Sahara cousel Kapil Sibal said he was preparing an application.
Trouble at a single bank among the top five most connected lenders could wipe out nearly 50% of Tier I capital
The Reserve Bank of India (RBI) raised the minimum capital requirement for so-called shadow banks and tightened rules on deposits and bad loans to avoid any potential risk to the economy from these rapidly growing finance firms by regulating them like traditional banks.
The focus shall also be on consolidation of public debt and reducing rollover risk through active switch/buyback operations.
These transactions have come for shareholders approval because of requirements under the new companies law and amended listing agreements.
Given the broken balance sheet and the limited fiscal room, the government has to kick off investment: Vikas Khemani & Stephen Gallagher.
The safest banks are those that have shown their strength in times of turbulence.
Though they have more than one legal option to recover dues, till NSEL has funds, little can be done.
Foreign arms of many Indian firms under lens, have to seek approval to launch certain products
Global agency Fitch on Wednesday cut credit rating outlook to negative from stable of 11 financial entities, including State Bank of India, ICICI Bank, Punjab National Bank and Axis Bank.
The Bharatiya Janata Party and Rashtriya Swayamsevak Sangh top brass on Tuesday held a meeting, lasting over five hours, to discuss issues of mutual concern but the prime ministerial candidate and the Ram temple at Ayodhya issues did not come up during the parleys.
In an attempt to allay concerns of the US-based hospitality chain, Indian Hotels Co Ltd vice-chairman R K Krishna Kumar, in a letter to Lovejoy, said the Tata group firm would like to engage in a constructive dialogue.
Although there are serious risks facing the US economy in the coming year, there is also a good chance that growth will be substantially stronger than it has been since before the recession began.
While RBI is yet to come out with a clear regulatory framework for bitcoins, which have been gaining currency across the world over the past few months, it has issued an advisory cautioning general public against use of bitcoins and other virtual currencies.
The finance ministry is looking into a proposal that would allow overseas retail investors to invest directly in Indian equity markets. This is part of a review of the overall regime for the participation of foreign investors in primary and secondary markets.
The regulator is unhappy with the exchange in the market crash case that occurred in 2012.
The BSE would also launch soon a Corporate Bond Repo, another new product for the Indian market.
The corporation, christened MCX Clearing Corporation, is likely to start functioning next month. So far, the exchange's clearing activities are controlled by an integrated clearing house which remains a function of the exchange platform.
Excerpts from Sebi Chairman C B Bhave's discussions with the media after the regulator's board met in Mumbai on Monday.
Gold is playing a decisive role in the present economic scenario as inflation and recession have eaten the vital parts of every country's economy. Most investors prefer to invest their money in gold these days. Most traders think that this is the good time to squeeze maximum benefit from the collapsing economy. With the markets now concerned about inflation, gold has posted its credentials separately from its role as a mitigator of financial and political risk.
In a significant development, India's National Commodity & Derivatives Exchange Limited on Thursday launched its futures contract for Certified Emission Reduction. Forward Markets Commission, chairman, B. C. Khatua inaugurated the launch at NCDEX Exchange Platform. The CER contract of NCDEX will be traded in multiples of one lot of 500 CERs each.
IMF has praised India's economic performance and has negated the concept of decoupling as economies today are much closely related to each other.
Financial conglomerates neither have group-wide oversight mechanisms nor do they follow enterprise-wide risk management practices, according to the findings of a monitoring exercise by the Reserve Bank of India (RBI), Securities and Exchange Board of India (Sebi) and Insurance Regulatory and Development Authority (Irda).
They say liquidity remains a major cause of concern, and the coming quarters could witness a significant rise in non-performing assets. According to them, a robust risk management system, adequate capital infusion and regulatory reforms is crucial if India's economic growth is to remain intact in the medium and long term. Banks are facing immense liquidity pressure, as resources gradually disappear from the system. Banks have also been unwilling to lend each other.
In its draft guidelines issued on Wednesday, the Reserve Bank of India has allowed banks and primary dealers to act as market makers of credit default swaps.
The European Union's push to introduce new capital requirements for banks through the Basel-II (Revised international capital framework) pact may hit specialist commodity traders, such as large oil companies.
Finance capital is the creative minority that Toynbee spoke of -- one which takes more than it gives to society.
The Reserve Bank of India has imposed caps on inter-bank liabilities from April 1, 2007, as several banks, particularly the smaller ones, have been borrowing heavily to tide over tight liquidity.
I think the biggest mistake of the British parliamentarians was to make a little extra money, officially and within the rules. A far better way is to make off-balance sheet money -- as we do -- and keep it in Swiss banks. (Of course we bring it back, or some of it anyway, at election time and the rupee strengthens in the havala market.) If occasionally one does get caught with his pants down, he can always disclaim all knowledge about the money.
Barack Obama enters his first real moment of global diplomacy in London on Wednesday with a paradox: he is the most popular US president in a generation but you would have to go back more than two generations to find one with fewer cards to play.
Imagine ten pallbearers and that one of them stumbles badly, and you get the picture of the risk inherent in slicing risk.
Back where the crisis started, the stand of half-built skyscrapers, an eyesore along Bangkok's skyline for years, has given way to a modest number of construction cranes and new, completed expressways
The Securities Appellate Tribunal has ruled that the Securities and Exchange Board of India was wrong in insisting that foreign institutional investors should furnish an undertaking that they have not issued P-Notes to certain select types of persons. A quick look at the law regulating FIIs would be useful. FIIs are persons resident outside India who, once registered with Sebi, enjoy a right to freely buy and sell securities on Indian stock exchanges.
The board of Cairn India has on two occasions rejected oil ministry conditions that royalties paid by Oil and Natural Gas Corporation on its all important Rajasthan oilfields, be cost recoverable from oil sales saying this was against contractual provisions and not in the interest of the company and its shareholders.
Martin Feldstein, George F Baker Professor of Economics at Harvard University, speaks about the global economic situation.
Those who are responsible for the present mess are in charge of the clean-up.
The commonly-held suspicion of wrongdoing pertains to a conflict of interest, but the management maintains that the move was aimed at enhancing shareholder value.
IEX, promoted by Financial Technologies, will be a pan India neutral and transparent electronic demutualized exchange for efficient price discovery in the electricity market. PTC India Ltd has consented to take 26 per cent stake in IEX.
With volatility persisting, Warren Buffet's description of derivatives is turning out to be more and more apt, says A V Rajwade.
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