Bank of India has announced that the bank will raise money through Qualified Institutional Placement (QIP) of shares to meet credit requirement ahead of Basel II implementation.

Rese

New Delhi: Vinod Rai, secretary financial services has stated that the Sterlite-Morgan Stanley g

Mumbai: Sterlite Industries and Morgan Stanley led the race to get hold of 26% equity stake in cou

Reserve Bank of India (RBI) has finally tightened banks’ capital market exposure by implementing new rules and regulations.

In a circular, RBI has told that entities such as FIIs are not permitted to avail of fund or non-fund based facilities such as irrevocable payment commitments (IPCs) from banks, under the provisions of the Foreign Exchange Management Act (FEMA). The banks have been asked to unwind all such guarantees given on behalf of FIIs within six months.