Rupee closes weaker - G-Secs up
Mumbai: The rupee ended marginally weaker on Wednesday at 43.83/85 per dollar against its previous close at 43.80/81 per dollar.

Forwards Market: Range bound with the six-month forward ending lower at 1.94 per cent (2.07 per cent), while the one-year forward finished at 1.48 per cent (1.51 per cent).

G-Secs: The benchmark 7.38 per cent 2015 paper ended at Rs105.75 at a yield of 6.62 per cent. The 7.55 per cent 2010 paper closed at Rs105.15, with yield at 6.41 per cent.

T-bills auction: At the Rs2,000 crore 91-day treasury bill auction, the cut off yield was set higher at 5.49 per cent (5.4 per cent), while at the Rs1,000 crore 364 day t-bill auction it was set at 5.74 per cent - 9 basis points over the previous cut-off of 5.65 per cent.

Call Rates: In the inter-bank market rates were in a range of 5.75 to 6.1 per cent.

CBLO Market: 130 trades aggregating Rs5,600 crore were transacted.
Back to News Review index page  
Card-to-card fund transfer facility from IDBI Bank
Mumbai: The IDBI Bank has announced the launch of 'card to card money transfer', a domestic remittance product, in collaboration with Visa International. Customers can now transfer money from their bank account or a Visa card to any other Visa debit or credit card across the country through this scheme.

The facility will be available free of cost for three months, but a flat charge of about Rs15 per transaction will be levied eventually. At present, the daily limit for transfer of funds is Rs25,000 on card-to-card payment. The transaction may take 24 to 36 hours for completion, the bank has said.
Back to News Review index page