Rupee declines
Mumbai: The rupee declined against the dollar on Thursday. The currency opened at 44.17/19 and touched an intra-day low of 44.36. It closed the day at 44.31, against Wednesday's close at 44.19/20. Dealers said the rupee is expected to be in the range of 44.15-44.45 in the next few days.

In the forwards market, the 6-month premium closed at 3.51 per cent (3.75 per cent) and the 12-month at 2.97 per cent (3.16 per cent).

Bonds: Bond prices were down by about 20 paise (yields moved up by three basis points).

Total traded volumes on the order matching system dipped to Rs1395 crore (Rs2810 crore). The 8.07-10 year-2017 benchmark paper opened at Rs101.94 (7.78 per cent YTM) and closed at Rs101.67 (7.82 per cent YTM) against Wednesday's Rs101.9 (7.79 per cent YTM).

The 7.59 per cent-9 year-2016 paper opened at Rs98.73 (7.78 per cent YTM) and closed at Rs98.60 (7.80 per cent) against Wednesday's Rs98.76 (7.77 per cent YTM).

Call rates: Call rates closed slightly lower at 7.9-8 per cent (8-8.2 per cent).

Reverse repo: In the first one-day reverse-repo auction under the Liquidity Adjustment Facility, the RBI received and accepted one bid for Rs90 crore and in the repo auction, it received and accepted 15 bids for Rs5,280 crore. In the second one-day reverse-repo auction, the RBI accepted and received four bids for Rs105 crore and in the repo auction, it received and accepted 11 bids for Rs3,535 crore.

CBLO: The CBLO market saw 354 trades aggregating Rs21,736.25 crore in the 7.01-7.27 per cent range.
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HDFC Bank launches business card for SMEs
Coimbatore: HDFC Bank, in association with MasterCard International, has launched `HDFC Bank Gold Business Card' for the self-employed and small and medium enterprises (SMEs) in Coimbatore. The card will have a credit limit of Rs10 lakh and free credit period of up to 45 days.

The card would be available to the bank's customers in Bangalore, Chennai, Kochi, Coimbatore, Delhi, Hyderabad, Kolkata, Mumbai and Pune.
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SBI extends special rate plan
Coimbatore: State Bank of India's special rate of interest at 8.25 per cent on deposits of Rs15 lakh and above but less than Rs1 crore for maturities of one year and above will now be available on all deposits irrespective of the amount with effect from January 22.

The bank has also announced 50 basis point additional interest for senior citizens for deposits of one year and above. In a notification to the NSE today, the bank said the offer will be applicable for a limited period up to March 31 The bank has been running an ad campaign about the revision of interest rate to 8.25 per cent with effect from January 8 for deposits of Rs15 lakh and above but less than Rs1 crore and a minimum maturity period of 1 year.
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Canara Bank Q3 net up 1.8 pc
Bangalore: Public sector Canara Bank has reported a 1.88 per cent increase in net profits for the third quarter of the financial year.
Canara Bank's chairman and managing director, M.B.N. Rao said the fall in profits was due to a rise in depreciation on investments last quarter.

During the period the bank's depreciation on investments rose to Rs284 crore (Rs175 crore) largely on account of the rise in yields of government securities.

As a result, the net profit for Q3 was Rs363.02 crore (Rs356.29 crore). Gross profit was Rs701.01 crore (Rs699.18 crore). The bank's gross revenue was higher at Rs3,260.66 crore (Rs2,551.22 crore). Interest income was higher at Rs2,961.36 crore (Rs2,240.07 crore). Interest income during the period was Rs2,961.36 crore (Rs2,240.07 crore). The rise in interest income was contributed by the 29 per cent increase in credit.
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