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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Two FDI Proposals Amounting to RS. 89.33 Crore Approved by the Government
Posted Date : 29-Apr-2013 , 10:29:59 pm | Posted By CASANSAAR
Further to para 8 of the Press Release dated March 25, 2013, wherein it was stated that decision of the 6 (Six) proposals will be communicated separately, the Central Government has approved two (2)Proposals of Foreign Direct Investment (FDI) amounting to Rs. 89.33 crore app...
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Govt releases latest edition of consolidated FDI policy
Posted Date : 06-Apr-2013 , 03:07:25 pm | Posted By CASANSAAR
The Department of Industrial Policy and Promotion (DIPP) today released the latest edition of consolidated FDI policy incorporating the changes made in the regulations over the past one year.
The DIPP is the nodal agency on FDI related matters. With a view to make Indias FDI regime simple and easy ...
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Foreign investment in Government Securities and Corporate Bonds Rationalised
Posted Date : 01-Apr-2013 , 10:09:41 pm | Posted By CASANSAAR
The Central Government in consultation with Reserve Bank of India (RBI) and SEBI has been progressively liberalizing/rationalizing the scheme for foreign investment in G-Secs and Corporate bonds keeping in view the evolving macroeconomic scenario and financing needs of the economy. Till now FII...
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Revision of Interest Rates for Small Savings Schemes With Effect from 1ST APRIL,2013
Posted Date : 25-Mar-2013 , 10:05:11 pm | Posted By CASANSAAR
Based on the decisions taken by the Government on the recommendations of the Shyamala Gopinath Committee for Comprehensive Review of National Small Savings Fund (NSSF), the interest rates for small saving schemes are to be notified every financial year, before 1st April of that year. Accordingl...
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Super-regulator for financial sector mooted
Posted Date : 23-Mar-2013 , 05:26:20 pm | Posted By CASANSAAR
A government-appointed panel on Friday proposed a unified regulator for markets, insurance, commodities and pensions. It proposed to keep banking out of its purview, but only temporarily.
The panel, whose proposals could change the financial landscape of India, also suggested five additio...
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Govt approves 12 FDI proposals worth over Rs 2,609 crore
Posted Date : 22-Mar-2013 , 05:31:45 pm | Posted By CASANSAAR
The government on Friday said it has approved 12 FDI proposals, including that of pharma firm Claris Otsuka, totalling over Rs 2,609 crore.
The foreign investment promotion board (FIPB) headed by economic affairs secretary Arvind Mayaram, also cleared the proposal of Decat...
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Government Approves Nine Proposals of Foreign Direct Investment Amounting to About Rs.1140.14 Crore
Posted Date : 01-Mar-2013 , 06:51:58 pm | Posted By CASANSAAR
Based on the recommendations of Foreign Investment Promotion Board (FIPB) in its meeting held on January 21, 2013, the Government has approved nine (9) Proposals of Foreign Direct Investment amounting to Rs.1140.14crore appro...
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Finance Ministry sends IKEA's FDI proposal to Cabinet for final approval
Posted Date : 27-Feb-2013 , 07:08:42 pm | Posted By CASANSAAR
After clearing the IKEA's Rs. 10,500 crore FDI proposal, the Finance Ministry today said it has now forwarded the investment plans of Swedish furniture major to set up single-brand retail stores to the Cabinet Committee on Economic Affairs (CCEA) for final approval.
"One proposal (of) M/s...
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FIPB clears 4 single-brand retail FDI proposals of worth Rs 750 crore
Posted Date : 13-Feb-2013 , 04:20:13 pm | Posted By CASANSAAR
The Finance Ministry today cleared four foreign direct investment (FDI) proposals in single brand retailing, including that of Decathlon and Fossil Inc, worth about Rs 750 crore, sources said. Foreign Investment Promotion Board (FIPB), headed by Economic Affairs Secretary Ar...
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Public Debt Management for the Third Quarter of 2012-13 (Oct-Dec 2012) Released by Ministry of Finance
Posted Date : 24-Jan-2013 , 05:56:53 pm | Posted By CASANSAAR
The report on Public Debt Management for the third quarter of 2012-13 (Oct-Dec 2012) has been released by the Ministry of Finance and will be placed on the Ministry’s website i.e. www.finmin.nic.in today. The said report is attached here with as well.
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Four FDI Proposals Amounting to Rs. 1286.75 Crore Approved by FIPB
Posted Date : 15-Jan-2013 , 09:34:59 pm | Posted By CASANSAAR
Based on the recommendations of Foreign Investment Promotion Board (FIPB) in its meeting held on December 31, 2012, the Central Government has approved four (04) proposals of Foreign Direct Investment (FD...
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Mobile phone companies to seek written consent before activating value-added services
Posted Date : 15-Jan-2013 , 09:31:57 am | Posted By CASANSAAR
Mobile phone companies will have to seek written consent from consumers before activating value-added services such as caller tunes, cricket updates etc. All telcos would have to seek mandatory consent of a customer - through email, SMS, fax or in writing - before activating any VAS t...
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Govt approves 14 FDI proposals worth over Rs 1,300 cr
Posted Date : 11-Jan-2013 , 05:15:32 pm | Posted By CASANSAAR
The government on Friday said it has approved 14 FDI proposals worth about Rs 1,311 crore including that of Hindustan Port Ltd.
“Based on the recommendations of FIPB in its meeting held on December 21, government has approved 14 proposals of foreign direct investment amounti...
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President gives assent to money laundering, banking bills
Posted Date : 10-Jan-2013 , 02:01:52 pm | Posted By CASANSAAR
The three financial sectors reforms laws, Prevention of MoneyLaundering (Amendment) Bill and Banking Laws (Amendment) Bill, 2012 have become law of the land with President Pranab Mukherjee giving assent to them.
The Enforcement of Security Interest and Recovery of Debts Laws (A...
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Black money could account for 10% of GDP (above Rs. 10 Lakh Crore) : Study
Posted Date : 10-Jan-2013 , 01:45:44 pm | Posted By CASANSAAR
A study commissioned by the government last year on quantifying black money generated in the country has estimated that the illicit wealth is likely to exceed 10% ofGDP or anywhere above Rs 10 lakh crore, given the size of the economy.
The 1,000-page report was submitted to the...
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Govt sets up Fin Commission; to look into pricing of utilities
Posted Date : 02-Jan-2013 , 06:47:42 pm | Posted By CASANSAAR
The government on Wednesday constituted the 14th Finance Commission under the Chairmanship of former RBI Governor Y V Reddy, which among other things, will suggest steps for pricing of public utilities like electricity and water in an independent manner.
Announcing the formation of t...
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India’s Total External Debt Stock Stood at US$ 365.3 Billion
Posted Date : 31-Dec-2012 , 07:25:09 pm | Posted By CASANSAAR
Department of Economic Affairs, Ministry of Finance has been compiling and releasing quarterly statistics on India’s External Debt for the quarters ending September and December every year. This relates to India’s external debt at end-September 2012.
At end-September 2012, India...
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Forex reserves rises by $ 1.637 bn to $ 296.63 bn
Posted Date : 23-Dec-2012 , 07:09:36 am | Posted By CASANSAAR
The foreign exchange reserves rose by a robust 1.637 billion dollars to touch 296.63 billion mark during the week ended December the 14th.According to the Reserve Bank's weekly statistical supplement, the gold reserves remained unchanged at 27.803 billion dollars during the week....
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Parliament passes stringent law against money laundering
Posted Date : 18-Dec-2012 , 07:54:42 am | Posted By CASANSAAR
A bill, which seeks to enlarge the definition of money laundering offences and could help curb funding of terrorist operations, was approved by Parliament today.The Prevention of Money Laundering (Amendment) Bill was passed by the Rajya Sabha by voice vote afterFinance ...
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Cases of Default in Repayment by the Non-Banking Financial Companies
Posted Date : 10-Dec-2012 , 09:51:42 pm | Posted By CASANSAAR
As on 30th November 2012, eight cases of default in repayment of deposits by the Non-Banking Financial Companies (NBFC) were pending with the Regional Benches of the Company Law Board (CLB) all over the country. Giving this information in written reply to a question in the Parliament, Shri ...
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