A hedge fund is a private investment fund that charges a performance fee and is typically open to only a limited range of qualified investors and require a very large initial minimum investment.

According to investopedia, You can think of hedge funds as mutual funds for the super rich. They are similar to mutual funds in that investments are pooled and professionally managed, but differ in that the fund has far more flexibility in its investment strategies.

The Reserve Bank of India said it put on hold its approval for a banking license to UBS AG. UBS AG is a diversified global financial services company, with its main headquarters in Basel & Zürich, Switzerland.

India’s Finance Ministry is behind the move and blocked UBS because of what it regards as the UBS bank had not helped track to track the alleged money laundering by Hasan Ali Khan, a controversial businessman best known in India for his stud farm in Pune.

RBI has limited the number of new branch licenses to between about 12 and 20 a year.

India’s Reliance Power Ltd whose initial public offering was the biggest and most-hyped in the world this year — plummeted on its first day of trading.

The firm raised 2.9 billion dollars in just 60 seconds in a hugely popular initial public offering in January,

Shares in the power-generation start-up company closed at 372.50 rupees ($9.40) each, 17% below the price of 450 rupees at which many investors purchased shares last month. There had been widespread expectations that the stock might double on its debut, but investors in India have turned negative in the weeks since the IPO.

Due to the possible impact of US slowdown on Indian economy, Finance Minister P Chidambaram has said that through fiscal prudence, high domestic savings and investment, India should aim to grow at over 9 %.

“We have to do right things and avoid doing the wrong things… Continue fiscal prudence. Two: Ensure that people save and invest and there is enabling environment for investors, both domestic and foreign,” Finance Minister told BBC World Service in an interview.

When asked about his most challenging task, Chidambaram said, “to ensure that the economy grows at no less than 8 % a year.”