RBI prefers zero-balance accounts
Posted Date : 19-Apr-2012 , 07:26:29 am | Posted By CASANSAAR
You can open a zero-balance savings bank account anywhere in the country now, as the Reserve Bank of India (RBI) has mandated banks to offer a ‘basic savings bank deposit account’ with some minimum common facilities and not prescribe a minimum balance.Simply put, the basic banking curren...
Continue Reading...
Category :
Banking |
Comments :
0 | Hits : 2055
|
 |
States want all-party meeting on GST The Bill will need support of the two-third majority and also has to be ratified by 50% of the state assemblies
Posted Date : 18-Apr-2012 , 10:12:29 pm | Posted By CASANSAAR
States have asked the Centre to call all-party meeting to build consensus on the passage of the Constitution Amendment Bill for rollout of Goods and Services Tax (GST) which is pending in Parliament.
"Yesterday, I suggested to Union Finance Minister [Pranab Mukherjee] to call all pa...
Continue Reading...
Category :
GST |
Comments :
0 | Hits : 920
|
|
Probability of hiking policy rates not ruled out: RBI
Posted Date : 18-Apr-2012 , 04:39:35 pm | Posted By CASANSAAR
The Reserve Bank of India's governor, Duvvuri Subbarao, said on Wednesday the probability of raising interest rates is small but did not rule it out due to upside risks to inflation.
"I want to reiterate once again that the probability of hiking rates is not zero but it is small, just a...
Continue Reading...
Category :
Banking |
Comments :
0 | Hits : 807
|
|
RBI asks banks to set up process to identify NPAs
Posted Date : 18-Apr-2012 , 02:12:15 pm | Posted By CASANSAAR
The Reserve Bank of India has asked banks to install a robust mechanism to identify stressed accounts and promptly restructure viable cases to preserve the economic value. The central bank has also mandated banks to have a proper system-generated segment-wise data on their NPA account...
Continue Reading...
Category :
Banking |
Comments :
0 | Hits : 1045
|
|
States talk 2013 date for GST rollout as centre agrees to review CST payments
Posted Date : 18-Apr-2012 , 11:26:14 am | Posted By CASANSAAR
Offering a fig leaf to the agitating states, the Centre has offered to review the compensation formula for the central sales tax, brightening prospects for the key indirect tax reform--goods and service tax. "We discussed the entire GST in detail, including the CST compensation......
Continue Reading...
Category :
GST |
Comments :
0 | Hits : 994
|
|
CBDT pegs tax refunds at Rs 1.25 lakh crore
Posted Date : 18-Apr-2012 , 08:57:36 am | Posted By CASANSAAR
The finance ministry issued tax refunds of Rs 98,000 crore (Rs 980 billion) in 2011-12, as against Rs 74,000 crore (Rs 740 billion) in the previous year, as about half the country's taxpayers filed their returns online. Higher online filing of returns that is expected in the ongoing financial y...
Continue Reading...
Category :
Income Tax |
Comments :
0 | Hits : 853
|
|
Vodafone issues notice to Indian govt over tax proposal
Posted Date : 17-Apr-2012 , 10:42:12 pm | Posted By CASANSAAR
Vodafone has served on the Government of India a notice of dispute under the India-Netherlands investment treaty, in the latest escalation of the controversy over proposals in the Finance Bill, 2012.
The move enables Vodafone commence international arbitration proceedings should the yet-to-be-ena...
Continue Reading...
Category :
International Business |
Comments :
0 | Hits : 994
|
|
No more pre-payment charges on home loans
Posted Date : 17-Apr-2012 , 10:37:23 pm | Posted By CASANSAAR
Providing relief to home loan borrowers, the Reserve Bank on Tuesday asked banks not to levy any penalty on pre-payment of loans taken on floating rate."Though many banks have, in the recent past, voluntarily abolished the pre-payment penalties on their floating rate home loans, there is a need for ...
Continue Reading...
Category :
Banking |
Comments :
0 | Hits : 917
|
|
Interests of Investers Needs Protection-Dr. M.Veerappa Moily
Posted Date : 17-Apr-2012 , 10:35:20 pm | Posted By CASANSAAR
Union Corporate affairs Minister Dr. M. Veerappa Moily today held a meeting here in New Delhi with the representatives of leading trade & business chambers, professional institutes under the Ministry of Corporate Affairs, SEBI and RBI to workout the modalities of implementation of conclusions em...
Continue Reading...
Category :
Corporate Law |
Comments :
0 | Hits : 857
|
|
Invitation to become Checker for Chartered Accountants Examinations
Posted Date : 17-Apr-2012 , 03:45:06 pm | Posted By CASANSAAR
Examination Department of the Institute would like to avail the services of the members of the Institute (upto 15 years of Experience) to act as Checker, other details are as under:
The Examination Department of the Institute avails the services of resource persons (members of&...
Continue Reading...
Category :
ICAI |
Comments :
0 | Hits : 1436
|
|
RBI cuts repo rate by 50 bps, keeps CRR unchanged
Posted Date : 17-Apr-2012 , 11:40:48 am | Posted By CASANSAAR
India's central bank cut interest rates on Tuesday for the first time in three years by an unexpectedly sharp 50 basis points to give a boost to flagging economic growth but warned that there is limited scope for further rate cuts. The Reserve Bank of India cut its policy repo rate to 8.00 percen...
Continue Reading...
Category :
RBI |
Comments :
0 | Hits : 1012
|
|
MCD polls: BJP ahead in all three municipal corporations of Delhi
Posted Date : 17-Apr-2012 , 11:28:22 am | Posted By CASANSAAR
BJP was today ahead in all the three municipal corporations of Delhi as counting of votes progressed for the polls held two days ago. The counting for 272 wards is taking place in 33 centres across the city. Polling for all the 272 wards spread in three civic bodies -- East, South and North ...
Continue Reading...
Category :
General |
Comments :
0 | Hits : 821
|
|
Income Tax department issues notice to Bharti-Airtel on overseas roaming operations
Posted Date : 17-Apr-2012 , 08:24:30 am | Posted By CASANSAAR
The Income Tax department has issued fresh notices to telecom giant Bharti Airtel in connection with taxation of overseas roaming charges for additional two financial years. The department has issued the notices for financial years 2001-02 and 2006-07 to the company after recently issuing a Rs 1...
Continue Reading...
Category :
Income Tax |
Comments :
0 | Hits : 865
|
|
World Bank selects Jim Yong Kim as its next President
Posted Date : 17-Apr-2012 , 08:22:35 am | Posted By CASANSAAR
US nominee Jim Yong Kim was Monday chosen as the next president of the World Bank, an appointment that continues the longstanding tradition of an American leading the Washington-based institution."Dr Jim Young Kim of the United States would be the next President of the World Bank," an official annou...
Continue Reading...
Category :
International Business |
Comments :
0 | Hits : 779
|
|
Petrol pumps strike on April 23
Posted Date : 17-Apr-2012 , 08:20:59 am | Posted By CASANSAAR
Over 40,000 petrol pumps across the country will shut their outlets on next Monday to press their demand for raising their commission on petrol by about 27 paise per litre and diesel by 14 paise per litre as recommended by an official panel.
The association wants the government to implement th...
Continue Reading...
Category :
General |
Comments :
0 | Hits : 923
|
|
ICAI moves SEBI for changes in company compliance norms
Posted Date : 16-Apr-2012 , 03:50:11 pm | Posted By CASANSAAR
The Institute of Chartered Accountants of India (ICAI) has approached the capital market regulator - the Securities Exchange Board of India (SEBI) for a four-pronged change in company compliance norms. Last week, the accounting regulator met the SEBI chairman U K Sinha to apprise him on those issu...
Continue Reading...
Category :
ICAI |
Comments :
0 | Hits : 1009
|
|
RBI may likely cut rates by 25 bps on growth concerns
Posted Date : 14-Apr-2012 , 08:50:36 pm | Posted By CASANSAAR
The RBI may cut the repo rate by 25 basis points as economic recovery continues to remain fragile, say economists.
With factory output growth, as measured by the index of industrial production (IIP), in the April 2011-February 2012 period slowing to 3.5 per cent, against 8.1 per cent in the year-...
Continue Reading...
Category :
RBI |
Comments :
0 | Hits : 887
|
|
Enforcement Directorate calls Vodafone for 2001-07 spectrum details
Posted Date : 14-Apr-2012 , 08:47:02 pm | Posted By CASANSAAR
The Enforcement Directorate has summoned Vodafone India managing director Marten Pieters and sought a lengthy list of documents from the company as part of its probe into the alleged irregularities and losses in the allocation of airwaves when BJP-led National Democratic Alliance was in power.It...
Continue Reading...
Category :
General |
Comments :
0 | Hits : 724
|
|
Infosys holds back pay hikes, for now
Posted Date : 14-Apr-2012 , 02:25:59 pm | Posted By CASANSAAR
Infosys, the IT bellwether, delivered a shocker on Friday when it announced to its shareholders that there would not be any increment for the time being for its 149,000 employees.Infosys failed to meet its own growth guidance for the just concluded quarter and has given a lower-than-expec...
Continue Reading...
Category :
General |
Comments :
0 | Hits : 980
|
|
Window dressing: Banks raise Rs 2 lakh crore in 6 days
Posted Date : 14-Apr-2012 , 12:09:10 pm | Posted By CASANSAAR
Commercial banks in the country raised a record Rs 2 lakh crore as deposits in the last six days of March, managing to achieve an annual growth of 17.4% and reaching the Reserve Bank's comfort zone. This is reckoned to be the largest window-dressing effort to shore up the deposit ...
Continue Reading...
Category :
Banking |
Comments :
1 | Hits : 1210
|
|
PM expects new companies Bill to be passed soon
Posted Date : 14-Apr-2012 , 08:14:42 am | Posted By CASANSAAR
Prime Minister Manmohan Singh on Friday said a new Companies Bill, aimed at addressing crucial issues of corporate governance, would be passed soon. “The Companies Bill, presently under consideration of our Parliament, seeks to provide a further fillip to the cause of corporate social respon...
Continue Reading...
Category :
Corporate Law |
Comments :
0 | Hits : 882
|
|
China co to create 10000 jobs in India
Posted Date : 13-Apr-2012 , 07:57:23 pm | Posted By CASANSAAR
Power Construction Corporation of China said on Friday it had signed a $2.4 billion contract to build the second phase of a massive coal-fired power complex in southern India that will help meet soaring local demand for electricity.
The second phase of the project for India's Infrastructure Leasing...
Continue Reading...
Category :
International Business |
Comments :
0 | Hits : 973
|
|
Allow customers to opt for electronic repayment:RBI to banks
Posted Date : 13-Apr-2012 , 07:55:03 pm | Posted By CASANSAAR
Following complaints from customers, the Reserve Bank has made it clear to banks that there are no restrictions in allowing use of electronic modes for various transactions including repayment of loans. "It is, therefore, advised that all banks should allow the customers to choose National Electr...
Continue Reading...
Category :
Income Tax |
Comments :
0 | Hits : 714
|
|
SEBI : Private firms, PSUs must increase public holding by 25 % by August 2013
Posted Date : 13-Apr-2012 , 07:52:44 pm | Posted By CASANSAAR
Capital market regulator, SEBI today said both public and private sector companies will have to increase public shareholding to a minimum of 25 per cent by August 2013 and there will be no relaxation of the guidelines. SEBI Chairman Mr. U K Sinha told this to reporters on the sidelines of Bombay Sto...
Continue Reading...
Category :
SEBI |
Comments :
0 | Hits : 760
|
|
Govt to infuse Rs. 1500 cr in public sector banks
Posted Date : 13-Apr-2012 , 07:51:19 pm | Posted By CASANSAAR
The government will infuse about 1,500 crore rupees in the public sector banks during the current fiscal to enhance their financial strength. This was stated by the Finance Minister Pranab Mukheerjee at the 118th foundation day function of Punjab National Bank in New Delhi.Speaking on the occassion....
Continue Reading...
Category :
Banking |
Comments :
0 | Hits : 715
|
|
Jan IIP data revision totally baffling: Finance Minister
Posted Date : 13-Apr-2012 , 03:43:44 pm | Posted By CASANSAAR
Terming sharp revision in the industrial production data as "totally baffling", Finance MinisterPranab Mukherjee today said he has asked the authorities concerned to look into the issue. "I can understand if there is error in calculating 0.1 per cent of 0.2 per cent, but from...
Continue Reading...
Category :
General |
Comments :
0 | Hits : 851
|
|
Govt to allow foreign direct investment from Pakistan
Posted Date : 13-Apr-2012 , 03:32:12 pm | Posted By CASANSAAR
India has decided to allow foreign direct investment from Pakistan, Trade Minister Anand Sharma said on Friday, hours before the two countries were due to open a trading post on the Wagah border in the latest sign of thawing economic ties.Liberalising heavily restricted trade and investment flows ...
Continue Reading...
Category :
International Business |
Comments :
0 | Hits : 850
|
|
Chartered accountant caught accepting Rs 1.5 lakh bribe
Posted Date : 13-Apr-2012 , 07:51:45 am | Posted By CASANSAAR
A Rajkot-based chartered accountant, approved by the government for evaluating firms involved in commodity market, was caught by the anti-corruption bureau (ACB) officials for demanding and accepting Rs 1.5 lakh at a five-star hotel in Satellite on Thursday night.
Dilip Patel,...
Continue Reading...
Category :
ICAI |
Comments :
0 | Hits : 1605
|
|
Cabinet okays Public Procurement Bill to bring transparency and efficiency in mechanism
Posted Date : 13-Apr-2012 , 07:47:27 am | Posted By CASANSAAR
The United Progressive Alliance government has given its go-ahead to a law that seeks to regulate all state purchases above 50 lakh to bring transparency and efficiency in graft-laden procurement mechanism.
The union cabinet chaired by Prime Minister Manmohan Singh approved the Public Procuremen...
Continue Reading...
Category :
General |
Comments :
0 | Hits : 732
|
|
Blackmoney: Government deputes 7 IRS officers for Income Tax units abroad
Posted Date : 13-Apr-2012 , 07:45:28 am | Posted By CASANSAAR
The government has deputed seven senior IRS officers to officiate as First Secretaries at the newly created Income Tax overseas units in countries like the US, the UK and Germany, as part of its efforts to curb the problem of blackmoney and illegal funds stashed abroad.The Income Tax officials, h...
Continue Reading...
Category :
Income Tax |
Comments :
0 | Hits : 755
|
|
|
