Rupee gains 30 paise - securities firm up
Mumbai: The rupee gained more than 30 paise against the US dollar on Wednesday, ending trade at 45.73/74, up from Tuesday's close of 46.09.

Forwards: The forward premia tracked the rupee, with the six-month closing at 0.76 per cent (0.89 per cent) and the one-year closing at 0.65 per cent (0.72 per cent).

G Secs: The 8.07 12 year-2017 paper closed at Rs106.45 (7.21 per cent YTM), up from Tuesday's Rs106.297 (7.23 per cent YTM). The 10.25 -16 year-2021 paper ended at Rs126.25 (7.375 per cent YTM), higher than Tuesday's close at Rs126.08 (7.39 per cent YTM).

Call rates: The call rate closed at 6 per cent but touched an intra-day high of 6.40 per cent (5.80-90).

Reverse Repo: In the first one-day reverse repo auction, the Reserve Bank of India received and accepted four bids amounting to Rs550 crore. In the second auction, it received and accepted three bids for Rs485 crore.

CBLO: In the CBLO market, there were 302 trades for Rs12,998.60 crore in the range of 1.00-6.15 per cent.
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Bajaj Allianz Life unveils four plans
Mumbai: Bajaj Allianz Life Insurance has launched four new products to meet its target of Rs2,000 crore of new business premium by the fiscal end. These include three unit-linked and one health-oriented insurance plan.

The company is also considering the introduction of a capital guarantee product this fiscal.

Of the four products, Unit Gain Premier has an upfront allocation of 105 per cent of a single premium on day one and attains maturity after six years.

Unit Gain Super offers flexibility in terms of premium payment. After payment of at least two full years premia (including top-up premia), even if the due premium is not paid, the policy will be kept in force by cancellation of units at the prevailing unit price. It has an allocation of up to 93 per cent.

The highlight of Family Gain is that it provides for investment in `ethical equity fund'. This means the investments will not be made in companies dealing in gambling, liquor and hospitality. It has a maximum maturity age of 70.
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Bajaj Allianz launches FamilyGain
Mumbai: Bajaj Allianz Life Insurance Company has launched "FamilyGain" insurance plan offering a fund option with investment norms similar to Islamic practices.

The pure equity option under the unit-linked insurance plan will specifically exclude companies dealing in gambling, contests, liquor, entertainment, hotels, banks and financial institutions. Shariah, the Islamic law, prohibits investment in these companies.

FamilyGain also offers policy holders a choice of three other investment options – equity index fund, debt fund and balanced fund – but the investments of these funds will also be made in sectors banned by Shariah.

Apart from blacklisting sectors, Shariah also stipulates financial parameters such as debt-equity ratio or the market capitalisation-debt ratio.

Muslims are barred from investing in companies where the debt ratios are higher than certain levels.
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