Rupee tad firmer
Mumbai: The rupee moved up by around 5 paise on Tuesday due to stable stock market conditions. The currency opened at 44.23/24, saw an intra day high of 44.19.50/20 and finally closed at 44.20.50 / 21.50 against the previous close at 44.26 on Monday.

In forwards, the six-month premia closed at 3.04 per cent (3.04) and the 12-month ended at 3.07

Bonds: Bond prices fell by about 16 paise and yields rose by one paisa on profit-booking by investors and expectations of a higher inflation number this week.

Total traded volumes on the order matching system fell to Rs1, 645 crore (Rs4, 385 crore).

G-secs: The 8.07 per cent 10 year-2017 benchmark paper opened at Rs100.10 (7.90 per cent YTM) and closed at Rs100.68 (7.96 per cent per annum) against Monday's close of Rs100.84 (7.95 per cent YTM).

The 7.37 per cent 7 year-2014 paper opened at Rs96.85 (7.95 per cent YTM) and closed at Rs96.63 (8 per cent YTM) against Rs96.83 (7.96 per cent YTM) on Monday.

Call rates: Call rates ruled unchanged at 5.20-5.40 per cent on comfortable liquidity in the system.

Reverse repo: Banks offered to park Rs34,115 crore with the RBI while the central bank accepted Rs3,000 crore under the reverse repo facility. In the first one-day reverse-repo auction under LAF, the RBI received 20 bids for Rs22, 745 crore and accepted 20 for Rs1,997 crore.

In the second one-day reverse repo auction, the RBI received 14 bids for Rs11, 370 crore and accepted 14 for Rs1,003 crore. There were no repo bids suggesting excess liquidity in the system.

CBLO: The CBLO market saw 433 trades aggregating to Rs26,010.15 crore in the 4.15 per cent-4.92 per cent range.
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UTI Bank to raise $754 million debt for acquisitions
New Delhi: UTI Bank might raise about $754 million in the first half of the next financial year to fund its business growth abroad. These funds are to be mobilised under an existing medium term note (MTN) programme of € 1 billion (about $1.2 billion) launched this fiscal.

Bank officials said UTI Bank has already raised $446 million and the raising of the remaining may happen in the first six months of the year.

UTI Bank has announced plans to open a "full service branch" in Hong Kong next week (March 21) and also a branch in Dubai in April this year. It already has a branch in Singapore and a representative office in Shanghai, China.
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Maruti to tie up with UTI Bank for car loans
New Delhi: UTI Bank and Maruti have tied up for providing car loans.

According to a press release from the bank the bank would utilising Maruti's extensive dealer network for marketing its car loans, while Maruti will jointly conduct campaigns for customers of UTI Bank. UTI Bank is present in eight centres at 16 dealership points and hopes to extend the offering to 25 cities and 75 dealerships by the end of March 2007.
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UTI Bank, IIFCL to co-finance infrastructure projects
New Delhi: UTI Bank and India Infrastructure Finance Company Ltd (IIFCL) have entered into a memorandum of understanding (MoU) to co-finance infrastructure projects among other things. This was the 11th MoU signed by IIFCL, a wholly owned enterprise of the Government.

Under the MoU, UTI Bank and IIFCL propose to cooperate and complement each others' capabilities in the areas of creating a deal flow of infrastructure projects that could be structured along commercially viable lines. The MoU also provides for credit appraisal, commercial due diligence, syndication of funds and co-financing of projects.

Currently, UTI Bank's exposure to infrastructure projects stood at Rs3,800 crore. IIFCL has so far sanctioned Rs8,500 crore for 46 projects.
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