"26 November 2010" Archive

RBI will examine the modus operandi of the alleged bribes-for-loans in Housing Finance Scam

The Reserve Bank of India (RBI) will begin examining the modus operandi of the alleged bribes-for-loans allegations made by the Central Bureau of Investigation (CBI) against officials of three banks, Life Insurance Corporation of India (LIC), and a f...

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Posted Under: Fema / RBI | ,

Sebi probes insider-trading in shares of cos party to Housing-Finance scam

Market watchdog Sebi has initiated a probe into possible front-running and insider trading in shares of over two dozen companies, including some blue chips, by entities and persons involved in the housing-finance scam unearthed by CBI. The initial f...

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Posted Under: Fema / RBI |

Direct tax arrears touch Rs 2.49 Lakh crore

Direct tax arrears touched a staggering Rs 2.49 lakh crore last fiscal, and of this, an amount of Rs 1.43 lakh crore is seen to be difficult to recover. The tax arrears are tax demand raised by the revenue department but not realised along with the a...

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Posted Under: Fema / RBI |

ED working in coordination with Income Tax Department for their probe into the overlays contracts award in CWG Scam

The Enforcement Directorate is working in close coordination with the Income Tax Department for their probe into the overlays contracts award ED during the Commonwealth Games and may soon summon the firms concerned. According to official sources, the...

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Posted Under: Fema / RBI |

Railway Minister demands extension for waiver of service tax on railway freight

Railway Minister Mamata Banerjee has sought an extension for the waiver on service tax on railway freight. Finance Minister Pranab Mukherjee had earlier given a tax holiday to the Railways till December 31. Banerjee now wants the tax relief extended ...

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Posted Under: Fema / RBI |

Exchange Rate notification for Import / Export of goods with effect from 1st December, 2010

Notification No. 98/2010-CUSTOMS (N.T.) (26/11/2010)

S.O. (E). – In exercise of the powers conferred by section 14 of the Customs Act, 1962 (52 of 1962), and in suppression of the notification of the Government of India in the Ministry of Finance (Department of Revenue) No. 91/2010-Customs (N.T.), dated the 27th October, 2010 vide number S.O.2657 (E), dated the 27th October, 2010, exce...

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Money Matter Scam- Property valuers under CBI Radar

The Central Bureau of Investigation (CBI) is probing the role of property valuers in the cash-for-loans scam. Developers acquire loans for projects the value of their property mortgaged to banks. Property valuers, that are often realty firms, play a ...

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Posted Under: Fema / RBI |

Constitutional amendment will not be discussed at next meet of State FM

The vexed issue of amending the Constitution for rolling out the new Goods and Services Tax (GST) may not come up in the next meeting of the Empowered Committee (EC) of state finance ministers on December 6 here....

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Posted Under: Fema / RBI |

Assocham demands 50-100 new private banking licences

Taking all stakeholders by surprise, industry body Assocham today suggested that the Reserve Bank of India (RBI) issue between 50-100 new private bank licences in the current round of allowing new entrants....

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Posted Under: Fema / RBI |

NRIs can now vote, Govt issues notification

A longstanding wish of millions of NRIs for voting right in India has come true with the Centre issuing a notification to this effect to enable them to exercise their franchise. Parliament had in the monsoon session passed the Representation of Peopl...

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Posted Under: Fema / RBI |
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