I-bankers scrum over fees

With several marquee deals up for grabs, investment bankers are again undercutting each other. Sources say, banks were quoting fees of around one per cent for bagging the $2-billion-plus Vodafone IPO mandate.

Although the fees were not as low as they quote for PSU disinvestment, it was still half the average fee of two per cent they charge for IPOs. The trend is likely to continue with private sector life insurers too scouting for i-bankers, say industry players.

More changes in gold policy?

Gold traders have been taken by surprise at the Reserve Bank of India's latest move to renew import licences to banks for only one quarter. Traditionally, this licence is given for one year. This has led sector veterans to believe more policy changes could be on the anvil for gold imports. While the market is unsure about the next step, government officials say as there is a need to promote the gold monetisation scheme, there is expectation of restrictions on imports because smart traders can use the opportunity to import gold and put it in the monetisation scheme for additional returns.

Salary disclosure sparks HR concerns for MFs

Within a week of declaring salaries of officials earning over Rs 60 lakh annually, there is a strong feeling in the mutual fund sector that the pitch has been queered further for fund houses. Most fear that attrition rates may go up as there would be many unhappy fund managers and marketing professionals within the same fund house getting lower salaries despite having spent more years or even doing a better job than younger or less-experienced persons. Some of these people could be seen by other fund houses as ideal candidates for poaching as well.