IBBI signs a Cooperation Agreement with the International Finance Corporation
Posted Date : 07-Mar-2019 , 10:13:44 am | Posted By CASANSAAR
The Insolvency and Bankruptcy Board of India (IBBI) signed a Cooperation Agreement today with the International Finance Corporation (IFC), a member of the World Bank Group (WBG). The agreement was signed by Mr. K. R. Saji Kumar, Executive Director, IBBI and Mr. Jun Zhang, Country Manager, IFC India,...
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Bitcoin price falls below $5,000 for first time in 13 months
Posted Date : 20-Nov-2018 , 08:19:23 am | Posted By CASANSAAR
The slide in cryptocurrencies accelerated, with Bitcoin prices piercing the $5,000 mark for the first time since October 2017, amid speculation that increased regulatory scrutiny will prompt issuers of initial coin offerings to liquidate holdings. Bitcoin declined as much as 9.1% to $4,958, falling ...
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Reliance receives India’s first LC payment via Blockchain
Posted Date : 05-Nov-2018 , 08:59:16 am | Posted By CASANSAAR
In a first for India, HSBC Holdings Plc has executed a trade finance transaction using blockchain for an export by Reliance Industries Ltd (RIL) to US-based Tricon Energy. The blockchain-enabled letter of credit (LC) transaction substantially reduced the time taken for such deals, RIL said in a pres...
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Revised Double Taxation Avoidance Agreement (DTAA) between India and Kenya notified
Posted Date : 23-Feb-2018 , 10:21:06 am | Posted By CASANSAAR
The Double Taxation Avoidance Agreement (DTAA) between India and Kenya was signed and notified in 1985. Subsequently, the DTAA was renegotiated and a revised DTAA was signed between both countries on 11th July, 2016. The revised DTAA has been notified in the Official Gazette on 19th Febr...
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Tax incentives for International Financial Services Centre
Posted Date : 02-Feb-2018 , 08:45:23 am | Posted By CASANSAAR
In order to promote trade in stock exchanges located in International Financial Services Centre (IFSC), the Union Finance and Corporate Affairs Minister Shri Arun Jaitley proposed to provide two more concessions for IFSC. Presenting the General Budget 2018-19 in Parliament here today, Sh...
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International Business |
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FinMin clears the air on situations where US tax identity number not available
Posted Date : 16-Jan-2018 , 08:39:17 am | Posted By CASANSAAR
The Finance Ministry has made life easier for the Indian Reporting Financial Institutions (RFI) to comply with the Inter-governmental Agreement (IGA) under FATCA in situations where US Tax Identity Number (TIN) is not available for pre-existing accounts (as of June 30, 2014).
It has now advised...
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Cabinet clears 100% FDI in single-brand retail via automatic route
Posted Date : 10-Jan-2018 , 01:51:45 pm | Posted By CASANSAAR
The cabinet today approved 100 percent foreign direct investment (FDI) in single-brand retail through the automatic route, a move seen to trigger foreign inflows into India’s retail market. Previously, the government’s approval was needed for more than 49 percent FDI in single-brand reta...
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International Business |
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16-year-old class 12 boy bags 1.4 crore offer from Google
Posted Date : 01-Aug-2017 , 09:58:56 pm | Posted By CASANSAAR
In the wake of reports that Harshit Sharma - a Chandigarh student - has landed a high-paying job with Google, it has now emerged that the global internet giant has no such record about the 16-year-old boy.
“Currently, we don’t have any information on our records with respect to Harshi...
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International Business |
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Jeff Bezos overtakes Bill Gates to become World's Richest Man
Posted Date : 28-Jul-2017 , 07:45:29 am | Posted By CASANSAAR
Amazon.com founder and The Washington Post owner Jeffrey P. Bezos on Thursday briefly became the richest person in the world, displacing Microsoft founder Bill Gates.
Bezos' rise to No. 1 followed a surge in Amazon.com shares Thursday ahead of the online retailer's earnings report due out...
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Cabinet approves abolition of Foreign Investment Promotion Board
Posted Date : 25-May-2017 , 06:54:00 am | Posted By CASANSAAR
Union Cabinet today approved abolition of Foreign Investment Promotion Board (FIPB) which currently vets FDI proposals requiring the government approval.
Currently, FDI in 11 sectors including defence and retail trading requires FIPB approval. Now, the processing and approval of FDI proposa...
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HSBC discloses tax evasion probes in India, other countries
Posted Date : 27-Feb-2017 , 07:31:38 am | Posted By CASANSAAR
Tax authorities in India and other countries are probing HSBC Bank, including its Swiss and Dubai offices, for allegedly abetting tax evasion by four Indians and their families, the multinational lender has disclosed.
"Various tax administrations, regulatory and law enforcement authorities a...
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India to be fastest growing economy among G-20 nations - Moody's
Posted Date : 23-Feb-2017 , 10:19:27 pm | Posted By CASANSAAR
India will be the fastest growing economy among G-20 countries clocking a 7.1 per cent growth in 2017, Moody's Investors Service said today.
The Indian economy had slowed in the fourth quarter of 2016 due to the withdrawal of 86 per cent of the currency in circulation -- without an immediate ...
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MHA cancels FCRA licences of 20000 NGOs
Posted Date : 28-Dec-2016 , 08:10:39 am | Posted By CASANSAAR
The number of total NGOs in the country with a valid licence to receive foreign funds has shrunk to a mere 13,000 from around 33,000 a year ago, a home ministry spokesperson said on Tuesday. The licences of nearly 20,000 NGOs issued under the Foreign Contributions Regulation Act (FCRA), 2010 were re...
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Nepal bans new Indian currency notes of Rs 500 and Rs 2000
Posted Date : 25-Nov-2016 , 08:36:50 am | Posted By CASANSAAR
The Rs. 2,000 and the new Rs. 500 notes will be legal in Nepal only when India issues a notification under its Foreign Exchange Management Act.
Nepal Rastra Bank on Thursday banned the use of India’s new currency notes of Rs. 500 and Rs. 2,000 denomination, terming them “unauthorised ...
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Donald Trump says will not take any salary or vacation as US President
Posted Date : 14-Nov-2016 , 12:06:37 pm | Posted By CASANSAAR
US President-elect Donald Trump has said he would take USD 1 as his salary a year and not the USD 400,000 that comes with the US president’s job and will refrain from going on any vacation. Asked whether he was going to the president’s salary, 70-year-old Trump said, “No, I’m...
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Donald Trump Elected as 45th President of the United States
Posted Date : 09-Nov-2016 , 01:26:38 pm | Posted By CASANSAAR
Donald John Trump was elected the 45th president of the United States on Tuesday in a stunning culmination of an explosive, populist and polarizing campaign that took relentless aim at the institutions and long-held ideals of American democracy.
The surprise outcome, defying late polls that showe...
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Cabinet increases the limit for foreign investment in Stock Exchanges from 5% to 15%
Posted Date : 27-Jul-2016 , 09:59:08 pm | Posted By CASANSAAR
The Union Cabinet chaired by the Prime Minister Shri Narendra Modi has given its approval for raising foreign shareholding limit from 5% to 15% in Indian Stock Exchanges for a stock exchange, a depository, a banking company, an insurance company, a commodity derivative exchange. The Cabinet has also...
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100 % FDI permitted in marketplace e-retailing with riders
Posted Date : 30-Mar-2016 , 06:50:38 am | Posted By CASANSAAR
Government on Tuesday allowed 100 per cent FDI through automatic route in most of e-commerce retailing, a development that will boost domestic as well as foreign players like Flipkart and Amazon.
While the decision to allow 100 per cent FDI in market place e-retail -- where the company only provi...
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Foreign Investors can buy up to 49% in PC Jeweller: RBI
Posted Date : 29-Jan-2016 , 09:51:48 am | Posted By CASANSAAR
Foreign institutional investors (FIIs) can now invest up to 49 per cent of the paid-up capital of PC Jeweller, the Reserve Bank of India said on Thursday.
The RBI notified (under FEMA 1999) that FIIs/registered foreign portfolio investors (RFPIs) can now invest up to 49 per cent in PC Jeweller Lt...
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RBI sets up helpline for guiding start-ups on forex matters
Posted Date : 23-Dec-2015 , 07:59:45 am | Posted By CASANSAAR
The Reserve Bank of India on Tuesday said it has created a dedicated helpline (helpstartup@rbi.org.in) for start-ups in India in order to offer guidance/assistance for undertaking cross-border transactions within the ambit of the regulatory framework.
While seeking guidance, the enter...
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Government Approves Seven (07) Proposals of Foreign Direct Investment (FDI) Amounting to Rs. 5240.35 Crore Approx
Posted Date : 12-Dec-2015 , 08:57:12 am | Posted By CASANSAAR
Based on the recommendations of Foreign Investment Promotion Board (FIPB) in its 227th meeting held on 9thNovember 2015, the Government has approved Seven (07) proposals of Foreign Direct Investment (FDI) amounting to Rs. 5240.35 crore.
The following Seven (07) proposals have bee...
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Centre eases FDI norms in 15 major sectors
Posted Date : 11-Nov-2015 , 09:19:41 am | Posted By CASANSAAR
The Government has liberalised Foreign Direct Investment, FDI norms in 15 major sectors of the economy to further boost the investment environment and to bring in more foreign investment in the country.
These sectors include mining, civil aviation, defence, broadcasting, construction, manufacturi...
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Government Approves 16 FDI Proposals Worth Rs 4,722 Cr
Posted Date : 29-Oct-2015 , 08:10:12 am | Posted By CASANSAAR
The government has cleared 16 foreign investment proposals, including those of HDFC Capital and Ageon Religare Life Insurance Company, amounting to Rs 4,722 crore.
The investment proposals were approved following the recommendation by the Foreign Investment Promotion Board (FIPB), headed by Econo...
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Government Approves Eleven (11) Proposals of Foreign Direct Investment (FDI) Amounting to Rs. 1,567.91 Crore Approximately
Posted Date : 09-Oct-2015 , 07:26:08 am | Posted By CASANSAAR
Based on the recommendations of Foreign Investment Promotion Board (FIPB) in its meeting held on 11th September 2015, Government has approved 11 (eleven) proposals of Foreign Direct Investment amounting to Rs. 1,567.91 crore.
In addition, two proposals viz., M/s Sistema Shyam Tel...
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Cabinet allows 100 per cent FDI under automatic route for white label ATMs
Posted Date : 09-Sep-2015 , 06:43:26 pm | Posted By CASANSAAR
The Union Cabinet has approved the proposal to allow 100 per cent foreign direct investment (FDI) in white labelled automated teller machines (ATM) through the automatic route.
The decision is likely to result in faster growth of the white labelled ATMs--set up by private non-banking entities&m...
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India-born Sundar Pichai appointed the new CEO of Google
Posted Date : 12-Aug-2015 , 08:50:01 am | Posted By CASANSAAR
India-born Sundar Pichai has been named CEO of Google as part of a surprise corporate overhaul that saw the search giant forming a new parent company called Alphabet Inc.
Pichai, 43, the current company vice-president, has worked on some of the company's best-known products, from the Ch...
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Government Approves Seven (07) Proposals of Foreign Direct Investment (FDI) Amounting to Rs. 981.15 Crore Approximately
Posted Date : 29-Jul-2015 , 11:50:12 pm | Posted By CASANSAAR
Based on the recommendations of Foreign Investment Promotion Board (FIPB) in its 220th meeting held on 3rd July 2015, Government has approved 07 proposals of Foreign Direct Investment amounting to Rs. 981.15crore approximately.
Details of Proposals considered in the For...
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Govt to announce interest subvention scheme for exporters
Posted Date : 18-Jul-2015 , 08:47:11 am | Posted By CASANSAAR
Government will soon announce interest subvention scheme for exporters. Commerce and Industry Minister Nirmala Sitharaman said at a function in New Delhi today that the scheme will give encouragement to sectors that have high potential. She said exports are largely suffering because international de...
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Cabinet gives nod to foreign investment composite cap
Posted Date : 16-Jul-2015 , 05:18:27 pm | Posted By CASANSAAR
In a bid to streamline the FDI structure, the government on Thursday introduced a composite foreign investment cap by clubbing all forms of overseas investments to define sectoral limits.
Briefing reporters after the Cabinet meeting, Finance Minister Arun Jaitley said that “from...
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Deloitte Pays $1M to Settle Auditor Independence Violation
Posted Date : 02-Jul-2015 , 08:45:45 am | Posted By CASANSAAR
The Securities and Exchange Commission has charged Deloitte & Touche LLP with violating auditor independence rules when its consulting affiliate maintained a business relationship with a trustee serving on the boards and audit committees of three funds it audited.
Deloitte agreed to p...
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