Rupee moves up against the dollar
Mumbai: The rupee moved up against the dollar due to stock market inflows on Thursday. The rupee opened higher at 46.12 and touched a high of 46.0850. It ended at 46.17 against the earlier close of 46.18. The six-month premium ended 1.36 per cent (1.37 per cent) and the 12-month at 1.34 (1.36 per cent).

Bonds: Bond prices fell by about 38 paise on advance tax payments made by corporates. The total traded volume on the order matching system was Rs2,720 crore (Rs3,435 crore). Dealers said bond prices slipped on fears of a liquidity crunch following the tax payments.

G-secs: The 7.59 per cent 10 year-2016 paper opened at Rs98.95 (7.75 per cent YTM), down from Wednesday's close at Rs98.97 (7.74 per cent YTM) and closed at Rs98.59 (7.7996 per cent YTM). The 8.07 per cent 11 year-2017 paper opened at Rs101.83 (7.80 per cent YTM) and ended at Rs101.54 (7.84 YTM) lower than Wednesday's Rs101.89 (7.80 per cent).

Call rates: Call rates were between 6.00 and 6.10 per cent.

Reverse repo: In the first one-day reverse repo auction under LAF, Reserve Bank of India received and accepted 19 bids amounting to Rs21,570 crore and in the second one-day reverse repo auction, 34 bids for Rs15,710 crore. There were no repo bids.

CBLO: The CBLO market saw 271 trades aggregating to Rs14,325.65 crore in the 5.92-6.15 per cent range.
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Oriental plans to hike medical premium for elderly
Mumbai: Oriental Insurance Company is hiking the health insurance premium for citizens above 50 by over 100 per cent while those under 20 will pay slightly lower premium if serviced by Effective September 15, for a sum assured of Rs1 lakh.

Those in the56-60 age bracket will pay an annual premium of Rs3,483 against Rs2,322 earlier; those between 61-70 will have to pay Rs5,196 (Rs2,322) and for those above 70 the premium has been hiked to Rs6,960 (Rs2,784 earlier).

The policy will now be extended up to the age of 90 and health check-ups before renewal will be mandatory for policyholders above 45.

This comes at a time when the four public sector insurance companies are filing new products with the IRDA.

Oriental Insurance Company is the first to lead the market with an escalating health plan, and others are likely to follow suit.
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BoI to open more overseas branches
London: The Bank of India (BoI) is opening branches in Tanzania, South Africa, Belgium, China, Indonesia and Qatar. The bank has 24 branches outside India in 12 countries at present. The bank is observing its centenary celebrations.

The bank, which commenced its operation 100 years ago with a single office in Mumbai with a paid up capital of Rs50 lakh and a staff of 50 has now achieved a milestone of Rs1 lakh crore deposits a week ago. At present, it has 2,650 branches including 24 branches overseas with an annual turnover of Rs1,70,000 crores. It has 24 million customers and 42,236 employees.
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