Bank employees strike today
Over 13 lakh employees of public sector banks and Reserve Bank of India will observe a one-day nationwide strike on Thursday to protest the proposed privatisation of nationalised banks, the United Forum of Bank Union (UFBU), which has called the strike, said on Wednesday. However, the Indian National Bank Officer's Congress (Inboc), National Organisation of Bank's Officers (NOBO) and Indian National Bank Employees Federation (INBEF) are not participating in the strike.

Presidential assent for Short Cos Bill
The President on Wednesday gave his assent to the Companies (Amendment) Bill that seeks to ensure good corporate governance and protect investors' interest by entrusting Sebi with powers to prosecute defaulting companies.

RBI's new norms next week
The Reserve Bank of India (RBI) is slated to announce its new norms for setting up a fresh lot of private sector banks next week. Norms for old private sector banks to attain the necessary net worth requirement are also to be issued. This was stated by RBI deputy governor SP Talwar on the sidelines of a press conference in Mumbai.

RS passes Nabard Bill
The Rajya Sabha on Wednesday passed the National Bank for Agriculture and Rural Development Amendment Bill, which seeks to increase the bank's capital to Rs 5,000 crore. Replying to the discussions in Rajya Sabha, Minister of State for Banking Balasab Vikhe Patil assured to make Nabard into a farmer and common man-friendly bank.

IDBI offloads 51% of Sidbi
The Industrial and Development Bank of India has fixed the share price of its subsidiary Small Industries Development Bank of India (Sidbi) at Rs 30 a share and is expected to make a capital gain of Rs 460 crore this fiscal. The IDBI board approved the proposal of offloading 51 per cent stake in Sidbi, top IDBI officials said after a meeting in New Delhi.

IFCI wholetime director resigns
IFCI wholetime director Tapan Ganguli, who was heading the credit department, has resigned. Mr Ganguli is the senior-most official to have quit the financial institution after three general managers put in their paper during the last few months and one was sacked last year.

Wipro buys out 45% of Wipro Net
Wipro Ltd on Wednesday announced that it has acquired a 45 per cent stake in the Internet service provider Wipro Net Ltd, from Dutch telecommunications operator KPN Telecom at Rs 108.8 crore.

HLC on capital markets meets today
The High Level Committee (HLC) on capital markets, to meet in Mumbai on Thursday, is expected to discuss, inter alia, the issue of allowing mutual funds to invest abroad in securities other than those presently allowed like ADRs or GDRs of domestic companies, and evolve a blue print for the coordinated efforts required for regulation of the insurance sector.