Indian markets have seen their biggest reforms and policy changes happening after a scam reminds policy makers of the loopholes in the system. Open outcry system gave way to electronic exchanges after the Harshad Mehta scam. The dematerialisation scam resulted in strict KYC (Know Your Clients) norms being implemented by brokers. The latest Jignesh Shah--NSEL scam has resulted in tighter norms for commodity exchanges and the commodity regulator FMC (Forward Market Commission) itself being merged with market regulator SEBI.

NEW DELHI: The Reserve Bank of India (RBI) has turned down a proposal from the government to allow up to 100% foreign direct investment (FDI) in banks, a move that may come as a damper for several private sector lenders such as ICICI Bank and HDFC Bank.

Sources said the RBI has not provided a clear reason to turn down the proposal from the department of industrial policy and promotion (DIPP) that deals with FDI policy.

NEW DELHI: India's dairy products (non-fat dry milk) exports are projected to remain flat at 30,000 tonnes next year on expectations of high global supplies and low prices, according to a latest USDA report.

The country's milk output may increase by 4.8 per cent to 154 million tonnes assuming a normal monsoon in 2016, while domestic consumption of milk is forecast to rise by 5 per cent to 62.75 million tonnes in the same period, the US department of Agriculture (USDA) said.

MUMBAI: The rupee depreciated by 16 paise to 64.99 against the US currency in early trade on Monday due to strong demand for the dollar from importers.

The rupee had closed at 64.83 against the dollar at the Interbank Foreign Exchange on Friday last.

Mumbai: The bidding process by anchor investors for buying equity shares in InterGlobe Aviation Ltd will begin on Monday.

The airline firm plans to raise around Rs.1,000 crore via the anchor investor allocation, also known as the anchor book.

New Delhi: With the Reserve Bank of India (RBI) issuing the final guidelines allowing domestic companies to raise rupee-denominated overseas bonds, at least three financial institutions are preparing to raise money through this route.

India Infrastructure Finance Co. Ltd (IIFCL), Indian Railway Finance Corp. Ltd (IRFC) and NTPC Ltd are among the companies laying the groundwork to issue rupee-denominated bonds sometime early next year, according to officials at these institutions.

Vadodara: Bank employees will observe a country-wide strike on 2 December, a leading employees union said on Saturday.

All-India Bank Employees Association (AIBEA) general secretary C.H. Venkatchalam said the strike call is to press for addressing issues like de-linking associate banks from SBI and extending compassionate appointments as per government guidelines.

Maruti Suzuki has just launched its new premium hatchback, the Baleno. Named after the erstwhile Baleno sedan, the hatch has a starting price tag of Rs 4.99 lakh for the petrol variant and Rs 6.16 lakh (both prices, ex-showroom, New Delhi) for the base diesel variant.

Prices for the petrol variant go up to Rs 7.01 lakh and Rs 8.11 lakh for the top diesel variant.

A massive earthquake measuring 7.5 on richter scale on Monday jolted north India, with panic-stricken people rushing out of houses and buildings that shook during the temblor lasting almost a minute.

The earthquake epicentred in the Hindukush mountain range in Afghanistan struck at around 2.40 PM, sending ripples across several states like Jammu and Kashmir, Delhi, the National Capital Region (NCR), Punjab, Uttarakhand and Rajasthan.

Domestic mutual funds (MFs), which pumped in a record about Rs 25,000 crore in equities during July - September (Q2FY16) quarter, have seen their holding in Nifty 50 companies touch an over-decade high.

Shareholding pattern data for the quarter ended September 2015 filed by these companies with the stock exchanges reveals that the MFs' holding in the Nifty 50 companies has increased to 4.6% in September quarter, from 4.1% at the end of June quarter.

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