Dilip Shanghvi ends Mukesh Ambani's eight-year run as India's richest billionaire
Posted Date : 05-Mar-2015 , 08:15:07 pm | Posted By CASANSAAR
Dilip Shanghvi, the billionaire founder of drug maker Sun Pharma has ended Reliance Industries promoter Mukesh Ambani's eight-year run as India's richest billionaire on Wednesday.
For the first time ever, Forbes and the Bloomberg Billionaires Index have also ranked Shanghvi ahea...
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New Investment Pattern For Non-Government Provident Funds, Superannuation Funds And Gratuity Funds With Effect From 1st April, 2015
Posted Date : 01-Mar-2015 , 08:56:58 pm | Posted By CASANSAAR
Government notifies the Investment Pattern for Non-Government Provident Funds, Superannuation Funds and Gratuity Funds. This is reviewed from time to time and revisions are effected based on the developments in the financial market and economy. The investment pattern was last revised on 14th Au...
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Set up of International Financial Services Centre (IFSC)
Posted Date : 01-Mar-2015 , 08:55:23 pm | Posted By CASANSAAR
An International Financial Services Centre (IFSC) is set up at Gandhinagar, Gujarat as a part of a Special Economic Zone (SEZ). To operationalise the IFSC, a Notification under the Foreign Exchange Management Act, 1999 (FEMA) shall be issued by Reserve Bank of India (RBI) in March 2015, ma...
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Indian Insurance Companies (Foreign Investment) Rules, 2015 Notified
Posted Date : 21-Feb-2015 , 08:55:52 am | Posted By CASANSAAR
Indian Insurance Companies (Foreign Investment) Rules, 2015 Notified; Foreign Equity Investment Cap of 49 Per Cent Applicable to All Indian Insurance Companies; Foreign Direct Investment (FDI) Proposals up to 26 Per Cent of the Total Paid-Up Equity of the Indian Insurance Company All...
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Government Approves Eleven (11) Proposals of Foreign Direct Investment (FDI) Amounting to About Rs. 1075.91 Crore
Posted Date : 20-Feb-2015 , 07:41:45 am | Posted By CASANSAAR
Based on the recommendations of Foreign Investment Promotion Board (FIPB) in its meeting held on 4th February 2015, Government has approved Eleven (11) proposals of Foreign Direct Investment amounting to Rs. 1075.91 croreapproximately.
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New Upgraded and Secure Portal for E-Filing of Applications for Foreign Direct Investment Launched
Posted Date : 17-Feb-2015 , 09:53:22 pm | Posted By CASANSAAR
Department of Economic Affairs, Ministry of Finance launched here today a new upgraded and secure user friendly web site for filing and processing of applications for Foreign Direct Investment (FD) requiring Government approval. Presently the applications are filed online at www.fipbindia.com&n...
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ICAI, YES BANK and BSE declare partnership for Financial Literacy
Posted Date : 10-Feb-2015 , 08:18:16 am | Posted By CASANSAAR
Financial Literacy is a critical success factor towards achieving the Government of India’s Vision of achieving complete Financial Inclusions. Basic financial knowledge is crucial to help our citizens become financially responsible as well as secure their financial future and motivate them to ...
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Finance Ministry has invited suggestions from public for the Union Budget 2015-16
Posted Date : 17-Jan-2015 , 10:31:32 pm | Posted By CASANSAAR
The Finance Ministry has invited suggestions from public for the Union Budget 2015-16 to be presented next month.
In order to infuse more transparency into Budget making exercise and to have people as partners to the process of budget making, the Finance Ministry has decided to invite sugge...
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Census on Foreign Liabilities and Assets of Indian Companies 2013-14 - Data Release
Posted Date : 17-Jan-2015 , 10:19:21 pm | Posted By CASANSAAR
The Reserve Bank of India released, on its website, the data related to the Census on Foreign Liabilities and Assets of Indian Companies for the year 2013-14. The Annual Census on Foreign Liabilities and Assets (FLA), 2013-14 covers Indian companies which submit comprehensive information on their ov...
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Government Approves Twelve (12) Proposals of Foreign Direct Investment (FDI) Amounting to Approx Rs.1827.24 Cr
Posted Date : 09-Jan-2015 , 09:14:45 pm | Posted By CASANSAAR
Based on the recommendations of Foreign Investment Promotion Board (FIPB) in its meeting held on 19thDecember 2014, the Government of India has approved twelve (12) proposals of Foreign Direct Investment (FDI) amounting to Rs.1827.24 crore approximately.
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NITI Aayog: PM Narendra Modi appoints 10 members
Posted Date : 05-Jan-2015 , 10:08:57 pm | Posted By CASANSAAR
Arvind Panagariya, a free-market economist who teaches at Columbia University in the US, was appointed on Monday as the first Vice Chairman of the newly-created NITI Aayog along with six members and three special invitees.
Economist Bibek Debroy and former DRDO chief V K Saraswat ...
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Planning Commission gets a new name in 2015: NITI Ayog
Posted Date : 02-Jan-2015 , 08:54:49 am | Posted By CASANSAAR
India's Planning Commission will be renamed "NITI Ayog" as part of a restructuring plan announced by Prime Minister Narendra Modi in his Independence Day speech.
The new plan body, sources say, will have up to five full time members and four union ministers.
The permanent members are expected to b...
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Infusion of Rs. 60 crore in IFCI Ltd. to make it a Government Company
Posted Date : 29-Dec-2014 , 09:17:20 pm | Posted By CASANSAAR
The Union Cabinet chaired by the Prime Minister, Shri Narendra Modi, today approved the infusion of RS. 60 crore in Industrial Finance Corporation of India (IFCI) Ltd. to make it a Government company by way of acquisition of preference shares from existing share holder(s). Background Indus...
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E-Book
Posted Date : 26-Dec-2014 , 08:13:22 am | Posted By CASANSAAR
“E-Book” on “Good Governance: Ministry of Finance” FOREWORD
The Government attaches utmost importance to the need for improving Governance and service delivery to the common man. One of the important tenets in this direction is the effective ...
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Deadline to exchange pre-2005 notes extended till June 30
Posted Date : 23-Dec-2014 , 09:07:20 pm | Posted By CASANSAAR
The deadline for exchanging pre-2005 currency notes of various denominations, including Rs 500 and Rs 1,000, has been extended by another six months till June, 30, 2015.
"The Reserve Bank of India has stated that the public can do so till June 30, 2015. Earlier in March 2014, it had set the last da...
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Deadline to exchange pre-2005 currency notes ends on January 1
Posted Date : 21-Dec-2014 , 07:46:59 pm | Posted By CASANSAAR
People have only 11-days left to exchange currency notes of various denominations, including 500 and 1,000, which were printed before 2005.The deadline for exchanging the pre-2005 notes is January 1, 2015.The Reserve Bank has so far shredded 144.66 crore such notes valued at Rs 52,855 crore since th...
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Govt. notifies relaxed FDI norms for construction sector
Posted Date : 03-Dec-2014 , 11:00:56 pm | Posted By CASANSAAR
To help attract foreign funds in construction of townships, hospitals and hotels, the government on Wednesday relaxed the FDI policy for this sector by easing exit norms and reducing built-up area and capital needs.
The revised norms relating to construction development sector has been noti...
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Government Sets-up A High Level Committee to Interact with Trade and industry on Tax Laws
Posted Date : 03-Dec-2014 , 10:54:54 pm | Posted By CASANSAAR
n his Budget Speech 2014-15, the Union Finance Minister Shri Arun Jaitley had announced the setting-up of a High Level Committee to interact with trade and industry and ascertain areas where clarity on tax laws is required.
Accordingly, a High Level Committee has been constituted with the f...
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Government approves fifteen (15) proposals of Foreign Direct Investment (FDI) amounting to about Rs. 689.35 Crore
Posted Date : 01-Dec-2014 , 06:41:46 pm | Posted By CASANSAAR
Based on the recommendations of Foreign Investment Promotion Board (FIPB) in its meeting held on November 14, 2014, the Central Government has approved fifteen (15) proposals of Foreign Direct Investment (FDI) amounting to Rs. 689.35 crore approximately.
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Govt transfers Financial Services Secretary G S Sandhu; Appoints Gujarat IAS officer Hasmukh Adhia in his place.
Posted Date : 03-Nov-2014 , 10:58:11 pm | Posted By CASANSAAR
In yet another secretary-level change, government today appointed Hasmukh Adhia, a 1981 Gujarat cadre IAS officer, as the new Financial Services Secretary replacing G S Sandhu. Sandhu, a 1980 Rajasthan cadre IAS officer, has been made Chairman of the National Authority for Chemical We...
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Finance Ministry takes steps to cut fiscal deficit
Posted Date : 31-Oct-2014 , 10:18:29 am | Posted By CASANSAAR
The Narendra Modi government launched an austerity drive on Thursday to trim the fiscal deficit to 4.1 per cent of gross domestic product (GDP) in 2014-15 with a 10 per cent across-the-board cut in non-plan expenditure and barred senior officials from first-class air travel, foreign jaunts, holding ...
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Government Committed to Increase Savings Rate in the Country: Secretary, Financial Services
Posted Date : 30-Oct-2014 , 09:11:07 pm | Posted By CASANSAAR
National Savings Institute (NSI), Ministry of Finance, Government of India jointly celebrated here today the World Thrift Day, in collaboration with World Savings & Retail Banking Institute (WSBI), Brussels. In his message on this occasion, the Prime Minister Shri Narendra Modi said that “...
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Government approves Twenty (20) Proposals of Foreign Direct Investment amounting to Rs 988.3 Crore
Posted Date : 24-Oct-2014 , 07:58:58 pm | Posted By CASANSAAR
Based on the recommendations of Foreign Investment Promotion Board (FIPB) in its meeting held on September 16, 2014, the Government has approved twenty (20) proposals of Foreign Direct Investment amounting to Rs. 988.3 crore approximately.
Details of Proposals considered in the Foreign Investment P...
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Arvind Subramanian to be India's next Chief Economic Advisor
Posted Date : 16-Oct-2014 , 10:57:18 pm | Posted By CASANSAAR
The Centre has appointed US-based economist Arvind Subramanian as India's next Chief Economic Advisor in the Finance Ministry.
This was a keenly awaited appointment of the new Modi Government that is facing the challenge of modest economic growth coupled with runaway inflation in recent yea...
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Rajiv Mehrishi Replaces Arvind Mayaram as Finance Secretary
Posted Date : 16-Oct-2014 , 05:39:02 pm | Posted By CASANSAAR
The Narendra Modi government has transferred the top civil servant at the finance ministry, Finance Secretary Arvind Mayaram, replacing him with Rajiv Mehrishi, the chief secretary of Rajasthan, a state that has pushed dramatic free market reforms in recent months.
Mr Mayaram's transfer was p...
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Govt to form joint venture of Maharatnas to revive sick PSU
Posted Date : 25-Sep-2014 , 09:49:09 pm | Posted By CASANSAAR
Heavy Industries and Public Enterprises Minister Anant Geete today said, a Joint Venture of Maharatnas will be formed to help revive sick Public Sector Undertakings. Addressing a Press conference in New Delhi this evening, Mr Geete said, out of 11 sick PSUs, process for reviving five has starte...
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CBI to probe former finance minister P Chidambaram
Posted Date : 19-Sep-2014 , 10:46:44 pm | Posted By CASANSAAR
The CBI will investigate the circumstances of the FIPB approval given by the then Finance Minister P Chidambaram in the Aircel-Maxis deal in 2006. The agency told a special court in its chargesheet in the case that Mauritius-based M/s Global Communication Services Holdi...
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Government Approves Fourteen (14) Proposals of Foreign Direct Investment (FDI) Amounting to about Rs. 1528.38 Crore
Posted Date : 06-Aug-2014 , 07:16:35 pm | Posted By CASANSAAR
Based on the recommendations of Foreign Investment Promotion Board (FIPB) in its 207th meeting held on 4th July, 2014, the Government has approved Fourteen (14) proposals of Foreign Direct Investment (FDI) amounting to Rs. 1528.38 crore approximately.
Deta...
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Govt clears 19 FDI proposals entailing Rs 2,327 cr investment
Posted Date : 17-Jul-2014 , 07:11:54 am | Posted By CASANSAAR
The government has cleared 19 foreign investment proposals, including that of Walt Disney Company and Reckitt Benckiser (India), entailing total investment of Rs 2,326.72 crore.
"Based on the recommendations of Foreign Investment Promotion Board (FIPB) in its meeting held on June 11, 2014, Governme...
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FinMin proposes 49% FDI in insurance sector, caps voting right of overseas partner to 26%
Posted Date : 08-Jul-2014 , 08:07:35 am | Posted By CASANSAAR
The government has set the ball rolling for an increase in foreign direct investment limit in the insurance sector to 49 per cent from the current 26 per cent albeit with a rider that voting right of the overseas partner will be restricted at 26 per cent.
It has also proposed that majority ...
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