10-year-olds can open and operate bank a/c alone: RBI
Posted Date : 07-May-2014 , 08:19:20 am | Posted By CASANSAAR
Children older than 10 years will no longer need the help of their parents or guardians to open and operate a savings bank account. To boost financial inclusion, the Reserve Bank of India (RBI) on Tuesday said that banks were at liberty to allow minors above 10 years to independently open and operat...
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RBI |
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Sebi steps in after auditor flags related-party dealings at MCX
Posted Date : 07-May-2014 , 08:14:45 am | Posted By CASANSAAR
India’s capital market regulator has started a probe into Multi Commodity Exchange of India Ltd (MCX) after auditor PricewaterhouseCoopers (PwC) highlighted related-party transactions and possible conflicts of interest between MCX and its parent Financial Techn...
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SEBI |
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Notification - ISA - AT scheduled on 28.06.2014
Posted Date : 06-May-2014 , 04:24:57 pm | Posted By CASANSAAR
No.13-CA(EXAM)/ISA/J/2014: - In pursuance of Regulation 204 of the Chartered AccountantsRegulations, 1988, the Council of the Institute of Chartered Accountants of India is pleased tonotify that the Information Systems Audit (ISA) Course Assessment Test (which is open to themembers of the Institute)...
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Students Zone |
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NPAs render govt banks unfit for pvt PF deposits
Posted Date : 06-May-2014 , 08:13:23 am | Posted By CASANSAAR
Rising non-performing assets (NPAs) are taking a toll on public sector banks such as State of India (SBI), Punjab National Bank (PNB) and Canara Bank in more ways than one — these banks are unable to take deposits from non-government provident funds.
Norms governing investments...
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RBI |
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0 | Hits : 1091
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SEBI proposes new listing, disclosure requirement norms
Posted Date : 06-May-2014 , 08:05:06 am | Posted By CASANSAAR
The Securities and Exchange Board of India (SEBI), on Monday, proposed a new set of rules, which would require greater disclosures by companies and give more powers to stock exchanges to check any non-compliance.
The proposed norms, to be called SEBI (Listing Obligations and Disclosure Requ...
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SEBI |
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Hosting of exemption(s) in a paper granted in Intermediate and Final examinations, valid for May 2014 - ICAI
Posted Date : 05-May-2014 , 06:04:27 pm | Posted By CASANSAAR
3rd May 2014
Re: Hosting of exemption(s) in a paper granted in Intermediate and Final examinations, valid for May 2014.
Exemption(s) in a paper(s) are granted to candidates of Intermediate and Final examinations, in terms of Regulation 37C(8) and Regulation 38C(6), respectively...
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Students Zone |
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Deloitte may not challenge PwC
Posted Date : 05-May-2014 , 07:15:29 am | Posted By CASANSAAR
Deloitte, the statutory auditor for MCX, said it's not perturbed by critical observations about the exchange in a forensic audit by PwC because the two auditing exercises are by definition fundamentally different. "Clearly, what PwC did was as a forensic auditor. They are doing their job and we...
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Auditing |
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0 | Hits : 1071
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CBI moves to close graft cases against tax tribunal members
Posted Date : 05-May-2014 , 07:11:49 am | Posted By CASANSAAR
The CBI has filed closure reports in nearly a dozen cases involving around two dozen judges of various benches of the Income Tax Appellate Tribunal (ITAT) who were under probe following corruption cases registered against them between 2011-2012. The agency has concluded that there is “insuffic...
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Income Tax |
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0 | Hits : 1089
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Files Downloading Problem from casansaar.com has been solved
Posted Date : 04-May-2014 , 07:42:23 pm | Posted By CASANSAAR
Members were facing some problems while downloading the files from www.casansaar.com. Some Network Error Failiure was there. There were some error and now such problem has been solved. Now download the files easily & frequently. Sorry for Inconvenience......
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General |
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Banks find it easier to offload NPAs after RBI tweaks norm: Report
Posted Date : 04-May-2014 , 10:33:46 am | Posted By CASANSAAR
A sudden rush to sell distressed assets to asset reconstruction companies (ARCs) in Q4 could be attributed to the RBI allowing banks to write back the excess provisions made over the book value when the NPL is sold, says an HSBC report.
Earlier, if the sale was for a value higher than the n...
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Banking |
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CA IPCC / FINAL May 2014 Admit Card Download Online
Posted Date : 03-May-2014 , 10:43:00 am | Posted By CASANSAAR
Admit Card May 2014 Exams
Admit Cards for May 2014 CA IPCC and CA Final Exams are released by ICAI on 2nd May 2014
Download your Admit Card below:
IMP: In such cases where your photograph is not on the admit card, you should carry a photo identity card issued by the Govt. or...
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Students Zone |
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0 | Hits : 1881
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RBI switches 30 banks to risk-based supervision
Posted Date : 03-May-2014 , 10:23:30 am | Posted By CASANSAAR
The Reserve Bank of India, scrapping its age-old practice of CAMELS inspection, has switched 30 banks to risk-based supervision, indicating what could be the beginning of the regulator's micro management of banks. The CAMELS (capital adequacy, asset quality, management, earnings, liquidity, and...
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Banking |
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0 | Hits : 1425
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FTIL defers stake sale as bidders want full PwC report
Posted Date : 03-May-2014 , 10:20:36 am | Posted By CASANSAAR
Financial Technologies India Ltd (FTIL) has decided to postpone its decision for divesting 24 per cent stake in the Multi Commodity Exchange (MCX) to May 10, as bidders did not submit binding bids.
FTIL said in a statement issued after the board meeting here on Friday that with MCX releasing execut...
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Shares & Stock |
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0 | Hits : 861
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High-level panel suggests setting up of FRA
Posted Date : 03-May-2014 , 10:19:23 am | Posted By CASANSAAR
The high-level working group set up to suggest strengthening of the resolution regime, on Friday, recommended setting up of a single Financial Resolution Authority (FRA) that is institutionally independent of regulators and the Government.
“The mandate of FRA will be to resolve failed...
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Banking |
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0 | Hits : 904
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Sebi can now seek call data records, says Bombay high court
Posted Date : 02-May-2014 , 09:58:09 am | Posted By CASANSAAR
The Bombay high court recently allowed the Securities and Exchange Board of India (Sebi) to ask for call data records (CDR) of any person it feels necessary.
The stock market regulator has for the past several years sought sensitive data of subscribers from telecom and Internet service prov...
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SEBI |
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Zone Shifting of Candidates for May / June 2014 CA Exams - ICAI
Posted Date : 01-May-2014 , 07:25:09 pm | Posted By CASANSAAR
IMPORTANT ANNOUNCEMENT
May 1st, 2014
Subject: Zone-shifting of candidates for May / June - 2014 CA Exams
Due to paucity of accommodation in certain Zones opted by the candidates in the cities of Chennai, Delhi, Hyderabad, Indore and Mumbai, some of the candidates have bee...
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ICAI |
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Correction Window-CPT (Examination) June 2014 - ICAI
Posted Date : 01-May-2014 , 07:23:12 pm | Posted By CASANSAAR
It is seen that candidates while filling the exam application forms ( either online or physical) donot exercise reasonable care and commit errors. This creates lots of difficulties for them as wellas the office at Admit Card stage and thereafter.
With a view to provide them an additional op...
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Students Zone |
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0 | Hits : 1003
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MCX managing director & CEO Manoj Vaish quits on health grounds
Posted Date : 01-May-2014 , 07:20:15 pm | Posted By CASANSAAR
Manoj Vaish has resigned as Managing Director and Chief Executive Officer of the country’s leading commodity exchange MCX exactly three months after joining the bourse, citing health reasons.
The resignation comes amid a tussle between Multi Commodity Exchange of India and erstwhile p...
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Shares & Stock |
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0 | Hits : 768
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Rotating Auditor rule to impact Companies
Posted Date : 01-May-2014 , 08:17:16 am | Posted By CASANSAAR
Come April 2017, there is likely to be chaos in corporate India. Not because of bad economic conditions or some policy paralysis of the next government, but because of the newly introduced Companies Act. According to the Section 139 of the Companies Act, all companies (with public deposits of a...
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Auditing |
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A class V girl offered to help RBI Governor Raghuram Rajan
Posted Date : 01-May-2014 , 08:15:37 am | Posted By CASANSAAR
One doesn't expect a fifth grade student to be worried about the state of the economy and the country's foreign exchange reserves, much less pen a letter to the Reserve Bank of India governor offering help.But last September, when the government and RBI were battling a major crisis with the rupee hi...
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RBI |
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0 | Hits : 2841
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Sebi sets foreign portfolio investor limit of 10% per firm
Posted Date : 30-Apr-2014 , 07:31:47 pm | Posted By CASANSAAR
A foreign portfolio investor will be allowed to buy additional shares in a company only if its holding is less than 10%, according to norms for the new overseas investment regime that starts in June.
Market regulator Sebi has said one FPI can hold a maximum of 10% of a company's...
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SEBI |
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Return Preparation Utility (RPU) V 3.9 and File Validation Utility (FVU) V 4.2 & 2.138 released
Posted Date : 30-Apr-2014 , 07:26:10 pm | Posted By CASANSAAR
New versions of the Return PreparationUtility (RPU) version 3.9 and File Validation Utility (FVU) version 4.2 and 2.138 have been released by NSDL. The above versions are now mandatory to be used with effect from April 26, 2014, for TDS statements pertain...
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Income Tax |
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0 | Hits : 1817
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Bank of America's accounting blunder overlooked by auditors and regulators
Posted Date : 30-Apr-2014 , 06:58:15 am | Posted By CASANSAAR
Bank of America's accountants shouldn't be the only ones blushing about their recent blunder. External auditors and federal regulators for five years overlooked the mistake, too.
Charlotte-based BofA on Monday disclosed its regulatory capital ratios since 2009 had been ...
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International Business |
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PwC report on MCX: FTIL threatens legal action against Auditor
Posted Date : 29-Apr-2014 , 10:06:53 pm | Posted By CASANSAAR
Financial Technologies, which has 26 per cent stake in MCX, today rejected the PwC special audit report on the corporate governance issue at the commodity exchange and said it will take legal action against the bourse and PwC for painting a wrong picture in the report. Financial Technologies In...
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Auditing |
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0 | Hits : 1190
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Allow
Posted Date : 29-Apr-2014 , 07:26:14 am | Posted By CASANSAAR
The CA Institute has urged the Corporate Affairs Ministry to allow the concept of “materiality” to the fraud reporting requirement now cast on statutory auditors.
The current legal provisions requiring a statutory auditor to report all frauds (without bringing in materiality) to...
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Corporate Law |
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1 | Hits : 2908
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RBI directs RTGS participants to use correct transaction code
Posted Date : 29-Apr-2014 , 07:23:07 am | Posted By CASANSAAR
The Reserve Bank on Monday directed the entities using the Real-Time Gross Settlement (RTGS) payment system to use the correct transaction code so as to avoid unintended consequences.
RBI said some of the RTGS participants were using the transaction code alloted to customers for settling their own ...
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RBI |
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0 | Hits : 1038
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Govt may ease IPO norms, tax code
Posted Date : 29-Apr-2014 , 07:22:12 am | Posted By CASANSAAR
India's finance ministry will propose regulatory and tax-code changes to help the next government spur foreign currency inflows and corporate fundraising when it takes power after elections end next month, said people familiar with the matter.
If approved by the next a...
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Shares & Stock |
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0 | Hits : 889
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ICAI raises concerns on fraud reporting in Companies Act
Posted Date : 28-Apr-2014 , 08:18:07 am | Posted By CASANSAAR
The accounting regulator Institute of Chartered Accountants of India (ICAI) has raised concerns over the demand of reporting every fraud to the Central government by auditors within 60 days under the new Companies Act.
The ICAI has also urged the ministry of corporate affairs to relax the cap on nu...
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ICAI |
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Finance ministry wants public banks to report wilful defaults straight to Sebi
Posted Date : 28-Apr-2014 , 08:11:43 am | Posted By CASANSAAR
The finance ministry wants public sector banks (PSB) to send information on listed firms declared as wilful defaulters directly to Sebi instead of routing the same through the RBI, which is the present norm. Necessary changes in the relevant laws are being initiated.
The idea, official sour...
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Finance |
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0 | Hits : 879
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Nearly 1 lakh new companies registered in India during 2013-14
Posted Date : 28-Apr-2014 , 08:09:12 am | Posted By CASANSAAR
Nearly one lakh new companies were registered in India last fiscal year (FY14), with a substantial chunk set up in the business services sector. On the other hand, just 216 foreign companies were set up during the year.
98,473 companies together having an authorised capital of nearly Rs....
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Corporate Law |
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