Corporate Law Reporter - The Daily Journal

Penal interest rates on shortfall in reserve requirements which are linked to the Bank Rate stand revised

RBI/2011-12/526 UBD.BPD.(PCB).Cir.No. 32/16.11.00/2011-12 April 26, 2012 The Chief Executive Officer All Primary (Urban) Co-operative Banks Madam/Dear Sir, Bank Rate Please refer to our circular UBD.BPD.(PCB).Cir.No.26/16.11.00/2011-12 dated March 7, 2012 on the captioned subject. As announced in the Monetary Policy Statement 2012-13, the Bank Rate stands adjusted by 50 basis points from 9.50 per cent to… Read More

Monetary Policy Statement 2012-13 -Exposure to Housing, Real Estate and Commercial Real Estate – Primary (Urban) Co-operative Banks

RBI/2011-12/525 UBD.BPD. (PCB). Cir. No.31/13.05.000/2011-12 April 26, 2012 The Chief Executive Officer, All Primary (Urban) Co-operative Banks. Madam / Dear Sir, Monetary Policy Statement 2012-13 - Exposure to Housing, Real Estate and Commercial Real Estate - Primary (Urban) Co-operative Banks Please refer to our Circular UBD.BPD.(PCB). Cir. No.47/13.05.000/2010-11 dated May 11, 2011, on the above… Read More

Govt. bans the employment of children below 14 years for dhabas and domestic work

The Union Labour & Employment Minister Shri Mallikarjun Kharge has informed the Rajya Sabha that the Government of India has banned employment of children below 14 years for dhabas and domestic work. As per 2001 census, the total number of working children between the age group 5-14 years in the country was 1.26 crore out… Read More

Establishment of Connectivity with both depositories NSDL and CDSL Companies eligible for shifting from TFTS

CIRCULAR CIR/MRD/DP/ 13 /2012 April 23, 2012 To, All Stock Exchanges Dear Sir / Madam, Sub: Establishment of Connectivity with both depositories NSDL and CDSL Companies eligible for shifting from Trade for Trade Settlement (TFTS) to normal Rolling Settlement 1. It is observed from the information provided by the depositories that the companies listed in… Read More

Priority Sector Lending-Indirect Finance to Housing Sector

RBI/2011-12/524 RPCD.CO.Plan.BC.73 /04.09.01/2011-12 April 25, 2012 The Chairman/Managing Director/ Chief Executive Officer [All Scheduled Commercial Banks (excluding Regional Rural Banks)] Dear Sir/ Madam, Priority Sector Lending-Indirect Finance to Housing Sector Please refer to paragraph 6.4 of our Master Circular RPCD.CO.Plan.BC.10/04.09.01/2011-12 dated July 1, 2011 on lending to priority sector. 2. Pursuant to the announcement made… Read More

External Commercial Borrowings for Civil Aviation Sector

RBI/2011-12/523 A. P. (DIR Series) Circular No. 113 April 24, 2012 To All Category-I Authorised Dealer Banks Madam / Sir, External Commercial Borrowings (ECB) for Civil Aviation Sector Attention of Authorized Dealer Category-I (AD Category-I) banks is invited to the Foreign Exchange Management (Borrowing or Lending in Foreign Exchange) Regulations, 2000, notified vide Notification No.… Read More

Share of services sector in the GDP rises to 59%

The share of services sector in country™s Gross Domestic Product (GDP) has risen from 50.4 per cent in 2000-01 to 59.0 per cent in 2011-12 (advance estimates). Industrial growth has been antidote to poverty as the sector has general additional employment of 36.1 million as per Usual Principal and Subsidiary Status (UPSS) basis during 1999-00… Read More

Revised Model Educational Loan Scheme now includes students from minority communities

India Banks™ Association (IBA) has circulated revised Model Educational Loan Scheme to its member banks. Banks can adopt the scheme with discretion to make changes as deemed fit. The scheme is for all students including students from minority communities. Indian Nationals who have secured admission to professional/technical courses in India or abroad through an entrance… Read More

Chairperson of CCI participated in the session of Merger Working Group, sharing the experience in introducing the merger review process

International Competition Network (ICN), a network of Competition Authorities across the world, has organized its Eleventh annual conference in Rio de janerio, Brazil during April 17-20. Shri Ashok Chawla , Chairperson, Competition Commission Of India (CCI), participated in the plenary session of Merger Working Group and shared India™s experience in introducing the merger review process… Read More

Guidelines on Credit Default Swaps (CDS) for Corporate Bonds-Permitting All India Financial Institutions

RBI/2011-12/522 IDMD.PCD.4085/14.03.04/2011-12 April 23, 2012 The Chairman and Managing Directors/ Chief Executive Officers of All India Financial Institutions Dear Sir/Madam, Guidelines on Credit Default Swaps (CDS) for Corporate Bonds-Permitting All India Financial Institutions A reference is invited to our circular IDMD.PCD.No.5053/14.03.04/2010-11 dated May 23, 2011 enclosing the Guidelines on Credit Default Swaps for corporate bonds.… Read More

Union Minister of Commerce, Industry and Textiles requested Qatar to supply immediate requirement of 3 million tons of LNG to India

The Union Minister of Commerce, Industry and Textiles, Shri Anand Sharma has requested Qatar to supply immediate requirement of 3 million tonnes of LNG to India. The LNG is to be imported by Petronet LNG Ltd and GAIL. The amount will further increase to 15 million tonnes in the next three to four years. The… Read More

CBEC- Amendment in notification no. 9/2012-Customs dated 9th March, 2012

[TO BE PUBLISHED IN THE GAZETTE OF INDIA, EXTRAORDINARY, PART II, SECTION 3, SUB-SECTION (i)] GOVERNMENT OF INDIA MINISTRY OF FINANCE (DEPARTMENT OF REVENUE) Notification No. 27 /2012-Customs New Delhi, the 18th April, 2012 G.S.R. (E). - In exercise of the powers conferred by sub-section (1) of section 25 of the Customs Act, 1962 (52… Read More

Amendment in the Central Excise Rules, 2002

[TO BE PUBLISHED IN THE GAZETTE OF INDIA, EXTRAORDINARY, PART II, SECTION 3, SUB-SECTION (i)] GOVERNMENT OF INDIA MINISTRY OF FINANCE (DEPARTMENT OF REVENUE) Notification No.23/2012 - Central Excise (N.T.) New Delhi, the 18th April, 2012 G.S.R (E). In exercise of the powers conferred by section 37 of the Central Excise Act, 1944 (1 of… Read More