Others - Corporate Law Reporter

Scrutiny of NBFCs to Determine that they are not Crossing their Mandate

The Ministry of Corporate Affairs has recently forwarded a list of 34,754 companies which are registered under the Companies Act, 1956 and classified / categorised as Non- Banking Financial Companies (NBFCs) in the records of Ministry of Corporate Affairs and these companies may be carrying on Non-Banking Financial Institution (NBFI) activities without mandatory registration as… Read More

Gross Non-Performing Assets of Public Sector Banks

As per provisional data received from the Reserve Bank of India (RBI), the Gross Non-Performing Assets (NPAs) of Public Sector Banks (PSBs) as on 30th June 2013 was Rs. 1,76,009 crore. The Gross NPAs of PSBs were Rs. 1, 12,489crore in March 2012 and Rs. 1, 55,890 crore in March, 2013. Although the Non-Performing Assets (NPAs) of the bank has shown a… Read More

Unclaimed Money with Insurance Companies

The Insurance Regulatory and Development Authority (IRDA) have informed that as on 31st December 2012, the unclaimed money of policyholders with Life Insurance Corporation of India was Rs.732.67 crores. For the other life insurance companies and non-life insurance companies, the unclaimed money of policyholders was Rs. 3122.68 crores and Rs.1010.46 crores respectively, as on 31st… Read More

Restructuring of Loans in Public Sector Banks

The Reserve Bank of India (RBI) has informed that five complaints /representations regarding irregularities in restructuring of loans in public sector banks in the country have been received. One representation is from Institute of Cost & Works Accountants of India (ICWAI), a complaint from a Member of Parliament and three complaints are from other persons.… Read More

ICAI Announcement w.r.t. Suggestions on Revision of the Guidance Note on Audit of Banks

1. The Guidance Note on Audit of Banks, brought out by the Auditing & Assurance Standards Board (AASB) of the ICAI is an important publication providing comprehensive guidance to the members carrying out audits of banks and bank branches. Improving the quality of audit of banks is one of the prime objectives of the Guidance… Read More

RTI Online Web Portal Launched

Union Minister of State for Personnel, Public Grievances & Pensions and Prime Minister™s Office Shri V Narayanasamy has said that rtionline web portal is another milestone in the regime of RTI that will further promote participation of our citizens in the process of governance and policy making decisions of the Government.Speaking at the launch of… Read More

India China Joint Economic Group to Meet in October

Anand Sharma Raises Trade Imbalance with Chinese Trade Minister ; India China to Push for Food Security Proposal at Bali WTO Ministerial The Union Minister of Commerce and Industry Minister Shri Anand Sharma had a bilateral exchange of views with the Chinese Minister of Commerce Gao Hucheng today during his visit to Brunei where he is… Read More

GoI Discusses Ways to Curb Trade Deficit with Korea

While appreciating the 70 percent growth in the first two years of implementation of Comprehensive Economic Partnership Agreement (CEPA) with Korea, the Union Minister of Commerce and Industry Shri Anand Sharma underlined the concern that bilateral trade of late has been rather slow and has shown a negative growth rate. In a bilateral meeting with… Read More

Consumer Price Index Numbers for Agricultural and Rural Labourers

AGRICULTURAL LABOURERS RURAL LABOURERS General Food General Food State June,2013 July, 2013 June,2013 July, 2013 June,2013 July, 2013 June,2013 July, 2013 1 Andhra Pradesh 789 793 807 811 787 791 807 811 2 Asam 691 702 685 698 696 708 694 708 3 Bihar 636 649 591 606 641 654 589 605… Read More

Defence Offset Policy

30% Offset clause in contracts having indicative cost of Rs. 300 crore or more is being signed in schemes that are categorised as Buy (Global). However, in specific cases depending on the type of acquisition / strategic importance of the acquisition, waiver of the requirement of Offset obligation is obtained from the… Read More

All-India Consumer Price Index for Agricultural and Rural Labourers

A communiquÃ© received from the Labour Bureau, Ministry of Labour & Employment says The All-India Consumer Price Index Numbers for Agricultural Labourers and Rural Labourers (Base: 1986-87=100) for July, 2013 increased by 11 points each to stand at 740 ( Seven hundred and forty) points for Agricultural Labourers and 741 points (Seven hundred and forty one) for Rural Labourers. The… Read More

GoI Statement on Company Secretaries Examinations Results

The Institute of Company Secretaries of India (ICSI), functioning under the aegis of the Ministry of Corporate Affairs, here today announced the results of its both types of exams: OMR- based Foundation Programme (new syllabus); and Foundation Programme (old syllabus) which were held in June. In both the examinations girls have secured the top 3… Read More

GoI launches online Public Service Delivery System for Hotel Approvals and Related Services

Government has launched Public Service Delivery System (PSDS) for hotel approvals, classification and related services. This is a web based system. It enables all the applicants seeking approvals to track the progress of their applications online on a real time basis. The Ministry of Tourism endeavours to communicate the final decision on all such applications… Read More