Pressure on UTI to hike US-64 repurchase rate
The finance ministry has advised the Unit Trust of India to step up the repurchase price of US-64 units in November. The ministry also wants the trust to maintain its 20 per cent dividend on its flagship scheme.

IDFC not to go ahead with Rs 400 cr maiden bond issue
The Infrastructure Development Finance Company has decided to call off its proposed Rs 400-crore maiden bond issue scheduled for this month. IDFC's fund requirement will, instead, be met by borrowing from State Bank of India's Resurgent India Bond kitty, sources said.

SBI Act clause hinders subsidiaries' share dematerialisation
State Bank of Travancore and State Bank of Bikaner and Jaipur shares' dematerialisation is facing a roadblock as a State Bank of India (Subsidiaries Banks) Act, 1959, clause says that no person can acquire shares in excess of 200 units in any of the bank's subsidiaries.

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