RBI Releases Draft Guidelines on Composition of Capital Disclosure Requirements
The Reserve Bank of India today released on its website, Draft Guidelines on ˜Composition of Capital Disclosure Requirements™ for comments and feedback. Comments/feedback on the draft guidelines may be sent by February 9, 2013 to the Chief General Manager-in-Charge, Department of Banking Operations and Development, Reserve Bank of India, Central Office Building, 12th Floor, S.B.… Read More
Basel III Disclosure Requirements on Regulatory Capital Composition
RBI/2012-13/ DBOD.No.BP.BC. /21.06.201/2012-13 January 10, 2013 The Chairman and Managing Directors/ Chief Executives Officers of All Scheduled Commercial Banks (Excluding Local Area Banks and Regional Rural Banks) Dear Sir, Draft Guidelines on Composition of Capital Disclosure Requirements Please refer to the paragraph 87 (extract enclosed) of the Second Quarter Review of Monetary Policy Statement 2012-13 announced… Read More
Banks™ Exposures to Central Counterparties
RBI/2012-13/ DBOD.No.BP.BC. /21.06.201/2012-13 January 10, 2013 The Chairman and Managing Directors/ Chief Executives Officers of All Scheduled Commercial Banks (Excluding Local Area Banks and Regional Rural Banks) Dear Sir, Draft Guidelines on Capital requirements for bank exposures to central counterparties Please refer to the paragraph 88 (extract enclosed) of the Second Quarter Review of Monetary… Read More
Draft Guidelines on Capital requirements for bank exposures to central counterparties
The Reserve Bank of India today released on its website, Draft Guidelines on ˜Capital requirements for bank exposures to central counterparties™ for comments and feedback. Comments/feedback on the draft guidelines may be sent by January 31, 2013 to the Chief General Manager-in-Charge, Department of Banking Operations and Development, Reserve Bank of India, Central Office Building,… Read More
GAAR Tax Laws deferred till April 1, 2016
The government has taken a major step in boosting overseas participation and provide a relief to the overseas investors. They have done this by postponing the implementation of provisions under the General Anti Avoidance Rules (GAAR ) by two years, till April 1, 2016. Giving a big relief to overseas investors, The Finance Minister, Mr. P… Read More
Supreme Court has stayed the SAT order against HSBC MF
In May 2011 the Securities Appellate Tribunal (SAT) had ruled and directed HSBC Mutual Fund to compensate unit holders who had reported suffering losses when the fund house had changed the scheme attributes without informing. The Chief Justice Altamas Kabir led three-judge bench has granted the stay on the SAT ruling. This will come into effect… Read More
No headway in tax avoidance agreement with Mauritius
The Finance Minister Mr. P. Chidambaram today clarified that there has been no headway in the talks on tax avoidance agreement with Mauritius. The discussion process with the island nation has been under way for quite some time, however, no real progress has been seen till date. The Joint Working Group (JWG), which had been constituted… Read More
Exim Bank’s Line of Credit to the Government of the Kingdom of Swaziland
RBI//2012-13/380 A.P. (DIR Series) Circular No.75 January 15, 2013 To All Category - I Authorised Dealer Banks Madam / Sir, Exim Bank's Line of Credit of USD 37.90 million to the Government of the Kingdom of Swaziland Export-Import Bank of India (Exim Bank) has concluded an Agreement dated October 01, 2012 with the Government of the… Read More
CBEC notification on amendments in tariff values of specific goods
In exercise of the powers conferred by sub-section (2) of Section 14 of the Customs Act, 1962 (52 of 1962), the Central Board of Excise & Customs(CBEC), being satisfied that it is necessary and expedient so to do, hereby makes the following amendment in the notification of the Government of India in the Ministry of… Read More
Four FDI Proposals Approved by FIPB
Based on the recommendations of Foreign Investment Promotion Board (FIPB) in its meeting held on December 31, 2012, the Central Government has approved four (04) proposals of Foreign Direct Investment (FDI) amounting to Rs. 1286.75 crore approximately. The following four (04) proposals have been approved. Sl. No. Name of theapplicant Particulars of the proposal FDI/NRIinflows (` In crore) INDUSTRIAL POLICY & PROMOTION 1 M/s PranBeverages (India) Pvt. Ltd., Kolkata Change in foreign collaborator and increase in foreign equity participation to carry out the business of… Read More
Indo-South Africa Preferential Trade Agreement
India, South Africa agree for Early Finalisation of India-SACU PTA Negotiations Sharma Flags India™s Concerns on Market Access to Bovine Meat The Union Minister for Commerce, Industry & Textiles Shri Anand Sharma and Mr Rob Davies, Minister of Trade and Industry, Republic of South Africa, today reviewed the India- Southern African Custom Union (SACU) Preferential… Read More
Major Recommendations of Expert Committee on GAAR Accepted
The Central Government has carefully considered the report of the Expert Committee on General Anti Avoidance Rules (GAAR) and accepted the major recommendations of the Expert Committee with some modifications. This was announced by the Union Finance Minstar Shri P.Chidambaram here today in a press conference. The Finance Minister said that the following decisions have been taken… Read More
Wholesale price indices – Review of December’12 Numbers
The Ministry of Commerce and Industry released a review of the numbers for wholesale price index for the month of December 2012. The official Wholesale Price Index for ˜All Commodities™ (Base: 2004-05 = 100) for the month December, 2012 declined by 0.1 percent to 168.6 (Provisional) from 168.8 (Provisional) for the previous month. INFLATION The… Read More
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