Regulator proposes mutual fund model for infrastructure debt funds.
U K Sinha, new Sebi chairman had, in an interaction with its MF division, made his view clear on the need for some moves to spur overall development for the sector, persons familiar with the development said.
Sinha said the market volatility is due to global developments.
This would allow Japanese companies to invest directly in India, rather than the current norm of coming through Singapore and Mauritius.
Sinha will take over on February 17 next year when incumbent C B Bhave's term ends
Central banks are unlikely to go for co-ordinated withdrawal of stimulus measures as it may hamper global economic recovery, a top financial services expert said on Wednesday.
The Indian economy and stock markets will continue to do well and investors will gain if they remain invested in the capital market, Unit Trust of India Chairman and Managing Director, U K Sinha, said.
Trading would be conducted during normal hours.
While stock market indices are rising, UTI Asset Management Company chairman and managing director U K Sinha says that risk appetite at the retail level is low.
The govt is likely to announce the new Sebi chief by Feb 10 as interviews for the position is over. Six people have been interviewed.
The eight-member committee under Sinha will also examine the factors affecting the timely and adequate availability of finance to the sector.
Reliance Industries Ltd chairman and managing director Mukesh Ambani met Prime Minister Manmohan Singh
The government on Wednesday said it is contemplating relaxing norms governing external commercial borrowings to enable Indian corporates access higher foreign capital at low cost.
Reacting to the announcement, MSME Minister Nitin Gadkari said clearing GST dues within 30 days will be highly beneficial for the MSME sector and will also be instrumental in increasing job opportunities.
2006 has been the year of the winners. Almost all asset classes have performed well. CNBC Awaaz spoke to a mix of experts to understand what kept the market moving.
UTI Asset Management Company will float an initial public offer by March-end 2008 to help its sponsors State Bank of India, Life Insurance Corporation, Punjab National Bank and Bank of Baroda -- offload up to 50 per cent stake.
The government expects the pension sector to overtake insurance segment once it is opened up to private players.
In his first two years, Tyagi, a Himachal Pradesh cadre IAS officer, has implemented challenging stock market reforms and taken action against high-profile corporate entities.
The next chairman at the country's largest lender could enjoy a four-year tenure.
One representative of the government as well as that of the Indian Banks' Association have been included in the expert committee which will advise the government on the new company law.
Reliance Industries' plans to raise $500 million from overseas markets may suffer a setback after the government decided to "discourage" all external commercial borrowings above $100 million.
Foreign direct investment in many other sectors may be hiked to 100 per cent and procedures for External Commercial Borrowings would be further simplified, a senior finance ministry official indicated on Tuesday.
Sinha, who is steering Sebi efforts to tackle the ponzi menace, said that in regions like West Bengal and North East -- where penetration of banking services is low -- have seen a larger number of people getting trapped in illegal money pooling schemes that promise high returns.
The operationalisation of the new pension scheme, scheduled to have started from April, is to be delayed as the appointment of fund mangers is being deferred till July.
Securities and Exchange Board of India would come out with transparent guidelines on search and seizure powers of the regulator along with procedures for investigating companies for insider trading and market misconduct.
The pension sector is expected to become the largest financial sector in India in the next five years and there will be a separate law for the sector, a top finance ministry official said on Tuesday.
Government is planning to foreclose seven major assured return schemes of the Unit Trust of India, including the 'Children Growth Fund'.
Operators of such trading rings allow people to trade in equities outside the stock exchange platform.
Life Insurance Corporation and UTI Mutual Fund are in the fray for entering the lucrative pension business, which is slated to grow to Rs 50,000 crore (Rs 500 billion) by 2010.
The government will operationalise the interim Pension Fund Regulatory and Development Authority and come up with the new pension scheme for about 1,00,000 employees from January 1, 2004.
U K Sinha said the equity market also helps in the growth of the Indian economy as the money invested in equities is utilised for infrastructure-building
The chairman's post will soon fall vacant, but that's not the only one that needs to be filled.
The rot is is not limited to Chitra Ramkrishna and the yogi, observed Debashis Basu.
The protocol aims to "democratise" lending, reduce costs of credit, and ensure accessibility of credit to small companies and street vendors, according to Nandan Nilekani.
'The US investors are very enthusiastic about India and policy changes'.
Credit to priority sectors as well as small and medium industries will be discussed to find ways to accelerate economic growth.
Listed cos begin appointing women directors
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