The Troubled Rupee
Rupee at record low as India seen lacking options to brake fall
A top official said the government has options to stem a fall in the rupee but did not offer any specifics, turning the focus on the RBI to stem a rout that sent the rupee to record lows. Full Article
REUTERS SHOWCASE
Buy, Sell or Hold?
Confused while buying stocks? Get buy, sell or hold recommendations from VantageTrade. Full Coverage
Reuters India Mobile
Get the latest news on the go. Visit Reuters India on your mobile device. Full Coverage
Govt to drop commodity trade clause from bank bill
A labourer works on the sign of a bank building in Ahmedabad November 26, 2010.
Credit: Reuters/Amit Dave/Files
NEW DELHI |
NEW DELHI (Reuters) - The government will drop a controversial clause from a banking bill pending in parliament that would have allowed banks to trade in commodity futures, Parliamentary Affairs Minister Kamal Nath said on Tuesday.
Opposition to the clause threatened to stall the passing of the bill, which is aimed at drawing foreign investment into the banking sector and increasing the Reserve Bank of India's (RBI) regulatory oversight in local banks.
"We are dropping the future clause in the banking amendment bill," Nath told Reuters.
The bill could voted on in the lower house of parliament as soon as Tuesday.
(Reporting by Nigam Prusty; Writing by Matthias Williams; Editing by Frank Jack Daniel)
- Tweet this
- Link this
- Share this
- Digg this
- Reprints
Follow Reuters