Sebi has proposed to examine the margining system of stock market, in an effort to make the system easier for retail investor.
Banking industry sources said data has been sought both on the source and deployment of funds by NBFCs, both those that accept deposits and those that don't.
According to sources, this is quite rare since most of the requirements of the banks are first met through call market borrowings and then through the repo window of RBI . Under the repo, banks borrow funds from RBI by pledging government securities.
The committee on financial inclusion, headed by C Rangarajan, the chairman of Prime Minister's Economic Advisory Council, has recommended that the profits transferred to their reserves by such banks should be exempted from tax till the banks achieve the standard capital adequacy ratio (CAR).
At a recent meeting of the high level coordination committee of regulators on capital markets, the RBI clarified that no approvals for VCFs will be issued since the Finance Ministry is reviewing the policy for investment in the realty sector for both foreign direct investment (FDI) and portfolio investments by foreign institutional investors.
According to a source close to the development, the investment advisory committee of the Insurance Regulatory and Development Authority has suggested far-reaching changes to make the investment norms more flexible, while adhering to the existing prudential investment guidelines.
In a move to check wild swings in the share prices of newly listed small-cap companies, the Securities and Exchange Board of India is considering a price band (circuit filter) for the first couple of days after listing.
Some sections within the government feel that it is possible to treat them as separate entities as is done in case of World Bank and its private investment arm -- the International Finance Corporation. However, RBI is of the view that there cannot be a one-off approval and Temasek and GIC cannot be considered as separate entities as they belong to the same government -- the government of Singapore.
Irda is planning credit rating for insurance companies. Such a move will enable the regulator to grade insurance companies.
RBI has come down heavily on banks and dealers that are holding government securities portfolio.
The move follows concerns raised by the Reserve Bank of India. According to sources, the central bank is concerned that most sovereign wealth funds operate in a non-transparent manner.
The ministry of finance does not want a single entity to own more than five per cent in a CIB. This view is backed by the Reserve Bank of India.
The Reserve Bank of India has finally cleared the long-pending transfer of Thailand-based Surachan Chawla's 38 per cent stake in Catholic Syrian Bank.
The finance ministry is expected to announce the abolition of tax deducted at source (TDS) on corporate bonds in Budget 2008-09, official sources told Business Standard.
The International Monetary Fund says India will clock growth of 8.4 per cent in the coming year.
The Reserve Bank of India's observation that developmental expenditure in better-off states like Gujarat, Maharashtra and Goa is declining as a percentage of gross state domestic product (GSDP), whereas such expenditure is rising in underdeveloped states like Bihar and Jharkhand, has invited criticism from analysts.
Reserve Bank of India set to bring transparency in credit card operations.
Government funds spent on productive asset creation through programmes and schemes are termed "Plan" expenditure, while "non-Plan" is a generic term that refers to all expenditure (including establishment and maintenance activities) of the government not included in the Plan.
Companies hit by the sudden appreciation of foreign currencies such as Swiss franc and yen are finding it difficult to restructure their currency options as banks have become cautious in extending fresh credit limits to them.
These measures, under preliminary discussion with the central bank, come soon after Hexaware Technologies, an IT services company, recently said it was providing Rs 80-100 crore due to losses allegedly on account of foreign exchange transactions fradulently entered into by one of its officials with banks.
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