Rupee declines marginally
Mumbai: The rupee declines by about 7 paise on Monday due to dollar buying by nationalised banks. The rupee opened at 45.82 and closed at 44.98 against the previous close of 44.91.

Forwards: In forwards, the six-month premium closed at 1.98 per cent (2.01 per cent) and the one-year closed at 1.83 per cent (1.85 per cent).

Bonds: Bond prices increased on good trading volumes. The total traded volume on the order matching system was higher at Rs 8,045 crore (Rs 3,830 crore).

G-secs: The 7.59 per cent, 10-year, 2016 paper opened higher at Rs100.5 (7.51 per cent YTM) and closed at Rs100.71 (7.48 per cent YTM) against Friday's close of Rs100.39 (7.43 per cent YTM). The 8.07 per cent, 11-year, 2017 paper opened at 104.06 (7.49 per cent YTM) and closed at Rs104.45 (7.44 per cent YTM) against the earlier close of Rs103.88 (7.51 per cent YTM).

Call rates: Call rates ruled between 6.9 per cent and 7 per cent against 7.1 and 7.2 per cent on Friday.

Reverse repo: In the first one-day reverse-repo auction and repo auction under LAF, the RBI did not receive nor accept any bid. In the second one-day reverse-repo auction, it accepted and received nine bids for Rs9,745 crore.

CBLO: The CBLO market saw 430 trades aggregating Rs21,069.9 crore in the 5.96-7.05 per cent range.
Back to News Review index page  

Birla Sun Life targeting 66 pc growth in premium income
Mumbai: Birla Sun Life Insurance is targeting Rs1,000 crore in new business premium by the fiscal-end against Rs600 crore in new business premium last year.

Towards this the company will double its agency force from the current 30,000 in the next two months. The group life insurance business currently contributes 20 per cent of the premium. The company has signed up former cricketer Kapil Dev as its brand ambassador.
Back to News Review index page  

Bajaj Allianz Life to launch new products
Mumbai: Bajaj Allianz Life Insurance plans to launch a number of new products in the coming few months and may also be the first life insurer to introduce a cashless payment system for its health insurance products.

The company plans to introduce a regular premium product as well as a single premium unit-linked insurance product and three critical illness products. The company has created a health department and is working on tie-ups with two or three hospitals in all major cities and towns where Bajaj Allianz Life has a presence.

The company plans to focus on broadbased health-oriented insurance products that offer lumpsum cash for a host of critical illnesses for a five-year term.

The company has launched "Samraksha" which is a single premium term assurance plan targeted at the rural market. The plan is for a term of either 5 or 10 years and for a life cover of Rs5,000 and Rs10,000 respectively. The premium for this policy begins at Rs75. Among private life insurers, Bajaj Allainz Life has one of the largest agency forces and around 69 per cent of the company's premium comes from the agency channel.
Back to News Review index page