"25 October 2011" Archive

Second Quarter Review of Monetary Policy for 2011-12 Press Statement by Dr. D. Subbarao, Governor

At the outset, on behalf of the Reserve Bank of India, I want to welcome all of you to this Second Quarter Review of Monetary Policy for 2011-12. 2. Earlier this morning, we put out the monetary policy measures accompanying this Review. Based on an assessment of the current macroeconomic situation, we have decided to: […]...

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Posted Under: Fema / RBI |

Second Quarter Review of Monetary Policy 2011-12

From a macroeconomic perspective, the last quarter witnessed significant developments, both globally and domestically. Growth momentum in the US and the euro area economies has weakened. In the euro area, macroeconomic prospects are intimately tied in to its ability to credibly resolve its sovereign debt and financial sector problems. In ...

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Posted Under: Fema / RBI |

Instructions regarding Power of adjudication of Central Excise Officers

Circular No. 957/18/2011-Central Excise 3 25/10/2011

Circular No. 957/18/2011-CX-3, the Board has noticed that the monetary limits for adjudicating cases (both extended period and others), for Joint Commissioners is with regard to cases involving duty– above Rs 5 lakhs and upto Rs 50 lakhs and for Additional Commissioners it is with regard to cases involving duty - above Rs 20 lakhs a...

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NCM to take up with parliamentary committee proposal to tax donations in Direct Tax Code Bill

The National Minority Commission today voiced concern on a proposal in the Direct Tax Code Bill to tax donations for institutions and organisations run by a particular religion or community and is planning to take up the issue with a parliamentary committee examining it. A delegation led by NCM member Keki N Daruwala has sought a meeting ...

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Posted Under: Fema / RBI |

Request for Proposal – Appointment of CA firms For Internal Audit Services of PNB Housing Finance Ltd.

RFP terms and conditions 1. Project Objective The Company wishes to appoint a competent internal audit firm to frame a Risk based Internal Audit Model & perform internal audit services for the Company in a co-sourcing model. The objective of the audit is as below: Provide recommendation for set up of organizational structure for Inter...

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Posted Under: Fema / RBI |

Empanelment with RailTel Corporation of India Ltd. for Appointment of Internal Auditors

RailTel Corporation of India Ltd invites offers for Appointment of Internal Auditors for its Corporate Office at Delhi and its branch offices at Mumbai, Kolkata, Hyderabad and Delhi from firms of Chartered Accountants empanelled with Comptroller and Auditor General of India for the second half year of F.Y.2011-2012 and further extendable ...

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Posted Under: Fema / RBI |

RBI deregulated savings bank deposit interest rate with immediate effect

RBI/2011-12/233 DBOD.Dir.BC. 42/13.03.00/2011-12 25/10/2011

In its Monetary Policy declared on 25.10.2011 RBI has deregulated interest rates on Savings bank accounts. Currently, banks pay interest rate of 4% on the savings bank accounts. Post this deregulation, the interest rates on Savings bank accounts bound to move up. This can have quite serious implications on the profitability of the bankin...

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RBI increases Repo, Reverse Repo and Marginal Standing Facility Rates by 25 bps under Liquidity Adjustment Facility

RBI/2011-2012/231 FMD.MOAG. No.64/01.01.01/2011-12 25/10/2011

As announced today by the Governor in the Second Quarter Review of the Monetary Policy 2011-12, it has been decided to increase the repo rate under the Liquidity Adjustment Facility (LAF) by 25 basis points from 8.25 per cent to 8.50 per cent with immediate effect....

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RBI increases repo rate under the Liquidity Adjustment Facility (LAF) by 25 basis points to 8.50 per cent

RBI/2011-12/232 MPD.BC. 350/07.01.279/2011-12 25/10/2011

Please refer to the Second Quarter Review of Monetary Policy 2011-12 on October 25, 2011, in terms of which the repo rate under the Liquidity Adjustment Facility (LAF) has been increased by 25 basis points from 8.25 per cent to 8.50 per cent with immediate effect....

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Monetary Policy Announcements would help in getting us back to a more Comfortable Inflation Situation soon – FM

The Union Finance Minister Shri Pranab Mukherjee has said that the today’s monetary policy announcement by Reserve Bank of India (RBI) would help in getting us back to a more comfortable inflation situation soon while leaving scope for growth to pick up in the second half of current fiscal year. The Finance Minister Shri Mukherjee was r...

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Posted Under: Fema / RBI |

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