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Rupee edges up — bonds dip
Mumbai: The rupee edged up against the dollar ending at 46.1850/1950, higher than Monday's close of 46.3250/3350.

Forwards market: The six-month premia closed at 0.8 per cent (0.68 per cent) and the one-year at 0.65 per cent (0.57 per cent).

G-Secs: The 10.25-16 year-2021 paper ended at Rs126.16 (7.385 per cent YTM) against Monday's closing of Rs126.11 (7.39 per cent YTM). The 7.49-12 year-2017 paper ended at Rs102.09 (7.214 per cent YTM), almost the same as Monday's Rs102.10 (7.21 per cent YTM).

Call rates: The inter bank rates closed at 5.30-35 per cent (5.20-30).

Reverse repo: In the first one-day auction, the Reserve Bank of India received and accepted 22 bids amounting to Rs17,460 crore. In the second auction, it received and accepted 21 bids for Rs9,780 crore.

CBLO market: There were 269 trades for Rs11,763.40 crore in the range of 5.22-5.50 per cent.
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RBI to issue new Rs.50, Rs.100 notes
Mumbai: The Reserve Bank of India will shortly issue new Rs50 and Rs100 denomination banknotes.

According to a press release from RBI, the new banknotes will have inset letter `L' in both numbering panels in the Mahatma Gandhi series - 2005, bearing the signature of RBI Governor, Dr Y.V. Reddy.

The inset letter is the only change in the design of the notes in the Mahatma Gandhi series which were issued with additional security features in August.
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Centurion Bank of Punjab to expand operations in the North
Mumbai: For its branch expansion plans, the Centurion Bank of Punjab will currently focus on North India. Anil Jaggia, chief operating officer, Centurion Bank of Punjab, said the bank has sought permission from the Reserve Bank of India for additional branch licences.

Accordijng to Jaggia, though the bank will be setting up branches across India, the focus will be on Punjab, Haryana and Delhi.

Centurion Bank of Punjab will also be setting up an asset reconstruction company, subject to RBI approval. Jaggia said the bank had appointed a team that had dedicated itself to the setting up of an ARC.

Among its other initiatives as a merged entity, Centurion Bank of Punjab has also announced its shift to Infosys' Finacle system for core banking solutions. The bank will replace its current system, Equation from Misys and deploy Finacle core banking, e-banking and CRM solutions as the unified technology platform for the merged entity.
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RBI: G-Secs auction oversubscribed
Mumbai: The auctions of the 8.07-Government Stock 2017 and the 7.4-Government Stock 2035 were oversubscribed on Tuesday, RBI has said.

For the 8.07 paper, for which the notified amount was Rs5,000 crore, RBI received 291 competitive bids amounting to Rs8,823.9 crore. The cut-off price was Rs106.24 (7.24 per cent YTM). It accepted 145 bids, amounting to Rs4,948.19 crore. The partial allotment percentage amounted to 66.63 per cent from seven bids.

The underwriting accepted from primary dealers was Rs3,750 crore. The weighted average price was Rs106.31. The RBI also received 51 non-competitive bids for Rs51.8 crore.

For the 7.4 paper, the notified amount for which was Rs3,000 crore, the RBI received 283 competitive bids amounting to Rs8,623.9 crore. The cut-off price was Rs98.16 (7.55 per cent YTM).

The RBI accepted five bids amounting to Rs2,954.35 crore. The partial allotment percentage amounted to 88.59 per cent from one bid. The underwriting accepted from primary dealers was Rs2,215 crore. The weighted average price was Rs98.39.
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