Circulation of Fake Currency Notes
Posted Date : 06-Dec-2012 , 10:06:04 pm | Posted By CASANSAAR
National Crime Records Bureau (NCRB) has informed that the total number of Fake Indian Currency Notes (FICN) seized and recovered in the years 2009-10, 2010-11 and 2011-12 has been as follow:-
Period
Total No. of FICN
Total Value (Rs.)
2009-10
670631
26,81,54,...
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FinMin raises FII limit in G-Secs, corp bonds
Posted Date : 01-Dec-2012 , 08:15:24 am | Posted By CASANSAAR
In a move aimed at attracting greater capital flows to help fund the current account deficit, the government has allowed foreign institutional investors to invest an additional $10 billion in government and corporate bonds, raising the overall window to $ 75 billion annually.
...
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Norms For Loan Securitization by NBFCs
Posted Date : 29-Nov-2012 , 10:51:15 pm | Posted By CASANSAAR
RBI has informed that to prevent unhealthy practices surrounding securitization and assignment of loans and to allow for redistribution of credit risk to a wide spectrum of institutions, it has issued revised guidelines on ‘securitization transactions’ on August 21, 2012 which inter-alia...
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How companies are misusing ‘share application money’ to guise questionable financial practices
Posted Date : 27-Nov-2012 , 08:27:15 am | Posted By CASANSAAR
From non-descript companies that bagged coal blocks to shell companies related to BJP president Nitin Gadkari's business interests, the use of 'share application money' is emerging as a convenient way for promoters to channel equity investments into their companies to guise questionable, p...
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Finance minister P Chidambaram asks CEOs of PSU banks to cut margins
Posted Date : 26-Nov-2012 , 08:52:26 am | Posted By CASANSAAR
Finance minister P Chidambaram has told the chief executives of state-owned banks not to be obsessed with higher margins and instead attract borrowers with lower interest rates. Bank managements, according to him, should be happy with a 3% margin - a suggestion that has not gone down...
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Finmin urges corporate affairs ministry to notify to keep ailing banks, insurers out of CCI
Posted Date : 19-Nov-2012 , 08:42:45 am | Posted By CASANSAAR
The finance ministry has urged thecorporate affairs ministry to notify that ailing banks andinsurance companies will not come under the purview of the Competition Commission, a step that can help speed up issuance of new banking licences.In a letter to the corporat...
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Direct cash transfers for schemes from Jan 1
Posted Date : 10-Nov-2012 , 09:40:04 pm | Posted By CASANSAAR
The government would operationalise a phase-wise shift from subsidy-based system to direct cash transfers for several of its schemes from January 1 next year.
The cash transfer system is expected to curb corruption, cut down on administrative costs and minimise the leakages becaus...
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Govt approves disinvestment of 10% stake in Hindustan Aeronautics
Posted Date : 08-Nov-2012 , 10:54:29 pm | Posted By CASANSAAR
A proposal for disinvestment of 10% of government equity in the country's only state-owned aerospace firmHindustan Aeronautics Limited was approved by the Union Cabinet on Thursday.
"The Cabinet Committee on Economic Affairs (CCEA) has approved divestment of 10% equity in&nbs...
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Disinvestment of 10 percent paid up equity of Hindustan Aeronautics Limited
Posted Date : 08-Nov-2012 , 10:46:04 pm | Posted By CASANSAAR
The Cabinet Committee on Economic Affairs has approved to divest 10 percent equity in Hindustan Aeronautics Limited (HAL) out of its holding of 100 percent through an Initial Public Offer (IPO) in the domestic market as per the Securities and Exchange Board of India (SEBI) Rules and Regulations. Fiv...
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SC refuses to interfere with policy on FDI in retail
Posted Date : 05-Nov-2012 , 09:19:48 pm | Posted By CASANSAAR
The Supreme Court today refused to interfere with the policy on FDI in retail, saying that if it does not stand in Parliament then it would be at government’s peril.A Bench of Justices R.M. Lodha and A.R. Dave said that the policy making is the sole prerogative of the executive and refused to ...
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Petrol price to go up by 30 paise a litre, diesel by 18 paise
Posted Date : 25-Oct-2012 , 09:36:39 pm | Posted By CASANSAAR
Petrol prices will be increased by 30 paise per litre and diesel by 18 paise a litre after the government decided to increase the commission paid to petrol pump dealers.
Petrol is currently priced at Rs 67.90 per litre in Delhi and diesel Rs 46.95. After the hike, petrol will co...
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PM sets National Committee for direct cash transfer
Posted Date : 25-Oct-2012 , 09:34:33 pm | Posted By CASANSAAR
Prime Minister Dr Manmohan Singh has constituted a committee to coordinate action for the introduction of direct cash transfers to individuals under the various government schemes and programmes.The National Committee on Direct Cash Transfers chaired by the Prime Minister will provide an overarching...
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Disinvestment of 10 percent paid up equity capital in National Mineral Development Corporation
Posted Date : 25-Oct-2012 , 09:33:55 pm | Posted By CASANSAAR
The Cabinet Committee on Economic Affairs today approved the disinvestment of 10 per cent paid up equity capital (39,64,71,600 shares, each of Full Value of Rs.1/-) of NMDC out of the Government’s shareholding of 90 percent through ‘Offer for the Sale of Shares through Stock Exchange&rsq...
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Finance Minister Shri P. Chidambaram calls for Improving Growth and Penetration of Non Life Insurance Sector
Posted Date : 23-Oct-2012 , 06:08:59 am | Posted By CASANSAAR
The Union Finance Minister Shri P. Chidambaram said that the major challenges before the Non Life Insurance sector is how to increase its reach to the maximum number of people along with growth of investment in this sector. He asked the participating CEOs of both Public Sector and Private Sector Non...
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Satyam's Rs 822-cr fixed deposit attached by ED
Posted Date : 19-Oct-2012 , 07:42:12 am | Posted By CASANSAAR
The Enforcement Direc-torate (ED) on Thursday attached fixed deposits of Rs 822 crore of the erstwhile Satyam Computer Services, kept with four banks. The move relates to a case under the Prevention of Money Laundering Act (PMLA) against the company’s promoter, B Ramalinga Raju, and others.
&...
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14 Proposals Amounting to Rs 113.35 Crore of Foreign Direct Investment Approved by FIPB
Posted Date : 08-Oct-2012 , 09:14:15 pm | Posted By CASANSAAR
Based on the recommendations of Foreign Investment Promotion Board (FIPB) in its meeting held on September 18, 2012, the Central Government has approved fourteen (14) proposals of Foreign Direct Investment amounting to Rs.113.35&...
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LPG price hiked by Rs 11.42 per cylinder
Posted Date : 06-Oct-2012 , 09:56:41 pm | Posted By CASANSAAR
The price of Cooking gas, LPG price has gone up by 11 rupees 42 paise per cylinder with the Government increasing the Dealers' commission. The Commission has been increased from 25 rupee 83 paise to 37 rupees 25 paise for a 14.2-kg LPG cylinder. According to a release by Petroleum and Natural Gas Mi...
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FM to meet regulators, exchanges, institutional investors today
Posted Date : 06-Oct-2012 , 10:07:05 am | Posted By CASANSAAR
Finance Minister P Chidambaram will be meeting key regulators and institutional investors, including FIIs and mutual funds, here on Saturday.Chidambaram is visiting the financial capital for the first time after taking over as Finance Minister on August 1.The meeting follows a series of big-ticket r...
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ED attaches Emaar MGF’s Delhi, Hyderabad properties for Money laundering
Posted Date : 26-Sep-2012 , 08:19:19 am | Posted By CASANSAAR
Enforcement Directorate has attached properties owned by Emaar MGF, the builder of Commonwealth Games Village in Delhi and several projects in Hyderabad, for alleged violation of Prevention of Money Laundering Act.
The attachment concerns the company's properties in Kalkaj...
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FM suggests creation of National Investment Board for clearance of projects
Posted Date : 16-Sep-2012 , 08:44:27 am | Posted By CASANSAAR
The Finance Minister P Chidambaram has suggested creation of National Investment Board for speedy clearance of mega projects. He said the board headed by the Prime Minister Dr. Manmohan Singh may take a investment proposals above 1000 crore rupees in the infrastructure sector.
He said, the...
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Diesel price hiked by Rs 5 per litre, petrol price left unchanged
Posted Date : 13-Sep-2012 , 08:37:42 pm | Posted By CASANSAAR
The Manmohan Singh government has bitten the bullet on fuel prices in the face of huge opposition not only from allied parties, but even within the Congress.The Cabinet Committee on Political Affairs on Thursday approved aRs. 5 hike in the price of diesel. The hike is effective from midnight to...
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21 FDI Proposals Amounting to Rs. 2410 Crore Approved
Posted Date : 11-Sep-2012 , 11:07:56 pm | Posted By CASANSAAR
Based on the recommendations of Foreign Investment Promotion Board (FIPB) in its meeting held on August 24, 2012, Government has approved 21 proposals of Foreign Direct Investment amounting to Rs. 2410 crore approximately.
These include 8 proposals worth Rs.1842.55 crore rel...
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Relaxation of NBFC Norms
Posted Date : 06-Sep-2012 , 07:48:40 am | Posted By CASANSAAR
In view of the problems being faced by NBFC in complying with the extant this criteria on account of their existing portfolio, the RBI modified its directions on August 03, 2012 to include within the definition of ‘qualifying asset’ only those assets which originated on or after 1st Janu...
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Sahara told to repay small investors $3.1 bln
Posted Date : 01-Sep-2012 , 08:17:03 am | Posted By CASANSAAR
Unlisted conglomerate Sahara, one of India's biggest groups and a household name through its cricket sponsorship, must refund 174 billion rupees raised by "dubious" means from 22 million small investors, India's top court has ruled.
Friday's judgment underscored an increasing ass...
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Housing finance firms permitted to raise funds through ECBs
Posted Date : 23-Aug-2012 , 10:40:40 pm | Posted By CASANSAAR
The government has allowed housing financing companies to raise funds through external commercial borrowings, ECBs route to finance low-cost housing projects. A Finance Ministry statement said it has been decided that entities like National Housing Bank ,NHB and Housing Finance Companies, HFC will b...
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FM P Chidambaram approves proposal for 49% FDI in Insurance and pension sector
Posted Date : 23-Aug-2012 , 08:36:44 am | Posted By CASANSAAR
Finance minister P Chidambaram has cleared a proposal to raise foreign direct investmentlimit in insurance and pension sectors to 49%, making it clear that he intends to push sentiment changing reforms even though politically things look difficult for the Unit...
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Govt liberalises ECB norms
Posted Date : 23-Aug-2012 , 08:35:49 am | Posted By CASANSAAR
India has eased overseas borrowing rules to allow easier access to cheap dollar funds to housing financecompanies such as HDFC, small industry financier SIDBI and permitted non-resident entities to provide rating enhancement facility to Indian borrower. The move will also help boost c...
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Govt take steps to evolve consensus on retail FDI
Posted Date : 22-Aug-2012 , 04:07:20 pm | Posted By CASANSAAR
The government has taken steps to evolve a broader consensus among various stakeholders on the issue of Foreign Direct Investment (FDI) in multi-brand retail trading. This information was given in a written reply in the Rajya Sabha today by the Commerce and Industry Minister Mr Anand Sharma. He said...
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Disinvestment process to speed up to meet target of Rs.30,000 cr
Posted Date : 21-Aug-2012 , 07:28:34 am | Posted By CASANSAAR
Disinvestment process is being speeded up to meet the target of 30 thousand crore rupees this year. This will also will help the state-owned companies to hit stock markets in time. Sources said the direction was given by Finance Minister P. Chidambaram at a recent meeting of officials. Economic Affa...
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FM suggests cut in interest rates & lower EMIs to revive economy
Posted Date : 18-Aug-2012 , 09:28:35 pm | Posted By CASANSAAR
Finance Minister P. Chidambaram has asked the banks to cut interest rates, aggressively expand their operations and extend credit to vital sectors to revive economic growth. Briefing the media after meeting the Chief Executives of Public Sector Banks and Financial institutions in New Delhi, Chidamba...
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