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Posted Date : 04-May-2011 , 09:08:52 am | Posted By CASANSAAR
The government plans to hike diesel prices by up to Rs 3 a litre soon after the Assembly elections in five states are over next week, while an equivalent steep increase in petrol rates is also on card."An Empowered Group of Ministers (EGoM) headed by Finance Minister Pranab Mukherjee is scheduled to...
Continue Reading... Category : General | Comments : 1 | Hits : 318
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Posted Date : 03-May-2011 , 09:19:06 pm | Posted By CASANSAAR
The government has cleared 21 foreign direct investment, proposals worth 1,027 crore rupees. According to a Finance Ministry's statement a total of 47 FDI proposals were taken up by the Foreign Investment Promotion Board, in a meeting held on 20th of last month. The Board deferred decisions on 17 ap...
Continue Reading... Category : FEMA | Comments : 0 | Hits : 513
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Posted Date : 03-May-2011 , 11:11:28 am | Posted By CASANSAAR
In line with international practice, the RBI today decided to anchor monetary policy through a single short term lending rate known as repo rate.Unlike in the past, the rate at which the RBI borrows from banks (reverse-repo) will be the benchmarked 100 basis points below the repo rates.Accordi...
Continue Reading... Category : RBI | Comments : 1 | Hits : 389
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Posted Date : 03-May-2011 , 03:41:56 am | Posted By CASANSAAR
In a bid to clamp down on resurgent inflation, the Reserve Bank of India, in its first monetary policy review of 2012, raised repo and reverse repo rates by 50 basis points, thus breaking its calibrated approach. The cash reserve ratio (amount of funds that banks have to keep with RBI), ho...
Continue Reading... Category : RBI | Comments : 0 | Hits : 359
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Posted Date : 02-May-2011 , 09:36:53 pm | Posted By CASANSAAR
PricewaterhouseCoopers affiliates agreed to pay $25.5 million to former Satyam Computer Services Ltd investors to settle US litigation over the audit of the Indian outsourcing company. The settlement came four weeks after PwC agreed to pay a record $7.5 million US penalty over its auditing work for...
Continue Reading... Category : Auditing | Comments : 1 | Hits : 655
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Posted Date : 02-May-2011 , 09:22:19 pm | Posted By CASANSAAR
Loans are expected to get more expensive both for corporates and individuals with Reserve Bank of India hinting that it is willing to sacrifice some growth in order to tame inflation. For markets, banks and economists , it is almost certain that RBI will raise interest rates by a minimum of 25 basis...
Continue Reading... Category : RBI | Comments : 0 | Hits : 316
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Posted Date : 02-May-2011 , 09:19:48 pm | Posted By CASANSAAR
The country's exports went up by an impressive 37.55 per cent to 245.86 billion US Dollars during the last financial year 2010-11. An official press release said that demand for Indian merchandise increased not just in Western economies, but in new markets like Latin America and Africa as well. Acco...
Continue Reading... Category : General | Comments : 0 | Hits : 325
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Posted Date : 02-May-2011 , 10:32:47 am | Posted By CASANSAAR
The Supreme Court today adjourned the hearing of the petition filed by the Sahara Group against the orders of the Allahabad High Court which necessitated the company to share full details of investors participating in its fund raising exercise with the market regulator SEBI.A three judges bench head...
Continue Reading... Category : General | Comments : 0 | Hits : 324
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Posted Date : 01-May-2011 , 10:10:55 pm | Posted By CASANSAAR
Al-Qaeda founder and leader Osama Bin Laden is dead, according to US media reports citing officials. The US is in possession of Bin Laden's body, the reports say. President Barack Obama is due to make a statement shortly. Mr Bin Laden is top of the US most wanted list. He is accused of being behi...
Continue Reading... Category : General | Comments : 1 | Hits : 379
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Posted Date : 01-May-2011 , 11:27:43 am | Posted By CASANSAAR
Government will come out with a strategy in next few days to double the country's export to USD 450 billion by 2014.Commerce and Industry Minister Anand Sharma said that within next three days, the government will come out with the "final strategy" for doubling the export in next three years.S...
Continue Reading... Category : DGFT | Comments : 0 | Hits : 759
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Posted Date : 01-May-2011 , 11:27:16 am | Posted By CASANSAAR
With an aim to rein in cases of over-pricing and over-hyping of IPOs by merchant bankers, market watchdog Sebi wants them to tell the investors about their past record in handling the public offers and also keep the prices at realistic levels.Sebi has expressed its displeasure in very clear te...
Continue Reading... Category : SEBI | Comments : 0 | Hits : 355
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Posted Date : 01-May-2011 , 11:25:53 am | Posted By CASANSAAR
The Income Tax Department became one of the largest purchasers of real estate properties last year as it embarked on a mega expansion spree to spread its establishment for enhancing taxpayer services in the country.The department, which has recently begun a special drive to check prevalence of...
Continue Reading... Category : Income Tax | Comments : 0 | Hits : 352
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Posted Date : 01-May-2011 , 11:23:45 am | Posted By CASANSAAR
Faced with stubborn inflation, RBI is likely to raised key policy rates by at least 25 basis points in its annual credit policy for 2011-12 to be announced on Tuesday to arrest the rate of price rise, say bankers."Given the macro economic conditions, it is expected that the RBI would hike rates by a...
Continue Reading... Category : RBI | Comments : 0 | Hits : 384
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Posted Date : 01-May-2011 , 11:23:03 am | Posted By CASANSAAR
In its bid to promote environment friendly practices, the government has allowed the companies to cut their paper costs by sending annual reports and balance sheets to shareholders on e-mail.In the letter circulated to the Registrar of Companies and Regional Directors, the Corporate Affairs Mi...
Continue Reading... Category : Corporate Law | Comments : 1 | Hits : 436
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Posted Date : 01-May-2011 , 11:21:35 am | Posted By CASANSAAR
Industry Ministry's proposal to open multi-brand retail for foreign investment is likely to go to the Cabinet soon after assembly election results of four states and a Union Territory, taking on board job-related concerns of the Labour Ministry, sources said.The Cabinet note, circulated by the Depar...
Continue Reading... Category : Finance | Comments : 0 | Hits : 387
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Posted Date : 30-Apr-2011 , 08:13:50 am | Posted By CASANSAAR
It's the end of an era for Infosys. 30 years from its inception, founder and chief mentor Narayana Murthy will step down in August 2011 giving way to KV Kamath, the current non-executive Chairman of ICICI Bank. Kamath as been an independent director on the Infosys board since May 2009. The ...
Continue Reading... Category : General | Comments : 0 | Hits : 409
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Posted Date : 30-Apr-2011 , 06:17:58 am | Posted By CASANSAAR
Gold prices surged to a new peak and crossed the Rs 23,000 mark in the national capital today on sustained buying by speculators, triggered by a strong rally in overseas markets. Silver, however, dropped due to reduced offtake.The yellow gold spurted by Rs 655 to all-time high of Rs 23,175 per 10 gr...
Continue Reading... Category : General | Comments : 0 | Hits : 341
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Posted Date : 29-Apr-2011 , 09:38:36 pm | Posted By CASANSAAR
The government is facing a temporary cash crunch on account of tax refunds of nearly Rs 45,000 crore during April and May, prompting it to resort to short-term borrowing . While tax refund is an annual affair, the use of electronic return filing and processing has resulted in faster refund of...
Continue Reading... Category : Income Tax | Comments : 0 | Hits : 452
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Posted Date : 29-Apr-2011 , 11:20:02 am | Posted By CASANSAAR
In a relief to advocates across the country, the Delhi High Court today stayed a Central government notification levying service tax on practising lawyers. "The notification is stayed," a bench comprising Chief Justice Dipak Misra and Sanjiv Khanna said, on a petition by Delhi High Court Bar Associa...
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Posted Date : 29-Apr-2011 , 11:16:41 am | Posted By CASANSAAR
Amid concerns over high inflation and the possibility of hike in key policy rates, Reserve Bank governor D Subbarao today called on Finance Minister Pranab Mukherjee to discuss the state of economy ahead of the apex bank's monetary policy next week."As a standard practice I had come to review the ma...
Continue Reading... Category : RBI | Comments : 0 | Hits : 437
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Posted Date : 29-Apr-2011 , 11:14:17 am | Posted By CASANSAAR
The government will notify the new rules for corporate mergers and acquisitions on May 5, following which it will be mandatory for companies to seek the Competition Commission's approval for high voltage deals, Chairman Dhanendra Kumar said today."By May 3-4, the rules will be finalised and by May 5...
Continue Reading... Category : Finance | Comments : 0 | Hits : 379
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Posted Date : 28-Apr-2011 , 09:25:12 pm | Posted By CASANSAAR
Delhi government today decided to rein in placement agencies across the city and put an end to the "dubious modus operandi" of some of them after it emerged that owner of one such agency was allegedly involved in kidnapping an 18-month old baby to make a fast buck. The government also...
Continue Reading... Category : General | Comments : 0 | Hits : 818
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Posted Date : 28-Apr-2011 , 08:58:59 pm | Posted By CASANSAAR
With the Air India pilots” strike entering its second day on Thursday, over fifty flights were cancelled while several others were delayed. In Delhi, 33 domestic flights were cancelled, as the airline management decided to operate only those flights for which cabin crew as well as ade...
Continue Reading... Category : General | Comments : 0 | Hits : 333
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Posted Date : 28-Apr-2011 , 08:50:02 pm | Posted By CASANSAAR
Subscribers of retirement fund manager EPFO, settling their final claims before the new rate is announced for the current fiscal, will get the existing 9.5 per cent interest on their deposits. “Since the rate of interest (on deposits) for 2010-11 has been declared as 9.5 per cent per ...
Continue Reading... Category : Income Tax | Comments : 0 | Hits : 941
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Posted Date : 28-Apr-2011 , 11:09:58 am | Posted By CASANSAAR
The Institute of Chartered Accountants of India (ICAI)’s annual international meet started in Dubai on Thursday. More than 800 delegates from various GCC countries attended the inaugural session of the two-day conference hosted by Dubai chapter of the Institute. Held under the theme “Wo...
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Posted Date : 28-Apr-2011 , 11:02:01 am | Posted By CASANSAAR
The Public Accounts Committee meeting on Thursday remained inconclusive. Eleven out of 21 members of the Committee rejected the draft report on 2-G scam prepared by the Chairman of the Committee Dr. Murli Manohar Joshi. The Committee was scheduled to submit its report by Saturday. Dr. M M J...
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Posted Date : 28-Apr-2011 , 10:47:41 am | Posted By CASANSAAR
IT czar Azim Premji today expressed concern over various scandals that have surfaced in the country during the last one year and said good leadership in politics, bureaucracy, business and society would help end corruption in India. "In the last one year we witnessed the Telecom scandal, CWG and me...
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Posted Date : 27-Apr-2011 , 09:00:57 pm | Posted By CASANSAAR
The Supreme court on Wednesday directed the Income Tax department to provide a transcript of tapped conversations of corporate lobbyist Neera Radia with corporate honchos, politicians and bureaucrats to CBI and ED which are probing 2G scam case. A bench of Justices GS Singhvi and AK Ganguly passed ...
Continue Reading... Category : Income Tax | Comments : 0 | Hits : 302
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Posted Date : 27-Apr-2011 , 08:58:57 pm | Posted By CASANSAAR
Former union telecom minister A Raja, who is in Tihar jail in the spectrum scam, has objected to the disclosure of his tax returns by the income-tax department under the Right To Information (RTI) Act. Acting on his objection, the department has rejected the RTI application filed by V Gopalakrishna...
Continue Reading... Category : Income Tax | Comments : 0 | Hits : 408
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Posted Date : 27-Apr-2011 , 11:13:38 am | Posted By CASANSAAR
Trouble for Kochi Tuskers Kerala never seems to end -- a fresh row has broken out now between the franchise and Cochin Corporation over alleged tax evasion on ticket sales. Ahead of Wednesday night's match, when the tickets were brought to the corporation for sealing, a new batch of tickets priced ...
Continue Reading... Category : Income Tax | Comments : 0 | Hits : 316
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