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
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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Raghuram Rajan appointed chief economic advisor
Posted Date : 11-Aug-2012 , 08:07:03 am | Posted By CASANSAAR
Former International Monetary Fund chief economist Raghuram Rajan has been appointed the chief economic advisor in the Ministry of Finance. The Appointments Committee of the Cabinet approved his name on Friday, a finance ministry official said. Rajan succeeds Kaushik Basu, who would return to a prof...
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Guidelines for Basel-III Capital Requirement Norms
Posted Date : 09-Aug-2012 , 08:02:54 pm | Posted By CASANSAAR
The Reserve Bank of India (RBI) released the final guidelines on Implementation of Basel III Capital Regulations in India on May 2, 2012 which are available at RBI website www.rbi.org.in. RBI has informed that Basel III will be implemented in India over a sufficiently long transition period to avoid...
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E Governance in DRTs/ DRATs
Posted Date : 26-Jul-2012 , 09:50:08 pm | Posted By CASANSAAR
Department of Financial Services , Ministry of Finance is considering implementation of e-governance in the Debt Recovery Tribunals (DRTs)/Debt Recovery Appellate Tribunals (DRATs) for which the services of National Institute of Smart Governance (NISG) are being utilised as Consultants.
The...
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Finance ministry bans PSU banks from taking over loan accounts
Posted Date : 17-Jul-2012 , 08:29:22 am | Posted By CASANSAAR
The finance ministry has banned public sector banks from taking over loan accounts from lenders where their current chairman and managing director (CMD) or executive director (ED) had worked earlier. The ministry had in June issued draft guidelines on 'takeover of loans' in which it h...
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PFRDA Issues Revised Set of Guidelines for Registration of Pension Fund Managers to Manage National Pension System for the Non-Governmentand Private Sector
Posted Date : 12-Jul-2012 , 07:52:57 pm | Posted By CASANSAAR
The Pension Fund Regulatory and Development Authority (PFRDA) today issued a revised set of guidelines for registration of Pension Fund Managers (PFMs) to manage the National Pension System (NPS) for the non-government and private sector. The revised guidelines, available on PFRDA’s websi...
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Controlling fiscal deficit, tax clarity,clearing FI proposal backlog top priority:PM
Posted Date : 06-Jul-2012 , 10:01:54 pm | Posted By CASANSAAR
Prime Minister Manmohan Singh has assured the international community that India offers a level playing field for foreign investors and there will be no arbitrariness in tax matters. Speaking in an interview to a leading daily, the Prime minister identified, controlling fiscal deficit, achieving cla...
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Finance Ministry under PM will very quickly resolve uncertainty among investors:Montek
Posted Date : 02-Jul-2012 , 03:09:01 pm | Posted By CASANSAAR
Planning Commission Deputy Chairman Montek Singh Ahluwalia said that the Finance Ministry under Prime Minister Manmohan Singh will very quickly resolve uncertainty among investors caused by anti-tax avoidance rules which were unveiled in the Budget.
In an interview to a TV channel, he said,...
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PM reviews state of economy; presses for urgent revival of investor sentiment
Posted Date : 27-Jun-2012 , 10:25:38 pm | Posted By CASANSAAR
A day after taking charge of the Finance Ministry, Prime Minister Manmohan Singh on Wednesday sought to give a push to the sagging economy as he directed initiation of steps to reverse the climate of pessimism and revive investor sentiment. Dr. Singh reviewed the state of economy passing through dif...
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Pranab Mukherjee resigns as Finance Minister; PM to take additional charges
Posted Date : 26-Jun-2012 , 08:48:47 pm | Posted By CASANSAAR
Pranab Mukherjee met Prime Minister Manmohan Singh at his 7 Race Course Road residence and resigned as India's Finance Minister today. Dr Singh is expected to take additional charge of the crucial Finance Ministry, sources have said. An announcement is expected soon. Mr Mukherjee, the ruli...
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India raises foreign investment limit in govt bonds
Posted Date : 25-Jun-2012 , 05:19:37 pm | Posted By CASANSAAR
India took a handful of measures to prop up the embattled rupee on Monday, including increasing the limit on foreign investment in government bonds by $5 billion to $20 billion, the central bank said.COMMENTARY JONATHAN CAVENAGH, SENIOR FOREX STRATEGIST, WESTPAC, SINGAPORE "Well not the 'shock an...
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