The business correspondent (BC) model has been long considered the favourite choice of policymakers in connecting the last mile into financial inclusion, but it faces a huge trust deficit – so much so that even top bankers have been raising
Inching a step ahead in the screening of applications for banking licences, the reserve bank of India (RBI) has asked the applicants to submit additional information by next week. It has also approached other regulators including the securities an
The securities and exchange bureau of India (Sebi) is considering bringing in the ‘independent’ research analysts covering the Indian stock markets under its ambit in an attempt to minimise the risk of individuals/companies manipulatin
Looks like the finance ministry’s move to encourage banks to give out cheap consumer loans, in return for greater capital, has done the trick. According to a report in The Economic Times, soon after the government announced its &lsq
As bankers prepare for the review meeting with finance minister P Chidambaram on Tuesday, the finance ministry has suggested a two-way approach to check the mounting pile of bad loans. It has asked public sector banks (PSBs) to provide adequate su
With a view to ensuring protection of shareholders’ rights, the government has directed Life Insurance Corporation (LIC), which has investments in over 100 companies, to appoint nominees on boards of all those companies in which it has signi
Reserve Bank of India governor Raghuram Rajan, on Saturday, launched the revamped real time gross settlement (RTGS) system to facilitate real-time settlements of payments online. The governor is hopeful that the new system would enhance efficiency
Hong Kong and Shanghai Banking Corporation (HSBC) which announced the shutting down of its retail broking and depository business in India has given customers a notice period till December to transfer securities lying in their de-mat accounts to o
Following the passage of the new Companies Act, the securities and exchange board of India (Sebi) is looking to incorporate its provisions in the Sebi Act so as to enhance the corporate governance practices in listed companies. According
Looks like Reserve Bank of India (RBI) governor Raghuram Rhajan will have to wait longer before he can give in to popular demand of easing up interest rates thanks to persistent inflationary pressures. With the rise in the wholesale price index (W
The markets watchdog securities and exchange board of India (Sebi) has come out with new norms for settling administrative and civil disputes against defaulters barring cases of insider trading, employing manipulative practices and illegal raising
In a major fillip to the banking structure in the country, the Reserve Bank of India is contemplating allowing entry of foreign banks to set up branches or acquire domestic banks, governor Raghuram Rajan has said. According to a report in
India’s real estate sector is neck deep in crisis with delays in completion of projects, demand having slowed down and interest rates remaining high. In order to add depth to the country’s real estate market, the securities and exchang
Having faced the ire of investors for tightening liquidity conditions earlier in July, the Reserve Bank of India (RBI) has been working on easing those conditions so as to restore market sentiment. The apex bank on Monday slashed the marginal stan
The country’s largest lender State Bank of India (SBI) got its first woman chairperson Arundhati Bhattacharya who assumed charge on Monday. Bhattacharya took over the post from Pratip Chaudhuri after he retired on September 30. The g
A three-member external committee to recommend granting of new banking licences was finalised by the reserve bank of India (RBI) on Friday. Apart from former RBI governor Bimal Jalan, whose name was announced earlier as the panel head, th
In a major fillip to investment activity, the securities and exchange board of India (Sebi) has allowed investors to buy and sell shares under share purchase agreements (mergers and acquisitions). The move to legalise put and call options in share
In another desperate measure to boost demand and enhance investment activity, the government has decided to inject more capital into the public sector banks (PSBs) over and above the sum of Rs 14,000 crore announced in the 2013-14 budget. However,
Public sector financial institutions, which were recently given the approval to raise funds abroad, may not be able to utilize these funds completely, the finance ministry has said. According to a news report in Mint, the finance ministry
