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ions of Cairn India Ltd. (532792.BY), and could jeopardize the biggest deal so far in India's oil and gas sector. The ministerial panel, headed by Finance Minister Pranab Mukherjee, which met Friday evening to view the deal, didn't disclose what will they recommend federal cabinet committee on economic affairs. Oil Minister Jaipal Reddy told reporters Friday that the panel will submit its recommendations "as early as possible" with an outer limit of two weeks. Vedanta in August proposed acquiring up to 60% in Cairn India Ltd. (532792.BY), mainly from parent Cairn Energy and partly through an open offer to Cairn India shareholders as it sought to get a foothold in India's oil and gas sector. The proposed sale has lingered for months as the Indian government held back its approval in order to resolve issues of payment of taxes and royalties on a key onshore block in the northwestern state of Rajasthan. State-run Oil & Natural Gas Corp. (500312.BY) owns a 30% stake in Cairn India's Rajasthan oil block, but pays the entire royalty on production under the federal government's previous policy of giving discounts to attract investors. ONGC is expected to pay $3.08 billion in royalty fees over the life of the field. It maintains royalty should be an expense added to the cost of the project and recovered from the sale of oil. Cairnin places like Hong Kong and Singapore. Such outsourcing is illegal in Korea. "Such practices are part of the foreign banks' desire to manage their entire Asian portfolio," Kim said. "In cases of big investment banks, trading on a regional level can have a great impact on the domestic financial markets as such management can lead to sharp changes to the portfolios of the banks' local branches." The FSS plans to inspect 15 foreign banks operating in Korea every year to monitor their fund management from this year, citing the need to proactively manage potential market risks. "Foreign banking branches (in Korea) are considered to have a great effect in increasing the volatility of capital flows in and out of the market," the FSS said in a separate statement, adding such branches tend to take on short-term foreign currency borrowings to conduct derivatives or government bonds trading. Kim told reporters HSBC Holdings PLC and Credit Agricole S.A. have already been sanctioned for improper outsourcing of operations involving derivatives. He added that another European bank may be sanctioned fo