Central Government set up a 25 member development council for the cement industry under Dalmia Bharat Group MD, Puneet Dalmia. The committee will suggest ways to eliminate waste, obtain maximum production, improve quality, reduce costs and promote standardization of products.
Reserve Bank of India has formed a six member panel to carry out a comprehensive review of the working of Asset Reconstruction companies in the financial ecosystem. This panel will be haded by former RBI executive director, Sudharsan Sen.
International financial services centres Authority constituted an expert committee on investment funds. The chairman of the committee is Nilesh Shah, the Managing Director of Kotak Mahindra Asset Management Co Ltd.
RBI increased the limit for Way and Means Advances for state governments and Union Territories by 46%, based on the recommendation of committee headed by Shri Sudhir Shrivastava.
Reserve Bank of India appointed panel under the chairmanship of N S Viswanathan suggests four tier structure for urban co operative banks, minimum capital to Risk Weighted Assets Ratio for them could vary from 9 percent to 15 percent. The committee said that UCBs can be split into four categories, Tier 1 with deposits up to 100 crores, Tier 2 with deposits between 100 to 1000 crore, Tier 3 with deposits between 1000 to 10000 crores and Tier 4 with deposits of over 10000 crores.
Advisory group to assist the second Regulatory Review Authority headed by S Janakiraman will assist the authority to identify areas, guidelines, regulations and returns. It will submit reports periodically to RRA that will provide suggestions and recommendations. The authority is headed by M Rajeshwar Rao. The authority is to function for a period of one year and it will review the regulatory prescription internally.
The RBI has set up a standing external advisory committee, headed by Ms. Shyamala Gopinath, this panel will evaluate the applications for the universal banks and small finance banks.
SEBI reconstituted taken over panel which looks into the applications that seek exemption from the mandatory open offer that a acquirer needs to make to minority shareholders. The Chairman of the panel is Justice N K Sodhi.
Union Cabinet approved an increase in the dearness allowance to central government employees and pensioners to 28%