You are here: Home » Budget » News
Business Standard

Bank Investment Company may be approved in upcoming Budget, finally

A key question is how the BIC is to be funded. To start with, it may have to be a wholly-owned government entity

Topics
Budget | Union Budget | Indian Banks Association

Hamsini Karthik & Raghu Mohan  |  Mumbai 

bank recapitalisation, psu banks
But this would make the BIC’s structure and its objective of being an investment intermediary questionable, added sources

The Centre is set to breathe life into the Bank Investment Company (BIC) in the 2021-2022, and, simultaneously, start the process of amending the Acts of 1970 and 1980, and the State Bank of India (SBI) Act of 1955.

TO READ THE FULL STORY, SUBSCRIBE NOW NOW AT JUST RS 249 A MONTH.

SUBSCRIBE TO INSIGHTS

What you get on Business Standard Premium?

  • icon Unlock 30+ premium stories daily hand-picked by our editors, across devices on browser and app.
  • icon Full access to our intuitive epaper - clip, save, share articles from any device; newspaper archives from 2006.
  • icon Curated newsletters on markets, personal finance, policy & politics, start-ups, technology, and more.
  • icon Pick your 5 favourite companies, get a daily email with all news updates on them.
  • icon 26 years of website archives.
  • icon Preferential invites to Business Standard events.

OR

Dear Reader,


Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

First Published: Mon, January 04 2021. 06:10 IST
RECOMMENDED FOR YOU