Banks' slippage-recovery-upgrade ratio at all-time high: RBI
Posted Date : 17-Nov-2013 , 09:46:56 pm | Posted By CASANSAAR
The banking system's slippage to recovery and upgradation ratio has shot up to 257 as of March 2013 from 217 in March 2011 as banks have failed to implement efficient and speedy measures for recovering stressed assets, according to the Reserve Bank.
This increase in the slippages ratio was a tad ab...
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Banking |
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Axis Bank to be 'foreign-owned' after hike in overseas investments
Posted Date : 17-Nov-2013 , 09:43:40 pm | Posted By CASANSAAR
Axis Bank will become a "foreign- owned" lender, to be governed by FDI policy, following the go- ahead to its proposed increase in foreign investment holding to 62 per cent, entailing inflow of over Rs. 6,200 crore.
The proposal, recently cleared by the Foreign Investment Promotion Board,...
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Banking |
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Sebi plans curbs on promoter trades in insider trading revamp
Posted Date : 17-Nov-2013 , 06:18:28 pm | Posted By CASANSAAR
Promoters and top executives, intending to buy or sell shares of their companies, may soon have to inform the market well in advance before such transactions. Securities and Exchange Board of India (Sebi), which is in the process of an overhaul of its insider trading rules, is considerin...
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SEBI |
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EPFO may pay 8.5% interest on PF deposits this fiscal
Posted Date : 17-Nov-2013 , 06:08:27 pm | Posted By CASANSAAR
Retirement fund body EPFO will pay at least 8.5 percent rate of return on PF deposits for 2013-14 to its over 5 crore subscribers as provided in the previous fiscal and the decision in this regard could be taken as early as next month.
"The Employees' Provident Fund Organisation (EPFO) will...
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General |
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Govt announces Bharat Ratna for Sachin Tendulkar
Posted Date : 16-Nov-2013 , 04:51:56 pm | Posted By CASANSAAR
The Government of India on Saturday decided to award the Bharat Ratna to Sachin Tendulkar, who incidentally retired the same day in the morning after playing his 200th Test in Mumbai.
Tendulkar and eminent scientist Professor CNR Rao were the two names announced by the government for the hi...
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General |
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NSEL contract case: FMC shortlists Haribhakti & Co and Chokshi & Chokshi Chartered Accountants for e-series Audit
Posted Date : 16-Nov-2013 , 09:18:23 am | Posted By CASANSAAR
Commodity market regulator Forward Markets Commission (FMC) has shortlisted two Mumbai-based chartered accountancy firms — Haribhakti & Co and Chokshi & Chokshi Chartered Accountants — to conduct a forensic audit of gold and silver backing the socalled e-series bullion contracts ...
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Auditing |
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CBI arrests income tax officials for demanding bribe from complainant
Posted Date : 16-Nov-2013 , 09:13:36 am | Posted By CASANSAAR
Central Bureau of Investigation, anti-corruption branch, Mumbai registered a case against Satyanarayan Vanam, office superintendent of income tax, 21(2), Pratyaksha Kar Bhavan, Bandra Kurla Complex, Mumbai and Mehboob Shaikh, tax consultant for demanding bribe of Rs 50,000 from a complaina...
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Income Tax |
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New banking licences should not go to ‘clones’: FM
Posted Date : 16-Nov-2013 , 09:12:44 am | Posted By CASANSAAR
Union Finance Minister P. Chidambaram, on Friday, suggested that the Reserve Bank of India (RBI) should not issue new banking licences to entities that clone the existing banks.
“Most banks are clones to each other. I am inclined to think that there is more cloning than differentiatio...
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Banking |
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Sebi to come out with detailed corporate disclosure norms
Posted Date : 15-Nov-2013 , 05:16:15 pm | Posted By CASANSAAR
Market regulator Sebi is likely to come out with detailed guidelines on corporate disclosures on Monday, aiming to improve the quality of giving out information by companies.
"Today, there are 1,100 companies which are not compliant with the requirement of clause 35 of shareholding pat...
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SEBI |
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Exposure Draft on Investment Entities (Amendments to Ind AS 110, Ind AS 112 and Ind AS 27)
Posted Date : 15-Nov-2013 , 08:33:35 am | Posted By CASANSAAR
The ICAI has issued this exposure draft on Investment Entities which includes amendments to Ind AS 110 Consolidated Financial Statements, Ind AS 112 Disclosure of Interests in Other Entities and Ind AS 27 Separate Financial Statements. The exposure draft is open for public commen...
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ICAI |
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NSEL crisis: Spot exchange acting as NBFC without RBI nod, warned auditor in 2011
Posted Date : 14-Nov-2013 , 09:15:53 pm | Posted By CASANSAAR
The management and the board of the National Spot Exchange (NSEL) ignored an internal audit report prepared way back in 2011, which noted that the spot exchange was acting as a non-banking finance company (NBFC) without formal approval from the Reserve Bank of India (RBI).
The audit report ...
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Auditing |
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Sebi proposes new norms for search and seizure powers
Posted Date : 14-Nov-2013 , 09:09:37 pm | Posted By CASANSAAR
Securities and Exchange Board of India (Sebi) has laid down the framework for 'search and seizure' operations to conduct investigations more effectively.
Before officially notification, the stock market regulator today today issued draft 'Procedure for Search and Seizure Regulations 2013' and ...
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SEBI |
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Bank NPAs: Net bad loans of 40 banks soar 38 pct to Rs 1.3 trillion in H1
Posted Date : 14-Nov-2013 , 07:44:52 pm | Posted By CASANSAAR
The net bad assets of the 40 listed banks have jumped 38 per cent to Rs 1,28,533 crore during the first half of this fiscal, from Rs 93,109 crore at the end of the last fiscal, and is likely to cross Rs 1.5 lakh crore by the end of the fiscal, says a study.
Out of the total 40 lis...
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Banking |
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Direct Tax Code to raise income tax exemption limit to Rs.3 lakh, introduces 'Super Rich' categ
Posted Date : 14-Nov-2013 , 08:25:24 am | Posted By CASANSAAR
In a time when high inflation is blowing holes in pockets of consumers, if a relaxation is granted on tax deduction, consumers will definitely get a reason to celebrate. Well, Ministry of Law and Justice has approved the proposal to raise annual income tax exemption limit from 2 lakh to 3 la...
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Income Tax |
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MCA conducted 282 investor awareness programmes in October
Posted Date : 14-Nov-2013 , 08:20:25 am | Posted By CASANSAAR
During the Current Financial Year, a total of 801 Investor Awareness Programmes have been organized by the Ministry of Corporate Affairs in various parts of the country (till the end of October) through its 3 Professional Institutes: Institute of Chartered Accountants of India (ICAI), Institute of C...
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Corporate Law |
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Change in the date of Holiday by ICAI on the occasion of Muharram - 15th November, 2013
Posted Date : 13-Nov-2013 , 04:58:03 pm | Posted By CASANSAAR
No. ICAI / HRD(P)/35/2013
...
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ICAI |
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Change of Examination Centre in Bareilly (U.P.) on 21st November, 2013 - ICAI
Posted Date : 13-Nov-2013 , 04:54:07 pm | Posted By CASANSAAR
No. 13-CA (EXAM)/N/2013/ Ann. /6November 11, 2013
Chartered Accountants Examination - 21st November, 2013Subject: Change of Examination Centre in Bareilly (U.P.) on 21.11.2013
Due to unavoidable circumstances, the Final examination scheduled to be held on 21st November 2013 at F....
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Students Zone |
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NSEL crisis: Jignesh Shah questions Grant Thornton’s forensic audit report
Posted Date : 13-Nov-2013 , 11:58:34 am | Posted By CASANSAAR
Financial Technologies India Ltd (FTIL) founder & Group CEO Jignesh Shah has questioned Grant Thornton’s forensic audit report on the Rs 5,600-crore settlement crisis at the FTIL-owned National Spot Exchange (NSEL).
Shah and FTIL are defending their 'fit & proper’ s...
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Auditing |
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Supreme Court makes it mandatory for police to register FIRs
Posted Date : 12-Nov-2013 , 08:13:03 pm | Posted By CASANSAAR
The Supreme Court on Tuesday said that it is mandatory for the police to register a First Information Report or FIR when a complaint is filed at a police station. So far, it was upto the police to decide whether to formally accept a complaint, though the Criminal Civil Procedure code says police mus...
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General |
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No Change in the date of examination scheduled for 15th November 2013 - ICAI
Posted Date : 12-Nov-2013 , 07:21:20 pm | Posted By CASANSAAR
The Institute of Chartered Accountants of India
No.13-CA(Exam)Nov-2013
November 12, 2013
ANNOUNCEMENTNo Change in the date of examination scheduled for 15th November, 2013
Certain enquiries are being received as regard to the holding of examination on 15th November, 2013 ...
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Students Zone |
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Question Papers of CA Final & IPCC Nov.2013 Exams
Posted Date : 12-Nov-2013 , 02:24:16 pm | Posted By CASANSAAR
Final Examination
GROUP I
PAPER - 1 : FINANCIAL REPORTING
PAPER - 2 : STRATEGIC FINANCIAL MANAGEMENT
PAPER – 3 : ADVANCED AUDITING AND PROFESSIONAL ETHICS
PAPER – 4 : CORPORATE AND ALLIED LAWS
I...
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Students Zone |
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My Lord/Your Lordships sign of slavery, should be banned: Supreme Court
Posted Date : 12-Nov-2013 , 08:46:40 am | Posted By CASANSAAR
Addressing judges as My Lordor Your Lordships in courts is a relic of colonial era and a sign of slavery, a petition filed in Supreme Court said today and sought a ban on their use in the country. A PIL was filed today by a 75-year-old lawyer seeking the apex court's di...
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General |
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RBI waives 'No Objection Certificate' criteria for investment from NRI into finance firm
Posted Date : 12-Nov-2013 , 08:40:20 am | Posted By CASANSAAR
The Reserve Bank today waived the requirement of No Objection Certificate(NoC) with regard to share transfer from residents to non-residents where the investee company is in the financial servicesdomain. On a review, it has now been decided that the requirement of NoC(s) will be waive...
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Banking |
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Election Commission asks candidates to open separate bank accounts
Posted Date : 12-Nov-2013 , 08:39:22 am | Posted By CASANSAAR
Election Commission has issued instructions asking candidates to open a separate bank account exclusively for the purpose of election expenditure. The account should be opened not later than one day before the date on which the candidate files his nomination papers, a spokesman of Har...
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General |
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RBI allows FIIs to invest upto $5 bn in credit enhanced bonds
Posted Date : 12-Nov-2013 , 08:17:15 am | Posted By CASANSAAR
In a bid to attract capital inflows, the RBI today allowed SEBI-registered foreign institutional investors (FIIs) and qualified foreign investors (QFIs) to invest in the credit enhanced bonds up to a limit of $ 5 billion. These investments would be within the overall limit o...
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RBI |
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RBI cautions public against fake e-mails promising gains
Posted Date : 11-Nov-2013 , 09:26:59 am | Posted By CASANSAAR
RBI has cautioned the public against fictitious e-mails sent in the names of the central bank and Governor Raghuram Rajan promising windfall gains, saying it does not send out such communications.
The bank has run awareness campaigns about fake e-mails on a regular basis through its website and oth...
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RBI |
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New bank licences: Sebi scans listed applicants, group firms
Posted Date : 11-Nov-2013 , 09:23:04 am | Posted By CASANSAAR
As RBI gears up to issue new bank licences, capital markets regulatorSebi has also a job at hand that is of scrutinising all applicants coming under its jurisdiction directly or through group entities.Sebi's scrutiny follows detailed queries shot off by RBI to various regulators in India and ab...
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Banking |
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Passenger fees paid by Jet not liable to TDS, rules tribunal
Posted Date : 11-Nov-2013 , 09:19:13 am | Posted By CASANSAAR
The Mumbai Income-Tax Appellate Tribunal (ITAT) has held that Passenger Service Fees (PSF) paid by Jet Airways (India) to the Airport Authority of India (AAI) is not liable to TDS. The tribunal also dismissed the revenue department's appeal claiming a TDS liability of R34.40 crore and another penal ...
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Income Tax |
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Stern action will be taken against service tax offenders: FM P Chidambaram
Posted Date : 10-Nov-2013 , 10:30:18 am | Posted By CASANSAAR
Sending a stern message to tax offenders, Union Finance Minister P Chidambaram today said government was having enough information on economic wrongdoers and warned them of tough action, including arrest."Government has to send a message, a stern message, that such violation...
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Income Tax |
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Company Secretaries may soon be called Governance Professionals & ICSI will be IGPI
Posted Date : 09-Nov-2013 , 06:32:56 am | Posted By CASANSAAR
The Institute of Company Secretaries of India may get re-christened as Institute of Governance Professionals of India (IGPI).
Any such move would be in line with the institute’s recent aspiration to elevate its members from being compliance officers to governance professionals.
...
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ICSI |
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