Government to raise FDI cap in private banks
By Our Banking Bureau | 17 Dec 2003
New Delhi: The Finance Minister, Mr Jaswant Singh, has said that the Government has in principle decided to enhance the limit of foreign direct investment (FDI) in banking companies.
In a reply to Parliament, Mr Singh said the hike in FDI would not have any impact in terms of ownership control and regulation of nationalised banks. However, he said the FDI hike would allow foreign banks to set up subsidiaries and would also invite greater foreign investment in private banks.
The Finance Minister did not indicate any fresh limit for FDI in the sector that currently stands at 49 per cent. The Government had recently said that it was committed to raise the FDI limit to 74 per cent as stated in the Budget for 2003-04.
Featured articles
Lighter than air, yet very, very powerful
By Kiron Kasbekar | 03 Jan 2024
In March 2013 Chinese scientists pulled off a remarkable feat. They created the world’s lightest aerogel. Tipping the scales at a mere 0.16 milligrams per cubic centimeter – that’s a sixth of the weight of air!
COP28 explained: A closer look at COP28's climate change solutions
By Aniket Gupta | 27 Dec 2023
The 28th United Nations Climate Change Conference, also known as COP28, took place from 30th November 2023, to 13th December 2023, at Expo City in Dubai, United Arab Emirates.
What is a Ponzi scheme?
By Aniket Gupta | 06 Dec 2023
Ponzi schemes have long captivated the public imagination, drawing unsuspecting investors into a web of illusion and deception.
The Rise and Rise of HDFC Bank
03 Jul 2023
HDFC, which surged ahead of global majors like HSBC Holdings Plc and Citigroup Inc and left Indian peers like State Bank of India and ICICI Bank in market capitalisation, now ranks fourth largest among the world’s most valuable banks, after JPMorgan Chase & Co, Industrial and Commercial Bank of China Ltd and Bank of America Corp
India’s Millet Revolution To Enrich Global Food Basket
02 Apr 2023
Millets, a healthier and cheaper substitute to wheat and rice, are indigenous to many parts of the world, especially in the semiarid tropics of Asia and Africa, and offers a big scope for expanding production and consumption in the foodgrain deficient African continent
Market predator Hindenburg preys on Adani stock
06 Mar 2023
Almost a month after the damning report of short-seller Hindenburg Research on the Adani Group that claimed that the seven stocks within the group were about 85 per cent overvalued, one of the group's stocks, Adani Total Gas, closed at Rs835 on the BSE, down nearly 79 per cent from its 24 January level, almost close to reaching that valuation
Business History Videos
History of hovercraft Part 3...
Today I shall talk a bit more about the military plans for ...
By Kiron Kasbekar | Presenter: Kiron Kasbekar
History of hovercraft Part 2...
In this episode of our history of hovercraft, we shall exam...
By Kiron Kasbekar | Presenter: Kiron Kasbekar
History of Hovercraft Part 1...
If you’ve been a James Bond movie fan, you may recall seein...
By Kiron Kasbekar | Presenter: Kiron Kasbekar
History of Trams in India | ...
The video I am presenting to you is based on a script writt...
By Aniket Gupta | Presenter: Sheetal Gaikwad
view more
