The World of Finance: Week of September 22nd to September 28th 2014

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India: RBI

  • RBI panel outlines steps to help PSU banks manage talent better
  • RBI released the issuance calendar of Government bonds for the second half of this fiscal year

India: SEBI

  • SEBI appoints Gyan Bhushan as Chief vigilance officer
  • MCX Stock Exchange Ltd (MCX-SX) receives approval from SEBI to change its name to Metropolitan Stock Exchange of India Ltd, or mSXI
  • SEBI wants SMEs to get listed for more gains

India: Finance Ministry

  • The Finance Ministry is pushing for further easing of rules for foreign direct investment
  • The Finance Ministry has opposed a proposal to supply domestically produced coal to power plants that do not have a fuel supply agreement (FSA)

India: Banking Development

  • IDFC Bank to kick-start banking operations by Oct 1, 2015
  • SBI, ICICI allow kids to operate bank accounts
  • Banks get a push from RBI to mine social media, know customers better

India: Banking Expansion

  • FIPB to decide on HDFC Bank proposal to increase foreign investment limit
  • IDFC raised Rs 1000 Cr through qualified institutional placement (QIP) after selling 7.3 crore shares for Rs 137 each
  • Rs 1,500 crore deposited in banks under Jan Dhan Yojana
  • Already about 4  Crore new bank accounts have been opened under Jan Dhan Yojana

India: General banking

  • Board of Bank of Baroda approves  stock split of 1 equity share into five equity shares, subject to regulatory approvals
  • Bank unions plan protests from Oct 10
  • State Bank of India likely to hold the subsidiary banks’ merger plan
  • Calcutta HC stays United Bank of India’s declaration of Kingfisher Airlines as wilful defaulter
  • IDBI Bank approves raising rupee borrowing limit to Rs 15,000 crore
  • Syndicate Bank terminated its suspended CMD Sudhir Kumar Jain’s term

India: Frauds

  • The Visakhapatnam branch of CBI has registered a case against the chief manager of the Indian Bank at Narasaraopet in Guntur for allegedly entering into a criminal conspiracy with a few companies and persons to defraud the bank of Rs 10.49 lakh

India: They said it

  • Raghuram Rajan, RBI Governor: Macro indicators improving but rate cut still away
  • Raghuram Rajan, RBI Governor: Need to tackle ‘persistent’ inflation
  • Raghuram Rajan, RBI Governor: India needs “sensible” regulations to spur growth
  • RBI Deputy Governor: Discussions are going on to Join Euroclear

India: Forex reserve

  • India’s forex reserves fell by $101.3 Mn in the week ended September 19 to $315.59 Bn

International:

  • A China-led effort to launch the Asian Infrastructure Investment Bank has attracted the interest of 21 countries
  • Banks shut branches over Hong Kong protests