Financial News India: Read all the latest finance news on credit card, online payment, bank loan interest rate, scams, GDP growth Inflation, Saving schemes, PPF, NSC, KVP Bank, FD calculators ULIP IIP numbers
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Total import of sensitive items for the period April-March 2011 has been Rs. 70656 crores as compared to Rs. 65565 crores during the corresponding period of last year thereby showing an increase of 7.8%. The gross import of all commodities during same period of current year was Rs. 1596869 crores as compared to Rs. 1363736 crores during the same period of last year. Thus import of sensitive items constitutes 4.8% and 4.4% of the gross imports during last year and current year respectively.
The 195th meeting of the Central Board of Trustees, Employees’ Provident Fund, which was the twelveth regular meeting of the present Board, was convened at a short notice in New Delhi on Thursday. The Board approved the selection and appointment of the four new fund managers for managing the EPF corpus for a period of three years effective from 01.09.2011. The State Bank of India would continue as fund manager of EPF corpus till 31.08.2011.
In order to promote the new symbol of Rupee i.e. the same has been encoded in Unicode Standard and National Standard ISCII. The new symbol has also been placed on the keyboard and by pressing ‘Alt Gr’ + ‘4’ keys together it can be typed. Detailed information is hosted on TDIL Centre (http://tdil-dc.in/) for the benefit of the users at large.
Ministry of Social Justice & Empowerment implementing a Scheme of Assistance for Prevention of Alcoholism and Substance (Drugs) Abuse for the ‘Whole Person Recovery’ of the addicts as part of our community based intervention and treatment strategy. The is the flagship scheme of Ministry in the field of drug demand deduction. The scope of the scheme includes awareness, early intervention, treatment and rehabilitation to ensure reintegration of the addicts into the social mainstream.
The Government of India will host the 14th Annual Meeting and 10th Annual Technical Assistance and Training Forum of the Asia/Pacific Group (APG) on Money Laundering at the Le Meridien Hotel, Kochi (Cochin), Kerala, India, from 18th to 22nd July 2011. The Union Finance Minister Shri Pranab Mukherjee would make the opening address on 19th July,2011 .
A committee has recommended a host of tax incentives like exemption from customs duty, central excise and service tax to revamp the 30-year old Export Oriented Unit (EOU) scheme. After expiry of tax benefits for the EOUs, the government in February has set up a committee under the chairmanship of Development Commissioner, Noida SEZ, to revamp the scheme in sync with the changing business environment and gel with the Special Economic Zones.
Union Finance Minister Shri Pranab Mukherjee said that inflation figures reported for the month of June 2011 continues to be matter of concern. The Finance Minister said that we are monitoring the price situation closely. He said that Government is working together with RBI to take appropriate steps to reduce inflation to more comfortable level. Shri Mukherjee was reacting to the figures of headline WPI inflation for the month of June, 2011 which were released today. The WPI inflation for the month of June 2011 stood at 9.44% as against 9.06% in May 2011 and 9.74% in April 2011.
A bank is bound to inform the consumer well in advance before blocking his credit card, a district consumer forum has held while directing the ICICI bank to pay a compensation of Rs 50,000 to its client for not doing so and putting him in an embarrassing situation. A District Consumer Disputes Redressal Forum bench presided by V K Gupta held ICICI bank guilty of deficiency in service and also criticised the private bank for misbehaviour of its staff with the consumer.
The Ministry of Finance has decided to extend the terms of reference of the Task force which was constituted under the Chairmanship of Shri Nandan Nilekani, Chairman, Unique Identification Authority of India (UIDAI) to recommend and implement a solution for direct transfer of subsidies on Kerosene, LPG and Fertilizer to the intended beneficiaries. A Memorandum to this effect was issued by the Department of Expenditure, Ministry of Finance today.
The Prime Minister has written to the President recommending that the following may be appointed as members of the Union Council of Ministers and has requested that the oath of office and secrecy be administered at 5.00pm today. CABINET MINISTERS :1. Shri V. Kishore Chandra Deo 2. Shri Beni Prasad Verma 3. Shri Dinesh Trivedi 4. Shri Jairam Ramesh
