Govt, opposition agree on banking bill - Chidambaram
NEW DELHI (Reuters) - The government has reached an agreement with the opposition for passing the banking amendment bill in parliament, Finance Minister P. Chidambaram told reporters on Wednesday.
The government is seeking parliamentary approval for amendments aimed at attracting more foreign investment into the banking industry, in the latest move by Prime Minister Manmohan Singh to open up Asia's third largest economy. (Reporting by Manoj Kumar;Editing by Sunil Nair)
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Sahara’s investment programmes include schemes that are similar to a typical Indian bank’s fixed or recurring deposits. But the arrest of the company's chief Subrata Roy last week and the court case over an outlawed bond scheme are raising fears among some investors who worry they will not get their money back. Full Article