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.<br />This issue was raised when RBI is to issue new –banking license.<br />NBFCs have presence in semi-urban area & they are better candidates.<br />RBI is keen on giving new banking license to those who are willing to provide banking services in non banking area.<br />
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.<br />China is expected to grow by 10.5% in 2010 & 9.6% in 2011 Driven by domestic demand .<br />Advanced economy are projected to grow by 2.7% in 2010 and 2.2% in 2011 .<br />In china , a major fiscal stimulus, expansion in credit, increase in household income & domestic demand led to growth upto 13% in 2009.<br />
Latin America has recovered strongly with real GDP growth at about 7%.<br />Brazil GDP growth at about 10% since the third quarter of 2009.<br />Output of emerging & developing economy expand at a rate of 7.1% & 6.4% in 2010 & 2011.<br />
British Telecom in talks to sell Tech Mahindra stake <br />Uk telecom major, British telecom,one of the original promoters of tech Mahindra.<br />The restating of the financials of mahindrasatyam clears the way for a stake sale.<br />BT was waiting for a clear picture to emerge on the financials before proceding with the sale process.<br />BT is said to be expecting a 30% premium over the current market price for its stake.<br />It is already the single largest stakeholder with over 43% stake.<br />
British Telecom in talks to sell Tech Mahindra stake <br />Bank of Japan pledged to pump more funds into the struggling economy and keeping interest rates virtually at zero<br />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<br />
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