Sebi seeking public comments on the same

The deadline for sending suggestions on variable entry load or fee for mutual fund agents is drawing closer and the responses so far are skewed toward one side.

Earlier, Securities and Exchange Board of India (Sebi), the country's capital markets regulator, had mooted a proposal to allow mutual fund investors to mention the commission or fee that they would like to pay the advisor or agent, thus trying to bring transparency.

Seek to bring transparency, standardised accounting

An umbrella organisation of venture capital (VC) and private equity (PE) funds has proposed some guidelines to bring transparency and standardise the accounting practices in the industry.

The proposed standards are on the lines of those issued by the European Venture Capital Association (EVCA).

The standards would also entail telling PEs and VCs how to be fair to their portfolio companies. This is linked to the reputation of the asset class in the country.

Standard Chartered Bank is "evaluating" the option of selling shares in India, Neeraj Swaroop, regional chief executive, India & South Asia said on Tuesday.

"We have not made a decision yet. It will depend on many factors, including market conditions, our need for capital and the terms and conditions for the issue," he said.

This is the first time any top foreign banker has come on record on the desire to sell shares locally, though StanChart was always the most likely candidatebecause of its large, very profitable presence in the country.

The havens of ill-gotten wealth can be opened up, given strong government will

Under pressure from federal authorities, Swiss bank UBS is closing the hidden offshore accounts of its well-heeled American clients, potentially allowing their secrets to spill into the open.

In a step that would have once been unthinkable in the rarefied world of Swiss banking, UBS will shut about 19,000 accounts that prosecutors suspect have gone undeclared to the Internal Revenue Service. UBS will transfer the assets to other banks or other divisions within UBS, or will mail checks directly to the account holders, creating paper trails for federal prosecutors who are examining whether UBS clients used such accounts to evade taxes.

Tokyo  - Toyota Motor Corp's financial unit said it has sought emergency loans from the government-backed Japan Bank for International Cooperation (JBIC), media reports said Tuesday.

Toyota Financial Services Corp has asked for about 200 billion yen (2 billion dollars) in aid, Jiji Press quoted sources close to Toyota.

The firm would be the first in the auto industry to receive financial aid from the Japan Bank if the loans are granted.

Freebies like costly cars, air conditioners get the thumbs down, caution is the word in the city

Freebies, even if they are a Rs27 lakh BMW, offered by some real estate developers, have not seen prospective buyers rushing to buy homes in the city.

Even though many builders with projects all over the city have dangled carrots like new vehicles, air-conditioned rooms, 40-inch LCD televisions, Sony home theatre sets, and DVD players for every apartment booked, there have been only a few takers.

A recent survey by Delhi-based Makaan.com — a real estate portal run by the People Group — has revealed that 66% of Pune buyers have turned down the freebies.