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CBI’s decision not to charge sheet Anil Ambani, Chairman of ADAG Group, in the 2G spectrum scam was today questioned in the Supreme Court by an NGO which alleged that he was making attempts to cover up his involvement by influencing his arrested employees.
Domestic entrepreneurs can now easily access information related to global micro, small and medium enterprises, their products and technologies on the website launched by National Small Industries Corporation (NSIC). Unveiling the website, www.msmeintelligence.com , MSME Secretary Uday Kumar Verma said: Non availability of experts, high cost of primary data collection and higher cost of database development are some impediments for MSMEs to gather Market Intelligence.
The Union Cabinet today gave its approval to amend the title of the Inter-State Migrant Workmen (Regulation of Employment and Conditions of Service) Act, 1979 to ‘Inter State Migrant Workers (Regulation of Employment and Conditions of Service) Act, 1979’ by introducing a Bill, namely the Inter-State Migrant Workmen (Regulation of Employment and Conditions of Service) Amendment Bill, 2011 (Appendix-III) (page 6 to 7) in the ensuing session of Parliament.
Union Finance Minister Shri Pranab Mukherjee will meet with the Chief Executive Officers of Public Sector Banks (PSBs) and Financial Institutions tomorrow in the national capital. During the meeting, the Finance Minister will do the annual review of Public Sector Banks’ performance in different sectors including flow of agriculture credit, Micro, Small and Medium Enterprises (MSMEs) credit, disbursement of housing loans and education loans among others.
The Union Cabinet in its meeting today has approved the proposal of the Ministry of Information and Broadcasting to approve of the ‘Policy Guidelines on Expansion of FM radio broadcasting services through private agencies (Phase-Ill)’. Cabinet has also cleared the proposal of the Ministry for conducting ascending e-auction, as followed by Department of Telecommunications for the auction of 3G and BWA spectrum, mutatis-mutandis, for award of license of FM Channels, as recommended by the GoM on Licensing Methodology for FM Phase-Ill.
The Central Bureau of Investigation has registered a case u/s 120B IPC r/w 420 IPC and 13(2) r/w 13(1)(d) of P.C. Act 1988 against the then Additional Central Provident Fund Commissioner and other 8 then officers of EPFO Delhi who had entered into a criminal conspiracy with Managing Directors, two Director & one General Manager, HR of Delhi based private firm. In pursuance to this criminal conspiracy the accused allegedly created false records in respect of certain employees engaged, inflated the number of excluded employees, manipulated the period of engagement of employees and thereby manipulated the amount of Provident Fund liability which was due and payable by the said private firm.
The Union Finance Minister Shri Pranab Mukherjee said that during the global financial crisis of 2008, our GDP growth rate lowered to 6.8 per cent in 2008-09 but the economy rallied back with an 8 per cent growth in 2009-10. Shri Mukherjee said that the overall GDP growth in 2010-11 was estimated at 8.5 per cent and there is no reason why this momentum cannot be maintained in fiscal 2011-12 and improved further in the coming years.
Leading credit information company, CIBIL, on Wednesday launched Credit Information Reports for companies to help them access the system data before they go for raising a loan or other financial dealings. Till now, Credit Information Bureau India (CIBIL) shared data regarding a company’s financial history (loans drawn earlier, repayment history, etc) with banks which helped latter assessing the risk associated with a company before lending.
In a major exercise to boost its profitability, the Department of Posts (DoP) plans to introduce core banking solution besides setting up India Post ATMs and debit cards for its customers. We have set target of bringing in core banking solution by 2012. It will ensure smooth online transactions. We are giving some e-payment services, but they are fragmented, a top offical from Department of Post said.
A Committee to Review Implementation of Informal Sector Pension was constituted under the Chairmanship of Shri G N Bajpai former Chairman, SEBI, LIC and also member of PFRDA NPS Trust. The Committee has submitted its report on 1st July, 2011. The report is accessible on http://pfrda.org.in/indexmain.asp?linkid=180. Pension Fund Regulatory and Development Authority( PFRDA) is inviting public comments and stakeholder’s views, before finalizing policy initiatives that require action as per recommendations of the Committee.
