at 2.42 per cent (2.05).

Bonds: Bond yields rose by almost 13 basis points following the hike in Cash Reserve Ratio by 50 basis points. Dealers said the fall in prices has been the strongest in almost a year. Total traded volumes on NDS-order matching system were at Rs3,815 crore (Rs2,780 crore). Trading is expected to be cautious this week.

G-secs: The 7.59 per cent-10-year-2016 paper opened at Rs101.60 (7.50 per cent YTM) and closed at Rs100.36 (7.53 per cent YTM) against the previous close of Rs101.33 (7.39 per cent YTM) on Friday. The 8.07-11 year-2017 paper opened at Rs104 (7.50 per cent YTM) and ended at Rs103.7 (7.54 per cent YTM) against Friday's close of Rs104.75 (7.39 per cent YTM).

Call rates: Call rates ruled between 6.55 per cent and 6.65 per cent against Friday's 6.1 per cent and 6.2 per cent. In the first one-day reverse-repo auction under LAF, the RBI received and accepted four bids for Rs760 crore. There were no repo bids. In the second one-day reverse-repo auction, the RBI accepted and received nine bids for Rs7,750 crore.

CBLO: The CBLO market saw 334 trades aggregating to Rs19,453.60 crore in the 6.23 per cent-6.75 per cent range.
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Swiss Re to acquire 26 pc stake in TTK Healthcare
Mumbai: The world's largest reinsurer Swiss Reinsurance Co will acquire a 26 per cent stake in TTK Healthcare Services, a leading third-party administrator (TPA).

TPAs provide cashless hospitalisation to mediclaim and health insurance policyholders. The two companies are awaiting the Insurance Regulatory Development Authority's approval soon.

Swiss Re will buy the stake in TTK Healthcare Services from the TTK group and India Value Funds Advisors, a private equity fund.

The global major also intends to create a 100 per cent owned healthcare services advisory company that will focus on product development and corporate health schemes to assist insurance companies in the rapidly expanding health insurance industry which is likely to grow 15-fold by 2015.
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Deutsche Bank to invest Rs1125-cr in Indian ops
Mumbai: Germany's Deutsche Bank has invested Rs1,125 crore into its Indian operations. The fresh one is more than double the capital invested by the parent bank in its Indian branches to Rs2,411 crore.

A remittance of Rs500 crore has already been done and the balance of around Rs625 crore will happen "in the near future". In October 2004 that the bank had last injected Rs419 crore into the local operations.

The funds will take care of the bank's business plans for 2007 and will allow the bank to provide larger-sized loans towards infrastructure and corporate financing, in the immediate term.

In the medium-term, the capital will help finance the bank's retail growth as the bank looks to build its consumer finance business in India. Deutsche Bank had recently launched retail banking and credit cards in India.

The bank has eight branches in India, has a retail customer base of about 1,00,000 and a credit card base of over 50,000.

The bank's capital adequacy ratio stood at 12.74 per cent as of March 31, 2006. The deposit base was at Rs4,379 crore and advances at Rs2,581 crore.
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Bank of India acquires 76 pc stake in Indonesian bank
Mumbai: Bank of India has acquired a majority 76 per cent stake in Indonesian bank, P T Bank Swadesi Tbk, said a press release from Bank of India. This is the first overseas acquisition for Bank of India, which has a representative office in Indonesia for the last 33 years.

P T Bank Swadesi Tbk is a mid-sized bank operating in Indonesia for the last 38 years. It has four branches, two each in Jakarta and Surayaba, five sub-branches, six cash points and one mobile cash unit. It also has a core banking IT infrastructure, ATM facilities and licence to do forex business. It is listed on the Jakarta Stock Exchange, said the press release.

Bank of India has international operations in 12 countries, including the UK, the US, Kenya, Singapore, China, Vietnam, Japan and others. It has a joint venture in Zambia, Indo Zambia Bank. International business contributes approximately 20 per cent of the asset size of the bank.
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