2. Non- Banking Finance Companies (NBFCs) tell they are more competent to float a bank compared to a corporate houses As, they are already familiar with business of lending and RBI regulations. This issue was raised when RBI is to issue new –banking license. NBFCs have presence in semi-urban area & they are better candidates. RBI is keen on giving new banking license to those who are willing to provide banking services in non banking area.
3. The International Monetary Fund has projected the Indian Economy will grow by 9.7% in 2010 & 8.4% in the next fiscal, Driven by robust industrial production & macroeconomic performance. China is expected to grow by 10.5% in 2010 & 9.6% in 2011 Driven by domestic demand . Advanced economy are projected to grow by 2.7% in 2010 and 2.2% in 2011 . In china , a major fiscal stimulus, expansion in credit, increase in household income & domestic demand led to growth upto 13% in 2009.
4. Latin America has recovered strongly with real GDP growth at about 7%. Brazil GDP growth at about 10% since the third quarter of 2009. Output of emerging & developing economy expand at a rate of 7.1% & 6.4% in 2010 & 2011.
5. British Telecom in talks to sell Tech Mahindra stake Uk telecom major, British telecom,one of the original promoters of tech Mahindra. The restating of the financials of mahindrasatyam clears the way for a stake sale. BT was waiting for a clear picture to emerge on the financials before proceding with the sale process. BT is said to be expecting a 30% premium over the current market price for its stake. It is already the single largest stakeholder with over 43% stake.
6. British Telecom in talks to sell Tech Mahindra stake Bank of Japan pledged to pump more funds into the struggling economy and keeping interest rates virtually at zero Central Bank of Japan had eschewed government calls for more decisive action but in face of growing evidence Bank of Japan cut its overnight rate target
