In advanced economies where the financial system is more matured, the form of shadow banking is more of risk transformation through securitisation.
The Securities and Exchange Board of India (Sebi) has just released a proposal to alter the regulations pertaining to the sponsor system for mutual funds. One of the reasons for the proposed changes is that there are two conflicting regulations that need to be clarified. The other reason is that the sponsor system may itself be outdated as it stands, and the proposed changes would allow new entities such as private equity funds and portfolio management services to enter this space.
Bonuses are typically commensurate with deal activity in any given year. Investment banks, on average, pocket 2-3 per cent as fees for managing an IPO and 1.5-2 per cent for handling QIPs.
With the Russia-Ukraine war roiling financial markets globally, the government may defer the mega IPO of LIC and wait for an opportune time to get the maximum value of its holding in the state-owned insurance behemoth, sources said. "It's a full blown war now so we will have to assess the situation for going ahead with the LIC IPO," a government source said. Finance Minister Nirmala Sitharaman, too, had indicated review of the IPO in view of the evolving geopolitical situation.
Independent market analyst Ambareesh Baliga points out the red flags that retail investors should not have ignored and lists three scenarios -two of these scenarios offer a glimmer of hope to retail shareholders of Yes Bank - that could play out in the coming days.
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Sebi keen to attract larger number of retail investors
IDBI Bank had to sell its MF arm after being acquired by state-owned insurance behemoth Life Insurance Corporation since LIC already had an AMC.
Reserve Bank Governor Shaktikanta Das on Friday said the rupee is holding up relatively well when compared to the currencies of emerging market peers and advanced economies. Days after the domestic currency breached the 80-level against the dollar, Das said Reserve Bank of India (RBI) has zero tolerance for volatile and bumpy movement in the rupee and added that the central bank actions have helped in smoother movement. He said RBI has been supplying US dollars to the market to ensure adequate supply of liquidity and also clarified that the central bank does not target a particular level for the currency.
It was unclear how bankers were deciding which jewellers to support
S&P upgraded India's credit outlook to 'stable' from 'negative' earlier.
When Vineet Mittal first got into solar power, sometime around 2009, and was planting solar panels in Gujarat, renewable energy looked like a sector ripe for startups. Renewables were clearly the future of energy, and the big boys - Mukesh Ambani's Reliance, Adani Group, and the Tatas - were focusing much more on coal and petroleum. Little did Mittal know that things were going to change drastically.
IT, FMCG and manufacturing sectors are less attractive to foreign portfolio investors
The 30-share Sensex ended down 66 points at 28,438 and the Nifty ended down 15 points at 8,633.
'RBI was focusing on public sector banks perhaps thinking that private sector banks are managed efficiently while PSU banks are not.' 'Now, RBI has to focus on private sector banks too.'
'The variables to watch include the monsoon, resolution of NBFC liquidity issues, GST collections, and NPA resolution.'
Macroeconomic management is usually a lot more comfortable with lower fiscal deficits. The sooner we get there, the better for the economy, says former Chief Economic Adviser to the Government of India Shankar Acharya.
Sensex gains 2.4%, Nifty crosses 7,000; investors feel exit polls have vindicated their stand
After years of disappointing growth, the economy and the markets are poised for a breakout, notes Akash Prakash.
SBI set to buy residential properties of Air India in south Mumbai
Jaitley assured that both the banking system and the government will make the resources available to them.
Senior officials in the MF industry say while the finance ministry and regulators communicate regularly, this is one of the very few instances in many years where an issue between the two has come out into the open.
Air India sale will give a boost to India's privatisation drive, the Economic Survey said on Monday, as it suggested redefining the public sector role in business enterprises to encourage private participation in all sectors. The government earlier this month handed over ownership rights in national carrier Air India to Tata Group for Rs 18,000 crore. The amount includes the takeover of the debt burden of Rs 15,300 crore and another Rs 2,700 crore in cash.
Participants are keenly waiting for the January IIP.
PSBs were required to bring down government shareholding to at least 75 per cent, to comply with the amended Securities Contract (Regulations) Rules by August 2017.
'It will send a very strong signal that it is now our time to grow.'
Despite the rating agency CARE withdrawing the ratings assigned to the bank facilities of FIPL "with immediate effect" following the receipt of a no-objection certificate (NOC) from the banks, Modi's company received uninterrupted letters of undertaking (LoUs) from PNB, which were honoured by other banks until a few weeks ago.
Trade sanctions on Russia by Europe and the US offer an opportunity for India, but the devaluation of the rouble may play spoilsport
Global rating agency Standard & Poor's today said 2014 will continue to be a challenging year for the asset quality and profitability of the country's banks as the economy is expected to make a tepid recovery.
Excerpted from Sahara: The Untold Story by Tamal Bandyopadhyay.
The S&P BSE Sensex shed 42 points to close at 25,838 and the Nifty50 lost 13 points to end at 7,899.
After enduring volatility for the first two months of calendar year 2016 (CY16), global equity markets have recouped some of the losses in March. Jigar Shah, chief executive officer, Maybank Kim Eng Securities, believes the next triggers for the rally will come from a soft landing in China and no recession situation in the US.
Reminiscent of the past two years, the market has made positive strides ahead of the Union Budget 2023-24 (FY24). The benchmark National Stock Exchange Nifty has gained 1.8 per cent in the last month. Typically, markets tend to gain ahead of the Budget as investors build in optimism.
It has been a decade since Shyam Srinivasan took over as managing director and chief executive officer at Federal Bank. He wants to ramp up the bank's unsecured lending going ahead even as it homes into the space vacated by competition. Reappointed for a fresh three-year term as the bank's helmsman, he spoke to Hamsini Karthik on the plot ahead.
Policies to break down the business group format are far more likely to be effective, argues Simon Commander.
The banking, oil and metal sectors were the top sectoral losers on the BSE, while IT stocks rendered support at lower levels.
As lobbying and counter-lobbying intensify, right now, it looks like a T20 match, discovers Tamal Bandyopadhyay.
The S&P BSE Sensex dropped 207 points to end at 25,230.
10 non-bank and non-finance stocks from the BSE500 Index universe that offer an optimal blend of low valuation, reasonably robust revenue and earnings growth in recent quarters, a strong balance sheet, and most importantly, positive cash flow from their operations.
The company will raise $1.8 billion for the under construction and contracted portfolio of 12 GW, which includes the country's first manufacturing-linked solar power plant of 8 GW.
The broader Nifty, after touching a high (intra-day) of 10,555.50 points, finished at 10,539.75, up 84.80 points, or 0.81 per cent.
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