- Anup Bagchi is new chief of I-sec
- Subbarao meets FM ahead of credit policy
- FII cap on infra bonds, debentures up: RBI
Anup Bagchi is new chief of I-sec
ICICI Securities Ltd (ISec) managing director and chief executive officer Madhavi PuriBuch will go on a sabbatical and Anup Bagchi will lead the company from 1 May.
“Madhabi PuriBuch, currently man aging director and CEO, ICICI Securities, will move to ICICI Bank Ltd and proceed on a sabbatical for personal reasons, to join her husband who is based over seas”, ICICI Securities said in a statement. Bagchi, who is presently the executive director at ICICI Securities, would head the company's initiatives in corporate finance.
Subbarao meets FM ahead of credit policy
Reserve Bank of India governor D. Subbarao on Friday called on finance minister Pranab Mukherjee to discuss the state of economy ahead of the apex bank's monetary policy next week. “As a standard practice, I had come to review the macro economic situation with the finance minister and senior officers ahead of the policy review”, Subbarao told reporters after meeting Mukherjee. RBI is scheduled to announce the annual credit policy on 3 May in Mumbai.
FII cap on infra bonds, debentures up: RBI
In a bid to boost investment in the infrastructure sector, the Reserve Bank of India on Friday hiked the limit on FII investment in listed nonconvertible debentures and bonds issued by core segment companies by $20 billion (`88,800 crore).
Till now, the limit for such investment was $15 billion in corporate debt, with an additional limit of $5 billion in bonds with a residual maturity of over five years.
This additional limit has been raised to $25 billion, taking the maximum limit of FII investment in bonds and nonconvertible debentures issued by infrastructure companies to $40 billion, RBI said in a notification. The apex bank added that such investments by FIIs would have a minimum locking period of three years. However, the FIIs can trade among themselves during the locking period.
