Houses with assets over Rs 1 thousand crore with NBFCs can
Posted Date : 02-Jan-2015 , 09:11:47 am | Posted By CASANSAAR
The Reserve Bank of India on Thursday clarified that business houses with assets above Rs 1,000 crore with finance companies will not be eligible to apply for a small bank license. The regulator also said that existing non-banking finance companies have to fold their operations into the small bank. ...
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RBI |
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Bank mergers to top agenda at PM-led 'Gyan Sangam' retreat
Posted Date : 02-Jan-2015 , 09:02:12 am | Posted By CASANSAAR
Mergers and acquisitions among public sector banks will be a major theme at the two-day 'Gyan Sangam' in Pune on 2-3 January - a retreat of chiefs of financial institutions which will be attended by Prime Minister Narendra Modi, finance minister Arun Jaitley and Reserve Bank of India Governor Raghur...
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Banking |
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Planning Commission gets a new name in 2015: NITI Ayog
Posted Date : 02-Jan-2015 , 08:54:49 am | Posted By CASANSAAR
India's Planning Commission will be renamed "NITI Ayog" as part of a restructuring plan announced by Prime Minister Narendra Modi in his Independence Day speech.
The new plan body, sources say, will have up to five full time members and four union ministers.
The permanent members are expected to b...
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Finance |
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10 Lakh New Jobs, Up To 40% Salary Hike Seen In 2015
Posted Date : 01-Jan-2015 , 02:23:58 pm | Posted By CASANSAAR
It may be a bumper new year for the job market, with India Inc planning to create close to 10 lakh new jobs and dole out pay hikes of up to 40 per cent for best performers in 2015.
The average salary increments may also be higher in the range of 15-20 per cent, as against 10-12 per cent across vari...
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General |
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0 | Hits : 1840
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SEBI notifies rules on launch of new mutual fund schemes
Posted Date : 01-Jan-2015 , 08:34:10 am | Posted By CASANSAAR
Market regulator Sebi has notified new rules that allow launch of two new schemes in a year by mutual fund houses with net worth below 50 crore rupees. However, such permission would be considered on a case-to-case basis, depending on Asset Management Companies (AMCs) demonstrating that serious effo...
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SEBI |
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Government Appoints MD & CEO of Four Nationalised Banks
Posted Date : 01-Jan-2015 , 08:27:07 am | Posted By CASANSAAR
Based on the recommendations of Appointments Board chaired by the Governor, the Reserve Bank of India (RBI), the Department of Financial Services (DFS), Ministry of Finance, Government of India announced the appointment of MD & CEO of four Nationalised Banks. The appointments announced are as fo...
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Banking |
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New Promoter classification norms recommended by SEBI
Posted Date : 31-Dec-2014 , 08:44:31 am | Posted By CASANSAAR
Market regulator Sebi on Tuesday proposed new rules to allow reclassification of promoters at listed firms looking to become public shareholders.
The new norms can have a significant impact on the way some merger and acquisition deals are structured, as also in cases involving cor...
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SEBI |
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Now, post offices can provide ATM cards, Account statements
Posted Date : 31-Dec-2014 , 08:24:50 am | Posted By CASANSAAR
Post office savings bank accounts can now be operated through ATMs. The Centre has amended the Post Office Savings Bank General Rules accordingly following the Budget announcement in this regard.
This facility, however, will be available only in post offices that are on core banking solutio...
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Banking |
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0 | Hits : 1053
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Government amends Arbitration and Conciliation Act to attract investment
Posted Date : 30-Dec-2014 , 06:18:33 pm | Posted By CASANSAAR
Amid its keenness to attract maximum foreign investment, the Government has sent out a signal to international business community by amending the Arbitration Act to make it mandatory for a judge presiding over commercial disputes to settle cases within nine months.
The amendments to the Arb...
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General |
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0 | Hits : 822
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Black Money Probe: Over 1000 entities under scanner, says SEBI
Posted Date : 30-Dec-2014 , 08:33:15 am | Posted By CASANSAAR
At least 1,000 individuals and companies have come under markets regulator Sebi's scanner for allegedly using stock markets to evade taxes and launder money through companies mostly existing on paper. Sebi is focussing on securities market related violations by these individuals and compan...
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SEBI |
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0 | Hits : 1156
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Banks will struggle more with bad loans if economy falters further, warns RBI
Posted Date : 30-Dec-2014 , 08:26:31 am | Posted By CASANSAAR
Risks to India’s banking system continue to remain at elevated levels on concerns of further deterioration in the asset quality, the Reserve Bank of India (RBI) said in its Financial Stability Report (FSR) released on Monday.
Even though the liquidity scenario in the banking system has impr...
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RBI |
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0 | Hits : 932
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Infusion of Rs. 60 crore in IFCI Ltd. to make it a Government Company
Posted Date : 29-Dec-2014 , 09:17:20 pm | Posted By CASANSAAR
The Union Cabinet chaired by the Prime Minister, Shri Narendra Modi, today approved the infusion of RS. 60 crore in Industrial Finance Corporation of India (IFCI) Ltd. to make it a Government company by way of acquisition of preference shares from existing share holder(s). Background Indus...
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Finance |
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0 | Hits : 898
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ICAI remarks on CAG Report - Appreciation of Third Party (Chartered Accountant) Reporting in Assessment proceedings
Posted Date : 29-Dec-2014 , 10:58:13 am | Posted By CASANSAAR
Attention has been drawn to certain issues raised on the certification work done by the members of the profession in the report of Comptroller and Auditor General of India (C&AG) entitled ‘Appreciation of Third Party (Chartered Accountant) Reporting in Assessment proceedings&r...
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Income Tax |
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1 | Hits : 1556
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No law perfect, new Companies Act provides for self regulation: MCA
Posted Date : 29-Dec-2014 , 08:44:48 am | Posted By CASANSAAR
Stating that no law can be considered perfect, the Corporate Affairs Ministry has said the new Companies Act provides an opportunity for self- regulation and greater transparency.
The new Act, which replaces the nearly six-decade-old legislation that governs corporates, was pass...
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Corporate Law |
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0 | Hits : 1183
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Seven regional commexes' recognition lapsed, Audit pending: FMC
Posted Date : 28-Dec-2014 , 09:13:06 pm | Posted By CASANSAAR
Of the total 16 regional commodity exchanges, recognition of seven bourses has lapsed, according to a report by sector regulator Forward Markets Commission.
Moreover, the audit of these seven commodity exchanges is still pending, the report said.
According to the report, recognition of I...
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Auditing |
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0 | Hits : 833
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Insurance Laws (Amendment) Ordinance, 2014
Posted Date : 27-Dec-2014 , 10:28:02 pm | Posted By CASANSAAR
The Union Cabinet had approved the promulgation of the Insurance Laws (Amendment) Ordinance 2014 to amend the Insurance Act, 1938, the General Insurance Business (Nationalisation) Act, 1972 and the Insurance Regulatory and Development Authority Act, 1999, in accordance with the Insurance Laws (Amend...
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General |
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0 | Hits : 945
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Key features of NSDL Form 24G RPU / FUV version 1.4 wef 26.12.2014
Posted Date : 27-Dec-2014 , 10:21:01 pm | Posted By CASANSAAR
Form 24G Return Preparation Utility (RPU) and File Validation Utility (FVU) Version 1.4 for the Form 24G Statements from FY 2005-06 onwards released (26/12/2014)
Key features of NSDL Return Preparation Utility (RPU) version 1.4
Quoting of structurally valid TAN of DDO: Quoting of...
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Income Tax |
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0 | Hits : 1158
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New Companies Law More User-Friendly : Survey
Posted Date : 26-Dec-2014 , 09:12:24 pm | Posted By CASANSAAR
More than nine months since the new companies law came into force, most executives feel that the legislation is more "user-friendly" compared to the previous one, according to a survey.
However, majority of respondents said it would be challenging for listed companies to comply with provisi...
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Corporate Law |
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0 | Hits : 1320
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FM ask to IRS - Customs & Central Excise Officer Trainees to be Both Firm and Fair in Their Dealing with the Tax Assesses
Posted Date : 26-Dec-2014 , 09:08:15 pm | Posted By CASANSAAR
The Union Finance Minister Shri Arun Jaitley asked the Indian Revenue Service (IRS-Customs &Central Excise) officer trainees to be both firm and fair in their dealing with the tax assesses. He said that they have to maintain a fine balance between what taxes are to be charged and what not to be ...
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Excise |
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CVC issues guidelines to check tax evasion by contractors
Posted Date : 26-Dec-2014 , 02:12:38 pm | Posted By CASANSAAR
Tax liability of government contractors or suppliers should be examined properly to check leakage of any revenue, the Central Vigilance Commission (CVC) has said. The probity watchdog, in a fresh set of guidelines issued to all Central government ministries or departments, has said that award o...
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Income Tax |
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0 | Hits : 1162
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Finance ministry to reserve Wednesdays for redressal of tax related grievances
Posted Date : 26-Dec-2014 , 10:41:00 am | Posted By CASANSAAR
Your local tax office head would now set aside a day just to meet you and address your woes related to the department. Apex direct and indirect taxes bodies have identified a number of measures to deepen engagement with taxpayers for better services as part of the Narendra Modi government's good gov...
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Income Tax |
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0 | Hits : 1163
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E-Book
Posted Date : 26-Dec-2014 , 08:13:22 am | Posted By CASANSAAR
“E-Book” on “Good Governance: Ministry of Finance” FOREWORD
The Government attaches utmost importance to the need for improving Governance and service delivery to the common man. One of the important tenets in this direction is the effective ...
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Finance |
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0 | Hits : 1109
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PM Nominates ICAI for Swachh Bharat Abhiyan
Posted Date : 25-Dec-2014 , 02:04:03 pm | Posted By CASANSAAR
Today Prime minister Nominated 9 Persons/Organizations to be part of Swachhta Abhiyan. It includes Institute of Chartered Accountants of India (ICAI). He said ICAI is very Big Organization at National level.
They are doing cleaning process in Accounting and should also Participate in Swach...
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Income Tax |
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2 | Hits : 2030
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No RTI on restructuring of corporate debt: CDR cell of RBI
Posted Date : 25-Dec-2014 , 10:17:50 am | Posted By CASANSAAR
Corporate Debt Restructuring cell of Reserve Bank of India, which has eased loan repayment worth Rs 3.7 lakh crore for top-end businessmen of the country, has refused to reply to an RTI query about its operations saying transparency law does not apply on it. Former Information Commissi...
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Banking |
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0 | Hits : 1195
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HC questions RBI on cap on withdrawals through ATM
Posted Date : 24-Dec-2014 , 10:42:42 pm | Posted By CASANSAAR
The Delhi High Court on Wednesday questioned Reserve Bank of India's decision to put a cap on withdrawals by banking customers using their ATM cards, saying account holders were being "unneccesarily taxed".
As per RBI's new guidelines, bank customers in six metros -- Delhi, Mumbai, Chennai, Kolkata...
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RBI |
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0 | Hits : 1105
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Cabinet okays insurance FDI hike, coal block auction ordinances
Posted Date : 24-Dec-2014 , 04:30:20 pm | Posted By CASANSAAR
The union cabinet Wednesday approved two key ordinances: one to hike foreign equity cap in the insurance sector, and the other to hold auctions for cancelled coal blocks.
The government took the ordinance report as the two legislations could not be passed in the just-concluded sessio...
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General |
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0 | Hits : 719
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Bharat Ratna for former PM Atal Bihari Vajpayee, freedom fighter Madan Mohan Malviya
Posted Date : 24-Dec-2014 , 04:20:02 pm | Posted By CASANSAAR
Former prime minister and BJP veteran Atal Bihari Vajpayee and freedom fighter Madan Mohan Malaviya will be honoured with the country's highest civilian award the “Bharat Ratna”, the government announced on Wednesday.
A statement from President Pranab Mukhe...
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General |
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0 | Hits : 838
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Candidates declared elected for ICSI Election to the Council from Northern India Regional Constituency
Posted Date : 24-Dec-2014 , 08:37:55 am | Posted By CASANSAAR
List of Candidates declared elected for ICSI Election to the Council from Northern India Regional Constituency.
1. Pandey Ranjeet Kumar
2. Chaudhary Vineet K.
3. Agrawal Shyam
4. Singh Satwinder
5. Bajaj Rajiv....
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ICSI |
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1 | Hits : 1500
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SEBI leads multi-agency probe into black money scam by listed companies
Posted Date : 24-Dec-2014 , 08:31:40 am | Posted By CASANSAAR
The Securities and Exchange Board of India (Sebi), the income-tax department and the special investigative team (SIT) on black money are learnt to be spearheading a multi-agency probe into an alleged flow of unaccounted money through 100 listed companies.
According to sources, Sebi&n...
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SEBI |
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0 | Hits : 1184
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I-T department to unveil online tax decision reference system to facilitate tax-related litigation
Posted Date : 24-Dec-2014 , 08:22:25 am | Posted By CASANSAAR
The income tax department is creating a central repository of judicial decisions to facilitate tax-related litigation and online searches. "The National Judicial Reference System (NJRS) is expected to become operational by March next year," Gagan Rai, MD and CEO at NSDL e-Governance Infrastructure, ...
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Income Tax |
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