Rupee unchanged - bonds lower
Mumbai: The rupee ended unchanged against its previous close on Wednesday at 43.70/71 against the dollar.

Forwards Market: The six-month annualised premium ended at 2.02 per cent (1.90 per cent) and the one-year at 1.43 per cent (1.36 per cent).

G-Secs: The 7.38 per cent 2015 paper ended at Rs106.50 at a yield of 6.53 per cent. The 7.55 per cent 2010 paper closed at Rs105.50 at a yield of 6.32 per cent.

T-Bill auction: The cut-off yield at the Rs2,000 crore 91-day Treasury bill auction was set at 5.41 per cent (5.49 per cent).

Call rates: On the higher side in a range of 5.85 - 6.10 per cent.

CBLO market: 133 trades worth Rs6,500 crore were transacted.
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PM's Fund: Commercial banks to accept donations
Mumbai: The Reserve Bank of India (RBI) has said that all branches of commercial banks in the country will receive donations to the Prime Minister's National Relief Fund.

These banks would also nominate a nodal branch in New Delhi for collecting the contribution, the apex bank said.

Each collecting branch would send the collection to nodal branch of its own bank in New Delhi every day along with details about donor, their addresses, cheque and demand draft number along with the quantum of contribution, it said. The nodal branches would remit the funds to any of the twelve designated branches in New Delhi which are maintaining PMNRF account.

RBI's regional director at New Delhi has been nominated as coordinating officer to facilitate smooth transmission of funds to PMNRF, it added.
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IRDA allows banks to take agency licences
New Delhi: In what could unleash a fresh wave of bancassurance tie-ups, the Insurance Regulatory and Development Authority (IRDA) has partially lifted the moratorium on grant of fresh corporate agency licences by opening the licencing window for the banking sector.

However, the regulatory ban on issuing fresh licences to private sector companies to act as corporate agents of insurers would continue to remain in force.

To ensure penetration of insurance products in rural areas, the IRDA has also agreed to grant agency new licences to self-help groups (SHGs) and non-governmental organisations (NGOs).

The insurance regulator had imposed a moratorium on issuance of fresh corporate agency licences earlier this year after it had noticed widespread instances of what is commonly referred to as `misselling' in insurance parlance.

Misselling refers to the practice of agents attempting to sell insurance products without adequate knowledge of the products or without going through the requisite training regime stipulated by the regulator.
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