Global rating agency Standard and Poors (S&P) Asia-Pacific chief economist Subir Gokarn will be the new deputy governor of the Reserve Bank of India (RBI), finance minister Pranab Mukherjee said on Wednesday. When asked whether an order appointing Gokarn as the deputy governor of RBI has been issued, he said It will be done in due course. The post of deputy governor (for economist) in RBI has been lying vacant since mid-June after Rakesh Mohan quit months ahead of his retirement.
FMC expects Bill in winter session
The Forward Markets Commission (FMC) is expecting the much delayed Forward Markets Commission (Amendment) Bill to be tabled in the winter session of the Parliament. The bill will provide autonomy to the FMC and help in taking key decisions such as recognise or derecognise bourses, raise fees from exchange members and impose penalties on errant market entities, said BC Khatua, chairman of FMC.
Barclays to acquire Standard Life Bank
Barclays Bank has agreed to acquire Standard Life Bank from Standard Life Plc for a consideration of 226million, payable in cash upon completion. Under the terms of the transaction, Barclays will acquire a savings book of approximately 5.5billion, as at 30 June 2009, and a mortgage book with outstanding balances of approximately 8.8 billion, as at 30 June 2009, with an average indexed loan to value ratio of 48% at that date.
Birla Cap gets merchant-banking licence
Birla Capital & Financial Services, a BSE listed entity and part of Yash Birla Groups conglomerate, has been granted a merchant-banking licence by Sebi. The licence will enable the company to offer a wide range of on-shore investment banking advisory and underwriting services in the Indian market.
Dabhol to invite bids for LNG terminal
Ratnagiri Gas and Power Pvt Ltd, the firm that runs the Dabhol power plant, will invite bids for leasing out the adjacent LNG terminal. Seven companies had put in expression of interest for taking the LNG terminal on tolling basis. Subsequently there was interest from other companies as well and so we have now decided to call for open bids, RGPPL chairman RK Goel said.