Rupee gains
Mumbai: The rupee moved up by almost 15 paise due to selling of dollars by banks on Wednesday. The rupee opened at 44.40/42 and closed at 44.29/30 against Tuesday's close of 44.45.

In forwards, the 6-month closed at 3.80 per cent (4.67 per cent) and the 12-month ended at 3.05 per cent (3.64 per cent).

Bonds: Bond yields were range bound with the 10-year benchmark government paper trading between 7.61 per cent and 7.62 per cent. Volumes were low due to tight liquidity and high call rates.

Traded volumes on the order matching system were Rs690 crore (Rs1,150 crore).

G-secs: The 7.59 per cent-10 year-2016 paper opened at Rs98.81 (7.62 per cent YTM) and closed at Rs99.79 (7.62 per cent) against the previous close of Rs99.74 (7.63 per cent).

The 8.07 per cent-11 year-2017 paper opened at Rs103.16 (7.61 per cent YTM) and closed at Rs103.15 (7.61 per cent YTM) unchanged from the previous close of Rs103.15 (7.62 per cent YTM).

Call rates: Call rates rose to a new high of 12-12.5 per cent (11-11.5 per cent) due to a squeeze in liquidity.

Repo rates: In the first one-day repo auction under LAF, the RBI received and accepted 44 bids for Rs23,455 crore. In the second one-day repo auction, the RBI received and accepted 19 bids for Rs4,340 crore and in the reverse-repo auction there were two bids for Rs25 crore.

CBLO: The CBLO market saw 319 trades aggregating to Rs13,399.05 crore in the 8.3-9.5 per cent range.
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Reliance General offers new health insurance policy
Mumbai: Reliance General Insurance has launched Reliance Healthwise - a health insurance policy covering hospitalisation expenses, day-care treatment and critical illness along with a cover against hospitalisation expenses incurred by a donor in case of major organ transplant.

Available in three plans – Standard, Silver and Gold – the premium for a couple for a cover of Rs 1 lakh would be Rs820 (Standard Plan), Rs900 (Silver) and Rs1,000 (Gold). Depending on the plan opted by the policy holder, Reliance Healthwise Policy will offer variable features.

Pre-existing diseases are covered from third year onwards in Gold and Silver plans. In case the insured person contracts any of the nine critical illnesses mentioned in the policy, the sum insured under the policy is doubled to meet hospitalisation expenses.

If a person wishes to cover his entire family, he can choose the Family Floater Option. In case of an emergency, the sum insured is made available to each member unlike policies where the total cover may be, say Rs4 lakh, but is spread as Rs1 lakh on four members and no individual member can avail benefit beyond Rs1 lakh.

Other benefits are daily hospitalisation allowance for a maximum period of seven days, nursing allowance for a maximum period of five days, reimbursement of charges towards local road ambulance services, recovery benefit of Rs10,000 in case of hospitalisation for more than ten consecutive days, allowance towards expenses of an accompanying person at the hospital/ nursing home for a maximum of five days and reimbursement of cost of health check-up at the end of a block of four years, provided there were no claims reported.
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