Others - Corporate Law Reporter

FM Speak :: Banks must ensure flow of Credit to Every Sector of Industry

FM: Banks must ensure flow of Credit to Every Sector of Industry; Bankers told to be Sympathetic and have Humane Approach towards Genuine Defaulters The Union Finance Minister Shri P. Chidambaram said that banks must ensure flow of credit to every sector of industry. He said that bankers have been told to be sympathetic and have… Read More

Government initiatives to prevent the sale of spurious/ adulterated drugs

Some cases of sale of spurious, sub-standard and expired drugs have been detected by the State Drugs Control Authorities. A statement giving the details of number of drugs samples tested, number of drugs samples declared not of standard quality, number of drug samples declared spurious/ adulterated, number of prosecutions launched for manufacturing, sale and distribution… Read More

Drug Trial Policy

In order to strengthen the regulatory provisions and the monitoring mechanism of clinical trials in the country, Drugs and Cosmetics Rules, 1945 have been amended as follows:- A. Amendment vide Gazette Notification G.S.R. 53 (E) dated 30-01-2013 specifying procedures to analyze the reports of Serious Adverse Events occurring during clinical trials and procedures for payment… Read More

Clarification on Task Force on Currency Swap for Trade

As per the announcement by Union Minister for Commerce and Industry Shri Anand Sharma, a Task Force on Currency Swap Arrangements for Trade was formed yesterday. In this regard Commerce Secretary Shri S. R. Rao has clarified as follows: A Task Group has been formed within the Department of Commerce, also including EXIM Bank, ECGC… Read More

Constitution of Task Force on Currency Swap Arrangements and Trade

In view of the rising trade deficit and consequent current account deficit, a need has been felt to examine the role of Currency Swap Arrangement/Agreements in order to suggest a possible mechanism to address the issue. It has been decided to constitute a Task Force on Currency Swap Arrangements/Agreements. The Task Force will have the… Read More

Computerisation of PDS

For modernisation of the Targeted Public Distribution System (TPDS) including ensuring that foodgrains reach the intended beneficiaries, Government has approved Component-I of Plan Scheme for End-to-end Computerization of TPDS Operations. Component-I of the scheme comprises activities, namely, digitization of ration card/beneficiary and other databases, computerization of supply-chain management, setting up of transparency portal and grievance… Read More

Special Tourist Police Stations

In order to ensure safety and security of tourists, including foreign tourists, Ministry of Tourism has advised all the State Governments/Union Territory Administrations to deploy Tourist Police in the States/Union Territories. ˜Public Order™ and ˜Police™ are State subjects as per the Seventh Schedule of the Constitution of India. As such, the prevention of crime, including… Read More

Extension of Visa on Arrival To 4 more locations

Ministry of Home Affairs (MHA) has decided to extend Tourist Visa on Arrival facility (TVoA) at four additional airports viz. Trivandrum, Bangalore, Hyderabad & Kochi. TVoA facility is available at four International airports in the country viz. Delhi, Mumbai, Chennai and Kolkata for the nationals of Japan, Singapore, Finland, Luxembourg, New Zealand, Cambodia, Laos, Vietnam,… Read More

Achievement of Millennium Development Goals

The Millennium Development Goals (MDGs) report -2013 released by the United Nations has presented data on progress made towards the Millennium Development Goals and targets for the world as a whole and for sub-regions, each sub-region comprising of a group of countries. Separate data to indicate India™s progress on Maternal Mortality Ratio and Infant Mortality… Read More

Regulation of Commission Rate to Insurance Sales Agents

The Insurance Regulatory and Development Authority (IRDA) has notified Insurance Regulatory and Development Authority (Linked Insurance Products) Regulations, 2013 wherein, Regulation (9) prescribes levels of commission under the linked insurance products. Similarly Commission norms in respect of non linked products have been prescribed in Regulation (21) of Insurance Regulatory and Development Authority (Non-Linked Insurance Products) Regulations, 2013. As… Read More

Safefuards in New Banking Licence Norms

Reserve Bank of India (RBI) issued guidelines for setting up new banks in the private sector vide Press Release dated 22.02.2013. The last date for receipt of applications was 01.07.2013. In all, RBI has received 26 (twenty six) applications. At the first stage, the applications will be screened by RBI to ensure prima facie eligibility… Read More

Investment of Banks in Money Laundering

The contravention of any of the directions and instructions issued by Reserve Bank of India (RBI) under the Banking Regulation Act, 1949 is an offence punishable under sub-section (4) of Section 46 of the Banking Regulation Act. In terms of sub-section (1) of Section 47A of the Banking Regulation Act, 1949, if a contravention or… Read More

Policy for Import of Fertilizers

Import of urea in the country is restricted and permitted through three State Trading Enterprises i.e. MMTC Limited, State Trading Corporation of India Limited and Indian Potash Limited. Import of all other fertilisers is free and importers are importing these fertilizers under Open General License (OGL) as per their requirements. The P&K fertilisers like DAP, various grades of complex fertilisers and SSP… Read More