Existing guidelines do not bar defaulters from participating in the divestment process, the Rajya Sabha was informed.
As many as six merchant bankers including UTI Bank are in the fray for a government mandate to act as advisors for the privatisation of Mineral Exploration Corporation.
Manoj Vaish on Saturday took charge as Managing Director and CEO of the country's leading commodity exchange MCX that is under the regulatory glare following troubles at the promoter group.
The government will give about Rs 495 crore (Rs 4.95 billion) to IDBI as part of a ADB line of credit and restructuring its liabilities.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
The overdues of Essar group as reported by ICICI, IDBI, IFCI and the RBI totaled Rs 1,039 crore, Minister of State for Finance and Company Affairs Anandrao Adsul said Tuesday.
Regulator seeks clarification on transfer of convertible debt after merger
The Reserve Bank on Friday set up a three-member committee under former Governor Bimal Jalan to scrutinise applications for new bank licences, which are expected to be awarded by January.
More steps are necessary to accelerate speed.
The report contains names of entities eligible for bank licences. It was not immediately known how many applicants have been shortlisted by the high-level advisory panel.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Gaurav Garg, Head of Research, CapitalVia answers readers' stock market queries.
Last month, the Bimal Jalan panel, which scrutinised applications for new bank licences, submitted its report along with shortlisted entities to the RBI.
Other members of the high-level advisory committee are former RBI Deputy Governor Usha Thorat, former Securities and Exchange Board of India Chairman C B Bhave, and Nachiket M Mor, Director of the Central Board of Directors of RBI, Governor Raghuram Rajan said.
The bourse's valuations may get a boost, as it gets set for its OFS of about Rs 10,000 crore.
A section of the media on Thursday reported, quoting an unnamed EC official, that it may not allow RBI to go ahead with the plan before the polls and that they need more clarity from the Mint Road on certain aspects.
The broader markets are, however, outperforming the larger peer.
The Reserve Bank on Wednesday said it plans to issue new bank licences around January, "consistent with the highest standards of transparency and diligence."
In the broader markets, the BSE Midcap and Smallcap indices were up 0.5% each
Based on this screening, the committee may weed out applications that do not meet the eligibility yardstick or the 'fit and proper' criteria for securing a licence.
A parliamentary panel on Friday opposed the new bank licences to corporate houses and voiced concerns over the discretionary power vested with RBI for applying 'fit and proper' criteria for deciding on applications.
The RBI has agreed to consider the application of India Post in consultation with the government.
The 30-share Sensex ended up 142 points at 29,462 and the 50-share Nifty gained 26 points to end at 8,895.
The scrutiny is expected to be over this month itself.
The board will have to take a decision that he cannot remain a permanent director and also have to decide to whether to amend the article of association of the exchange in this regard.
Ajit Mishra, Vice President, Research, Religare Broking, answers readers's queries on stocks they own or want to buy.
Ajit Mishra, Vice President, Research, Religare Broking, answers readers' queries on stocks they own or want to buy.
DFS writes to departments that haven't responded to RBI's request for information.
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The RBI has accepted the application withdrawal request, according to the statement.
Licence winners are expected to be announced by the first quarter of 2014.
The 30-share Sensex ended higher by 30 points.
'We aren't so unreasonable as to demand that he should have fully reversed Indira Gandhi's worst economic legacy, bank nationalisation.' 'But he could have made a beginning by selling off the two most stressed small public sector banks, and then announced that each year for the next 10, one government bank with the most messed-up balance sheet will be sold.' 'It would have electrified the markets, shocked his other banks into better behaviour, and marked his name among the great reformers,' argues Shekhar Gupta.
Exuding confidence in setting up a profitable banking venture, industrialist Anil Ambani on Tuesday said the proposed bank will help lower Reliance Capital's debt to one-fourth of current levels and would be listed as a separate entity in three years.
Markets recorded their biggest single-day fall since August 1 amid growth concerns in the euro zone.
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