Payments crisis: RBI allows Iranian central bank to open A/Cs with UCO and IDBI
Posted Date : 25-Nov-2011 , 08:28:38 pm | Posted By CASANSAAR
In an effort to resolve a long-standing payment crisis, the Reserve Bank of India (RBI) has given permission to the Central Bank of Iran to open rupee accounts with two Indian banks, namely UCO and IDBI. "Permission from the RBI has very recently come to open rupee accounts with two Indian banks...
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International Business |
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18 Proposals of Foreign Direct Investment Amounting to ` 2126.20 Crore Approved
Posted Date : 25-Nov-2011 , 08:19:39 pm | Posted By CASANSAAR
Based on the recommendations of Foreign Investment Promotion Board (FIPB) in its meeting held on November 15, 2011, Government has approved 18 Proposals of Foreign Direct Investment amounting to ` 2126.20 crore ap...
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Finance |
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Comprehensive Competition Reforms at Centre State and Sub-State Levels will be Defining Moment in India: Moily
Posted Date : 25-Nov-2011 , 08:18:33 pm | Posted By CASANSAAR
The time has come for all the stakeholders in the growth of Indian economy to come forward and launch a national movement to build a culture of competition so as to promote innovation, entrepreneurship and inclusive growth and to be part in ushering second generation of reforms. This was stated by t...
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Corporate Law |
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Cabinet clears Companies Bill providing for stricter corporate norms
Posted Date : 25-Nov-2011 , 08:41:55 am | Posted By CASANSAAR
Union Cabinet on Thursday approved the Companies Bill. Top official sources said that the bill is likely to be tabled in the current session of Parliament. The Bill provides for stricter corporate governance norms. Once approved by Parliament, it will replace the Companies Act of 1956. Among other t...
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Corporate Law |
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0 | Hits : 1170
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100cr income tax seizure from coal dealer
Posted Date : 25-Nov-2011 , 08:38:56 am | Posted By CASANSAAR
Income tax officials have seized Rs 100 crore deposited in 13 different accounts of Ana branch of Bank of India at Jharia after searches at the residences of contractor and coal dealer Lal Babu Singh, alias Lal Bahadur Singh, concluded at the Shimla Bahal area on Thursday morning. The inco...
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Category :
Income Tax |
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1 | Hits : 1044
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India Signs an Agreement with Eurasian Group (EAG) to Enhance Cooperation in Areas of Money Laundering and Terrorist Financing
Posted Date : 25-Nov-2011 , 08:36:46 am | Posted By CASANSAAR
India signed an Agreement with the Eurasian Group(EAG) today to inter-alia enhance cooperation in the areas of Money laundering and Terrorist Financing. The Cabinet had approved the agreement earlier this month. The agreement was signed by Dr. Thomas Mathew, Joint Secretary (Capital Markets) Divisio...
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International Business |
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NCLT & NCLAT to replace CLB
Posted Date : 25-Nov-2011 , 08:36:00 am | Posted By CASANSAAR
The Government proposes to set up National Company Law Tribunal (NCLT) and National Company Law Appellate Tribunal (NCLAT) which will replace Company Law Board, Board for Industrial and Financial Reconstruction and Appellate Authority for Industrial and Financial Reconstruction.Provisions regarding ...
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Corporate Law |
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Cabinet clears 51% FDI in multi-brand retail & single-brand 100% in
Posted Date : 24-Nov-2011 , 08:59:50 pm | Posted By CASANSAAR
The government on Thursday approved 51 percent FDI in multi-brand retail and 100 percent in single-brand, a decision that will allow global mega chains like Walmart, Tesco and Carrefour to open outlets in India.Seen as a major boost to improve the situation of policy paralysis that continue to haunt...
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International Business |
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Govt sends reminder to ICAI as only 7% cos shift to new reporting format
Posted Date : 24-Nov-2011 , 02:48:05 pm | Posted By CASANSAAR
The government has asked the accounting regulator to remind companies that they have only a week left for switchover to the new financial reporting format, after data showed less than 7% of companies had complied till a week ago. All listed companies and some unlisted ones are required to file th...
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ICAI |
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Are You eligible for a Loan.? Find your creditworth online for Rs 450
Posted Date : 24-Nov-2011 , 09:01:01 am | Posted By CASANSAAR
For Rs 450, individuals can now get a copy of their credit history and credit score - the document which in recent years has become an important determinant of whether an individual is eligible for a loan on not. On Wednesday, Credit Information Bureau of Indi...
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General |
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Revised Companies Bill to be taken up by Cabinet today
Posted Date : 24-Nov-2011 , 08:58:06 am | Posted By CASANSAAR
The corporate affairs ministry has yielded to the demands of the Finance Ministry and has delegated the power to deal with cases of insider trading and forward dealings in listed companies to the Securities and Exchange Board of India (Sebi) under the revised Companie...
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Corporate Law |
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CA employee robbed of 3 lakh
Posted Date : 24-Nov-2011 , 08:56:19 am | Posted By CASANSAAR
An accountant was looted of Rs 3 lakh outside his office in Athwalines area on Monday when he was about to enter the office. The victim is employed in a chartered accountancy firm in Athwalines near Seventh Day School.
&...
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General |
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New format of the quarterly report to be submitted by the students - ICSI
Posted Date : 24-Nov-2011 , 08:53:48 am | Posted By CASANSAAR
Attention Students
The Training & Educational Facilities Committee of the Council has approved the new format of the quarterly report to be submitted by the students. Students undergoing 15 months training or part training with Companies, PCS, MCA,ROC,RD,OL ,Fi...
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Students Zone |
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RBI hikes Interest Rates on NRE and FCNR(B) Deposits
Posted Date : 24-Nov-2011 , 08:51:02 am | Posted By CASANSAAR
Interest Rates on Non-Resident (External) Rupee (NRE) Deposits
In view of the prevailing market conditions, it has been decided that until further notice and with effect from close of business in India as on November 23, 2011, the interest rates on Non- Resident (Ext...
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RBI |
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I-T Dept taking punitive steps to check black money menace: FM
Posted Date : 24-Nov-2011 , 08:49:18 am | Posted By CASANSAAR
Under attack from various quarters on the issue of black money, Finance Minister Pranab Mukherjee said the Income Tax Department has taken several punitive and deterrent measures to tackle the problem. "The Income Tax Department takes several punitive and deterrent steps to unearth unaccounted m...
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Category :
Income Tax |
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FII withdrawal, weak rupee responsible for market crash: Pranab
Posted Date : 24-Nov-2011 , 08:45:25 am | Posted By CASANSAAR
Finance Minister Pranab Mukherjee on Wednesday attributed the stock market crash to withdrawal of funds by foreign investors and depreciation of the rupee. Mr. Mukherjee told reporters in Delhi that, Markets have crashed because of continuous withdrawal of funds by Foreign Institutional Investors.He...
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Shares & Stock |
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RBI directs cooperative banks not to process over 3-month old cheques
Posted Date : 23-Nov-2011 , 08:14:48 pm | Posted By CASANSAAR
RBI has directed cooperative banks not to make payments on cheques and other financial instruments that are over three months old from next fiscal. "RBI directs that with effect from April 1, 2012, banks should not make payment of cheques/drafts/pay orders/banker's cheques bearing that date or an...
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Banking |
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Tata successor announced: Cyrus Mistry to succeed Ratan Tata
Posted Date : 23-Nov-2011 , 06:20:25 pm | Posted By CASANSAAR
Cyrus Mistry has been selected as head of India’s powerful Tata Group of companies. The 42-year-old will shadow Ratan Tata, who chairs the business and is recognised as one of the world’s most important industrialists, for a year in the role of deputy chairman. He is expected to t...
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General |
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2G case: SC grants bail to 5 corporate executives
Posted Date : 23-Nov-2011 , 03:50:51 pm | Posted By CASANSAAR
In the first bail in 2G case, the Supreme Court today ordered the release of five top corporate executives from Tihar Jail, raising hopes of other accused in the case including former Telecom Minister A Raja and DMK MP Kanimozhi who have been in prison for over six months. A bench comprising jus...
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General |
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Outside party to audit MCD
Posted Date : 23-Nov-2011 , 03:06:23 pm | Posted By CASANSAAR
Embroiled in multiple allegations of graft, the Municipal Corporation of Delhi (MCD) has decided to hire professional consultant for the preparation of its annual financial statement. Also, court orders have made it mandatory for the civic body to have an outside party doing the audit so that ...
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Auditing |
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PSU banks under MCA scanner for easing loan norms for private companies
Posted Date : 23-Nov-2011 , 08:09:10 am | Posted By CASANSAAR
Some state-run lenders and private companies are under scanner of the corporate affairs ministry after allegations that these firms in collusion with bank officials misappropriated bank loans to generate cash among their subsidiaries and inflate enterprise value. "There were allegations that ba...
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Corporate Law |
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Employees can't be forced to work under new management: Supreme Court
Posted Date : 23-Nov-2011 , 08:06:05 am | Posted By CASANSAAR
Employees cannot be compelled to work under a new management and are entitled to retirement or retrenchment benefits, the Supreme Court has held. The apex court rejected the argument of Philip's India Ltd that since the employees had neither retired nor retrenched, hence the...
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General |
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Draft cabinet note for 26% FDI in airlines
Posted Date : 23-Nov-2011 , 08:04:04 am | Posted By CASANSAAR
With Kingfisher Airlines and several other carriers landing in dire straits, the industry ministry has moved a draft cabinet note on allowing 26 per cent foreign direct investment by foreign airlines in the domestic carriers.
"Private airlines in the country are in dire need of funds for ...
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International Business |
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Computer based Mock Common Proficiency Test (CPT) 26th November 2011 called off
Posted Date : 23-Nov-2011 , 08:00:36 am | Posted By CASANSAAR
Due to unavoidable reasons, the computer based Mock CPT scheduled for 26th November 2011 has been called off. The examination fee paid by the students will be refunded shortly. Inconvenience caused is regretted.
However, it is clarified that Paper Pencil mode CPT exam of 18th December 2011 w...
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Students Zone |
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The Ministry of Corporate Affairs is organizing a Webcast on XBRL on Wednesday, the 23rd November, 2011 at 4:00 PM on XBRL
Posted Date : 23-Nov-2011 , 07:58:50 am | Posted By CASANSAAR
The Ministry of Corporate Affairs is organizing a Webcast on XBRL on Wednesday, the 23rd November, 2011 at 4:00 PM on XBRL. Joint Secretary, Ministry of Corporate Affairs (MCA) Shri Avinash Srivastava will address the Webcast. You are cordially invited to join the Webcast by logging in at ...
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Corporate Law |
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0 | Hits : 894
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RBI asks banks to report fraud cases to regional office of DBS
Posted Date : 22-Nov-2011 , 08:29:32 pm | Posted By CASANSAAR
Looking to check banking fraud, the RBI has directed banks to report fraud cases of between Rs 1 lakh and Rs 50 lakh to the regional office of the Department of Banking Supervision."Fraud cases involving an amount more than Rs 1 lakh and up to Rs 50 lakh... (should be reported) to the R.O. (reg...
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Banking |
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0 | Hits : 803
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RBI monitoring Rupee depreciation:Pranab
Posted Date : 22-Nov-2011 , 08:27:01 pm | Posted By CASANSAAR
Finance Minister Pranab Mukherjee has said that the Reserve Bank of India is keeping a close eye on the value of rupee against dollar. Talking to reporters outside Parliament, Mr Mukherjee however said that RBI can not make much intervention as the rupee volatility is because of uncertainty in the i...
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Finance |
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PwC and KPMG criticised over audits
Posted Date : 22-Nov-2011 , 08:53:30 am | Posted By CASANSAAR
PwC and KPMG failed to adequately review how certain clients valued mortgage-related securities in 2010, an auditing watchdog has said.
The Public Company Accounting Oversight Board’s findings from an annual inspection revealed that y...
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Auditing |
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Black money: ED issues notices to LGT bank account holders
Posted Date : 22-Nov-2011 , 08:37:14 am | Posted By CASANSAAR
The Enforcement Directorate has issued foreign exchange violation notices to those individuals whose names have figured in the LGT Bank accounts for stashing illegal funds. The Central Board of Direct Taxes (CBDT) has referred 17 cases to the ED in this connection as the Income Tax department ha...
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Category :
Income Tax |
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0 | Hits : 882
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Income Tax strike hits survey operations
Posted Date : 22-Nov-2011 , 08:31:34 am | Posted By CASANSAAR
The crucial survey operations conducted by the Income Tax department to detect tax evasion have been severely hit due to a long drawn employees agitation in the national capital. I-T employees and officials, except those of the Indian Revenue ...
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Category :
Income Tax |
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0 | Hits : 688
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