Promoters of Catholic Syrian Bank (CSB) have sought RBI?s nod for divesting further stake in the bank to a UAE-based businessman, a top bank official said. Siam Vidhya Group, promoted by Bangkok-based NRIs, had acquired 36.18% equity shares of the city-based bank in 1994.
Shriram Fin to raise R500 cr via NCDs
Non-banking finance company Shriram Transport Finance is planning to raise up to R500 crore through non-convertible debentures (NCDs) to support financing activities. NCDs are loan-linked bonds issued by a company that cannot be converted into stock and usually offer higher interest rate than convertible debentures.
Interview for SBI chief post next week
A government-appointed search panel will conduct interviews for selecting the chairman of the country’s largest bank SBI on September 21. All the four managing directors of State Bank of India have been called for the interview, a senior finance ministry official said. The Appointments Committee of the Cabinet (ACC), headed by the PM, had suggested all the four SBI MDs should be called for the interview.
Govt bonds may draw $20 bn: StanChart
India’s inclusion in popular government bond indices such as JP Morgan’s government Bond-Emerging Markets-Global Diversified index could attract about $20 billion-$40 billion in over a year, Standard Chartered Bank wrote in a note.
MSCI launches emerging mkt index
MSCI has launched an emerging market index that excludes large but lagging markets of Brazil, Russia, India and China. Around $1.3 trillion in assets is benchmarked against MSCI’s emerging market index, and the BRIC markets make up over 40% of that.
