Banks in the developed world are reducing headcount in various departments as opportunities to trade evaporate amid tight laws on proprietary trading.
G. Gopalakrishna, an executive director at the RBI who was superseded for deputy governor’s post, may be offered the job to head the Centre for Advanced Financial Research and Learning.
Experts said gold and real estate prices may increase while individuals could face difficulty making transactions, leading to the mushrooming of agents.
G Gopalakrishna, an executive director at RBI who was superseded for deputy guv’s post, may be offered the job to head CAFRAL, a fledgling research body.
Deputy governor appointment may trigger finance ministry, RBI tussle; ignoring G Gopalakrishna irks North Block
RBI's decision to exclude G Gopalakrishna, the senior most RBI executive director, from the shortlist has not gone down well with the finance ministry.
The bank had last tapped the international market in early 2011, when it raised $500 million under its medium-term note programme.
Bank of Baroda has issued dollar bonds worth around $500 million for 5.5 years at a coupon rate of treasury plus 330 basis points.
The packages were worked out anticipating that a possible pickup in economic activity would boost the cash flows of companies, said a senior banker.
"The quantum of the current issue is still being worked out. However, it would not be a huge amount," said a banker in the know of the development.
Individuals can invest a minimum of Rs 5,000 and go up to Rs 5,00,000 per annum. Interest earned on the bond taxable.
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