Gold and silver prices reached new historic highs in the bullion market. Standard gold rose by Rs 215 to close at Rs 19,665 per 10 grams, while pure gold rose similarly to Rs 19,760. Silver ready jumped by Rs 1,090 per kg to Rs 37,910. The Reserve Bank of India is likely to raise interest rates for the sixth time this year, with the repo rate seen reaching 6.5% and reverse repo at 5.5% by the end of March 2011 due to high inflation. State Bank of India expects government approval for its Rs 20,000 crore rights issue proposal within the next two months, allowing it to fund business plans without diluting government equity.

2.  Gold prices shot up further at the bullion market.
 Silver raced ahead to touch a new historic high.
 Standard gold (99.5 purity) spurted by Rs 215 per 10
grams to close at Rs 19,665 from closing level of Rs
19,450.
 Pure gold (99.9 purity) also rose by a similar margin to
end at Rs 19,760 from closing of Rs 19,545.
 Silver ready (.999 fineness) jumped by a hefty Rs 1,090
per kg to finish at Rs 37,910 from previous overnight
closing level of 36,820.

3.  Maharashtra Chief Minister Ashok Chavan has offered to
resign.
 Gandhi for discussions amidst reports that she was deeply
upset over the entire affair.
 Three of the chief minister's relatives were allotted flats in the
Adarsh Group Housing Society meant for the families of Kargil
war victims.
 The Congress high command appears to be upset with Chavan.
 Mother-in-law, Sister in law and Brother in law, were among
the 103 members of the controversial Adarsh Housing Society

4.  An increase in interest rates for non- residents' deposits
made in Pound Sterling and Euro currencies.
 NRIs can earn interest at 2.51 per cent to 3.20 per cent on
Euro currency.
 On Pound Sterling deposits will be from 2.48 per cent to
3.16 percent.
 First Consumers National Bank (FCNB) rates come into
effect from November 1.
 Rates hike on GBP and Euro deposits are between 0.01
per cent to 0.24 per cent across maturities.

5.  The Reserve Bank of India (RBI) is likely to raise rates for
the sixth time this year.
 The RBI's key lending rate-
- the repo rate , at the end of March 2011 is seen at 6.5
percent.
- the reverse repo rate , or borrowing rate, is seen at 5.5
percent.
 Due to the sticky nature of inflation.

6.  It expects government approval for the Rs 20,000 crore
rights issue proposal in the next two months.
 The actual issue could take place before the end of
financial year (2010-11).
 The fund raised would enable the banking behemoth to
fuel its business plans.
 A rights issue will not normally lead to a dilution of
government equity in SBI.