Pre-Budget Parleys Begin Today
Posted Date : 05-Jun-2014 , 06:50:09 am | Posted By CASANSAAR
Finance Minister Arun Jaitley, who is expected to present his maiden Budget in the first week of July, is all set to begin pre-budget consultations with various stakeholders beginning Thursday.
To begin with, Jaitley will hold consultations with the farm sector, which is facing uncertaintie...
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Govt initiates exercise to raise FDI in defence sector to 100 pct
Posted Date : 30-May-2014 , 08:29:06 am | Posted By CASANSAAR
In a major policy initiative, the Narendra Modi government is proposing to raise FDI in defence sector to 100 per cent through the approval route.
"The Commerce and Industry ministry has circulated a Cabinet note for inter-ministerial consultation," sources said.
The proposal to ra...
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Finance ministry wants public banks to report wilful defaults straight to Sebi
Posted Date : 28-Apr-2014 , 08:11:43 am | Posted By CASANSAAR
The finance ministry wants public sector banks (PSB) to send information on listed firms declared as wilful defaulters directly to Sebi instead of routing the same through the RBI, which is the present norm. Necessary changes in the relevant laws are being initiated.
The idea, official sour...
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SEBI tightens norms to check money laundering, terror funding
Posted Date : 13-Mar-2014 , 08:33:39 am | Posted By CASANSAAR
Watchdog SEBI Wednesday tightened norms aimed at countering money laundering and terror financing through the capital markets and asked market entities to conduct detailed risk assessment of their clients, including those linked to countries facing international sanctions.
The market intermediaries...
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Revision of Interest Rates for Small Savings Schemes for the Financial Year 2014-15 Announced
Posted Date : 05-Mar-2014 , 08:22:44 am | Posted By CASANSAAR
Various decisions taken by the Government of India on the recommendations of the Shyamala Gopinath Committee for Comprehensive Review of National Small Savings Fund (NSSF), were communicated to all concerned by the Government through its Office Memorandum dated 11th November, 2011.
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GlaxoSmithKline's Rs 6,400 cr FDI proposal cleared by govt
Posted Date : 20-Feb-2014 , 01:23:23 pm | Posted By CASANSAAR
The government today cleared Rs 6,400 crore FDI proposal of global healthcare company GlaxoSmithKline to acquire additional 24.33 per cent stake in its India arm.
The Cabinet Committee on Economic Affairs (CCEA) has approved the proposal of GlaxoSmithKline Pte Limited, Singapore for acquisi...
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Government Approves Five Proposals of Foreign Direct Investment (FDI) Amounting to About Rs. 1133.41 Crore
Posted Date : 15-Jan-2014 , 07:48:11 pm | Posted By CASANSAAR
Based on the recommendations of Foreign Investment Promotion Board (FIPB) made in its meeting held on December 30, 2013, the Government of India has approved five (05) proposals of Foreign Direct Investment (FDI) amounting to Rs. 1133.41 crore approximately.
D...
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Government Approves Two Proposals of Foreign Direct Investment (FDI) Amounting to About Rs. 97.85 Crore
Posted Date : 12-Dec-2013 , 05:49:14 pm | Posted By CASANSAAR
Further to para 7 of the Press Release dated October 25, 2013, wherein it was stated that decision about the five (5) proposals will be communicated separately, the Government of India has approved two (2) proposals of Foreign Direct Investment (FDI) amounting to Rs. 97.85 crore.
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Government Approves one Proposal of Foreign Direct Investment (FDI) Amounting to About Rs. 31.92 Crore
Posted Date : 10-Dec-2013 , 07:08:55 pm | Posted By CASANSAAR
Further to para 7 of the Press Release dated September 27, 2013, wherein it was stated that decision of the one proposal will be communicated separately, the Government of India has approved the proposal of Foreign DirectInvestment(FDI) amounting to Rs. 31.92 crore appr...
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Unlisted companies get nod to raise funds abroad
Posted Date : 09-Dec-2013 , 08:52:02 am | Posted By CASANSAAR
Unlisted firms can now raise capital abroad without the requirement of prior listing in India initially for a period of two years after the department of industrial policy and promotion (DIPP) on Friday amended the existing policy on the issue of shares.
The DIPP modified the FDI policy all...
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Finance professionals in India frustrated by lack of investment: Survey
Posted Date : 01-Dec-2013 , 08:44:40 am | Posted By CASANSAAR
Indian finance professionals have witnessed more business opportunities over the past six months but are frustrated due to their inability to use such situations, a survey says.
According to the latest global economic conditions survey, undertaken by the Association of Ch...
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Govt to come-up with inflation based certificate to neutralize impact of inflation
Posted Date : 31-Oct-2013 , 08:46:15 am | Posted By CASANSAAR
The government will soon introduce inflation-based certificate to provide some cover to households from impact of inflation, a senior Finance Ministryofficial has said. "Government of India is very soon coming-up with inflation based certificate which is aimed at neutra...
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RIL first private company to earn over Rs 1 lakh crore in a quarter
Posted Date : 15-Oct-2013 , 08:17:16 am | Posted By CASANSAAR
The Mukesh Ambani-led Reliance Industries (RIL) on Monday became the first private sector firm to report revenues exceeding Rs 1 lakh crore in a quarter, joining its public sector peer Indian Oil Corporation ( IOC) which is the only other Indian company with the distinction ...
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Government Approves Fifteen (15) Proposals of Foreign Direct Investment Amounting to About Rs. 2000.49 Crore
Posted Date : 27-Sep-2013 , 06:33:34 pm | Posted By CASANSAAR
Based on the recommendations of Foreign Investment Promotion Board (FIPB) in its meeting held on August 27, 2013, the Central Government has approved 15 proposals of Foreign Direct Investment (FDI) amounting to Rs. 2000.49 crore approximately.
In addition, two proposals viz., M/s...
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FIIS allowed to invest 90% directly in Govt Debt
Posted Date : 14-Sep-2013 , 06:59:13 pm | Posted By CASANSAAR
Market regulator SEBI today allowed foreign investors to invest directly in the debt market, by doing way with the auction process.In a circular Securities and Exchange Board of India said that “it has been decided that FIIs/QFIs can now invest in government debt without purchasing debt limits...
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India has lost confidence of the world: Ratan Tata
Posted Date : 28-Aug-2013 , 08:23:43 pm | Posted By CASANSAAR
With the economy in distress, leading industrialist Ratan Tata has said India has lost the confidence of the world and the government has been slow to recognise it.
He also said the government has “swayed” under the influence of vested interests in private sector and policies ha...
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Cabinet panel approves
Posted Date : 02-Aug-2013 , 07:04:00 am | Posted By CASANSAAR
The Cabinet Committee on Economic Affairs (CCEA) on Thursday approved “dilution” of certain safeguards including relaxing the 30 per cent sourcing norm and dropping the mandatory 50 per cent condition for backend infrastructure investment which were approved by Parliament while allowing ...
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Government Approves Eight (8) Proposals of Foreign Direct Investment Amounting to about Rs.1311.54 Crore
Posted Date : 03-Jul-2013 , 04:12:11 pm | Posted By CASANSAAR
Based on the recommendations of Foreign Investment Promotion Board (FIPB) in its meetingheld on June 14, 2013, the Government of India has approved eight (8) Proposals of Foreign DirectInvestment amounting to Rs. 1311.54 ...
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Finance Ministry to notify Commodity Transaction Tax soon
Posted Date : 20-Jun-2013 , 05:47:37 am | Posted By CASANSAAR
Finance Ministry will soon notify implementation of Commodity Transaction Tax (CTT) which will be levied primarily on processed agricultural commodities, including sugar, soya oil and mentha oil. About 11 processed farm commodities would attract CTT, which will be levied at the r...
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Government Approves 1 Proposal of Foreign Direct Investment Amounting to About Rs.7.00 Crore
Posted Date : 19-Jun-2013 , 10:13:26 pm | Posted By CASANSAAR
Further to para 5 of the Press Release dated May 31, 2013, wherein it was stated that decision of the 2 (Two) proposals will be communicated separately, Government has approved 1 Proposal of Foreign Direct Investment amounting to Rs. 7.00 crore approximately.
...
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Government Approves 16 Proposals of Foreign Direct Investment Amounting to About Rs.1646.875 Crore
Posted Date : 18-Jun-2013 , 04:35:22 pm | Posted By CASANSAAR
Based on the recommendations of Foreign Investment Promotion Board (FIPB) in its meeting held on May 10, 2013, the Central Government has approved sixteen (16) proposals of Foreign Direct Investment (FDI) amounting toRs.1646.875cr...
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Rupee hits key level of 57 vs dollar, nears record low
Posted Date : 06-Jun-2013 , 12:19:35 pm | Posted By CASANSAAR
The rupee touched the key psychological level of 57 to the dollar on Thursday, approaching a record low hit nearly a year earlier as fears of an end to the U.S. Federal Reserve's monetary stimulus sent the dollar higher and hit local shares.
Recent U.S. economic data has been mixed, whi...
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DoT slaps Rs 1,263cr fine on Vodafone for under reporting revenues
Posted Date : 04-Jun-2013 , 12:16:40 pm | Posted By CASANSAAR
The telecoms department has issued a demand notice to Vodafone asking the Indian arm of the world's largest mobile phone company to pay up Rs 1,263 crore for reporting lower than earned revenue during 2008-09 and 2010-11. People aware of the development told ETthat the telecoms depart...
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Proposed Indian Financial Code to be milestone in financial reforms: FM
Posted Date : 22-May-2013 , 01:05:41 pm | Posted By CASANSAAR
Finance Minister P Chidabaram has said that making laws in the country is not an easy task which has become even more difficult due to legitimization of obstructionism as a Parliamentary tactic and coalition era. He, however, said the government will not give up and is determination to push thr...
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Govt cracksdown on chit funds; proposes ban for MLM cos
Posted Date : 18-May-2013 , 08:16:49 am | Posted By CASANSAAR
The government is moving to ban multi-level marketing (MLM companies through an amendment to The Prize Chits and Money Circulation Schemes (Banning) Act, 1978. The proposal has been mooted by the department of financial services and is likely to be fast tracked considering the seriousness of the chi...
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Double Digit Returns on National Pension System (NPS) Schemes for Financial Year 2012-13
Posted Date : 15-May-2013 , 06:47:55 pm | Posted By CASANSAAR
The National Pension System (NPS) regulated by Pension Fund Regulatory and Development Authority (PFRDA) has delivered double digit returns for the financial year 2012-13 and has evidenced itself as not just being the cheapest retirement product but also as the highest returns generating scheme.
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FinMin ratifies 8.5% interest on PF deposits for 2012-13
Posted Date : 15-May-2013 , 03:01:26 pm | Posted By CASANSAAR
The Finance Ministry has approved payment of 8.5% rate interest for 2012-13, up from 8.25% in the previous fiscal, benefiting over 5 crore EPFO subscribers.
"Finance Ministry has notified 8.5% interest rate for 2012-13. It will be implemented with immediate effect," EPFO's Central Provident Fund Co...
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Record Performance of SPMCIL in Production of Bank Notes, Coins and Security Products During 2012-13
Posted Date : 14-May-2013 , 08:50:14 pm | Posted By CASANSAAR
Security Printing & Minting Corporation of India Ltd. (SPMCIL) has achieved all the targets with regard to production of Bank Notes, Coins, Security Products (Passports, NJSPs, Postal Products and other Security Products) and production of the Raw Materials (Security Inks and Security Paper) dur...
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Government Asks CMDS of Public Sector Banks and LIC to Initiate Immediate Action Against those Exposed by Cobrapost
Posted Date : 07-May-2013 , 08:14:59 am | Posted By CASANSAAR
In connection with Cobrapost, Red Spider 2 Expose that was released today morning, the Secretary, Department of Financial Services Shri Rajiv Takru has asked the Chairman cum Managing Directors (CMDs) of various Public Sector Banks (PSBs) Including Allahabad Bank. Andhra Bank, Bank of Baroda, Bank o...
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SC upholds 51% FDI in multi-brand retail
Posted Date : 02-May-2013 , 08:47:30 am | Posted By CASANSAAR
After getting cornered by the Supreme Court for scams and controversies for quite some time, the UPA government on Wednesday had something to cheer about with the apex court upholding the constitutional validity of its decision allowing 51% foreign direct investment in the multi-...
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