Headed for mergers

Article Abstract:

The Reserve Bank of India (RBI), the country's central bank, is implementing reforms of the banking system designed to eliminate weak productivity, bad loans and insufficient capital reserves. The reforms, featuring a new system for reporting annual accounts, caused 11 of the country's 28 public sector banks to report losses in the year ending Mar 1993. Public sector banks are dominant in India. Some observers fear that the RBI's reforms may not be enough to revive the banking system. A wave of bank mergers is possible as banks strive to head off failure.

Banking industry, Laws, regulations and rules, Forecasts and trends, Bank mergers, Bank reserves, Reserve Bank of India

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Open house in India: investment reforms get a qualified welcome

Article Abstract:

Direct foreign institutional investment in India was finally allowed on Sep 14, 1992. The announcement has attracted several investment bankers eager to form partnerships with local companies and merchant banks. Before the new policy was announced, foreign investment in India was limited to country funds and global depositary receipts of Indian companies. However, foreign bankers appear to be more inclined to promote Indian global equity issues rather than enter into the local stock market.

Security brokers and dealers, Investment banks, International aspects, Economic policy, Institutional investments

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Sanctions, so what?

Article Abstract:

India is seeking to prove that US and Japanese sanctions will not stop it attracting foreign investment. It is particularly looking to attract funds from Indians living abroad, and for this reason has launched Resurgent India Bonds denominated in foreign currency. These are available only to Indian investors. It is anticipated that between 40% and 50% of the deposits will be raised from Southeast Asia and the Middle East, with a further 25% coming from the 1 million Indians based in the US.

Government Bonds, Economic sanctions, Sanctions (International law), Government securities

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