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R Gandhi committee of RBI recommends conversion of UCBs into regular banks

A Reserve Bank of India (RBI) committee has recommended conversion of Urban Cooperative Banks (UCBs) with business size of 20,000 crore rupees or more into regular banks. This recommendation was given by the High Powered Committee on UCBs headed by RBI Deputy Governor R Gandhi in its report. Recommendations Conversion of UCBs will not be… Read More »


SEBI bars 59 entities from trading for manipulating markets and evading taxes

The Securities and Exchange Board of India (SEBI) has barred 59 entities from trading in Bombay Stock Exchange due to alleged manipulation of the stock exchange route for evading taxes. As per the order of SEBI these 59 entities will not conduct any activity of trading, buying, selling or dealing in the securities markets, either… Read More »


Ashwani Lohani appointed as CMD of Air India Ltd.

Union Government has appointed Ashwani Lohani as Chairman and Managing Director (CMD) of state owned national carrier Air India Ltd. His name was cleared by the Appointments Committee of Cabinet (ACC) chaired by Prime Minister Narendra Modi. He will have tenure of three years and succeed senior IAS officer Rohit Nandan whose extended tenure is… Read More »


BSE extends direct market access facility to foreign portfolio investors (FPI)

On 19 August the Bombay Stock Exchange (BSE) has extended the direct market access facility (DMA) to foreign portfolio investors (FPI). Henceforth, the foreign investors will have direct access to the exchange trading system in Indian stock market without any manual interventions of the broker. Earlier FPI had to conduct stock exchange trading in BSE through the… Read More »