The Reserve Bank of India's proposed guidelines on bank executives' compensation will be extended beyond just CEOs to all senior executives in private and foreign banks, especially those involved in treasury functions.
Typically, those from the IIMs, Xavier Labour Relations Institute and Indian School of Business joined at Scale III, but graduates from other B-schools were recruited in scale II.
Low cost of funds and low credit growth have meant unprecedented levels of capital adequacy ratios (CARs) for banks.
The Securities and Exchange Board of India said it is 'closely watching' investments made by New York-based hedge fund Galleon, whose Sri Lankan founder Raj Rajaratnam was arrested for alleged insider trading on Friday.
The consensus among FIIs is valuation could be a concern going ahead, but that is still some way off.
The government is set to increase its stake in Bank of Baroda (BoB), Oriental Bank of Commerce (OBC) and Dena Bank.
The Securities and Exchange Board of India plans to tighten guidelines under which promoters make preferential allotments of warrants. The proposals include prohibiting promoters from voting at shareholder meetings at which warrant issues are put to vote and prohibiting warrant issues to promoters who did not subscribe to their earlier warrants.
The move is aimed at improving margins.
In addition, bankers also told Business Standard that they did not expect the central bank to hike policy rates or the cash reserve ratio in the third quarter review scheduled for October 27 as inflation was not rising fast though inflationary expectations were there.
BSE had been planning to list on the exchange for a while and had approached Sebi for permission to list without an initial public offer. Sebi also has to formalise norms for regulating self-listed companies. Some BSE members were keen on the listing of the exchange so that they could sell their shares.
The Securities and Exchange Board of India is now planning to enable investors to buy and sell mutual fund units through stock exchanges. Fund houses will also be allowed to sell new fund offers (NFOs) through exchanges, helping them to save on distribution costs.
Pricing worries remain, but bankers expect IPOs to raise over Rs 40,000 crore (Rs 400 billion) in the next few months.
Punjab & Sind Bank plans to offer 5% each to top institutions
Business Standard discussed the primary market scenario and changing equations in the IPO market with Enam Group chairman Vallabh Bhanshali. Excerpts:
The only thing that's clear is the October 15 deadline for the end of free third-party ATM use.
Certain provisions of the code would delay the negotiation process, increase the tax liabilities and introduce uncertainties due to the General Anti-Avoidance rules.
The government and financial sector regulators have prevailed on Insurance Australia Group (IAG) to route its investment in a general insurance venture with State Bank of India through Singapore, instead of the original proposal to bring the money through a Mauritian subsidiary.
The Companies Act Amendment Bill, which was tabled in Parliament in the Budget session that adjourned last week, has proposed to allow Indian companies to merge with overseas companies, a move that could introduce greater flexibility in cross-border merger and acquisitions.
Though the number of Japanese foreign institutional investors in India is still negligible, it's significant that 8 of the 11 registered with Sebi entered in the past year and a half
The market regulator is mulling safeguards relating to power of attorney.
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