Foreign bank norm
New Delhi, Oct. 24: The Reserve Bank is considering changes in the rules governing the operations of foreign banks. According to the new regulations being mulled, the RBI might ask the foreign banks to incorporate all branches as their subsidiaries in India so that all of them are required to follow the rules governing capital adequacy ratio and sector-specific exposure limits. The RBI can also have a greater regulatory oversight.
New Delhi, Oct. 24: The State Bank of India may revise its loan growth and bring it down to 18 per cent for this fiscal as credit offtake was slow in the first half of this fiscal. It will be 18 per cent against 20 per cent for the current fiscal, SBI chairman O.P. Bhatt said.
New Delhi, Oct. 24: Small and medium enterprises (SMEs) are optimistic about the business outlook in the October-December quarter on increased domestic activities along with improved prospects of credit availability, a CII survey said today.
New Delhi, Oct. 24: The fast growing domestic IT services market is expected to be worth nearly $14 billion in the next four years helped by increased government spending, according to research group Gartner.
Mumbai, Oct. 24: India’s largest international hotel company Carlson plans to add 20 hotel properties by 2011. “We are opening five hotels in 2010 and plan to add at least 15 hotels in 2011 in India,” Hubert Joly, president and chief executive officer of Carlson, said.