Rupee gains
The rupee gained by about 40 paise to 43.07 against the dollar as banks sold dollars. The rupee opened at 43.28/30, touched an intra-day high of 43.03/04 and closed at 43.07, against Friday's 43.47. The six-month forward premia closed higher at 5.93 per cent (4.4 per cent) and the one-year closed at 4.56 per cent (3.67 per cent).

Bonds: Prices in the bond market, which opened for the first time after the RBI hiked CRR rate and repo rates on Friday last week, fell by over a rupee.

G-secs: The 8.07 per cent-10 year-2017 paper touched an intra-day low of Rs99 (8.22 per cent YTM) and closed at Rs99.31 (8.17 per cent YTM), against Friday's close at Rs100.42 (8 per cent YTM).

Call rates: Call rates closed at 10-12 per cent against the previous close at 40-50 per cent and banks borrowed around Rs20,000 crore from RBI through the repo window at 7.75 per cent in the first auction.
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Karnataka Bank biz target of Rs 28,500 crore
Mangalore: Karnataka Bank, which registered a business turnover of over Rs23,500 crore during 2006-07, has set a target to achieve a turnover of Rs28,500 crore during 2007-08.

Mr Anantakrishna, chairman and chief executive officer of Karnataka Bank unveiled the roadmap for the financial year 2007-08 with incremental business growth of Rs5,000 crore to reach the business turnover to Rs28,500 crore. This includes Rs3,000 crore of deposits and Rs2,000 crore of advances.
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