FinMin, industry to discuss Takeover Code tomm
Posted Date : 20-Apr-2011 , 10:52:09 am | Posted By CASANSAAR
Finance Ministry is likely to finalise the proposed changes in the takeover code on mergers and acquisitions after a meeting with industry and other stakeholders tomorrow.
The Takeover Regulations Advisory Committee chaired by Chief Economic Advisor Kaushik Basu will discuss the amendments in the c...
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SBI hikes lending rates by 0.25%
Posted Date : 19-Apr-2011 , 08:31:45 am | Posted By CASANSAAR
Country's largest bank SBI on Tuesday announced a hike in its base rate by 25 basis points, making home and auto loans from the lender dearer.
The lender also increased its benchmark lending rate by the same margin which would mean the existing borrowers also have to pay more for their loans.
The ...
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Finmin for re-negotiation of tax treaty with Mauritius
Posted Date : 18-Apr-2011 , 08:19:34 pm | Posted By CASANSAAR
The Finance Ministry favours re-negotiation of the tax treaty with Mauritius so that India could have access to banking details, besides tax-related information.
With a view to prevent generation of black money and stop re-routing of funds through Mauritius, the Finance Ministry has recently asked ...
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FinMin to DoT:Probe role of telcos in tape leakage
Posted Date : 12-Apr-2011 , 09:27:40 am | Posted By CASANSAAR
Amid controversy over leakage of telephonic conversations involving top industrialists, corporate lobbyist Niira Radia and others, the Finance Ministry has asked the DoT to enquire into the conduct of telecom operators and identify individuals involved in it.
"DoT (Department of Telecom) will hav...
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India received USD 628 bn from abroad in Dec 2010
Posted Date : 06-Apr-2011 , 09:27:14 pm | Posted By CASANSAAR
Foreign investment in India rose by USD 22.7 billion in the quarter ending December 2010 to USD 628 billion, mainly on account of increase in portfolio investment and FDI.
Total foreign fund inflows, including FDI, portfolio investment and external commercial borrowings (ECB), rose to USD 628.6 b...
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Government liberalises FDI policy to boost inflows
Posted Date : 02-Apr-2011 , 08:26:47 am | Posted By CASANSAAR
Relaxing the rules for foreign direct investment (FDI) in the country, the government today decided to permit the issuance of equity to overseas firms against imported capital goods and machinery. Furthermore, the norms for overseas investment in production and developments of seeds have been libera...
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Vodafone to pay $5 billion for buying out Essar in India; company could consider IPO in India
Posted Date : 02-Apr-2011 , 08:26:07 am | Posted By CASANSAAR
Vodafone, the world's largest mobile operator by revenue, is to pay $5 billion in cash to buy out Essar Group from their Indian joint venture and bring an end to their increasingly fractious relationship.
Vodafone, which has faced a host of problems since entering the fiercely competitive market ...
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Govt push to 49% FDI in insurance
Posted Date : 02-Apr-2011 , 08:20:49 am | Posted By CASANSAAR
Finance minister Pranab Mukherjee on Sunday said the government is talking to political parties to garner support required to push through a bill that allows 49% FDI in the insurance sector.
Speaking on the sidelines of an event to commemorate the centenary of Central Bank of India, Mukherjee said:...
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No decision yet on FDI in multi-brand retail : FM
Posted Date : 26-Mar-2011 , 10:30:06 pm | Posted By CASANSAAR
Finance minister Pranab Mukherjee on Friday said that the government will not take an ‘off the cuff’ decision on the contentious issue of allowing FDI in multi-brand retail.
Given the...
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Govt clears 14 FDI proposals worth Rs 1,290 cr
Posted Date : 26-Mar-2011 , 10:14:51 pm | Posted By CASANSAAR
The Government today approved 14 proposals of foreign direct investment (FDI),including that of Mauritius based Ghir Investments, totalling Rs 1,289.85 crore.
The Foreign Investment Promotion Board (FIPB), however, deferred decisions on 27 proposals, including that...
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Wipro offers up to Rs 10 cr package to new CEO
Posted Date : 22-Mar-2011 , 12:15:12 pm | Posted By CASANSAAR
As per the terms of appointment of Kurien, salary is in the range of minimum of Rs 3 crore to a maximum of Rs 10 crore a year, Wipro said in a filing to the Bombay Stock Exchange.
This would include periodic increments, variable pay (based on performance criteria), lea...
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PF deposits to earn 9.5% rate after FM nod
Posted Date : 18-Mar-2011 , 10:37:40 am | Posted By CASANSAAR
The Finance Ministry today ratified the hike in provident fund deposits for 2010-11 by 1 per cent to 9.5 per cent. A proposal for the hike was sent by the Labour Ministry in February.
The move is likely to benefit about 4.71 crore EPFO subscribers on their depo...
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Cabinet okays PFRDA Bill; may go to Parliament soon
Posted Date : 18-Mar-2011 , 10:35:26 am | Posted By CASANSAAR
The Union Cabinet today approved a long-pending bill, which is aimed at giving statutory power to the pension regulator PFRDA, paving way for introduction of the same in the current session of Parliament.
The draft legislation is aimed at upgrading the status o...
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CAG asks Punjab to restrict borrowings
Posted Date : 15-Mar-2011 , 11:28:39 am | Posted By CASANSAAR
Finding it difficult for Punjab to service rising debt liabilities in future, the Comptroller and Auditor General has asked the state government to restrict borrowings and further restrained it from using borrowed funds for paying past debts.
CAG has also asked...
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No collateral required for loans to SC/ST: Mukherjee
Posted Date : 14-Mar-2011 , 09:36:09 pm | Posted By CASANSAAR
The government today said the provision of collateral security for getting loans from banks has been waived for SC/ST as part of measures to grant them easier access to credit.
"There is no need for collateral security for these sections for getting bank l...
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Insurers may get to trade in equity futures and options
Posted Date : 14-Mar-2011 , 09:28:52 pm | Posted By CASANSAAR
Insurance Regulatory and Development Authority, or Irda, plans to permit insurers to trade in equity futures and options contracts , which will help the companies protect returns from equity-linked products against sharp stock market declines.
"The rules w...
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Finmin wants RBI to focus on inflation as crude prices harden
Posted Date : 14-Mar-2011 , 09:25:08 pm | Posted By CASANSAAR
Concerned over worsening political turmoil in the Middle-East and the impact of rising global crude prices on the domestic economy, the Finance Ministry has suggested the Reserve Bank to focus on steps to contain inflation.
An indication to this effect was give...
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