Bizbits

Vijay Kelkar on RBI board

MUMBAI: The Reserve Bank of India has nominated Union finance secretary Vijay Laxman Kelkar to the central bank8217;s board under Section 8 1 d of the RBI Act 1934. He replaces former finance secretary Montek Singh Ahluwalia who has been appointed as member, planning commission. Kelkar attended the RBI board meeting at Hyderabad on Wednesday which is believed to have discussed the UTI issue in detail.

Sebi extends demat deadline

MUMBAI: Sebi has extended the deadline for seven companies where institutions had been asked to trade only in demat shares from October 15 onwards. The seven companies are Colgate, Bharat Heavy Electricals Ltd, Hindustan Zinc, HMT, IBP, Bharat Earth Movers and Bharat Electronics. These seven companies have either signed up with NSDL only recently or are in the process of completing the formalities for signing the agreement. It has thereforedecided to postpone the date for compulsory demat trading in respect of these companies to December15 when another 125 scrips will be traded in demat form.