Winners of producing coal blocks will have one month to apply for statutory permissions for transfer of the blocks in their names or face a deduction in the performance bank guarantee, according to a Coal Ministry timeline. Deviation from the mining plan of such blocks would need to be submitted within four months and approved within 10 months.
Now, private entities aspiring to set up banks can expect to hear about the status of their applications from the Reserve Bank of India (RBI) in 90 days. The 90-day period for issue of in-principle approval for private bank licences would commence
RBI Governor Raghuram Rajan made a case for more coordination in monetary policies by different central banks to deal with the spillover effect on emerging markets. He said that central banks should reinterpret their domestic mandate to take into account other country reactions over time, and thus become more sensitive to spillovers.
IDFC Ltd has won a banking licence as per a recent RBI announcement. A banking licence would provide a window to IDFC to access low-cost bank deposits and reduce reliance on high-cost term loans and, thus, help expand margins. The company was set up in 1997 as a specialised lender for big-ticket infrastructure project with long gestation period.
Corporate investments, which stood at Rs 263,400 crore in 2012-13, may fall in the current financial year, Reserve Bank of India (RBI) said in its monthly bulletin for September. The capital expenditure intentions of the companies in private and joint business sectors were captured in the repo
India's economy may grow at 5 to 5.5 percent rate in 2013-14, Reserve Bank of India Governor Raghuram Rajan said. In an article written on Project Syndicate, the governor said this rate of growth is "not great, but certainly not bad for what is likely to be a low point in econ
Some bankers suggest Reserve Bank of India (RBI) to bring about enabling framework for effective implementation of SARFAESI Act. Bankers argue that despite the existence of this act, they face difficulties at the field level in taking physical possession of mortgaged properties from defau
Economic growth may recover in 2013-14 if the government unleashes reforms to remove supply bottlenecks and maintain stability, Reserve Bank of India (RBI) said in its annual report. Economic growth may get a boost from institutional reforms like better regulation of natural resources, improved harnessing of water resources, investing more in skill form