Export-Import Bank of India (Exim Bank) has concluded an Agreement dated December 14, 2011 with the Government of the Republic of Congo, making available to the latter, a Line of Credit (LOC) of USD 70 million (USD seventy million) for financing eligible goods, services, machinery and equipments including consultancy services for the purpose of the Rural Electrification Project in the Republic of Congo.
Notification No. 114 (RE-2010)/2009-14 Certain conditions regarding export of cotton have been relaxed for The Cotton Corporation of India Ltd., a Public Sector Undertaking under Ministry of Textiles, during the current cotton season 2011-12.
Notification No. 23/2012-Customs (ADD) In exercise of the powers conferred by sub-section (1) read with sub-section (5) of section 9A of the said Customs Tariff Act, 1975 read with rules 18 and 23 of the Customs Tariff (Identification, Assessment and Collection of Anti-dumping Duty on Dumped Articles and for Determination of Injury) Rules, 1995, the Central Government, on the basis of the aforesaid findings of the designated authority, hereby imposes anti- dumping duty on the goods, the description of which is specified in column (3) of the Table below, falling under heading 5403 of the First Schedule to the said Customs Tariff Act as specified in the corresponding entry in column (2),originating in the country specified in the corresponding entry in column (4), and exported from the country specified in the corresponding entry in column (5) and produced by the producer specified in the corresponding entry in column (6) and exported by the exporter specified in the corresponding entry in column (7), and imported into India, an anti-dumping duty at the rate indicated in the corresponding entry in column (8) of the said Table.
In exercise of the powers conferred by Section 5 of the Foreign Trade (Development & Regulation) Act, 1992 (No.22 of 1992) read with Para 2.1 of the Foreign Trade Policy, 2009-14, the Central Government hereby deletes Para 4 of Notification No. 106 (RE-2010)/2009-14 dated 12.03.2012 with immediate effect to allow further registration of contracts for export of cotton under Tariff Item HS code 5201 & 5203 [ Sl. Nos. 197 & 199 of ITC(HS) Classification of Export & Import Items].
Government Denies Allegations Allegations have been made that the proposal of M/s Global Communication Services Holdings Ltd, Mauritius (a wholly owned subsidiary of M/s Maxis Communications Berhad) to acquire 73.99 per cent equity in M/s Aircel Ltd was delayed by the then Finance Minister in order to benefit certain persons.
The payment of commission to agents of Public Provident Fund (PPF) Scheme and Senior Citizens Savings Scheme has been discontinued, with effect from 1st December, 2011. Commission under all other schemes (except MPKBY Agents) has been reduced from 1% to 0.5%. However, commission to Mahila Pradhan Kshetriya Bachat Yojana (MPKBY) agents will continue at the existing rate of 4%.
