1. Reliance Money has announced a distribution tie-up with Kerala-based Muthoot Group, a non banking finance company, for retailing its pure gold coins.
2. There is huge uncertainty on the growth prospects of Indian IT industry over the next four to five years if the rupee appreciation goes unabated, according to Mr Kiran Karnik, President, Nasscom.
3. Premature liberalisation of money and bond markets can lead to large and volatile capital inflows, intensifying complications for macroeconomic and monetary management, said Dr Rakesh Mohan, Deputy Governor, Reserve Bank of India.
4. Private sector projects in India supported by the International Finance Corporation (IFC) have a ‘high development outcome ratings’ than in China. The success rate in India — per cent of tracked companies with successful development results ratings — was 72 per cent compared with 43 per cent in China.
5. Centurion Bank of Punjab has launched ‘Post Box Service’ in the two countries for NRI customers who can use the service to send documents, statement and cheque requisition, account instructions, electronic banking application form, mandate application form, change of address form, PIN re-generation, debit card re-issue or any other account operating instructions including FD opening or renewal instruction.
6. Karur Vysya Bank (KVB) has tied up with IDBI Capital Market Services Ltd to provide online trading facility on both BSE and NSE for its demat account holders. These transactions could be put through idbipaisabuilder.in of IDBI Capital and the service would be available from March 1, 2008.
7. The Securities and Exchange Board of India has relaxed guidelines for issue of corporate bonds through the public issue route. The new norms permit companies to come out with bonds with below investment grade popularly known as “junk” bonds. A SEBI circular issued today said that for developing a market for debt instruments, the regulator has decided to allow issuances of bonds below investment grade to suit the risk as well as returns appetite of investors.SEBI has reasoned that as of now corporates were not allowed to issue bonds below investment grade, but in a disclosure-based regime, it should be left to the investor.
8. It is obvious that Indian policymakers can do little about containing the magnitude of the liquidity squeeze that has been the by-product of the sub-prime saga in the US. The RBI will have to factor in this reduced availability of external credit in its plans, if any, to tighten the credit delivery system.
9. The forex reserves went up by $1.133 billion to $272.281 billion for the week ended November 23 following constant intervention by the Reserve Bank of India in the market.
10. Banks may no longer be able to resort to strong-arm techniques for loan recovery. The draft guidelines issued by the Reserve Bank of India suggest that banks should use the forum of Lok Adalat for the recovery of personal loans, credit card loans or housing loans of less than Rs 10 lakh. Recently, some banks have been in the spotlight for alleged harassment of their customers by recovery agents.
2. There is huge uncertainty on the growth prospects of Indian IT industry over the next four to five years if the rupee appreciation goes unabated, according to Mr Kiran Karnik, President, Nasscom.
3. Premature liberalisation of money and bond markets can lead to large and volatile capital inflows, intensifying complications for macroeconomic and monetary management, said Dr Rakesh Mohan, Deputy Governor, Reserve Bank of India.
4. Private sector projects in India supported by the International Finance Corporation (IFC) have a ‘high development outcome ratings’ than in China. The success rate in India — per cent of tracked companies with successful development results ratings — was 72 per cent compared with 43 per cent in China.
5. Centurion Bank of Punjab has launched ‘Post Box Service’ in the two countries for NRI customers who can use the service to send documents, statement and cheque requisition, account instructions, electronic banking application form, mandate application form, change of address form, PIN re-generation, debit card re-issue or any other account operating instructions including FD opening or renewal instruction.
6. Karur Vysya Bank (KVB) has tied up with IDBI Capital Market Services Ltd to provide online trading facility on both BSE and NSE for its demat account holders. These transactions could be put through idbipaisabuilder.in of IDBI Capital and the service would be available from March 1, 2008.
7. The Securities and Exchange Board of India has relaxed guidelines for issue of corporate bonds through the public issue route. The new norms permit companies to come out with bonds with below investment grade popularly known as “junk” bonds. A SEBI circular issued today said that for developing a market for debt instruments, the regulator has decided to allow issuances of bonds below investment grade to suit the risk as well as returns appetite of investors.SEBI has reasoned that as of now corporates were not allowed to issue bonds below investment grade, but in a disclosure-based regime, it should be left to the investor.
8. It is obvious that Indian policymakers can do little about containing the magnitude of the liquidity squeeze that has been the by-product of the sub-prime saga in the US. The RBI will have to factor in this reduced availability of external credit in its plans, if any, to tighten the credit delivery system.
9. The forex reserves went up by $1.133 billion to $272.281 billion for the week ended November 23 following constant intervention by the Reserve Bank of India in the market.
10. Banks may no longer be able to resort to strong-arm techniques for loan recovery. The draft guidelines issued by the Reserve Bank of India suggest that banks should use the forum of Lok Adalat for the recovery of personal loans, credit card loans or housing loans of less than Rs 10 lakh. Recently, some banks have been in the spotlight for alleged harassment of their customers by recovery agents.
