The appointment of a deputy governor to the country's central bank has always been surrounded by controversy. And this time is no exception. One of the Reserve Bank of India executive directors, C Krishnan, who was called to an interview for the post, has declined to appear before the search committee. The interview was scheduled for September 9.
The issue of allowing trading in indices such as the Dow Jones and the S&P 500 on the National Stock Exchange (NSE) is being considered by the Reserve Bank of India (RBI).
According to RBI sources, the government -- which appoints deputy governors -- is of the view that it will do away with the practice of reappointment to important posts like chairman of the Securities and Exchange Board of India, RBI, National Bank for Agriculture and Rural Development.
Indiabulls has offered to sell 26 per cent of its stake in the year-old Indian Commodity Exchange to an ADAG group company.
The market regulator is working in association with exchanges and fund houses to iron out the technical aspects of such a system. According to the sources, a series of meetings have already taken place.
With a rising proportion of Non-Performing Assets in education loans, banks have approached the government, seeking protection in the form of a credit guarantee fund of at least Rs 2,500 crore.
The ministry has told the government banks to put the system in place by March 2011.
Will get powers to levy fines and penalties and allow options trading in commodities.
Banks argued that the competition to import gold on behalf of jewellers is increasing.
There are just 10 mn MF investors compared to 60 mn homes with life insurance.
The government has proposed a new regulatory architecture for large financial institutions, by establishing "a college of supervisors" comprising representatives from various regulatory agencies.
Piramal Healthcare acquired 4.36 million shares from the open markets through its two promoter companies, PHL Holding Pvt Ltd and Swastik Safe Deposit & Investment.
As the first quarter review of the credit policy approaches, voices from the market are getting louder by the day that 'baby steps' may not be sufficient to fight rising prices.
In mid-May, the European Commission released 2009 data showing carbon emission in the region had fallen 11 per cent over last year, to 1.873 billion tonnes.
Insurers say there is not enough time for them to adopt the guidelines and enforce them within the stipulated time.
The raising of key rates by the Reserve Bank of India is expected to ease the transition to the base rate mechanism, which came into effect from July 1.
Select bankers will meet RBI Deputy Governor Subir Gokarn, who is in-charge of the monetary policy department, and other central bank officials on July 12.
Government officials said the system proposed by the finance ministry, which would be akin to the mechanism followed for auction of investment rights in bonds, would result in Mint Road losing control over overseas fund raising by companies and that was RBI's major concern.
Crisil's experience is that these reports improve volumes for the companies covered.
The scaling down of the branch expansion plan is part of SBI's overall game plan to check costs.
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