Profit

Banking on a compromise, short on FDI

PUBLISHED ON: November 14, 2006

   
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Banks can't bank on the new Banking Regulation Act to attract big ticket FDI, because the Finance Ministry has decided to back off from making any radical changes that could annoy the Left. Right now, foreign stakeholders in an Indian bank have a maximum of 10 per cent voting rights in an AGM, however high their stake might be.
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