Banking Sector

Sterlite-Morgan Consortium May Pay Rs 2,700 Cr For IFCI Stake

New Delhi: IFCIVinod Rai, secretary financial services has stated that the Sterlite-Morgan Stanley g

Sterlite, Morgan Stanley Tops IFCI Stake Race

IFCIMumbai: Sterlite Industries and Morgan Stanley led the race to get hold of 26% equity stake in cou

RBI Finally Tighten Banks’ Capital Market Exposure

RBIReserve Bank of India (RBI) has finally tightened banks’ capital market exposure by implementing new rules and regulations.

In a circular, RBI has told that entities such as FIIs are not permitted to avail of fund or non-fund based facilities such as irrevocable payment commitments (IPCs) from banks, under the provisions of the Foreign Exchange Management Act (FEMA). The banks have been asked to unwind all such guarantees given on behalf of FIIs within six months.

UTI & SBI MF - Newly Appointed Managers for Post Office Funds

P. Chidambaram

GFH To Set Up $10 Bn EDZ Near Mumbai

Gulf Finance HouseMumbai: Gulf Finance House (GFH) has decided to build up an econ

ICICI, IL&FS, Kotak Holds 9.55% Stake In MCX

MCXMumbai: Leading banking and financial services groups including ICICI, IL&FS and Kot