One hopes in his next term, Narendra Modi will take up the mission of inculcating respect for following rules in Indians as a mission. Therein lies the chance for India to become a developed country, asserts Colonel Anil A Athale (retd).
Assuming the private bank issues 20 billion shares at Rs 10 apiece (with face value of Rs 2 each), the total capital raise will be Rs 20,000 crore. And for the 49 per cent stake, SBI will need to put in about Rs 10,000 crore.
According to the RBI proposal, companies can now take the ECB route for raising 10-year funds which is capped at five years now.
'To the believers of crypto regulations, I have only one question to ask, how will you regulate it?'
Global retail giants, including IKEA, Walmart and Carrefour, are studying the finer details of India's relaxed foreign direct investment norms for the sector as they look to tap opportunities in the country.
The Cabinet is likely to consider revised norms for enhanced foreign direct investment limit of up to 74 per cent in telecom sector and envisaging strict security conditions for the companies.
The government had first mentioned raising foreign direct investment ceiling in insurance sector to 49 per cent from the current 26 per cent in the 2004 Union Budget and introduced a Bill to do so over a year ago.
The Department of Telecommunication is understood to have sought three months time from the Prime Minister's Office for bringing out revised guidelines for foreign direct investment to sort out security issues.
The government has relaxed the norms for allowing foreign direct investment (FDI) in the construction development sector. It is expected the move will boost affordable housing projects and smart cities across the country.
'As our per capita income increases and various demographic segments emerge, the need for various kinds of protection and risk covers will become even more explicit.'
India's national commodity exchanges will have to now wait longer for the government nod for foreign direct investment.
Bharat Petroleum Corp Ltd, which is expanding its Mumbai refinery to 12 million tonnes, will invest another Rs 1200 crore (Rs 12 billion) to produce auto fuel compliant with Euro-IV emission norms.
It is alleged that the company floated 32 subsidiaries in several tax haven countries to bring foreign funds to India through sham transactions.
India has not made the giant leap that was needed.
The automobile sector is considered a good indicator of economic health. It has a very long value chain, from primary materials, like metals, glass and plastic, to value-added high-end electronic components, specialised alloys, and software.
Small scale drug makers fear that they may have to shell out anything between Rs 20 lakh (Rs 2 million) to Rs 1 crore (Rs 10 million) for acquiring land and equipment as mandated by the new GLP.
Market regulator SEBI on Tuesday said it would ease norms for public offers and delisting of shares shortly, but step up market surveillance.
The government on Friday said the foreign direct investment norms in the retail sector would be liberalised further to ensure that investment flows into post- harvest agriculture activities.
Despite the romance around the car and its early models, Fiat in India will also be remembered as a brand that frittered away the first mover advantage, says Shally Seth Mohile.
At the same time, the survey also suggested broadening the long-term debt markets by liberalising the investment norms for insurance and pension funds and said that the government could consider a guarantee mechanism for credit enhancement of long-term infrastructure debt.
This includes distancing themselves from the new and emerging super-critical technology.
In a placatory move, the labour ministry also said it was contemplating permitting withdrawal of all accumulations by Employees' Provident Fund Organisation's subscribers on grounds like purchase of house, serious illness, marriage and professional education of children.
Hong Kong-based Hutchison Telecom Limited is expected to submit details of loans to two Indian minority shareholders this week to the finance ministry, which is looking into alleged breach of foreign direct investment norms in Hutch-Essar.
The revised version of the FDI policy, which will be released on March 31, is expected to do away with Press Note 1, 2005, to bring in the above-mentioned change.
Besides, the quantum of FPI investments via P-notes dropped to 3.5 per cent during the period under review from 3.8 per cent in the preceding month.
If 4,000 workers could work round the clock for the construction of the new Parliament building, then there is no reason why all infrastructure projects too cannot follow that model, asserts Dr Sudhir Bisht.
According to the Press Notes 2, 3 and 4 of the department of industrial policy and promotion, for a company or entity to be treated as Indian, foreign investment, including American and global depository receipts, foreign currency convertible bonds, convertible preference shares and from non-resident Indians, in it should be less than 50 per cent.
At the heart of the issue is the way e-commerce is defined in the current draft policy.
An investor would pay much less when he invests through a registered investment advisor than a distributor.
Capital gains exemption limit and a steep reduction in the highest surcharge will empower the masses with enhanced liquidity flow that can be invested in real estate, points out Dhaval Ajmera.
It is a toss-up between liquidity and higher returns; if the tenure is more than three years, FMPs score.
The final guidelines should be there in 3-4 months.
After 2015, all re-structured assets will be treated on a par with non-performing assets, requiring the same level of provisioning.
The finance ministry is learnt to have raised a serious objection to the proposed relaxation in the foreign direct investment norms in restricted sectors such as telecom and insurance.According to sources in the government, in a meeting of a group of ministers on Tuesday, the finance ministry representatives argued that the proposed relaxation would effectively remove the current limits in the respective sectors. Sources said senior members of the GoM also objected.
It has brought down the minimum capital requirement to $5 million from $10 million.
© 2026 Rediff.com - Investor Information - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances