Rupee higher
Mumbai: The rupee on Tuesday closed higher at 45.2375, up from Monday's close of 45.2400/2450 in its value against the dollar.
Forwards market - The six months forward closed at 0.35 per cent (0.36 per cent) and the one-year closed at 0.47 per cent (0.44 per cent).
G-secs- The ten-year benchmark, the 7.37 per cent 2014 paper closed at Rs 116.65 with an yield of 5.22 per cent.
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ICICI Bank ties up with Microcredit Foundation
Chennai: ICICI Bank intends to tie-up with micro-finance organisations all over the country and has taken the first step through a tie-up with Microcredit Foundation of India (MFI), founded and run by Dr K.M. Thiagarajan, former Chairman of Bank of Madura.

Under the arrangement, MFI would facilitate formation of self-help groups(SHGs) and help them acquire capability to generate income for the group. Later, MFI would provide finance for the income generating activities. In all these areas, ICICI Bank would back MFI with the funds needed. The MFI was already involved with some 10,000 SHGs in Tamil Nadu and expects the number to go up to 50,000 in the next three years.
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Syndicate Bank: Designated to collect taxes in AP
Hyderabad: The Syndicate Bank has announced that the Central Board of Direct Taxes (CBDT) has designated 38 branches of the bank in Andhra Pradesh for collection of direct taxes. The bank has urged the public and corporate bodies to avail of the services for remitting their corporate, income, wealth and other direct taxes including tax deducted at source.
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DCB ties up with Visa
Bangalore: The Development Credit Bank has tied up with Visa International and aims to disburse close to 2,50,000 debit cards in the next 12 months.
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Andhra Bank: Securitises home loans
Hyderabad: Andhra Bank has informed the Bombay Stock Exchange that it plans to securitise part of its housing loans by issue of pass through certificates amounting to approximately Rs 42 crore. Its housing loans portfolio has been assigned an `AAA (SO)' by Crisil.
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