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OVERSEAS BORROWINGS
Canara Bank to finalise pricing for global issue
Public sector Canara Bank's pricing for its international capital issue of $300 million is likely to be closer to 100-125 basis points over the London Interbank Offered Rate (LIBOR). Six-month LIBOR is currently about 5.25 per cent. High-level ... More

OUTSOURCING
RBI bars banks from outsourcing core functions
Banks should not outsource core management functions, including internal audit, compliance functions and decision-making functions, the Reserve Bank of India on Friday. The decision-making functions that may not be outsourced include ... More

FOREX
CPI(M) seeks debate on fuller capital account convertibility
The Communist Party of India (Marxist) politburo has expressed "serious concern" that the Reserve Bank of India has initiated the implementation of the recommendations of the Tarapore Committee on fuller capital account convertibility despite ... More

Forex reserves rise $939m
Forex reserves rose $939 million to $167.092 billion for the week ended October 27. In the previous week, reserves went up by $1.202 billion to $166.153 billion. Foreign currency assets increased by $932 million to $160.236 ... More

Re gains 7 paise on FII inflows
The rupee strengthened by around seven paise against the dollar on Friday on the back of FII inflows into the stock markets. "Since August there has been a good amount of FII inflows, which has helped the rupee," said a dealer at ... More

CREDIT POLICY
Inflation: `No need to revisit monetary policy'
The Reserve Bank of India Governor, Dr Y.V. Reddy, on Friday said that there was no need to "revisit" the existing stance (monetary policy stance) on inflation in the light of the latest inflation data released here on Friday. The ... More

NBFCS
Banks cannot hold more than 10% stake in NBFCs
Rule won't apply to investment in housing finance cos: RBI More

HOUSING FINANCE
More demand for home loans in non-metros
The top Tier-II and Tier-III cities that are showing growth include Cochin, Coimbatore, Belgaum, Shimoga and Gulbarga, says Mr Prashant Chaturvedi, CFO, Dewan Housing Finance. More

GENERAL INSURANCE
Chidambaram launches NIC mediclaim policies
`Insurance cos should adopt innovative marketing strategies' More

FINANCIAL MARKETS
Hedge funds can become a source of risk: Reddy
The Reserve Bank of India Governor, Dr Y.V. Reddy, said on Friday that hedge funds could become a source of risk for financial markets and ought to be looked at carefully. "The way hedge funds are operating now, they could be a source of risk," ... More

HUMAN RESOURCES
`Extend rural stint mandate to other staff'
More

GOVT BONDS
Bond prices fall 29 paise
Bond prices dropped sharply by around 29 paise (yields went up by four basis points) on tight liquidity. Total traded volume on the order matching system decreased to Rs 2,585 crore (Rs 4,810 crore). Inflation has inched up to ... More

SHORT TERM INSTRUMENTS
Call rates remain unchanged
Call ruled unchanged between 6.9 per cent and 7 per cent. In the first three-day reverse-repo auction under LAF, the RBI received and accepted three bids amounting to Rs 365 crore. There were no repo bids. In the second three-day ... More

T-bills auction
The RBI has announced the auction of 91-day treasury bills and 364-day T-bills for November 8 based on multiple price auctions. The notified amount for the 91-day T-bills is Rs 2,000 crore, of which Rs 1,500 crore will be under ... More

FIXED DEPOSITS
Step up deposit mobilisation efforts: Rakesh Mohan
Growth process exhibiting signs of sustainability along with financial stability More

EVENTS
Govt plans fiscal measures to contain inflation
Chidambaram concerned over `very high' credit offtake in some segments More

Bancon 2006: Sidelights
The afternoon sessions at Bancon 2006, although packed to capacity and with about hundred standing, saw a couple of bankers catching up on their sleep. The sumptuous food, dim lights and perhaps the familiar ground covered by speakers combined to ... More

In defence of track record
In what seemed like a studied response to the Finance Minister's plea for more lending to poor, in his keynote address in the morning, bankers provided a strong defence of their track record at the first session on `Inclusive growth of banks'. ... More

CO-OPERATIVES
`States must speed up co-op credit revamp'
Educate public that micro finance comes at a cost: Chidambaram More

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