Tax Tangle
Infosys to challenge new tax demand
Infosys Ltd, India's No. 2 software services exporter, said on Monday it would challenge a 5.77 billion rupees income tax demand raised by Indian authorities earlier this month. Full Article
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Expect $30-35 bln equity dilution from Basel III - Macquarie
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People perform transactions at a bank in Srinagar August 19, 2008.
Credit: Reuters/Fayaz Kabli/Files
Reuters Market Eye - The RBI directives to meet Basel III regulations could lead to an equity dilution in banks of roughly $30-35 billion over the next five years, Macquarie says.
"Frequent dilutions will be required to support growth and also simultaneously maintain the CAR levels and capital buffers," Macquarie says.
Public banks would be especially impacted. Pension liability provisions will pull down the common equity ratio by around 50 basis points for these banks, Macquarie predicts.
View contrasts with Goldman, which on Thursday said it did not expect a significant impact from Basel III requirements on Indian banks.
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