HSBC Holdings Plc, Europe's biggest bank by market value, hired Sanjay Bajaj to head its equity capital markets business in India, Asia's fastest growing market for selling new stocks, according to an internal memo.

Sebi has told FIIs that their allocations on bond investment will be taken way if they fail to scale up their investments, reports Our Bureau. However, with interest rates in hardening overseas, there is very little opportunity to make money from such arbitrage deals.