Rupee volatile - securities fall
Mumbai: The rupee weakened against the US dollar in volatile trade on Tuesday, ending about 20 paise lower to 45.37.

Forwards: The forward premia moved up with the six-month ending at 1.4 per cent (1.3 per cent) and the 12-month at 1.02 per cent (0.95 per cent).

G-Secs: The 8.07 12-year 2017 paper closed at Rs106.26 (7.23 per cent YTM), against Monday's close of Rs106.34 (7.22 per cent YTM). The 10.25 16-year 2021 paper closed at Rs125.94 (7.40 per cent YTM) against the previous level of Rs126.08 (7.39 per cent YTM).

Call rates: The call rate closed at 6.25 per cent and deals were done at 6.5 per cent (6.25-6.30 per cent).

Reverse Repo: In the first one-day reverse repo auction, the Reserve Bank of India received and accepted three bids amounting to Rs480 crore, and eight bids for Rs2,140 crore in the repo auction. In the second one-day reverse repo auction, the bank received two bids for Rs355 crore, and four bids for Rs745 crore in the repo auction.

CBLO: In the CBLO market, there were 344 trades for Rs16,303.05 crore in the range of 6.16-6.30 per cent.
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Govt. not to increase interest rate in small saving schemes
New Delhi: The Government has ruled out any move to hike interest rates on both short and long term post office deposits.
The rates have remained unchanged since March 2003 on the recommendations of the YV Reddy Committee report.

The committee had recommended that interest rates on small saving schemes be benchmarked to the average yields on Government securities of comparable maturity in the secondary market.
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Kotak Mahindra licensed to operate at DIFC
Mumbai: Kotak Mahindra (UK) has been licensed by the Dubai International Financial Services Authority (DIFC) to operate from its branch in DIFC.

Kotak Mahindra (UK) plans to offer customers access, advisory, and investment management services for the Indian capital markets. Its clientele includes institutions and high net worth individuals, a DIFC release said on Tuesday.
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UTI Bank plans to open new branches in north
Ludhiana: UTI Bank said it is planning to add 15 more new branches in the Northern region during the current fiscal. At present the bank has 85 branches in the northern region covering Delhi, Punjab, Haryana, Jammu and Kashmir, Himachal Pardesh and Uttar Pradesh.

The bank plans to open 15 more new branches in northern region in this fiscal in order to consolidate its position.

UTI Bank on Tuesday opened two new branches in Ludhiana and Hoshiarpur districts, taking the total number of branches in Punjab to 23.

The bank would open one more branch in the state by the end of this fiscal.
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Kotak Mahindra in tie up with portal
Mumbai: Kotak Mahindra Bank has tied up with IndianNGOs.com to offer fund management services to non-government organisations.

The portal associated with more than 350 NGOs as project partner would bring third party perspective on managing and growing NGO funds, the bank said in a release.

Alongwith IndianNGOs, Kotak Bank will run "Fund Management Clinics" for NGOs through out the country free of cost.
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