The Authority proposes to come out with the Guidelines on Distance Marketing and Sale of Insurance Products to streamline the manner of sale of insurance products and to address some of the issues which are specific to protection of interests of policyholders buying insurance over distance modes such as telephone and the internet.
To control costs and reduce mis-selling of mutual funds, the Securities and Exchange Board of India’s Mutual Fund Advisory Committee (MFAC) has recommended several measures. The recommendations, if implemented, would lead to further transparency in the functioning of fund houses.
The central board of the Reserve Bank of India (RBI) has approved the proposal to hire specialists from outside — the first such move in the bank’s 75-year history. The first batch is likely to join the department of information and technology.
the goods are used in the manufacture of Ballistic grade aramid fabric required for the manufacture of bullet proof jackets for supply to the armed forces of the Union under the Ministry of Defence or the Police Forces of the States or the Union- territories;
With more SEZs becoming operational, the Centre will consider on June 8 framing rules that would allow migration of units from one special economic zone to the other. As of now there is no specific provision for transfer of a unit from one SEZ to the other.
Corporate houses seeking banking licences will come under the scrutiny of both the Reserve Bank of India and the finance ministry, which are keen to restrict the entry of players involved in dubious transactions. The books and accounts of all group companies will be examined before granting the new banking licences, proposed by the finance minister in the Union budget, said a finance ministry official privy to the deliberations on the subject.
a) the goods are imported by a manufacturer for use in the manufacture of Ballistic grade aramid fabric; (b) the procedure laid down in the Customs (Import of Goods at concessional Rate of Duty for Manufacture of Excisable Goods) Rules, 1996 is followed while importing the goods;and
Majority of Indian companies feel tax incentives from the government are needed to accelerate adoption of energy-efficient business practices, according to a survey.According to the survey by workspace solutions provider Regus, though India has been criticised for its high emission levels, around 30 per cent companies here monitor their carbon footprint.
The Greek tragedy has opened our eyes to many things. No one can any longer mock the critics of high fiscal deficits. Not only was the fiscal deficit of Greece high but that there were attempts to manipulate the numbers to hide the reality. It took a long time before this could be uncovered.
In a fresh move, the Finance Ministry today said income tax payers will have to mention receipt number of tax deducted at source (TDS) forms in the returns to claim refunds, from this fiscal. Tax payers will have to mention this number along with his permanent account number (PAN) and Tax-deduction Account Number (TAN) of the deductor, otherwise refunds may not be considered.
