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Cabinet Committee approves 49 % FDI in insurance
New Delhi-Union Cabinet on Economic Affairs has approved the release of 10 million tonnes of wheat for sale in the open market.The decision is aimed at augmenting domestic supply and thereby checking the price of the commodity in the market.The move would also help in reducing storage pressure on the Food Corporation of India.Union Cabinet today approved the proposal to raise the foreign direct investment, FDI, in insurance sector to 49 per cent, from the current level of 26 per..

RBI-More scrutiny needed over non-banking financial institutions
Raghuram Rajan,Governor of Reserve Bank of India said that more scrutiny is needed over non-banking financial institutions while the public sector banks already work under the supervision of multiple agencies.Addressing at the Central Bank in Colombo on the need for Capital regulation, Dr Rajan cautioned against the tendency of over regulation which constrains the banks in times of trouble.He advocated careful regulation during financially good times..

Union Cabinet nod for SEBI Act amendment bill
New Delhi-Govt has approved the SEBI Act amendment bill to give more powers to the market regulator. The bill will replace SEBI ordinance which was re-promulgated in March this year.The bill has provisions to empower the SEBI chairman to order searches and seziures and crack down on ponzi schemes.It also seeks to empower SEBI to regulate all money pooling scheme worth over hundred crore rupees.Bill will also authorise SEBI to call for information like phone call records for adding its security transactions investigat..



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