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.
Economic Affairs Secretary R Gopalan, who retains charge of financial services, has shown an ability to grasp ground realities in pushing critical reforms.
Compared to other emerging markets, accelerated growth in the domestic economy provided greater business opportunities to foreign banks in India, resulting in higher profitability.
Expect rate rise pause, amid market expectations to the contrary.
Plans to outsource record-keeping to private entities.
Volatility in domestic share market acting as catalyst.
"Companies are looking for longer maturities, typically one year and above (for bulk deposits), while banks want funds for a short tenure," said B A Prabhakar, executive director, Bank of India.
Life Insurance Corporation of India, Housing Development Finance Corporation and State Bank of India together own a little over 45 per cent in IL&FS. The deal is expected to be valued around $2.5 billion.
This scheme would help salaried people, especially those working in far-flung and remote areas with armed forces and para-military forces.
The finance ministry's plan to offer basic banking licences may find few takers because of doubts over the commercial viability of the proposed business model.
Ussue will be raised at the meeting of the Central Board of Trustees of the Employees Provident Fund Organisation on Tuesday.
The president and CEO of Devas, Ramachandran Viswan-athan said, "It is puzzling to hear about such a decision, especially as we have not been intimated. We have not received any communication from any quarter, government, Space Commission or Isro."
Banks have started putting the brakes on short-term corporate loans.
Election Commission is considering an overhaul of the accounting practices of parties.
The ministry of corporate affairs - under new minister Murli Deora - has reopened for further investigation the cases of two companies allegedly involved in the unravelling 2G scam. A senior official said that the ministry was currently probing Swan Telecom and Loop Telecom.
The Central Bureau of Investigation (CBI) is looking into the funding and transactions of Datacom Services (now Videocon Mobile), which was among the firms awarded a 2G telecom licence in January 2008.
Budget 2011-12 is likely to announce significant measures to deepen the corporate bond market. Among the several measures on the government's agenda is allowing banks to provide guarantees for bonds issued by companies.
Central Board of Direct Taxes chairman Sudhir Chandra told Business Standard that the changes have been approved in principle and necessary instructions would be issued soon.
Prime Minister Manmohan Singh on Tuesday asked his economy A-team to make a concerted effort to tackle rising food prices.
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