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Recent reports indicate that India’s gross domestic product (GDP) touched US $ 3.75 trillion by FY23 and is well poised to reach the US $ 5 trillion mark by March 2026 if it sustains a. ....
The finance ministry is looking at other avenues for affordable capital infusion, including setting up of a Bank Investment Company (BIC), as the RBI has raised concern over the issuance of zero coupon bonds for recapitalisation of public sector banks (PSBs), sources said. Setting up BIC as a holding company or a core investment company was suggested by the P J Nayak Committee in its report on Governance of Boards of Banks in India . The report recommended transferring shares of the government in the banks to the BIC which would become the parent holding company of all these banks, as a result of this, all the PSBs would become limited banks. BIC will be autonomous and it will have the power to appoint the board of directors and make other policy decisions about subsidiaries. ....
Centre looks at Bank Investment Company model after RBI concern on zero coupon bonds for PSB recap Sources said that the RBI has raised some issues with regard to calculation of an effective capital infusion made in any bank through this instrument issued at par. Share Via Email | A+A A- By PTI NEW DELHI: With the RBI raising concern over the issuance of zero coupon bonds for recapitalisation of public sector banks (PSBs), the Finance Ministry is examining other avenues for affordable capital infusion including setting up of a Bank Investment Company (BIC), sources said. Setting up a BIC as a holding company or a core investment company was suggested by the PJ Nayak Committee in its report on Governance of Boards of Banks in India . ....
Finmin looks at BIC model after RBI raises concern over zero coupon bonds for PSBs recap Synopsis The report recommended transferring shares of the government in the banks to the BIC which would become the parent holding company of all these banks, as a result of this, all the PSBs would become limited banks. BIC will be autonomous and it will have the power to appoint the board of directors and make other policy decisions about subsidiaries. Getty Images NEW DELHI: With the RBI raising concern over the issuance of zero coupon bonds for recapitalisation of public sector banks (PSBs), the Finance Ministry is examining other avenues for affordable capital infusion including setting up of a Bank Investment Company (BIC), sources said. Setting up a BIC as a holding company or a core investment company was suggested by the P J Nayak Committee in its report on Governance of Boards of Banks in India . ....
FinMin considers BIC model as RBI flags zero-coupon bonds for bank recapitalisation Setting up a BIC as a holding company or a core investment company was suggested by the P J Nayak Committee in its report on Governance of Boards of Banks in India PTI | January 16, 2021 | Updated 22:30 IST Finance Minister Nirmala Sitharaman With the RBI raising concern over the issuance of zero coupon bonds for recapitalisation of public sector banks (PSBs), the Finance Ministry is examining other avenues for affordable capital infusion including setting up of a Bank Investment Company (BIC), sources said. Setting up a BIC as a holding company or a core investment company was suggested by the P J Nayak Committee in its report on Governance of Boards of Banks in India . ....