The leadership change was one of several announced by the second largest U.S. bank. It also elevated Faiz Ahmad to jointly lead global capital markets with Sarang Gadkari. Ahmad currently runs the Global Transaction Services (GTS) unit.
All these requests will be considered by the Board of Approval (BoA), headed by Commerce Secretary Rajeev Kher, on February 20. The BoA is a 19-member inter-ministerial body that deals with SEZ-related matters.
As many as 30 SEZs have been given more time to execute their projects. Posco-India Pvt Ltd, Unitech Infracon and Lodha Dwellers have also requested for additional time to implement their projects.
According to Claudio Piron, the US 10-year bond yields will be touch 2.75 percent by the end of Q3 due to anticipation about the Fed tapering in Q3.
Reliance Industries today won government approval to de-notify over 40 percent of its Special Economic Zone in Gujarat as it plans Rs 45,000 crore projects in that area to cater to domestic market.
The rupee is likely to trade at the 53 level to a dollar by March with a likelihood of the Reserve Bank buying dollar if rupee touches 52 level, a report of Bank of America Merrill Lynch said.
The Board of Approval (BoA) for Special Economic Zones (SEZs) headed by Commerce Secretary Rahul Khullar is scheduled to meet on July 22 to discuss matters like setting up new SEZs in the country.