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  • Posted Date : 22-May-2011 , 10:17:43 am | Posted By CASANSAAR

     The Finance Ministry is likely to set up Directorate of Criminal Investigation, a specialised wing to probe cases of black money, money laundering and terror funding, by the end of this month."A dedicated unit called Directorate of Criminal Investigation will look into the nexus between black ...

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  • Posted Date : 21-May-2011 , 09:38:55 am | Posted By CASANSAAR

    The country will continue to face inflationary pressures due to the high global commodity and oil prices, Finance Minister Pranab Mukherjee today said."We are told that there could be pressure on commodity prices because of shortage in production of certain essential food items," Mukherjee told repo...

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  • Posted Date : 17-May-2011 , 09:43:49 pm | Posted By CASANSAAR

    Hit by higher provisioning for bad loans and increased tax outgo, the net profit of the country's largest lender State Bank of India (SBI) tanked by about 99 per cent to Rs 20.8 crore for the fourth quarter ended March, 2011.SBI's profit plunged for the March quarter of the last fiscal from Rs 1,866...

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  • Posted Date : 16-May-2011 , 11:02:01 am | Posted By CASANSAAR

    The government has signed a USD 150 million loan agreement with the World Bank to push e-governance initiatives by filling in strategic policy gaps."This loan will support critical policy measures within Government's overall e-Governance reform agenda leading to more robust implementation of NeGP, w...

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  • Posted Date : 10-May-2011 , 09:18:19 pm | Posted By CASANSAAR

    The Cabinet is likely to approve a proposal to allow foreign direct investment (FDI) in Limited Liability Partnership firms on Wednesday. "The proposal to allow FDI in LLPs in on the agenda of the Cabinet. It is likely to be approved," a source said. The move will enable LLPs to choose among domesti...

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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...

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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...

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  • Posted Date : 21-Apr-2011 , 09:25:10 pm | Posted By CASANSAAR

    In a set back to British telecom giant Vodafone, the Madras High Court today said that the foreign firm has no locus standi to oppose the amalgamation of Essar Telecommunications Holding with India Securities. The Court had earlier reserved its order on whether UK-based telecom firm Vodafone has loc...

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  • Posted Date : 20-Apr-2011 , 11:19:25 am | Posted By CASANSAAR

    The government today said it is committed to come out with a policy on FDI in retail but foreign investment must be linked with the development of back-end facilities."The policy we come out with must involve back-end to front-end linkages in terms of capacity augmentation and investment," Minister ...

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  • Posted Date : 20-Apr-2011 , 11:18:46 am | Posted By CASANSAAR

    Finance Ministry is likely to finalise the proposed changes in the takeover code on mergers and acquisitions after a meeting with industry and other stakeholders tomorrow.The Takeover Regulations Advisory Committee chaired by Chief Economic Advisor Kaushik Basu will discuss the amendments in the cod...

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  • Posted Date : 20-Apr-2011 , 10:52:09 am | Posted By CASANSAAR

    Finance Ministry is likely to finalise the proposed changes in the takeover code on mergers and acquisitions after a meeting with industry and other stakeholders tomorrow. The Takeover Regulations Advisory Committee chaired by Chief Economic Advisor Kaushik Basu will discuss the amendments in the c...

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  • Posted Date : 19-Apr-2011 , 08:31:45 am | Posted By CASANSAAR

    Country's largest bank SBI on Tuesday announced a hike in its base rate by 25 basis points, making home and auto loans from the lender dearer. The lender also increased its benchmark lending rate by the same margin which would mean the existing borrowers also have to pay more for their loans. The ...

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  • Posted Date : 18-Apr-2011 , 08:19:34 pm | Posted By CASANSAAR

    The Finance Ministry favours re-negotiation of the tax treaty with Mauritius so that India could have access to banking details, besides tax-related information. With a view to prevent generation of black money and stop re-routing of funds through Mauritius, the Finance Ministry has recently asked ...

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  • Posted Date : 12-Apr-2011 , 09:27:40 am | Posted By CASANSAAR

    Amid controversy over leakage of telephonic conversations involving top industrialists, corporate lobbyist Niira Radia and others, the Finance Ministry has asked the DoT to enquire into the conduct of telecom operators and identify individuals involved in it. "DoT (Department of Telecom) will hav...

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  • Posted Date : 06-Apr-2011 , 09:27:14 pm | Posted By CASANSAAR

    Foreign investment in India rose by USD 22.7 billion in the quarter ending December 2010 to USD 628 billion, mainly on account of increase in portfolio investment and FDI. Total foreign fund inflows, including FDI, portfolio investment and external commercial borrowings (ECB), rose to USD 628.6 b...

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  • Posted Date : 02-Apr-2011 , 08:26:47 am | Posted By CASANSAAR

    Relaxing the rules for foreign direct investment (FDI) in the country, the government today decided to permit the issuance of equity to overseas firms against imported capital goods and machinery. Furthermore, the norms for overseas investment in production and developments of seeds have been libera...

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  • Posted Date : 02-Apr-2011 , 08:26:07 am | Posted By CASANSAAR

    Vodafone, the world's largest mobile operator by revenue, is to pay $5 billion in cash to buy out Essar Group from their Indian joint venture and bring an end to their increasingly fractious relationship. Vodafone, which has faced a host of problems since entering the fiercely competitive market ...

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  • Posted Date : 02-Apr-2011 , 08:20:49 am | Posted By CASANSAAR

    Finance minister Pranab Mukherjee on Sunday said the government is talking to political parties to garner support required to push through a bill that allows 49% FDI in the insurance sector. Speaking on the sidelines of an event to commemorate the centenary of Central Bank of India, Mukherjee said:...

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  • Posted Date : 26-Mar-2011 , 10:30:06 pm | Posted By CASANSAAR

    Finance minister Pranab Mukherjee on Friday said that the government will not take an ‘off the cuff’ decision on the contentious issue of allowing FDI in multi-brand retail.         Given the complex nature of the...

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  • Posted Date : 26-Mar-2011 , 10:14:51 pm | Posted By CASANSAAR

    The Government today approved 14 proposals of foreign direct investment (FDI),including that of Mauritius based Ghir Investments, totalling Rs 1,289.85 crore. The Foreign Investment Promotion Board (FIPB), however, deferred decisions on 27 proposals, including that of Essar Capital Hold...

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  • Posted Date : 22-Mar-2011 , 12:15:12 pm | Posted By CASANSAAR

    As per the terms of appointment of Kurien, salary is in the range of minimum of Rs 3 crore to a maximum of Rs 10 crore a year, Wipro said in a filing to the Bombay Stock Exchange. This would include periodic increments, variable pay (based on performance criteria), leave travel allowance, h...

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  • Posted Date : 18-Mar-2011 , 10:37:40 am | Posted By CASANSAAR

    The Finance Ministry today ratified the hike in provident fund deposits for 2010-11 by 1 per cent to 9.5 per cent. A proposal for the hike was sent by the Labour Ministry in February. The move is likely to benefit about 4.71 crore EPFO subscribers on their deposits for 2010-11. ...

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  • Posted Date : 18-Mar-2011 , 10:35:26 am | Posted By CASANSAAR

    The Union Cabinet today approved a long-pending bill, which is aimed at giving statutory power to the pension regulator PFRDA, paving way for introduction of the same in the current session of Parliament. The draft legislation is aimed at upgrading the status of the Pension Fund Reg...

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  • Posted Date : 15-Mar-2011 , 11:28:39 am | Posted By CASANSAAR

    Finding it difficult for Punjab to service rising debt liabilities in future, the Comptroller and Auditor General has asked the state government to restrict borrowings and further restrained it from using borrowed funds for paying past debts. CAG has also asked the Punjab government...

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  • Posted Date : 14-Mar-2011 , 09:36:09 pm | Posted By CASANSAAR

    The government today said the provision of collateral security for getting loans from banks has been waived for SC/ST as part of measures to grant them easier access to credit. "There is no need for collateral security for these sections for getting bank loans," Finance Mi...

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  • Posted Date : 14-Mar-2011 , 09:28:52 pm | Posted By CASANSAAR

    Insurance Regulatory and Development Authority, or Irda, plans to permit insurers to trade in equity futures and options contracts , which will help the companies protect returns from equity-linked products against sharp stock market declines. "The rules will be shaped to allow...

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  • Posted Date : 14-Mar-2011 , 09:25:08 pm | Posted By CASANSAAR

    Concerned over worsening political turmoil in the Middle-East and the impact of rising global crude prices on the domestic economy, the Finance Ministry has suggested the Reserve Bank to focus on steps to contain inflation. An indication to this effect was given by Finance Minister ...

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