Chidambaram: Govt. to stand by roadmap for FDI in private banks
New Delhi: The Finance Minister, P. Chidambaram, has said the blueprint for acquisition of up to 74 per cent equity in Indian private banks by foreign banks will be announced by the month-end.

Speaking at the India Economic Summit 2004 here, Chidambaram said, "The Government stands by the March 5, 2004 notification. Foreign banks can acquire up to 74 per cent equity in Indian private banks. The roadmap for this will be uveiled by the end of this month."

On insurance, the Finance Minister said he hoped to place a Bill in Parliament during the Budget session, while a pension regulator would be in place by the end of the year.
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RBI: Rs.2, 500-crore auctions for MSS on Dec 8
Mumbai: The Reserve Bank of India has announced auctions worth Rs2,500 crore of treasury bills to be held under the Market Stabilisation Scheme (MSS) on December 8.

Analysts ascribe comfortable liquidity conditions in the market as the reason for the latest announcement. Earlier the apex bank had cancelled scheduled auctions under the Market Stabilisation Scheme (MSS) for the past four consecutive weeks.

Dealers say that the continued spate of foreign fund inflows coupled with the expected external commercial borrowings worth $1-1.5 billion this year is likely to improve rupee liquidity further, added.
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