Guidelines on Infra Debt Funds soon
The government today said the capital market route is one of the options for allowing foreign investors in the proposed infra debt fund. The fund is aimed at meeting financing needs of the core sector, pegged at USD 1 trillion during 12th Plan (2012-17). The guidelines on infra debt fund is expected in the coming… Read More
RBI to launch policy on new bank branches
The Reserve Bank will soon release guidelines for implementing its proposal to locate at least a quarter of the new bank branches in the unbanked areas, which generally fall in the rural areas. "RBI will issue guidelines for 25 per cent rural branches soon," said a banker present at the central bank's post-policy meeting today.… Read More
India signs DTAA with Ethiopia to check tax Evasion
India has signed a Double Taxation Avoidance Agreement (DTAA) with Ethiopia to check tax evasion and facilitate exchange of banking information. The agreement was signed by External Affairs minister S M Krishna and Ethiopia's minister of Finance and Economic Development Sufian Ahmed, in the presence of Prime Minister Manmohan Singh and his Ethiopian counterpart Meles… Read More
National Consultation on Electoral Reforms on 2nd &3rd July 2011
7th Regional Consultation in Guwahati on 12 June 2011 The National Consultation on Electoral Reforms is scheduled to be held on 2 & 3 July, 2011 and shall be attended amongst others by the Prime Minister of India. The Ministry of Law and Justice, Government of India, had constituted a core committee to look into… Read More
No filing of IT return- if you are earning 5 lac annually
 Finance Minister Pranab Mukherjee brought a sigh of relief for many whoes earnings are 5 lac per annum as they no longer have to file the Income Tax return. The only requirement that has been set for the people coming under this slab is that in case such a salary earner has income from… Read More
International Summit on Advantage Haryana ˜The Land of Opportunities™
ASSOCHAM in partnership with Government of Haryana is organizing a Summit Advantage Haryana ˜The Land of Opportunities™. Hon™ble Chief Minister Shri Bhupinder Singh Hooda will inaugurate the summit . Shri Randeep Singh Surjewala, Hon™ble Commerce & Industry Minister has also consented to grace the occasion as a special guest of honor. The summit will be… Read More
Conference on “Biosimilars”- ASSOCHAM
Biosimilars which are the generic versions of high-priced biotechnology drugs can become a potent weapon for a country like India by increasing affordability and healthcare access to the poor and needy. The expiry of patent protection for many original biotechnological medicines has led to the development of what are called biosimilars or follow-on biologics. To… Read More
BSE gets nod to launch an exclusive Exchange for SMEs
Asia's oldest bourse, the Bombay Stock Exchange (BSE), today said it has been granted an 'in-principle' approval by the capital market watchdog Sebi to launch an exchange exclusively for small and medium enterprises (SMEs). "BSE today received an 'in-principle' approval...the BSE is now gearing-up for its latest venture in an emerging market segment," a release… Read More
Telecom Operators advised not to reject MNP request if O/s less than Rs. 10
Concerned over subscribers facing problems in exercising Mobile Number Portability service, Trai has asked operators not to reject a request if the amount outstandings are less than Rs 10. Telecom regulator Trai's directive came in the wake of telecom operators rejecting the request of subscribers for porting on the ground of "contractual obligation" and "outstanding… Read More
NSE abusing its dominant position: CCI
Competition watchdog CCI today pronounced the National Stock Exchange (NSE) guilty of abusing its dominant market position by adopting unfair trade practices in connection with currency derivatives trading. However, the quantum of fine to be levied on NSE is yet to be ascertained. "The Commission has pronounced NSE guilty of violating section 4 of the… Read More
CCI imposed penalty on 27 film producers for cartel formation
The Competition Commission of India (CCI) today imposed a penalty of Rs one lakh each on 27 film producers on charges of colluding through a cartel to exploit theatre owners. The CCI imposed the fine on filmmakers after having found them guilty of entering into anti-competitive agreement. The issue pertains to the strike in 2009… Read More
Expect Tighter norms for reporting and monitoring of interest rate and forex derivatives : RBI
In order to improve transparency and avoid build up of a financial crisis, a Reserve Bank panel today suggested tighter norms for reporting and monitoring of interest rate and forex derivatives. The report of the Working Group set up by the Reserve Bank suggested that Clearing Corporation of India (CCIL) should be made the repository… Read More
RBI places report on OTC Interest Rate and Forex Derivatives
The Reserve Bank of India today placed on its website the Report of the Working Group on Reporting of over-the-counter (OTC) Interest Rate and Forex Derivatives (Chairman: Shri P Krishnamurthy). The Working Group has observed that non-transparency of the OTC market results in build-up of risks in the system which is widely believed to be… Read More
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