Financial Daily from THE HINDU group of publications
Saturday, Jan 31, 2004
Financial Daily from THE HINDU group of publications Saturday, Jan 31, 2004 |
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Public Sector Banks Money & Banking - Financial Services Markets - Stock Markets Banks await RBI norms to enter stock broking Our Bureau
Mumbai , Jan. 30 BANKS are awaiting the Reserve Bank of India guidelines to enter the stock broking business. Senior bank officials said the Union Government was interested in allowing select banks to obtain trading cards in stock exchanges. As of now banks' exposures to the capital market have been through investments and advances. According to bank officials, initially, RBI is expected to allow four to five major banks, including State Bank of India, Bank of Baroda and Canara Bank. The move is expected to provide not only further depth to the equity market, but also help boost retailing of debt securities.
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