NATIONAL IDBI to remain stand-alone, merger not immediately
New Delhi: Days after Parliament repealed the IDBI Act, the Industrial Development Bank of India (IDBI) is believed to have decided to remain a "stand-alone" entity initially and a merger with a big PSU (Public Sector Undertaking) bank may be considered later.
Sensex hits 45-month high, crosses 5500-mark
Mumbai: Charged by a sharp rally in some heavy weighted stocks, the Sensex crossed 5500-mark and
soared to the 45-month high during trading in brisk activity on the Bombay Stock Exchange (BSE) in
Mumbai today (Dec 19, 2003) on hectic short covering by operators as well as heavy purchases by
institutional investors.
FDI limit in banks to be hiked to 74 per cent
New Delhi: Government is working out the modalities for enhancing foreign direct investment (FDI) limit
to at least 74 per cent in banks and assured it would have no impact on ownership control and
regulation of the PSU (Public Sector Undertaking) banks.
