Four persons privy to the discussions told Business Standard that the deal is close to finalisation, and that regulator Forward Markets Commission (FMC) had been kept in the loop. Indiabulls holds 40 per cent stake in the exchange, which started operations less than a year ago.
Says banks strong enough to tackle the problem on their own
Various options, including expanding the scope of some of the existing tools, were being considered to provide a financial safety net.
The Reserve Bank of India (RBI) has urged Finance Minister Pranab Mukherjee to allow the Securities and Insurance Laws (Amendment and Validation) Ordinance 2010 to lapse, since it could affect the autonomy of all regulators, including the central bank.
Ravi Kapoor, head of global banking at Citi India tells that the success of the Centre's divestment programme hinges on attractive valuations
A senior government official said the issue had come up during the foreign secretary-level talks earlier this week and Pakistan expressed its willingness to re-engage in the discussion.
Manmohan Singh also says there are greater risks of deflation, than inflation.
Government officials said the system proposed by the finance ministry, which would be akin to the mechanism followed for auction of investment rights in bonds, would result in Mint Road losing control over overseas fund raising by companies and that was RBI's major concern.
Rohit Chatterji, the new managing director and head of investment banking at J P Morgan, is cautious about the European crisis turning from a liquidity issue to a solvency crisis.
Growth is coming from sectors which are interest rate-sensitive, says D Subbarao.
For developers who came out of a prolonged slowdown of 2008-09, the fund raising spree could be dangerous, say consultants.
The country's largest insurer had been keen to run a bank for a long time to manage the large premium collection and claim settlement work.
The process has been suspended for the time being as Agriculture, Food & Consumer Affairs Minister Sharad Pawar, a political heavyweight, is opposed to any intrusion into his turf.
The high level coordination committee on financial markets, which consists of financial sector regulators, is likely to opt for a phased reduction in the commission paid to insurance agents.
With the Reserve Bank of India allowing retired teachers, kirana shop owners and public call office (PCO) operators to be hired as business correspondents, banks are set to hire over 200,000 people over the next few years to push financial inclusion initiatives.
Vedika Bhandarkar, managing director & head of investment banking, recounts how even in a supposedly bad year, the bank raised about Rs 1,00,000 crore (Rs 1,000 billion).
Saurabh Agrawal, managing director and head, investment banking, has reason to feel pleased with his team at DSP Merrill Lynch -- his firm tops the M&A league table and should secure itself a reasonably good ranking in the debt and equity fund-raising sweepstakes by the time the year draws to a close.
Tata Housing's efforts at helping less privileged sections of society are commendable, but after a point it won't be able to do much for the simple reason that there aren't going to be enough lenders to give loans to these prospective home buyers.
The markets had run ahead of fundamentals and could slide further.
RBI Governor D Subbarao explains the rationale for the moves announced in the second quarter review of the monetary policy in an interview with Sidhartha. Excerpts:
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