Rupee down sharply - Bonds rise
Mumbai: The rupee closed at 46.1050/1150 against the dollar. On Monday the Indian currency had ended at 45.9550/9650 per dollar.

Forwards Market: The six-month forward closed at 2.30 per cent (1.98 per cent) while the twelve-month forward closed at 1.90 per cent (1.65 per cent).

G-Secs: The 10 year benchmark 7.37 per cent 2014 paper closed at Rs.108.35 at an yield of 6.19 per cent, 7 basis points higher than previous close of 6.12 per cent. The 11-year benchmark 7.38 per cent 2015 paper fell to end at Rs.108.95 and its yield rose to 6.24 per cent against previous close of 6.16 per cent.

Call Rates: In the range of 4.50-4.60 per cent.

CBLO Market: 100 trades worth Rs 2,392.55 crore were transacted in the rate range of 4.35-4.70 per cent.
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Rate slab fixed for SGSY loans
New Delhi: The Government has asked the Reserve Bank of India and Nabard to ensure that the loans extended to self-help groups under Swarnjayanti Gram Swarozgar Yojana (SGSY) is made available within a slab of 4 to 6 per cent interest.

Dr. Raghuvansh Prasad Singh, Minister for Rural Development said the banks will have to adopt a pro-active approach to make these programmes a success.
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IDBI places floating rate bonds of Rs.100 crore with MFs
Mumbai: Industrial Development Bank of India (IDBI) has privately placed floating rate bonds worth Rs.100 crore with a few mutual funds. ICICI Securities arranged the transaction, an IDBI release said here.

The bonds have a maturity of three years with an innovative coupon structure in which the underlying benchmark reduces every year.

The coupon in the first year will be 15 basis points over the annualised yield of a three-year benchmark Government bond.

In the second year, it will be 25 basis points over the annualised return from a two-year Government bond and in the third year, it will be 35 basis points over the annualised yield from a one-year Government bond.
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Tata Life launches pension plan ‘Nirvana Plus'
Mumbai: Tata AIG Life Insurance Company has launched ‘Nirvana Plus', which it claims is India's only pension plan for individuals with a 10 per cent guaranteed addition to the sum assured every five years.

A press release from the company said it is the sole plan in the country, which covers six critical illnesses such as cancer and heart attack in the first three years.
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