Money market: Rupee moves up - bonds shed gains
Mumbai: The rupee continued its firm trend against the dollar closing at 43.75/76. The rupee had ended previously at 43.79/80.

Forwards market: The six-month premium ended at 1.45 per cent, against Monday's 1.73 per cent and the 12-month premium finished at 1.31 per cent (1.46 per cent).

G-Secs: The 10-year benchmark paper opened at 6.51 per cent against Monday's close of 6.50 per cent before finishing unchanged.

Call rates: Steady at 4.70/4.80 levels.

CBLO market: 145 trades aggregating Rs7.407 crore was put through in the rate range of 4.46 per cent.
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Tata AIG and TT Enterprises tie up for relocation services in the US
Mumbai: Tata AIG General Insurance Company Ltd has announced an alliance with Chennai-based TT Enterprises, a TTK group company. The alliance will allow TT Enterprises to ally with AIG International Services (AIGIS), USA, for the launch of the 'Relocation Support Membership Programme' for Indian nationals traveling to the US.

Priced in the $250-$350 bracket, depending on the choice of plan, the membership offers relocation and travel assistance. The services on offer include social security registration, US driver's licence and registration, procuring credit cards, setting up bank accounts and accidental death and medical evacuation coverage.

The programme will be customised to the needs of students, employees and businesses. The alliance essentially implies a bundling of products. Buying a Tata AIG policy will entitle the buyer for membership in the TT-AIGIS relocation programme.

Tata AIG General Insurance Company, said in a press release that they were responding to the insurance needs of Indians travelling to the US who demand financial and insurance solutions that are simple, secured and affordable.

TT Enterprises has been the exclusive general sales agent for British Airways World Cargo and has been providing foreign exchange facilities and travel-related services, including a visa support system for various consulates over the last twenty years.
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AMP Sanmar hikes capital
Chennai: AMP, Australia and the Chennai-based Sanmar Group have added fresh capital of Rs.57.10 crore to their life insurance joint venture, AMP Sanmar, taking the company's capital to Rs217.10 crore.

The additional capital matches the current shareholding of the joint venture partners - 74 per cent from the Sanmar Group and 26 per cent from AMP, says a press release from the company.

The additional capital will fund AMP Sanmar's plans for fiscal 2005. This year, AMP Sanmar will tap newer markets in Maharashtra by adding nine branches in the State. In all, the branch network will grow by 27 to touch 103.
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South Indian Bank outlines plans for the coming year
Kochi: The South Indian Bank has various plans under way, which includes opening a representative office in the UAE. The bank has said that it would be enhancing its capital base next year to meet the capital adequacy requirements under Basel II accord. The bank also plans to take its net worth to around Rs1,000 crore by March 2007.

The South Indian Bank plans to open over 20 branches at centres with potential the coming year, a press release has said. This year the bank plans to open branches at Amritsar, New Delhi, Nagpur and Raipur.

The core-banking solution implemented in the bank, along with Infosys, now covers about 86 per cent of the bank's total business.
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