"January, 2010" Archive - Page 3

NBFCs can’t be put under purview of Money laundering Act: Gujarat HC

An attempt by the state government to regulate non-banking financial companies (NBFCs) operating in the state failed when justice Jayant Patel of the Gujarat high court ruled that NBFCs can’t be put under the purview of the Money laundering act (ML Act). The judgment is significant in the present scenario as scores of NBFCs in the state...

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Posted Under: Finance |

Interest rate on home loans may remain unchanged

Interest rates may remain soft even if the central bank were to withdraw its accommodating stance and tighten monetary policy, which will be reviewed on Friday. The good news for home loan borrowers is that retail loans are the only form of credit showing some decent growth and bankers are unlikely to jeopardise this demand by raising rat...

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Posted Under: Finance | ,

Government likely to extended Interest subvention scheme for exporters till December 2010

The government is likely to extend the 2 per cent interest subsidy given to exporters on rupee export credit from March 31 to December 2010. The announcement is expected in the upcoming Budget. Although India's exports have started growing again after several months of decline, commerce ministry sources told that the extension is being c...

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Posted Under: Finance |

Former Satyam chief declared 'pauper' in US court

Ramalinga Raju, former chairman of Satyam Computers, who last year confessed to have inflated his company's assets by over $ 1 billion, was declared a pauper by a court here exempting him from paying court costs. New York judge Barabara S Jones approved 'pauper' status for Raju, his brother Rama Raju, Satyam's former chief executive offi...

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Posted Under: Finance |

Exim Bank’s Line of Credit to Government of the United Republic of Tanzania

RBI/2009-10/294, A.P. (DIR Series) Circular No.29 28/01/2010

Export-Import Bank of India (Exim Bank) has concluded an Agreement dated May 28, 2009 with the Government of the United Republic of Tanzania making available to the latter, a Line of Credit (LOC) of USD 40 million (USD forty million only) for financing eligible goods and services including consultancy services from India for the purpose o...

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PPPAC approves PPP Projects worth Rs. 4120.29 crores

The Thirtieth PPPAC meeting, chaired by Finance Secretary, met on January 6, 2010 and granted approval to 4 projects of Ministry of Shipping. These projects are in 3 States. The estimated project cost of the approved projects is Rs. 4120.29 crore. Since its constitution in January 2006, PPPAC has granted approval to 141 projects, with ...

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Posted Under: Finance |

Committee on Comprehensive Regulation for Credit Rating Agencies suggests Strengthening of Existing Regulations

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...

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Posted Under: Finance |

Coaching classes for CA students not permissible between 9.30 a.m. and 5.30 p.m

Attention of the members is drawn to Announcements dated 27th March 2009 and 19th May 2009 hosted on website of the Institute wherein the decision of the Council with regard to, inter-alia, working hours and coaching hours have been notified. Normal working hours for the articled assistants shall not start after 11.00 AM and not end befo...

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Posted Under: Finance | ,

ICAI postponed the result of PE–II, PCE and IPCE examination held in November, 2009

The results of the Chartered Accountants Professional Education (Examination-II), Professional Competence Examination and Integrated Professional Competence Examination held in November, 2009 scheduled to be announced on 29th January, 2010 will now be announced on 1st February, 2010....

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Posted Under: Finance | ,

Due Date for MVAT audit in form 704 for financial year 2008-09 extended to 31st March 2010

Trade Circular No. 5 T of 2010 28/01/2010

Representations from various Trades and Associations have been received with a request to extend the due date for submission of Audit Report in Form-704 for the year 2008-09. The Finance Department, Government of Maharashtra has examined and considered aforesaid representations. Accordingly, it has been decided to extend the due date for ...

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