Sebi may tighten AIF regulations to better monitor source of funding

  Mumbai, Feb 23: The Securities and Exchange Board of India (Sebi) plans to tighten present Alternative Investment Funds (AIF) regulations to better monitor the source of funding and their end use. According to sources, Sebi may check the anti-money laundering policies implemented by AIFs and examine the sanctity of any back-end arrangements an AIF […]

RBI asks banks to integrate SWIFT in core banking system by April end

RBI asks banks to integrate SWIFT in core banking system by April end

  Mumbai, Feb 23: The Reserve Bank of India (RBI) has asked banks to integrate link for Society for Worldwide Interbank Financial Telecommunications (SWIFT) with their core banking system (CBS) by end of April 2018, said Indian Bank Association’s(IBA) Chairman Usha Ananthasubramian. Ananthasubramian is also the managing director and chief executive of Allahabad Bank. She […]

Infosys shareholders approve appointment of Salil Parekh as CEO, MD

Infosys shareholders approve appointment of Salil Parekh as CEO, MD

  New Delhi, Feb 23: Infosys shareholders have approved the appointment of Salil S Parekh as chief executive officer and managing director of the company, the company has said in a regulatory filing. As per results of postal ballot and e-voting filed by the IT major, 97.96 per cent shareholders through the physical ballot and […]

PNB transfers 1415 employees

  New Delhi, Feb 23: Punjab National Bank (PNB), which is facing a Rs 11,394-crore fraud, has transferred 1,415 employees this week, it said in a statement, seeking to scotch rumours that the public-sector bank has shifted as many as 18,000 employees after the scandal. PNB insists the transfer is “as per prevailing rotational transfer […]

Sebi plans safeguards for overseas investors taking private bank route

Sebi plans safeguards for overseas investors taking private bank route

  Mumbai, Feb 23: The Securities and Exchange Board of India (Sebi) is planning checks and balances on overseas investors taking the ‘private bank route’ to invest in domestic markets. The move comes after several industry players expressed concerns that the new route allowed by the Sebi could be misused by investors, such as participatory […]

Move to gold amid selloff in equity markets, says WGC

Move to gold amid selloff in equity markets, says WGC

  Mumbai, Feb 23: The ongoing selloff in Indian equity markets has opened an opportunity for portfolio diversification in favour of gold, to reduce risk and aim for better return. So argues the World Gold Council (WGC), official market development body for the metal’s mining industry. In this country, the benchmark S&P BSE index has […]

No proposal to merge BSNL, MTNL: Telecom Minister

  New Delhi, Feb 22: Telecom Minister Manoj Sinha today said there are no plans at present to merge BSNL and MTNL, but asserted that the strategic plan outlined for promoting synergy among state-owned telecom firms will strengthen and benefit both the organisations. “There is no thinking in government on merging the two. But we […]