The Hindu Business Line : Money & Banking

Indian venture capital funds allowed to invest in equity and equity-linked instruments of offshore venture capital undertakings, subject to an overall limit of $500 million.

May 4: The Reserve Bank of India decides not to accept its own study group’s recommendation to charge paper-based transactions.

May 7: RBI tells banks to keep loan rates reasonable

Chidambaram rejects demand for hike in post office small savings rates

May 8: The Reserve Bank of India asks non-banking financial institutions not to grant any loan, or non-fund based facility to its directors, their relatives or to any firm in which any of its directors have interest to obviate conflict of interest in lending operations.

May 9: Union de Credit pour le Batiment SA, a BNP arm, buys 49.9% stake in Sundaram Home Finance

May 10: The Reserve Bank of India expressly prohibits certain transactions under the Liberalised Remittance Scheme. Such remittances allowed under the scheme only in respect of permissible current or capital account transactions.

May 12: ICICI Bank raising £ 350 million under a medium term note programme.

May 14: Lok Sabha passes Bill on trading in securitised debt instruments

May 15: HDFC parts ways with Chubb Global Financial Services Corporation, US.

The Lok Sabha passes Bill to help the seven subsidiary banks of State Bank of India to approach the capital market for raising resources to fund business growth and also meet the Basel-II norms on capital adequacy.

May 19: RBI says loans to members of the minority communities who belong to the weaker sections of the society will be included under the priority sector advances of banks.

May 21: Finance Ministry says foreign or private firms are not eligible to apply to the Pension Fund Regulatory and Development Authority to take up the role of pension fund managers.

Non-banking finance companies with less than Rs 2 crore in net owned funds by May 20, 2009 are to get three years thereafter to return any public deposits that they may have taken, says RBI.

May 24: The Reserve Bank of India allows banks to deliver cash at the doorstep of individual customers.

May 31: Call rates plunge to 10-year low of 0.50 - 0.75 per cent

Events 2007 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec

Comments & Letters to the Editor to: bleditor@thehindu.co.in
Subscribe to: Business Line