Rupee gains
Mumbai: The rupee gained by around 10 paise on Tuesday against the dollar on strong dollar inflows. The rupee opened at 40.61/63, touched an intra-day high of 40.52/54 and finally closed at 40.57, against Monday's close of 40.67/68.

Traders said nationalised banks were seen buying dollars during the day, which cut into the rupee's gains partially.

In forwards, the six-month premium closed at 4.13 per cent (4.08 per cent) and the 12-month was unchanged at 3.66 per cent.

Bonds: Bond prices fell on Tuesday by about 10 paise (yields went up by two basis points) on profit booking by investors.

The market players fear the announcement of an MSS auction by the RBI next week said a dealer at a private bank. The volumes on the NDS-order matching system were at Rs2,280 crore (Rs5,160 crore).

G-secs: The 8.07 per cent-10 year-2017 benchmark paper opened at Rs99.82 (8.10 per cent YTM) and closed at Rs99.73 (8.11 per cent YTM) against Rs99.81 (8.09 per cent YTM) on Monday.

The 7.49 per cent-10 year-2017 paper, which is currently most active, opened at Rs95.70 (8.13 per cent YTM) and closed at Rs95.56 (8.15 per cent YTM) against Monday's close of Rs95.72 (8.12 per cent YTM

Call rates: The call rate closed lower at 7.60-7.80 per cent (7.9-8.1).

Reverse repo: In the first one-day repo auction under LAF, the RBI received and accepted one bid for Rs225 crore. There were no bids in the reverse-repo auction. In the second one-day repo auction, it received and accepted 12 bids for Rs5,055 crore. In the second one-day reverse repo, it accepted and received two bids for Rs 95 crore.

CBLO: The CBLO market saw 416 trades aggregating to Rs25,546.80 crore in the 7.22-7.90 per cent range.
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Union Bank launches biometric cards
Mumbai: Union Bank of India (UBI) has launched biometric cards to facilitate `door step banking' in rural areas. A biometric card is embedded with an electronic chip and is the same size as a credit or debit card. It uses the customer's fingerprint as a bio-password card and also serves as an e-passbook to store data of all transactions.

UBI has tied up with Financial Information Network and Operations Ltd (FINO) and Cashpor Micro Credit to launch a pilot project in Chahania Block in Chandauli district, Uttar Pradesh, said a press release.

The bank has so far issued 1,000 smart cards in four villages and aims to issue 5,000 such cards initially. FINO will provide technical support, which will enable the bank to leverage on technology to serve its customers. Union Bank of India also has financial stake in FINO.
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