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.
While FIIs remain bullish on India's long-term prospects, they feel the recent rate increases by RBI have put the markets at an additional risk in the near term and delayed the break out from the current range.
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.
Both the main stock exchanges have set in motion a separate platform to generate more interest and more liquidity for the small and medium enterprises (SME) segment.
"The tacit understanding between people now is that a question should be looked upon as a statement," says an institutional dealer.
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.
Decks being cleared to ensure that the Mohan Gopal report is restored in the June 27 board meeting.
The UK-based subsidiary of the Tatas is also keeping its options open for using its India assembly plants for manufacturing cars that can be exported to other countries.
Sebi whole-time members M S Sahoo and K M Abraham will both retire in July. While Sahoo's three-year tenure will end on July 13, Abraham will retire on July 21.
While listing can be good, success depends on sentiment and performance.
Financial year 2010-2011 saw high wealth erosion for investors in the IPO market.
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