Sources familiar with the developments said the clearance came a few days earlier. While the details of the revised structure were not known, the sources said it would remain an all-stock deal.
A host of companies started the ground work for their banking play.
Third-party sales force in financial sector dying slow death.
Despite fears of slow economic growth, the health of their unsecured assets are not so likely to be stressed.
Apart from the cheaper interest cost, the need to make local purchases and payments in the yuan has prompted a few Indian companies with Chinese operations to explore fund-raising opportunities through this route.
For home buyers in Noida Extension things have just gone worse. While banks have decided not to disburse loans to residential properties in the area, including those that had no litigation against them, builders are threatening to charge a penalty if payments are not made according to the existing contracts.
In an interview with Malvika Joshi and Somasroy Chakraborty, Madan Menon, RBS' chief executive for Singapore and Southeast Asia and head of global banking and markets in India, shares the bank's plans.
Jobless growth has found a new home - India's life insurance companies. In the last financial year, private life insurers reduced headcount by 27 per cent to achieve profitability.
Standard Chartered Bank's aim of expanding its consumer banking business in South Asia was strengthened when it convinced Sanjeeb Chaudhuri to join the bank earlier in July.
The country's largest commercial bank's SME advances grew nearly 23 per cent to Rs 119,676 crore last financial year.
RBI feels allowing foreign companies into this business may affect financial stability.
RBI slams public sector banks for the strange phenomenon of profits dipping when a new chairman takes over.
Japan's Orix Corporation, which was in talks with Reliance Industries (RIL) to sell its 23.87 per cent stake in Infrastructure Leasing and Finance Company (IL&FS), has bowled a googly.
According to sources familiar with the developments, Barclays may review several options, including the sale of its credit card operations in India.
Microfinance companies have been facing a crisis after a crackdown by the Andhra Pradesh government last year in response to allegations they were charging high rates and using coercive recovery practices.
Some banks, including ICICI, want to restructure securitised advances along with other loans. This is being opposed by Axis Bank, IndusInd Bank and YES Bank.
Bahrain has of late emerged as a regional hub for banking because of low tax rates and easy regulations. At present, 409 banks and financial institutions have operations there.
Freebies do not seem to have attracted many buyers, as both property prices and lending rates continue to remain high.
The Manila-based development finance institution has decided not to guarantee loans directed to Andhra Pradesh, where the microfinance activity has fallen sharply due to strict rules introduced by the state government in October last year.
Compared to other emerging markets, accelerated growth in the domestic economy provided greater business opportunities to foreign banks in India, resulting in higher profitability.
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