Rupee marginally higher
Mumbai: The rupee gained by three paise on Monday due to strong FII inflows. The rupee opened at 44.61/63 but closed around three paise lower at 44.65/66 against Friday's close at 44.69/70.

Forwards: In forwards, the six-month premium closed at 1.95 per cent (1.94 per cent) and the one-year was unchanged at 1.80 per cent (1.80 per cent).

Bonds: Bond yields dropped by almost four basis points touching a seven-month low. The yield on the 10-year benchmark paper dropped to 7.38 per cent from 7.43 per cent on Friday on comfortable liquidity and low oil prices.

G-secs: 7.59 per cent-10 year-2016 paper opened at Rs101.1 (7.42 per cent YTM) and closed at Rs101.40 (7.38 per cent YTM) against Rs101.07 (7.43 per cent YTM) on Friday. The 8.07-11 year-2017 paper opened at Rs104.65 (7.41 per cent YTM) and closed at Rs104.90 (7.38 per cent YTM) against Rs104.61 (7.41 per cent YTM).

Call rates: Call rates remained the same between 6.1 per cent and 6.2 per cent.

Reverse repo: In the first one-day reverse repo auction under the LAF, the Reserve Bank of India received and accepted six bids for Rs2,060 crore. There were no repo bids. In the second one-day reverse-repo auction, the RBI accepted and received 15 bids for Rs12,405 crore.

CBLO: The CBLO market saw 319 trades aggregating to Rs19,789.90 crore in the 5.90-6.07 per cent range.
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Corpn Bank in pact with India Post
Mangalore: In keeping with its rural stance, Corporation Bank has tied up with India Post to sell its loan products in villages. Corporation Bank, in association with India Post, has launched `Corp Gram Mitra Yojana' - a security-free consumption loan scheme for rural beneficiaries. To begin with, the scheme has been introduced on a pilot basis in Goa.

As per the scheme, loans will be security-free and no guarantee will be insisted upon. The maximum amount of loan will be Rs20,000, repayable along with interest within two years in the form of monthly instalments. Application and documentation of loans will be done through the designated post offices in the respective places.

Noorjehan, principal chief postmaster general, Maharashtra Circle, formally launched `Corp Gram Mitra Yojana', at Nagoa in Goa on Monday.
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