Budget 2007-08 – Running Commentary

RRB’s to undertake aggressive branch expansion, SARFAESI to be applicable to them. NRE deposits can be accepted.

Reverse Mortgage products, Mortgage Guarantee Companies are new initiatives.

IOSCO conference in Mumbai.

PAN is the sole identification number for all participants in capital markets, with proper prefixes/suffixes as per instruments.

Equity in group companies can be used to raise capital. Infrastructure mutual funds to be given impetus.

2 wholly owned foreign subsidiaries of IIFCL to provide credit to Indian companies to develop infrastructure, using forex reserves.

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