economic affairs

The Committee on Comprehensive Regulation for Credit Rating Agencies (CRAs), set up by the Department of Economic Affairs, Ministry of Finance under the Chairmanship of Dr. K.P. Krishnan, Joint Secretary (Capital Markets) with representatives from all the financial sector regulators, has felt that prima facie there is no immediate concern about the operations and activities of CRAs in India even in the context of the recent financial crisis. Full Article

The government is planning to tighten norms governing FDI through partly-paid shares, convertible warrants and units issued by venture capital funds (VCFs), as it looks to prevent misuse of these popular instruments. The finance ministry and the department of industrial policy & promotion (DIPP) have decided that the conditions such as sectoral ceilings, minimum-capitalisation and lock-in period governing foreign investment through equity should be applicable to these in.. Full Article

and 15.4.2008-reg I am directed to invite your attention to the above-mentioned subject and to say that, a reference was received from the Ministry of Agriculture Food & Public Distribution to consider extension of export obligation period for those Advance License Holders who had imported raw sugar between 21.9.2004 and 15.4.2008 but had not yet fulfilled their export obligations. Full Article

Based on the recommendations of Foreign Investment Promotion Board (FIPB) in its meeting held on November 20, 2009, Government has approved 17 Proposals of Foreign Direct Investment amounting to Rs. 4551.05 Crore approximately, the largest chunk of which is likely to be invested by a Russian government agency in telecom company Sistema Shyam. Full Article

The finance minister could approve foreign investments of up to Rs 1,200 crore (Rs 12 billion), without going to the Cabinet, if a proposal of the Department of Industrial Policy and Promotion to fast-track clearance of foreign direct investment is accepted. Full Article

It’s the central bank & finance ministry versus commerce over ‘unintended liberalisation’ permitted in February guidelines. Differences have developed between both the Reserve Bank of India (RBI) and the finance ministry and within the government on the impact of Press Notes 2, 3 and 4 issued in February 2009 that significantly relax the guidelines on [...] Full Article