Forex rules eased: The RBI on Friday said that prior permission from the ministry of information and broadcasting is not required for availing foreign exchange towards shooting of films abroad, including production of news-related films. "For release of forex to shoot films including news related films, the applicants will approach the concerned regional office of RBI," said an RBI release.

S&P affirms ICICI rating: Standard & Poor on Friday affirmed its `BB+/negative/B' foreign currency counterparty credit rating on ICICI following the proposed merger of Anagram Finance with the FI. "The `BB+' rating on ICICI's $150 million 2003 and $ 150 million 2007 bond issues and the `BB-' rating on its $ 150million subordinated debt issue are affirmed," said an S&P release.

Citibank branch in Hyderabad soon: RBI on Friday permitted Citibank to open a branch in Hydrabad. Citibank already has seven branches in India-two in Mumbai, one in Calcutta, Chennai, New Delhi, Bangalore and Pune. With the opening of a branch in Hyderabad, the number of Citibank's branches will increase to eight, said an RBI release.

3 finance firms denied NBFC status: The RBI has rejected application for certificate of registration to three companies -- JVG Finance, JVG Leasing, JVG Securities. "The companies will not be able to transact the business of non-banking financial institution as defined in Clause (A) IF Section 45I of the RBI Act," said an RBI release.

Repo auction: RBI on Saturday announced a three-day fixed rate repo auction in government of India dated securities on June 1 for parties holding SGL and current account. The interest rate for the three-day fixed rate repo is pegged at 6 per cent. Paymentby applicants will be on June 1 and repurchase by the RBI on June 4.

RBI mops up Rs 2,371 cr via repos: The RBI on Saturday mopped up Rs 2,371 crore through a three-day fixed rate repo in government of India dated securities for parties holding SGL and current account. The central bank received four applications and accepted all of them.

United Western revises deposit rates: United Western Bank has revised interest rates on domestic deposits with effect from June 1. As per the new interest rate structure, below Rs 15 lakh, the bank will offer 6 per cent for 15-29 days maturity period, 7 per cent for 30-179 days, 8 per cent for 180 days to one year, 11 per cent for 1-3 year and 12 per cent for 3 years and above. The bank will offer additional interest of 0.5 per cent over the prescribed rate for a single deposit account of Rs 15 lakh and above. The bank has also declared the penalty rates for premature withdrawals of deposit.