The Reserve Bank of India would review its mid -term monetary policy on October 29. Some sources in the finance ministry have disclosed that the apex bank would not change the key parameters such as CRR, repo and reverse repo rates. 

The financial institutions and banks are already facing the liquidity problem and pressure from the international financial crisis. The apex bank had reduced CRR by 25 basis points to 9 per cent in July this year.

Frankfurt - A group of banks reached agreement early Friday on the details of a planned multibillion-euro bail-out for Germany's ailing mortgage lender Hypo Real Estate, sources told Deutsche Presse-Agentur dpa.

The talks revolved around how much each participant would contribute to the 35-billion-euro (48-billion-dollar) deal to save the country's second largest mortgage lender. Details were not yet available, but were to be made public during the day on Friday.

Berlin and a group of banks and insurers had proposed a plan to save Hypo Real Estate from collapse earlier this week.

Private sector lender Development Credit Bank (DCB) has introduced a new deposit scheme -- DCB Freedom 1-2-3 fixed deposit, for its customers.

The newly launched scheme will offer 10.5% rate to customers in the 375 days to three-year tenure. However, Senior citizens will receive 0.5% more rate above the card rates.
 
The bank also increased rate for 91 days deposit to 9% from 7% for deposits up to Rs 50 lakh. The new rates will come effective from October 1.

London - Nationalized British mortgage lender Northern Rock Thursday withdrew some of its savings products for new clients following a consumer rush on safe placings for their deposits, the bank said.

The measure was aimed at preventing having an unfair advantage from state ownership, it said. British savers have sought out Northern Rock, and more recently other government-backed institutions, as "safe havens" to place their deposits.

These include the Abbey National, in the process of being taken over by Spain's Santander bank, and Bradford & Bingley, whose savings and mortgage business was nationalized last Monday in a deal that saw the bank's "non-toxic" business sold to Santander.

Zurich - Swiss banking giant UBS said Thursday it managed to produce a "small profit" in the just-ended third quarter of 2008 and that its financial position is steadier with no further asset writedowns foreseen.

The brief statement came ahead of an extraordinary general meeting at which shareholders will vote on new appointments to the board of directors.

UBS chairman Peter Kurer in his remarks said 2009 would be a profitable year. He said the bank's risk positions in US mortgages had been "significantly reduced" chiefly after selling mortgage- related securities.

India's Dena Bank has informed that it has raised Rs 300 by selling lower tier II bonds to meet its future capital adequacy ratio requirements.