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    • India Inc's overseas investment down 21% at $2.3 bn in Oct

      The investments were a mix of issuance of guarantees (USD 1.72 billion), loans (USD 210.94 million) and equity (USD 341.82 million). Lupin Ltd, Tata Communications, Sintex Industries, Infosys, Mahindra Holidays and Resorts India Ltd and Tata Chemicals were among the major investors overseas during the month.

    • Advances grew 4.5%, says DBS Bank India

      DBS Bank India said that there was a 4.5 percent growth in advances during the fiscal and the bank was able report a net interest income growth of 2 percent at Rs 804 crore.

    • RBI eases norms for Indian companies investing abroad

      In addition to joint ventures (JVs) and Wholly Owned Subsidiaries (WOSs), the RBI has announced similar concession for pledging of shares in case of step down subsidiary.

    • Foreign banks' WoS to be exempt from capital gains tax: RBI

      The RBI said it was receiving queries from foreign banks regarding capital gains tax and incidence of stamp duty on conversion of existing foreign bank branches into wholly owned subsidiaries.

    • RBI's foreign bank rules sets stage for more reforms: Fitch

      The Reserve Bank of India's (RBI) recent steps aimed at subsidiarisation of domestic foreign banks recognises the need for greater foreign participation in a growing Indian economy, says Fitch Ratings.

    • Foreign banks await clarity before rejoicing RBI's WOS move

      The income tax has already notified that the transition to a subsidiary will be neutral on capital gains tax. But bankers say there are yet to receive any forbearance on stamp duty, which is a state subject.

    • RBI releases guidelines for foreign bank subsidiarisation

      The new framework requires foreign banks to create separate legal entities, having their own capital base and local board of directors.

    • Tata Steel board meet today; stock gains

      Tata Steel has board meeting today to consider a proposal on restructuring of Centennial Steel co (WOS), reports CNBC-TV18. It touched an intraday high of Rs 635.35 and an intraday low of Rs 629.65. At 09:38 hrs the share was quoting at Rs 633.50, up Rs 3.80, or 0.60%.

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