Chairman and Managing Director, State Bank of India
Asia-Pacific
Latest articles from India
Ghyanendra Nath Bajpai
October 4, 2004Chairman, Securities and Exchange Board of India
Sitaram Yechuri
October 4, 2004Member, Politburo, Communist Party of India (Marxist)
Montek Singh Ahluwalia
October 4, 2004Deputy Chairman, Planning Commission
The Magnificent ten
October 4, 2004
India’s current government and finance scene includes an energetic, forward-thinking and pragmatic team. Kala Rao profiles the 10 key decision-makers.
When, against the odds, the Congress party triumphed in India’s national elections in May, the country’s stock market nosedived. Investors feared that state intervention and meddling would come back into fashion, interest rates would rise and prospects for economic growth would diminish. In short, India’s reform process would move quickly into reverse.
Reserve Bank of India ruling dismays bankers and investors
August 2, 2004
A proposed policy on ownership rules for Indian private banks put out by the Indian central bank on July 2 has left bankers and investors dismayed.
To ensure that ownership and control of private banks is as diverse as possible, the Reserve Bank of India, the central bank, proposes to limit ownership by a single investor or corporate group to 10% of the paid-up capital of the bank.
India puts brakes on HSBC’s UTI Bank aspirations
July 2, 2004HSBC’s purchase of a minority stake in a private Indian bank has been pruned to 14.6%, confirming that the move made last year by the Indian government to raise the foreign investment limit in private banks to 74% is not an open invitation to foreign banks.