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RBI notifies FDI in single brand retail
- Removal of the investment cap is likely to help global fashion brands, especially from Italy and France, to strengthen their interest in the growing Indian market.
Private, foreign banks can't pay ‘excessive' salary to CEOs: RBI
- The Reserve Bank of India said CEOs and staff of private and foreign banks could not draw ‘excessive' salary
- However, the guideline did not specify what would constitute excessive renumeration.
- While designing the compensation arrangements it should be ensured that there is a proper balance between fixed pay and variable pay
QFIs not allowed to issue PNs
- The Securities and Exchange Board of India on Friday said that Qualified Foreign Investors (QFIs) should not issue offshore derivatives instruments / participatory notes (PNs).
- The market regulator also asked depositories to ensure that “aggregate shareholding of all QFIs shall not exceed 10 per cent of the paid-up capital of the company at any point of time, in respect of each equity share class having separate and distinct ISIN (International Securities Identification Number).”
- Foreign investors who met the prescribed Know Your Customer (KYC) requirements could invest in equity shares
