Rupee gains
Mumbai: The rupee gained around 20 paise against the dollar following the surge in the domestic stock market.

The domestic currency opened at 44.50/52 and touched an intra-day low of 44.57/58 to finally closed the day at 44.33/34 against Wednesday's 44.50/51. Dealers said the home currency was closely following the movements on the Bombay Stock Exchange.

Bonds: Bond prices fell by around 30 paise on Thursday as traders were cautious ahead of the Rs7,000-crore Government security auction on Friday. Total traded volumes on the order-matching system were Rs 1,175 crore. Sentiment was bearish.

The inflation figure released on Friday is expected to be around 6.03-6.05 per cent, said traders.

G-secs: The 8.07-10 year-2017 benchmark paper opened at Rs100.82 (7.95 per cent YTM) and closed at Rs100.48 (7.99 per cent YTM), against Wednesday's Rs100.82 (7.95 per cent YTM). The 7.37 per cent-7 year-2014 paper opened at Rs96.65 (7.99 per cent YTM) and closed at Rs96.55 (8.01 per cent YTM), against Rs 96.56 (8.01 per cent YTM).

Call rates: Call rates closed at 5.45-5.65 per cent (5.50-5.60) on Thursday.

Reverse repo: In the first one-day reverse repo auction, the RBI received 22 bids for Rs15,900 crore, but accepted only 22 bids for Rs1,994 crore (against the limit of Rs 2,000 crore). In the second one-day reverse repo auction, it received 16 bids for Rs11,640 crore, but accepted only 16 bids for Rs1,005 crore (limit Rs1,000 crore). There were no repo bids.

CBLO: The CBLO market saw 361 trades aggregating to Rs23,607.20 crore in the 4.50-5.18 per cent range.
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ICICI Bank says retail credit growth slowing down
Mumbai: ICICI Bank says it sees a slowdown in the growth of its retail loans to 20 per cent this fiscal, against the previous year's jump of 40 per cent. V Vaidyanathan executive director ICICI Bank said the interest rate increases through the year hade reduced the incremental growth in disbursements.

The growth of retail loans will, be sustained at 20-25 per cent next fiscal, he added.

He said the growth of mortgage finance, which is the largest contributor to the retail portfolio, had fallen due to a rise in property prices.

The share of home loans, which stands at 30 per cent of ICICI Bank's loan book, will shrink as a percentage of incremental business, he added. ICICI Bank's home loan outstandings stand at Rs 60,000 crore.

The bank plans to look at other avenues of income and modify its business model with the changing times.
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ING Vysya Bank to raise Rs100 crore
Mumbai: ING Vysya Bank's board of directors has approved raising up to Rs 100 crore as upper Tier-II capital.

The bonds or debentures raised in Japanese yen, from ING Bank N V, would have a tenure of 15 years with a call option at the end of 10 years, it said in a statement.
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Karnataka Bank implements Oracle application for asset management
New Delhi: Karnataka Bank has implemented Oracle's Financial Service Application to meet the bank's asset liability requirements.
The application would help Karnataka Bank in meeting the compliance regulations, Oracle said in a release here.

Oracle has implemented its application for the bank in association with its partner Wipro, it said.
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