Govt debts crossed $41 trillion globally in 2010
Posted Date : 16-Aug-2011 , 01:02:16 pm | Posted By CASANSAAR
The total amount of debt incurred by governments across the world jumped to a staggering USD 41.1 trillion last year, accounting for 69 per cent of the global GDP, because of stimulus packages and anaemic economic growth, says a report. Many governments , especially in the developed world, have...
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Finance |
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Sebi probe shows rise in dirty money in stock market
Posted Date : 16-Aug-2011 , 08:31:13 am | Posted By CASANSAAR
The finance ministry, in response to a Parliament question, has not ruled out that a lot ofblack money is flowing into the stock market. Suspicious transactions reported by mutual funds, depository participants and stock brokers have shown a 40% growth in the last one year, with the Securi...
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SEBI |
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No immediate threat to India's sovereign rating: S&P
Posted Date : 16-Aug-2011 , 08:29:02 am | Posted By CASANSAAR
Standard and Poor's has said there is no immediate threat to India's sovereign debt rating of BBB, though loose fiscal policy and the government's inability to carry forward economic reforms could have implications in the medium term. "We do not see an immediate impact on India's sovereign ra...
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International Business |
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SEBI wants powers to see phone call, e-mail records
Posted Date : 16-Aug-2011 , 08:19:07 am | Posted By CASANSAAR
The Securities and Exchange Board of India has sought powers to seek e-mail and call records from telecom service providers.
This move, the market regulator hopes, will help it prevent black money entering the market as also keep an eye on insider trading.
The Minister of State for Finance, Mr N...
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SEBI |
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Google to buy Motorola Mobility
Posted Date : 16-Aug-2011 , 08:17:14 am | Posted By CASANSAAR
Google Inc said it will buy phone hardware maker Motorola Mobility Holdings Inc for $12.5 billion in cash to bolster the adoption of its Android mobile software.
The deal is Google's biggest deal to date. At $40 a share, the offer represents a 63 percent premium to Motorola Mobility's Frida...
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Income Tax |
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On the Occasion of Independence Day 18 RPF Officers Received President
Posted Date : 15-Aug-2011 , 06:10:39 am | Posted By CASANSAAR
On the occasion of Independence Day, 2011, the Hon’ble President awarded President’s Police Medal for Distinguished Service and Police Medal for Meritorious Service to following Railways Protection Force/Railway Protection Special Force ( RPF/RPSF) officers and per...
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General |
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Any bank can now join national financial switch: NPCI
Posted Date : 14-Aug-2011 , 04:29:44 pm | Posted By CASANSAAR
The National Payments Corporation of India (NPCI) has said any bank with round-the-clock core banking solution capabilities, with/out ATMs, can now join the national financial switch (NFS) through a sponsor bank. NPCI is an umbrella institution for all the Retail Payments Systems' in the coun...
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Banking |
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No more Tax-Free zones: Finance Minister
Posted Date : 14-Aug-2011 , 09:33:28 am | Posted By CASANSAAR
Finance Minister says, there will be no more Tax-Free zones in the country. Talking to news persons in Siliguri today Pranab Mukherjee said that instead of tax free zone, the Centre is considering creating special economic zones in backward districts.He said Tax-free zone status in Himachal Pradesh ...
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Income Tax |
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Prime Minister
Posted Date : 14-Aug-2011 , 09:30:42 am | Posted By CASANSAAR
Following is the text of Prime Minister’s reply to Shri Anna Hazare’s letter dated 14th August, 2011:“I have received your letter, carrying the date 14th August, 2011 and carefully read its contents. Your grievance that the police has given you permission to protest and go on ...
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General |
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Get ready for more I-T raids this financial year
Posted Date : 14-Aug-2011 , 09:28:01 am | Posted By CASANSAAR
Tax evaders can expect frequent crackdowns by the income tax (I-T) department. The reason — an increase in collection target has put authorities under tremendous pressure. The direct tax collection target for Mumbai has been increased from Rs1.85 lakh crore to Rs2.04 lakh crore. For the countr...
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Income Tax |
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Full text of Anna Hazare's letter to PM Manmohan Singh
Posted Date : 13-Aug-2011 , 10:21:21 pm | Posted By CASANSAAR
India Against CorruptionA-119, Kaushambi, Ghaziabad . 201010. UP Ph: 09868069953www.indiaagainstcorruption.orgDate: April 6, 2011 To,
Dr. Manmohan Singh,Hon'ble Prime Minister of IndiaNew Delhi
Dear Dr. Singh,
I have started my indefinite fast at Jantar mantar. I...
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General |
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ICSI playing a pivotal role in promoting good governance among the corporates-Dr. M. Veerappa Moily
Posted Date : 13-Aug-2011 , 08:07:23 am | Posted By CASANSAAR
Union Corporate Affairs Minister Dr. M. Veerappa Moily has thrust upon a Corporate culture that must be familiar to the universally accepted values of good governance – accountability, transparency, responsibility and responsiveness to stakeholders. Inaugurating a Corporate Governance Conc...
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ICSI |
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ICAI issues Frequently Asked Questions on verification of marks
Posted Date : 13-Aug-2011 , 08:04:56 am | Posted By CASANSAAR
Frequently Asked Questions on verification of marks:
Please note that this paper is merely an attempt to provide answers to questions on the subject, posed to us, by the candidates from time to time, to the extent possible and with reference to the extant scheme of examination. However, thi...
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Students Zone |
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Possibility of further rate hike due to inflation: RBI
Posted Date : 13-Aug-2011 , 07:44:29 am | Posted By CASANSAAR
The Reserve Bank said the option of going for another round of rate hike at its next mid-quarterly policy review in September do exist as inflationary pressure continues in the economy. "Probability is always there," RBI Deputy Governor K C Chakrabarty said here today when asked whether anoth...
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RBI |
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NSE to charge fee for currency derivative transactions
Posted Date : 13-Aug-2011 , 07:43:18 am | Posted By CASANSAAR
Traders and investors will have to pay a charge for all currency derivative deals on the country's leading bourse, the National Stock Exchange (NSE), with effect from August 22. The move and its impact on trading volumes will be keenly watched by rival exchange MCX-SX, which moved the Competi...
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Shares & Stock |
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ICAI to submit report in Sept on black money
Posted Date : 13-Aug-2011 , 07:39:40 am | Posted By CASANSAAR
The Institute of Chartered Accountants of India (ICAI) will submit a report to the Central Board of Direct Taxes (CBDT) next month with its recommendations on tackling issues related to black money.
"A nine-member committee is looking into India's Double Taxation Avoidance Treaty Agreemen...
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ICAI |
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Direct tax kitty grows 27%
Posted Date : 13-Aug-2011 , 07:33:35 am | Posted By CASANSAAR
Sluggish industrial performance in the first few months of the current fiscal has had little impact so far on direct tax collection withcorporate tax rising 30% during April-July 2011. The total corporate tax collection in the first four months was estimated at Rs 85,222 crore, contri...
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Income Tax |
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Sebi for greater oversight of auditors, analysts
Posted Date : 12-Aug-2011 , 02:42:57 pm | Posted By CASANSAAR
With an aim to shielding investors from vested interests and potential corporate scams, market regulator the Securities and Exchange Board of India (Sebi) has proposed to frame a strict set of rules for research analysts and wants an independent oversight body for auditors.
At the s...
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SEBI |
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Govt owes Rs 3,500 crore to IT/BPO companies like Infosys, Mphasis, Wipro, in service tax refunds
Posted Date : 12-Aug-2011 , 01:07:05 pm | Posted By CASANSAAR
The IT/BPO sector says the government owes the industry over Rs 3,500 crore in service tax refunds for the past three years. With the amount continuing to grow, the matter is now being taken up by industry bodies Nasscom and the Confederation of Indian Industry (CII). Since 2008, com...
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Service Tax |
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SBI, ICICI Bank raise base rates by 50 bps to 10%
Posted Date : 12-Aug-2011 , 08:26:32 am | Posted By CASANSAAR
The country's top two banks, State Bank of India (SBI) and ICICI Bank, on Thursday announced 50-basis point increases in their minimum lending rates, or base rates, to 10 per cent. The rate rises are effective from Saturday.
The banks had kept their lending rates unchanged since early J...
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Banking |
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Only Sebi can allow MCX-SX equity trade, says court judge
Posted Date : 12-Aug-2011 , 08:24:27 am | Posted By CASANSAAR
The Bombay high court may ask Securities and Exchange Board of India (Sebi) to reconsider its decision to restrain MCX-SX Ltd from trading in equity and other exchange-traded products.
“We cannot direct Sebi to give you (MCX-SX) permission to trade; we can just ask them to recons...
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SEBI |
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Finance ministry to clear norms for new bank licences next week
Posted Date : 12-Aug-2011 , 08:21:48 am | Posted By CASANSAAR
The finance ministry will clear guidelines for new bank permits by next week, potentially setting the stage for the Reserve Bank to roll out licences after a gap of eight years. Once the finance ministry gives its go-ahead, RBI is expected to make the norms public and invite applications for ...
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Banking |
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DTC set to miss deadline again
Posted Date : 12-Aug-2011 , 08:18:37 am | Posted By CASANSAAR
The implementation of the Direct Taxes Code appears set to miss its deadline once again.
The Direct Taxes Code (DTC) Bill, introduced in Parliament on August 30 last year, proposes to replace the 50-year-old Income Tax Act.Initially proposed to come into force from April 2011, the c...
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Income Tax |
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Disinvestment of 10% paid up equity of National Buildings Construction Corporation Limited
Posted Date : 12-Aug-2011 , 08:10:32 am | Posted By CASANSAAR
The Union Cabinet today gave its approval for divestment of 10% of total paid up equity of National Buildings Construction Corporation Ltd. (NBCC) out of its holding through Initial Public Offering (IPO) in the domestic market. The Government of India holds 100% of the equity in the Company. This wi...
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General |
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Corporate Social Responsibility
Posted Date : 12-Aug-2011 , 08:09:41 am | Posted By CASANSAAR
The Minister of State in the Ministry of Corporate Affairs Shri R.P.N. Singh today informed the Rajya Sabha that the Department of Public Enterprises, Ministry of Heavy Industries and Public Enterprises have issued comprehensive guidelines on Corporate Social Responsibility (CSR) for Central Public ...
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Corporate Law |
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Parliament permits government to mint Rs 1,000 denomination coins
Posted Date : 11-Aug-2011 , 05:23:31 pm | Posted By CASANSAAR
Parliament on Thursday permitted the government to mint coins of Rs 1,000 denomination even as nostalgia over withdrawal of 25 paise coins (chawani) was witnessed among Rajya Sabha members. The Coinage Bill, 2009 passed by the Upper House, limits payment by an individual through coins up to Rs ...
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General |
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Railways seeks service tax waiver to keep its finances in order
Posted Date : 11-Aug-2011 , 03:14:52 pm | Posted By CASANSAAR
Indian Railways is casting about for ways to cushion the impact of spiraling fuel prices and may raise passenger fares as a last-ditch measure. An increase in diesel prices in June has added to the worries of the state-run utility, whose finances are already strained by populist measures. ...
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Service Tax |
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More powers to Serious Fraud Investigation Office under the new Companies Bill: M Veerappa Moily, Minister of Corporate Affairs
Posted Date : 11-Aug-2011 , 03:13:16 pm | Posted By CASANSAAR
More powers to Serious Fraud Investigation Office under the new Companies Bill: M Veerappa Moily, Minister of Corporate Affairs He maintained that SFIO had filed 39 cases and all have gone in its favour. "We need to strengthen it by giving it powers of arrest, raid and seizure."
Governme...
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Corporate Law |
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Name change of ICWAI to ICMAI /ICAI
Posted Date : 11-Aug-2011 , 01:45:32 pm | Posted By CASANSAAR
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ICWAI |
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Indian deposits in Swiss banks show steady decline
Posted Date : 11-Aug-2011 , 08:17:02 am | Posted By CASANSAAR
The deposits of Indians in Swiss banks have shown a steady decline over the year. It has halved to 9,295 crore rupees last year from about 23,373 crore rupees in 2006.Finance Minister Pranab Mukherjee said this in a written reply to the Rajya Sabha quoting Swiss National Bank data.
Indians accounte...
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International Business |
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