Rupee declines against dollar
Mumbai: The rupee declined dipped against the dollar in tandem with the fall in other major global currencies. The rupee opened at 45.88/90 and depreciated to close at 45.93.

The dollar has been rallying against all other major currencies due to favourable consumer sentiment and capital flows data released on Friday. Currencies like the euro and the yen fell by 70-80 basis points.

Forwards: In the forward premia market, the six-month closed at 1.12 per cent (0.96) and the 12 month at 1.22 per cent (1.10).

Call rates: Call rates remained between 5.75 and 5.85 per cent.

Reverse repo: In the first one-day reverse repo auction under LAF, the Reserve Bank of India received and accepted 26 bids amounting to Rs21,570 crore and in the second one-day reverse repo auction, 33 bids for Rs17,250 crore.

CBLO: The CBLO market saw 278 trades aggregating to Rs15,530.75 crore in the 5.51-5.70 per cent range.

Bonds: Bond prices fell by 60-70 paise after the Reserve Bank of India increased the auction amount from Rs5,000 to Rs9,000 crore. Dealers said this is part of the central bank's inflation management measures.

On Friday, RBI announced the auction of two government papers instead of one, as was earlier scheduled. The yields on bond increased by 10-11 basis points on Monday and are at a three-year high, according to dealers.

G-secs: The 7.59 per cent-10 year-2016 benchmark paper opened at Rs98.07 (7.87 per cent YTM) and ended trade at Rs97.82 (7.91 per cent) 70 paise lower from Friday's close of Rs98.56 (7.80 per cent YTM). The 9.39 per cent-5 year-2011 benchmark paper opened at Rs107.85 (7.49 per cent YTM) and ended at Rs107.64 (7.54 per cent) down from the previous close of Rs108.07 (7.44 per cent YTM).
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SBI Life Insurance declares 9 per cent return on LPSs
Mumbai: SBI Life Insurance has declared a total of 9 per cent return on Lifelong Pension Schemes. This includes a simple annual bonus of 5 per cent in addition to the guaranteed return of 4 per cent per annum for all policies in force as on March 31, 2006, the company said in a release here.

All bonuses declared are a percentage of the effective sum assured and not linked to the premium component the release added.

"All our products have delivered good results. Therefore, we are pleased to share the benefits with our customers through a bonus increased by 25 per cent as compared to last year," said S Krishnamurthy SBI Life Insurance chairman and CEO.
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