The IRDA had constituted a Committee on Bancassurance vide Order No. IRDA/AGENTS/ORD/02/APR 2009, dated May 4, 2009 to study the distribution of insurance products through Banks. The Committee had invited for comments/views from key stakeholders, insurers, consumer associations, distributors, etc., and after analysis of these views the Committee had submitted their recommendations to the IRDA on 26th May, 2011. Chairman, IRDA had addressed the Governor, Reserve Bank of India for his remarks on the recommendations made by the Committee.
These regulations may be called the Insurance Regulatory and Development Authority (Scheme of Amalgamation and Transfer of General Insurance Business) Regulations, 2011. They shall come into force on the date of their publication in the official Gazette. These Regulations shall apply to all general insurance companies other than wholly owned Government companies which fall within the purview of General Insurance Business (Nationalization) Act, 1972.
CBDT Sets-up a Committee to Examine And Suggest Ways to Recover Income Tax Demand Classified Under the Categories ‘Assessees not Traceable’ and ‘No Assets/Inadequate Assets for Recovery’ In order to examine certain suggestions on Income tax Demand classified under the categories ‘Assessees not traceable’ and ‘No assets/inadequate assets for Recovery’, a Committee has been constituted by the Central Board of Direct Taxes (CBDT) with following constitution
he Central Bureau of Investigation has today arrested a Joint Director of Central Insecticide Board & Registration Committee, Ministry of Agriculture for demanding & accepting a bribe of Rs.40,000/- from the complainant. The complainant, authorized representative of a Hyderabad-based company had approached the Joint Director(Chemistry) of CIB&RC at Faridabad, who demanded Rs.40,000/- as bribe for clearance of pending three files for the issuance of Registration Certificate for the purpose of manufacturing of pesticides.
Notification No 56 (RE – 2010)/2009-2014 Minimum Export Price (MEP) of onions other than Bangalore Rose Onions and Krishnapuram onions will be US$ 200 per Metric Ton F.O.B. It was US$ 170 per Metric Ton as notified on 31.03.2011. There shall be no change in the MEP of Bangalore Rose Onion and Krishnapuram onion which continues to be USD 350 per Metric Ton F.O.B.
In yet another major success in its fight against the problem of smuggling and circulation of Fake Indian Currency Notes into India, the officials of the Directorate of Revenue Intelligence (DRI) seized FICN having face value of Rs.1.54 Crores in what is described as one of the bigg seizures of FICN by any agency in this country.
It has been decided, as precautionary measure, that Food Safety and Standards Authority of India (FSSAI) would test samples of fresh Fruits and Vegetables consignments imported from Europe into India for E.Colli bacteria. FSSAI has directed their Authorised Officers to have the food articles tested for E.Colli bacterial contamination before issuing ‘No Objection Certificate’ to Customs.
) Despite their wealth, 41 per cent of high net-worth individuals (HNWIs) across the globe wish they had more self-control over their investment habits, a report has revealed. The Barclays Wealth Insights series said that a need for increased financial discipline is likely to be felt most by those at the wealthiest end of the scale (10 million-plus pounds), where 45 per cent of respondents wish they had more self-control.
Amid suggestions for opening up of multi-brand retail for foreign investments, finance minister Pranab Mukherjee on Wednesday said discussions were on to further liberalise the FDI policy. ‘Discussions are underway to further liberalise the FDI (foreign direct investment) policy,’ he said at the annual conference of chief commissioners and directors general of Central Board of Excise and Customs ( CBEC )) at New Delhi.
I acknowledge that individuals and organisations have a right to protest peacefully in a democracy. Police give permission for peaceful protest, after taking into account the overall law and order and security situation. For example, permission was given to the BJP to undertake a satyagraha on 5/6.6.2011. Today, permission has been given to Shri Anna Hazare and others to observe a fast from 10.00 a.m. to 6.00 p.m. at Rajghat. Sometimes, permission is refused. Ramlila ground is situated in a sensitive area. Delhi is a huge metropolis and maintaining law and order in Delhi and preventing any kind of disturbance or conflict is a complex task. A small spark can trigger a conflagration. Decisions to grant or refuse permission are taken by the Police authorities.
