Rupee stays unchanged — G-Secs fall
Mumbai: The rupee ended at 43.7250/7325 against the dollar on Tuesday, unchanged from Monday's close of 43.72/73.

Forwards market: The 6-month premium closed at 1.5 per cent (1.48 per cent) while the 12-month premium closed at 1.394 per cent (1.32 per cent).

G-Secs: Bond prices fell by around ten paise on expectations of a 25 basis point hike in the US Fed rate. The 7.38 per cent 10-year benchmark paper closed at Rs104.90 (6.72 per cent YTM) on Tuesday as against Monday's close of Rs105 (6.71 per cent YTM).

Call rates: Inter bank rates closed at 4.75 per cent.

CBLO market: 89 trades aggregating Rs2,248 crore were put through in the rate range of 4-4.90 per cent.
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SBI Life doubles capital base to Rs.350 crore
Mumbai: SBI Life Insurance Company Ltd, a joint venture between State Bank of India and Cardif SA of France, has infused fresh capital of Rs175 crore, doubling its capital base to Rs350 crore. As per the Insurance Regulatory and Development Authority, the joint venture partners have contributed the additional amount in proportion to their stake of 74:26.

SBI Life has a sizeable group insurance portfolio with a market share of 12.75 per cent.
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Bank strike affects services
Mumbai: With employees striking work to protest against Government plans to merge public sector banks and allow 74 per cent FDI in banks, banking operations all over the country were partially affected on Tuesday. According to the United Forum of Bank Unions, which called the strike, employees of all public sector and old private sector banks participated in the strike.

However, new private sector and foreign banks reported normal working. Some bank branches were open but with skeletal staff.
According to RBI officials, cheque clearing was seriously hit by the strike. The total value of cheques cleared in Mumbai circles on Tuesday amounted to less than 25 per cent of a normal day.

The strike also affected the forex market, which did not see much action. However, the bond market was not affected, as PSU banks do not trade heavily in Government securities.
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