Rupee unchanged
Mumbai: The rupee remained unchanged despite initially moving up tracking the strength of the yen. However, as public sector banks began selling dollars, on behalf of the central bank the currency stayed unchanged.

In forwards, the 6 month closed at 3.30 per cent (3.37) and the 12 month ended unchanged at 3 per cent.

Bonds: Bond prices dropped by around 26 paise (yields went up by five basis points) as the market turned bearish ahead of the Rs 9,000-crore auction on Friday. Total traded volumes on the order matching system dipped to Rs1,410 crore (Rs3,195 crore).

G-secs: The 8.07 per cent-10 year-2017 paper opened at Rs102.45 (7.71 per cent YTM) and closed at Rs102.17 (7.76 per cent YTM) against Rs102.43 (7.71 per cent YTM) on Monday.

The 8.33 per cent-9 year-2016 paper opened at Rs99.15 (7.72 per cent YTM) and closed at Rs99.04 (7.74 per cent YTM).

Call rates: Call ruled unchanged at the previous close of 7.8-7.9 per cent.

Reverse repo: In the first one-day reverse-repo auction under LAF, the RBI received and accepted four bids for Rs60 crore and in the first one-day repo auction, the RBI received and accepted seven bids for Rs2,350 crore. In the second one-day reverse repo auction, the RBI accepted and received five bids for Rs835 crore and in the second one-day repo auction, the RBI received and accepted four bids for Rs1,760 crore.

CBLO: The CBLO market saw 339 trades aggregating to Rs21,989.80 crore in the 7.11 per cent-7.50 per cent range.
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ICICI Bank raises PLR by 100bps to 14.75 per cent
Mumbai: ICICI Bank has raised its benchmark advance rate (I-BAR) by 1 per cent or 100 basis points and its floating reference rate (FRR) for consumer loans, including home loans, with effect from 9 February.

According to the release issued by the bank to BSE today, the revised I-BAR will be 14.75 per cent p.a. payable monthly as against 13.75 pc at present. The revised FRR will be 11.75 per cent.

For existing floating rate customers, the increase in FRR by 1 per cent will be effective from the respective reset dates. The existing fixed rate customers whose loans are fully disbursed, will, however, not be impacted by the increase and their contracted rates will remain unchanged.

The bank has also announced an increase in interest rates on 80C fixed deposits (FD) of value less than Rs1 lakh by 1.25 pc for 5-year tenure with effect from February 09. The revised interest rate on 80C FD will be 9.50 per cent as against 8.25 per cent at present.
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Reliance Money in pact with VASCO Data
Mumbai: Reliance Money, the financial services and solutions arm of Reliance Capital, has entered into a tie up with VASCO Data Security International for providing user authentication for its customers.

VASCO will offer this authentication through its VACMAN Controller server authentication technology and Digipass GO3 hardware client authentication that has inbuilt software with the capability to generate a different authentication code every time it is switched on or every 36 seconds.
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