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Top Stories- October 2007

RBI announces the Mid term Review of its Annual Policy Statement for 2007-08 on October 30, 2007. Bank Rate, Repo Rate and Reverse Repo Rate kept unchanged. However CRR increased by 50 basis points to 7.5 per cent effective fortnight beginning November 10, 2007.... Click here

The Reserve Bank of India on 29th October 2007 released the document “Macroeconomic and Monetary Developments: Mid-Term Review 2007-08” to serve as a backdrop to the Mid-Term Review of the Annual Policy Statement for 2007-08 .... Click here

Shri G. Gopalakrishna and Shri H.R. Khan have been appointed Executive Directors of the Reserve Bank of India w.e.f. October 26, 2007. Shri G. Gopalakrishna has been given charge of Department of Non-Banking Supervision, Foreign Exchange Department, Department of Expenditure and Budgetary Control, Premises Department and Customer Service Department. Shri H.R. Khan has the charge of Department of External Investments & Operations, Internal Debt Management Department and Department of Government and Bank Accounts.

The risk and compliance operating models of many banks are fragmented and inefficient, as per a survey...Read more

RBI has laid down specific fit and proper criteria for elected directors on the boards of nationalised banks...Read more

US Fed cut federal funds interest rate by a quarter percentage point to 4.5 per cent, as widely expected...Read more

Securities and Exchange Board of India has revised guidelines on Offshore Derivative Instruments (Participatory Notes) ...Read more

There has been sharp decline in the merger and acquisition activities by Indian firms in international market in the second quarter...Read more

TowerGroup estimates that by the close of 2007, over 50% of U.S. small businesses will leverage the online banking channel...Read more

Reserve Bank of India has amended guidelines on asset liability management (ALM) system ...Read more

According to a recent sigma study, bancassurance is on the rise, particularly in emerging markets...Read more

In addition to DSAs/DMAs, banks will also have to register their call centres, who make solicitation calls as Telemarketers with DoT...Read more

Reserve Bank of India has set up a Committee on Customer Services to look into customer services provided by RBI directly or through banks...Read more

Bank of America has announced an infusion of US$83 million (Rs 330 crore) into its India operations...Read more

Reserve bank of India has amended some of the Anti-Money Laundering guidelines for Authorised Money Changers...Read more

Flexible exchange rates can be useful to manage a booming economy like India, according to Managing Director of IMF...Read more

Basel Committee has underscored the importance of implementing the Basel II capital framework, strengthening supervision and risk management practices...Read more

Indian mutual funds With 30% CAGR, will grow to Rs.9.50 Lakh Crore By 2010...Read more

Fortis, RBS, Santander and RFS Holdings have declared wholly unconditional the offer for ABN AMRO...Read more

Reserve bank of India has allowed exporters to get interest on Exchange Earner Foreign Currency Accounts...Read more

Reserve Bank of India has issued new guidelines on purchase and sale of Non Performing Assets (NPA) by banks...Read more

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