Quick view: RBI allows up to 100% FII investment in Zee Ent

Updated: Jun 3 2014, 09:45am hrs
RBI allows up to 100% FII investment in Zee Ent

Foreign institutional investors can now invest up to 100% of the paid-up capital in Zee Entertainment Enterprises, an RBI notification said. Earlier, the investment limit for FIIs in the company was 49%. "Foreign institutional investors (FIIs) can now invest up to 100% (revised from earlier limit of 49%) of the paid-up capital of Zee Entertainment Enterprises under the portfolio investment scheme," the notification said.

deadline extended for common contract notes

Leading stock exchanges NSE and BSE have extended the deadline for introducing common contract notes across segments by brokers till August this year. Earlier, the deadline for launch of common contract notes was April 1. Different segments such as capital market, currency derivatives and futures and options would have a common contract note. "... based on the feedback received from the market participants, the date of implementation of the common contract note is extended till August 1, 2014.

Indian Bank revises rates for FCNR (B) deposits

Public sector Indian Bank has revised its foreign currency non resident (banking) deposit interest rates with immediate effect. For FCNR (B) deposits, in $, the revised interest rate has been fixed at 2.53% for deposits of one year and above but less than two years, compared to the existing 2.55%. For deposits of two years and above but less than three years, the interest rates have been revised to 2.52% from the existing 2.56% Indian Bank said in a statement.

IndusInd Bank launches video branch service

Private sector IndusInd Bank has launched video-branch, claiming to be a first-of-its-kind service, enabling customers interact with the staff of the bank through video conference facility. "IndusInd Bank has launched a new customer-centric service titled Video Branch. This innovative offering enables customers to do a video-conference with a bank staff..." the bank said.

IDBI Bank signs pact to finance MSME members

State-run IDBI Bank said it had entered into an agreement with Ficci, under which it would finance the industry lobby's small business members. A memorandum of understanding (MoU) was signed by IDBI Bank deputy MD BK Batra, Ficci secretary General A Didar Singh, and its affiliated body FICCI-MSME, an IDBI Bank release said.

Hero MotoCorp gains on Morgan Stanley upgrade

Shares of Hero MotoCorp gained as much as 2.4% after Morgan Stanley upgraded the motorcycle maker to overweight from equal-weight and raised its price target to R2,723 from R1,747. The bank cites expectations of a turnaround in the two-wheeler sector in fiscal 2015, leading to stronger earnings while also noting attractive valuations.

A correction

In the edition dated May 31, in the story with the headline, Affordable housing is a priority area for us, Vasu Ramaswamys designation should have been CEO, L&T Housing Finance and not L&T Finance Holdings. The error

is regretted.