RBI might have to change its decision of not granting licenses to new groups that have exposures to the real estate sectors.

Earlier, in a discussion paper RBI had indicated that it would be difficult for groups having exposures to realty sectors to obtain new banking licenses.

For its FPO or follow-on –public offer expected to be issued in this fiscal, Shipping Corporation of India will be filing its prospectus as stated by SCI chairman and managing director Mr. S Hajara. The FPO will see ten percent disinvestment by the central government as well as an issue of ten percent of fresh equity shares.

Exporters are shouting out loudly asking the RBI to intervene as the Indian currency rupee, touched its higest point since six months at forty four decimal three eight versus dollar.

Several traders are worried about India’s stance in the raging currency war where major economies of Brazil, South Korea, China and Switzerland are devaluing their currencies to be in the competition.

The Central Bank has decided not to intervene in the foreign-exchange market for the eleventh straight month as the Indian currency; rupee which is relatively strong is helping to reduce inflation. Rupee, in the month of September became the second best performer.

Small Industries Development Bank of India (SIDBI) and IDBI bank on Friday have signed a new letter of consent for jointly financing MSMEs or micro, small and medium enterprises for increasing the flow of loans in this sector.

The Punjab National Bank (PNB) and the State Bank of India (SBI) have increased their deposit rates by 0.75 per cent and 0.5 per cent respectively for all maturities as they have an abundant availability of funds for lending. The increase in rates will come into effect from Friday for the banks.

Leading business process outsourcing (BPO) provider, Firstsource Solutions has bagged a five year outsourcing contract from UK-based banking major Barclay Plc's unit Barclayscard.