he Reserve Bank of India had held discussions with select banks on December 22, 2010 to get an assessment regarding the ground level situation in the microfinance sector in Andhra Pradesh and other States and the need for any interim measures. The banks informed that collections by MFIs in Andhra Pradesh had deteriorated considerably and there were some incipient signs of contagion spreading to other States. Subsequently, IBA based on the feedback received by them from banks had come up with a proposal that there is a need for extending certain relaxations in the restructuring guidelines of RBI for the MFI sector.
Government today cleared the appointment of Anand Sinha , as RBI Deputy Governor in place of Usha Thorat who retired in November last year. The appointment of Sinha, who is Executive Director with the RBI, has been approved by the government, a seni
For the purposes of Empanelment in the panel prepared by Office of C&AG and Bank Branch Auditors’ Panel prepared by ICAI (for which Constitution Certificates as on 1st January are issued every year); no condonation of delay in submission of Form No.
As you are aware, the Securities and Exchange Board of India (SEBI) constituted a Committee to examine issues arising from the ownership and governance of Market Infrastructure Institutions (MIIs) under the Chairmanship of Dr. Bimal Jalan (Former Gov
Convocation (II)-2010 – (17-01-2011) The Convocation for the newly enrolled Members for the period from March, 2010 to August, 2010 will be held as per schedule given below with a view to inculcate a sense of belongingness and attachment with the I
The labour ministry has refused to rethink its decision to pay a higher 9.5% interest rate on employees provident fund corpus this year despite objections raised by the finance ministry. “The decision on interest rate has already been taken,” labour
Government is expected to collect more than Rs 300 crore in taxes from the fourth edition of the Indian Premier League T20 cricket tournament which will begin in April this year. According to sources, the taxes would be obtained as Tax Deducted at So
The Income Tax department here has busted a Rs 150 crore ‘ponzy scheme’ — a fraudulent investment scheme that pays returns to investors through illegal funds — which allegedly duped poor investors from villages and small cities of West Bengal, Oris
Trade unions are up in arms against the reported refusal of the finance ministry to approve and notify an interest rate of 9.5 per cent on provident fund (PF) deposits for 2010-11, as decided by the Employees Provident Fund Organisation (EPFO) truste
It is a challenge for the Reserve Bank to meet demands of economic growth and rein in surging inflationary pressures, governor Duvvuri Subbarao said on Monday , hinting that it will be a tight-rope walk for the central bank on January 25 when it anno
