SH Khan committee wants institutions to evolve, morph into full-bodied banks
The Khan panel on harmonising the role and operations of development financial institutions (DFIs) and banks has set the agenda for universal banking. The working group has made a strong pitch for "eventually" giving full banking licences to the development financial institutions (DFIs) and called for mergers between strong banks and institutions.
Aviation policy draft will be ready by July: Kaw
The final draft of the national civil aviation policy will be ready in three months, according to civil aviation secretary MK Kaw. Kaw said that the draft had been submitted to the government for modifications to include the new policy imperatives.
Credit rates under DEPB scheme revised
The credit rates under the duty entitlement pass-book (DEPB) scheme, which was introduced last year for providing credit facility to the exporters to import raw materials at zero duty, have been revised upwards as per the current Exim policy. This is expected to benefit textile exporters who can now avail higher duty-free imports of raw materials.
Maharashtra fails to table tax bill, ordinance in the offing
The Maharashtra government, in its five-week budget session of the state legislature, has failed to table the crucial taxation bill on various resource mobilisation proposals which will bridge the Rs 846.29 crore deficit in the budget. The government will issue an ordinance in this regard within a week.
Do away with cap on institutions' resource mopup, says panel
The working group on the harmonisation of role and operations of banks and development financial institutions (DFIs) is in favour of removal of the overall ceiling for mobilisation of resources by institutions. The Khan Committee has suggested that mobilisation of resources by way of term money bonds, certificates of deposits, term deposits and inter-corporate deposits at 100% of net-owned funds of DFIs should be removed.
Khan panel moots listing of financial corporations
Public listing of stronger state financial corporations (SFCs) and merger of various state-level lending institutions (SLIs) are some of the far-reaching recommendations made by Khan committee for harmonising the role and operations of financial institutions and banks. The committee has also recommended the transfer of IDBI's stake in Small Industries Development Bank of India (Sidbi) to the RBI.
