"19 March 2010" Archive - Page 4

Government likely to provide more incentives to labour-intensive sectors

The government is likely to provide more incentives to labour-intensive sectors such as textiles, leather and engineering goods that were affected badly by the global slump in demand. "I have taken it (for some more sops like interest subsidy) up with the Finance Minister... he (Pranab Mukherjee has shown great understanding and sensitiv...

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Posted Under: Finance |

Endowment plans and money-back policies which one to choose

Plans that return money during the policy tenure are money-back policies. These plans, usually, give a fixed percentage of the sum assured periodically. In a 15-year policy and sum assured of Rs 10 lakh cover, these plans could give 10 per cent of the sum assured on completion of three years, 15 per cent after six years and so on....

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Posted Under: Finance |

Banks asked to disclose more info on their depositors, borrowers, NPA accounts and SPV sponsored by them

The Reserve bank of India has asked banks to reveal more information on their market operations, including data related to top 20 depositors, 20 largest borrowers, exposure to four largest non-performing accounts and special purpose vehicles sponsored by them, for the current fiscal.This, officials said, was to ensure the industry followe...

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Posted Under: Finance | ,

Many Government companies not submitted their financial statements with ROC for as long as 26 Years

The corporate affairs ministry has decided to act tough with public sector undertakings (PSUs) that have not prepared and submitted their financial statements with the registrar of companies. As many as 658 state-run PSUs have piled up 2,539 accounts, with some pending for as long as 26 years....

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Posted Under: Finance |

Banks may be given extension of one year for adoption of IFRS

There is relief in store for Indian banks. The deadline to implement the International Financial Reporting Standards (IFRS) looks set to be extended to April 2012 from April 2011 for banking companies. It is learnt that banks may get more time to implement IFRS. The deadline for Indian companies is April 2011. However, the deadline for ba...

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Posted Under: Finance |

ICAI looking to bar firm whose partner found guilty of Auditing fraund or Negligence

The Indian accounting sector regulator wants the government to bring in a provision to bar tainted firms from taking up any new assignments for a specific period. The move by the Institute of Chartered Accountants of India (ICAI) is the latest in its undeclared but continuing tiff with the Big Four foreign accounting and audit firms that ...

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Posted Under: Finance | ,

Banking facilities to be provided by March 2012 to habitations having population in excess of 2000

In July, 2009, a total of 129 un-banked blocks were identified in the country. As a result of the concerted efforts made by the Government, Reserve Bank of India (RBI) and the Banks in providing banking facilities in the un-banked blocks, the number of such blocks has come down to 93 in February, 2010....

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Posted Under: Finance |

Notification imposing Anti-Dumping duty on export made to India by M/s. Kodak (China PR) Graphic Communications Company Ltd.

Notification No. 35/2010-Customs 19/03/2010

NOTIFICATION No. 35/2010-CUSTOMS-M/s. Kodak (China PR) Graphic Communications Company Ltd., (Producer / Exporter from China PR) has requested for review in terms of rule 22 of the Customs Tariff (Identification, Assessment and Collection of Anti-dumping Duty on Dumped Articles and for Determination of Injury) Rules, 1995 in respect of ex...

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Standing Liquidity Facilities for Banks and Primary Dealers

RBI/2009-10/353, REF.No.MPD.BC. 328 /07.01.279/2009-10 19/03/2010

Please refer to the Reserve Bank’s Press Release 2009-10/1263 dated March 19, 2010, in terms of which the fixed repo rate under the Liquidity Adjustment Facility (LAF) has been increased by 25 basis points from 4.75 per cent to 5.0 per cent with immediate effect....

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Notification No. 13/2010-Central Excise (N.T); Dated: 19.03.2010

Notification No. 13/2010-Central Excise (N.T.) 19/03/2010

In exercise of the powers conferred by sub-rule (2) of rule 3 of the Central Excise Rules, 2002, the Central Board of Excise and Customs hereby makes the following further amendment in the notification of the Government of India in the Ministry of Finance (Department of Revenue) number 14/2002-Central Excise (N.T.), dated the 8th March, 2...

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