IIFCL Chairman S K Goel says the recommendations are premature, as the state-run lender's role as a guarantor for long-term funds would depend on the success of the Credit Enhancement Scheme and Infrastructure Debt Fund.
Besides Deepak Parekh, who heads financial institution HDFC, other committee members include key representatives of major banks and infrastructure finance institutions.
Country's leading housing finance company HDFC chairman Deepak Parekh said on Friday that he expects interest rates to soften by 0.25-0.50 per cent if there is no hike in the cash reserve ratio.
HDFC Chairman Deepak Parekh on Thursday said RBI is expected to raise key short-term rates by 25-50 basis points later this month.
Moving quickly to stabilise the fraud-devastated Satyam Computer, the government on Sunday nominated noted banker Deepak Parekh, IT expert Kiran Karnik and former Sebi member C Achuthan to the infotech company's board.
Principal district and sessions judge P C Joshi said he will pass order on the bail plea of the ninth accused, Devang Parmar, on Thursday.
At India Economic Convention organised by India Foundation, Parekh said the country needs $1 trillion in the 12th Plan of which 47 per cent was to come from private sector, but it has not happened in the first two years of the Plan period.
From the Sensex pack, State Bank of India, HDFC, Axis Bank, HDFC Bank, Bharti Airtel, Kotak Mahindra Bank, ICICI Bank, Tata Motors, NTPC and Bajaj Finserv were the major gainers.
Telecom Secretary R Chandrashekhar on Thursday said 100 per cent foreign direct investment (FDI) in telecom would not be possible before the 2G auction.
Raising concern about over-dependence of Indian capital markets on foreign institutional investors, eminent banker Deepak Parekh has said that something needs to be done to change this pattern.
How Chanda Kochhar and her husband Deepak Kochhar find themselves in a huge controversy.
Parekh said that liquidity might be under pressure during the current period and October, but would ease by November.
Richest Indian Gautam Adani and mining baron Anil Agarwal on Sunday led India Inc in paying tributes to veteran stock market investor Rakesh Jhunjhunwala, who passed away early Sunday morning. "Extremely saddened by the untimely passing away of the most legendary investor that India has had. "Shri Jhunjhunwala inspired an entire generation to believe in our equity markets with his brilliant views.
BJP had attacked previous UPA govt over policy paralysis.
With only two days left for the final bidding process to start (9 am on April 13), the government-appointed board of Satyam Computer Services is giving final touches to the modalities. And providing the extra information the potential bidders wanted.
Satyam has initiated discussion with a host of banks and institutional investors to get funds to keep its business afloat and has pledged some of its receivables to secure funding, Parekh told reporters in Mumbai on Wednesday. Satyam's new board will meet on Thursday and the day after to discuss issues including appointments of top executives and ways to raise funds, Parekh said.
The government does not see any conflict of interest in HDFC chairman Deepak Parekh and former Nasscom President Kiran Karnik, who are directors on the board of Satyam's competitors, being on the troubled company's board.
"Cost of funds is still high, so once it comes down, we will reduce interest rates," HDFC chairman Deepak Parekh said. Parekh's comments came two days after Finance Minister P Chidambaram said 'competition from PSU banks will force lenders in private sector to cut interest rates sooner than later'.
Housing Development Finance Corporation (HDFC) Chairman Deepak Parekh on Tuesday said that interest rates may rise owing to higher inflation, but lending rates are unlikely to change in the next one month.
Most bankers on Monday ruled out the possibility of lending rates softening following RBI's move to suck out excess liquidity, but housing finance leader HDFC sees a scope for reduction."There is enough liquidity in the system, softening of lending rate could happen," HDFC chairman Deepak Parekh said. Interest rates can come down despite CRR (percentage of total deposits that banks keep with RBI) hike, he said.
A civilised society depends on having the greatest possible number of people who have a stake in society. Being a homeowner gives one a secure and direct stake in society; so that is the goal we need to work towards.
As many as 40 applicants have thrown their hats in the ring for the top job of CEO at scam-tainted Satyam, whose board meeting is scheduled for Thursday to consider the appointment.
The banking industry is hoping for more rate cuts by the Reserve Bank, which in turn, will help soften both deposit and lending rates, a top financial industry expert said.
Economists advise against it, citing international experiences; business leaders say RBI should allow move for inclusive growth.
Top business leaders to raise issues on investment, trade and the rupee
A group of prominent personalities, including industrialists Azim Premji, Keshub Mahindra and Deepak Parekh, have expressed concern over a series of scams leading to 'governance deficit', but said that national challenges like fighting corruption cannot be solved by urban protests and posturing.
HDFC Bank expects to amalgamate its home loan major parent HDFC into itself by September next year, a top official said on Friday. Both HDFC and HDFC Bank held general meetings on Friday to seek shareholder approvals for what is billed as the largest merger in Indian corporate history at over $40 billion. At the time of announcing the merger on April 4 this year, the entities had said the merger will take 12-18 months.
Polling for the 288-seat Assembly is being held in a single-phase on Wednesday.
The book, 'India Can', has received praises from top business leaders including Deepak Parekh and Nandan Nilekani.
Dr Ashok Ganguly, former chairman of Hindustan Lever and a Rajya Sabha MP, and one of the signatories to the recent open letter to the government by a group of 14 eminent people, speaks about the issues raised in the letter.
Deepak Parekh, HDFC Bank Chairman, M S Verma, former SBI Chairman, Raghuram, Professor IIM, Ahmedabad, Rajiv Lal, IDFC MD and Vinayak Chatterjee, Feedback, Infrastructure Services Chairman are members of the committee.
Following recommendations from the Deepak Parekh-headed Expert Group and taking into account comments from the public, PFRDA has categorised NPS investments into three asset classes -- E (equity), C (corporate paper) and G (government securities).
A group of prominent personalities, including industrialists Azim Premji, Keshub Mahindra and Deepak Parekh, have expressed concern over a series of scams leading to 'governance deficit'.
Giving their presentation at the CLSA investor forum, HDFC chairman Deepak Parekh, vice chairman and chief executive officer Keki Mistry and MD Renu Karnad highlighted that the competitive environment has been stable and HDFC can deliver 18-20 per cent loan growth with stable margins and asset quality.
Some are innovators, some have inherited their family business and some are at the helm of big corporate houses. They are all successful in their own stride. Can you identify these business leaders? Take this quiz to find out
Broader sentiment of lack of transparency bothers most in India Inc.
Private players may soon be roped in for developing slums under the Manmohan Singh government's ambitious Rajiv Awas Yojna.
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