"October, 2010" Archive - Page 31

RBI may relax conditions related to grant of Banking License to groups having exposure to Reality sector

The Reserve Bank of India (RBI) may have to go easy on its suggestion of not granting new banking licences to those groups which have exposure to the real estate sector. The central bank had in a discussion paper indicated that the groups with real e...

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Posted Under: Fema / RBI | ,

1.52 Crore seized from Mumbai-bound bus -The Unaccounted Money Was Being Sent via Courier

The Pune rural police on Wednesday seized Rs 1.52 crore as well as 356 gm of gold ornaments worth Rs 1.58 lakh from two bags in the hold of a Mumbai-bound luxury bus. The unaccounted for money and ornaments, which were loaded into the bus at Ichalkar...

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Posted Under: Fema / RBI |

Government removes the limit on the number of employment visas that may be granted to the foreign nationals

The Ministry of Home Affairs (‘MHA’), Government of India had in August, 2010 clarified that the number of employment visas that may be granted to foreign nationals employed in sectors other than the IT Software and IT enabled Services sector (‘IT Se...

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Posted Under: Fema / RBI |

Summary of Discussion paper on FDI in LLP

01/01/1970

This article summarizes the Discussion Paper (DP) released on 28 September 2010 on 'Foreign Direct Investment in Limited Liability Partnerships' issued by the Department of Industrial Policy & Promotion (DIPP) of the Government of India (Gol). Even t...

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Posted Under: Fema / RBI |

Commerce Department wants MAT on SEZ to be lowered

The commerce department will push for lowering of the minimum alternate tax (MAT) proposed in the direct taxes code (DTC) Bill on units in special economic zones (SEZs) as it believes that it would not be viable for units to pay such high taxes. The ...

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Posted Under: Fema / RBI |

Competition Commission of India to hear petition made by third-party administrators

The Competition Commission of India (CCI) has set October 13 as the date for the hearing of the petition made by third-party administrators - intermediaries which manage health insurance claims. TPAs had moved the competition commission and Irda to b...

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Posted Under: Fema / RBI |

CBI starts investigation in alleged fraud in loans worth Rs 2,500 crore disbursed to Zoom Developers

The Central Bureau of Investigation (CBI) has begun preliminary examination of allegations of banking fraud in loans worth Rs 2,500 crore disbursed to Zoom Developers, a Mumbai-based project developer. Confirming the approach made by CBI, two senior ...

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Posted Under: Fema / RBI |

Government of Switzerland would be ready to reveal the names and bank account details of Indians

The government of Switzerland would be ready to reveal the names and bank account details of Indians who have stashed away billions of dollars of black money in Swiss banks once the Indian Parliament ratifies the revised Double Taxation Avoidance Ag...

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Posted Under: Fema / RBI |

India and Mozambique sign Double Taxation Agreement (DTA)

On September 30, India and Mozambique signed a Double Taxation Agreement (DTA) alongside two others which also supported economic co-operation: one regarding mineral resources, the other small and medium sized enterprises....

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Posted Under: Fema / RBI |

RBI forms group to review operation of monetary policy

The Reserve Bank has constituted a working group to review the current operating procedure of monetary policy, as transmission of the policy to the rest of the system remains imperfect. The group, to be headed by RBI executive director Deepak Mohanty...

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Posted Under: Fema / RBI | ,

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