The Finance Ministry has pitched for lifting curbs on wheat exports so that India could take advantage of the crop’s scarcity in the global market due to production loss in countries like Russia and Pakistan. India could make use of the global scarci
It has come to our notice that, certain Overseas Entities who are authorized by the Reserve Bank of India, under the Payment and Settlement System Act, 2007, to operate in-bound cross border money transfer services through agents appointed in India, have been insisting on “exclusivity” arrangements with their agents for rendering such services in India. […]
It is true that even now people repose so much confidence on the High Court or the Supreme Court and we know the reputation of many judges as independent, knowledgeable and courageous. Professionals connected with the judiciary know the reputation of a judge and if there is some corruption, then, definitely, they will know the allegations of corruption or even the corruption. With the change of adoption of methods in the corruption practice, now, it has become very difficult to find proof or establish the corruption charges on a High Judge or a Supreme Court Judge.
Dr. Manmohan Singh, Prime Minister of India, reviewed the progress towards Financial Inclusion by banks in India with Dr. D. Subbarao, Governor, Reserve Bank of India, and Shri R. Gopalan, Secretary (Financial Services). Deputy Governors RBI, Mrs. U
The Reserve Bank’s First Quarter Review of Monetary Policy on July 27, 2010 expressed concerns over the global outlook. Indicators of economic activity in advanced economies continue to suggest that the recovery is slowing and that the second half of
Ministry has undertaken a massive drive to cleanse the MCA21 Registry, as it was found that a number of companies who were in the old Registry are not filing their documents in the MCA21 system. Accordingly, computer generated Show-cause Notices were
The Pay and Accounts Office (PAO)/ District Treasury Office (DTO)/ Cheque Drawing and Disbursing Office (CDDO) are required to file Form 24G as per Income-tax Department Notification no. 41/2010 dated May 31, 2010. In case of an office of the Government, where tax has been paid to the credit of Central Government without the production of a challan associated with deposit of the tax in a bank, the PAO / CDDO / DTO or an equivalent office (herein after called as AO in this document) government is required to file Form 24G.
With Rs 40,000 crore going out of the banking system due to advance tax payments, the cost of funds, in the short-term money market, will operate close to the repo rate (6%) — the rate at which the Reserve Bank of India (RBI) makes available overnight funds to banks. Tax outflows have led to a marked cash crunch in the system. On Friday, banks borrowed Rs 42,290 crore from RBI through its repo window. This borrowing is reflective of the fund shortage in the system.
Realty firms and property consultants today said both consumers and developers are likely to be affected by the hike in key policy rates by RBI as loans would become dearer, though the impact would be marginal.
A trust floated by the State’s transport department to hold pension funds under a scheme launched in 2000, has been reduced to a dud affecting over 34,000 pensioners. The reason: The trust failed to get income tax exemption from the Central Board of
