Rupee dips — G-Secs rule steady
Mumbai: The rupee weakened against the greenback on Monday ending at 43.5750/58 against its previous close of 43.54/55 on Friday.

Forwards market: The 12-month premium closed at 1.53 per cent and the six-month premium closed at 1.80 per cent.

G-Secs: In the bond market the prices fell by 10 to 15 paise and then recovered towards the close of the day. The market is awaiting the Rs8,000 crore-auction on Tuesday. The currently active 8.07-12 year-2017 bond finally closed higher at Rs104 (7.54 per cent YTM). The 7.55 per cent-5 year-2010 bond, which will be auctioned on Tuesday closed at Rs102.60 (6.93 per cent YTM). The 7.38-10-year-2015 benchmark paper closed at Rs100.60 (7.294 per cent YTM), up from Saturday's close at Rs100 (7.38 per cent YTM).

Call rates: The inter bank rates ruled higher in the 5.00-5.05 per cent range.

CBLO market: 177 trades aggregating Rs6,601.20 crore in the rate-range of 4.71 to 4.90 per cent were realised.
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HDFC Bank launches loyalty reward plan for cardholders
Chennai: HDFC Bank has launched a loyalty rewards programme for its debit and credit cardholders, which bank officials say will help increase cards usage and average card spend.
Under the scheme, named InstaWonderz, credit and debit cardholders will get five turbo points for every Rs100 spent in select partner retail outlets as against the normal two reward points at other outlets. These reward points can be instantly redeemed at these select merchant outlets. Cardholders need to accumulate a minimum 250 points for redemption.

The bank has tied up with about 400 merchant establishments for this scheme, which is being launched in Chennai and Pune. The scheme would be extended to other cities and towns and the number of merchant establishments would also be increased.

This programme, according to bank officials, will create a closed user group between HDFC Bank customers and its merchant partners who have signed up for this programme. While customers can earn and accumulate points, merchant outlets benefit from higher traffic and repeat purchases at the store.
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UTI Bank and Bajaj Allianz tie up for insurance products
Mumbai: The UTI Bank has entered into a bancassurance partnership with Bajaj Allianz General for selling general insurance products through its branch network. The bank will function as a corporate agent for Bajaj Allianz.

Apart from the standard insurance products of Bajaj Allianz, UTI Bank and Bajaj Allianz have also devised co-branded general insurance products, aimed at UTI Bank's customers.

The products that will be exclusively available to UTI Bank's customers are `Family Health" a health insurance policy with floater benefit for the entire family, `Safeguard', a personal accident insurance cover and `Safe Home', a household content insurance cover.
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Andhra Bank ties up with Kirtilal for jewellery purchase
Hyderabad: Andhra Bank has tied-up with Kirtilal Kalidas & Company, a leading jewellers to extend loans for the purchase of jewellery.

Under the alliance the bank would offer loans at its prime lending rate of 10.5 per cent as against the normal rate of 11 per cent.

The scheme titled 'Swarnapurnam' has been launched along with the South Indian cine star, Ms Jyothika, here on Monday. The bank would finance up to 85 per cent of the cost of the gold and gold ornaments and the balance 15 per cent has to be paid by the customer.
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