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Finance : This guide explains why senior travellers should review travel insurance coverage, organise medical records, and plan ahead before...
Finance : The article explains how local Indian phone numbers enhance credibility and accessibility for international businesses. It highlig...
Finance : The article explains how borrowing within your affordability and understanding total loan costs can make loan management easier. I...
Finance : The article examines how ATMs are facing cash shortages even though currency circulation is at an all-time high. It argues that ba...
Finance : mployers are increasingly migrating retirement savings from superannuation trusts to NPS due to lower costs, greater flexibility, ...
Finance : The Government has exempted interest and capital gains earned by FPIs on Government securities from income tax with effect from 1 ...
Finance : The Ministry of Finance has introduced a unified portal to help individuals search for unclaimed bank deposits, insurance claims, ...
Finance : The IFSCA clarified that retrocession and retention requirements apply to the entire gross reinsurance premium of IFSC Insurance O...
Finance : The authority observed that except life insurance, other insurance segments under IFSCA regulations align with the statutory defin...
Finance : The Ministry of Finance clarified that claims regarding monetisation of temple gold holdings or issuance of gold bonds to temples ...
Finance : The Supreme Court ruled that vicarious liability under the NI Act cannot arise solely from holding an office in a society or compa...
Finance : The Supreme Court refused relief to borrowers who defaulted from the very first instalment after availing an ₹8.09 crore loan. T...
Finance : The Supreme Court upheld a Will executed in favour of the testator’s sister despite objections from his wife and children. The C...
Finance : The Supreme Court held that insolvency proceedings under the IBC cannot be invoked merely to recover disputed dues arising from co...
Finance : The issue was whether indemnity obligations arise only after final appellate confirmation. The Supreme Court held that liability a...
Finance : IFSCA clarified that a common brand name by itself is sufficient to establish a Group Entity relationship under the ship leasing f...
Finance : IFSCA has consolidated multiple regulations and circulars into a single Master Circular for Stock Exchanges and Clearing Corporati...
Finance : IFSCA has introduced a standardized ACAR and ACAC reporting framework for Capital Market Intermediaries in IFSCs. The circular aim...
Finance : IFSCA has warned regulated entities that advanced AI models can accelerate cyberattacks by rapidly identifying and exploiting vuln...
Finance : The International Financial Services Centres Authority clarified that existing ASPs and TechFin entities continuing operations und...
Mauritius Treaty – A Joint Working Group (JWG) was constituted in 2006 for the purpose of renegotiating the Direct Taxation Avoidance Convention with Mauritius and its last meeting was held in 2008. Thereafter, India has successfully used the mechanism of the Peer Review Group (PRG) of the Global Forum for Transparency and Exchange of Information for Tax Purposes – of which India is Vice Chair – to leverage arguments with the Mauritian side to be more open in furnishing tax related information to India.
Government of India has evolved a Scheme named Rajiv Gandhi Adhivakta Prashikshan Yojna (Rajiv Gandhi Advocate’s Training Scheme) to be launched on 27 June, 2011. The Scheme envisages selection of 10 young practicing Advocates from each State every year for being imparted professional training. This initiative is in sync with the Supreme Court directive in the case of State of Maharashtra vs Manubhai Pragaji Vashi (1995) 5 SCC 730 where the Court had observed that continuing and well organised legal education is absolutely essential reckoning the new trends in the world order and to meet the ever-growing challenges.
About 47.5 lakh domestic helps would soon get medical insurance benefits under the Rashtriya Swasthya Bima Yojana (RSBY) with the Union Cabinet approving the proposal on Thursday. The scheme, which envisages smart card-based cashless health insurance cover of up to Rs. 30,000 under any empanelled hospital anywhere in the country, was approved by the Cabinet at a meeting chaired by Prime Minister Manmohan Singh.
India joined the Financial Action Task Force (FATF) as its 34th member in June 2010. At present FATF has 36 members comprising of 34 countries and two organizations namely, the European Union and the Gulf Cooperation Council. At the time of joining FATF, India gave an Action Plan to overcome certain deficiencies in a time bound manner.
The UAE has no plans to raise the 49 per cent foreign ownership cap for companies, a senior economy ministry official has said. Economy Ministry Undersecretary Mohammed Al Shihhi”s statement has dashed hopes of a company law that would allow overseas investors to fully own firms outside of the country”s free zones.
Fraudsters go undetected for a longer duration in Asia, with a survey revealing that frauds in the region sometimes do not come into the light for ten years or more. In Asia, it takes longer to detect frauds than any other region in the world, says a global consultancy KPMG report, released today.
The Finance Minister Shri Pranab Mukherjee has said that a robust comprehensive and transparent accounting system is a must for any government. He was inaugurating a day- long national conference of the State Finance Ministers on ‘Accrual Based Financial Reporting in Government’, here today. Shri Mukherjee stated that accrual based financial reporting in the Government is an important initiative in the reform of the system of accounts and financial reporting in the public domain.
Emphasising on the need to boost growth in the manufacturing sector, Bharat Forge Chairman and Managing Director Baba Kalyani today expressed hope that the soon-to-be-announced manufacturing policy would give an impetus to the sector.
The CAG guidelines for a new government accounting system aimed at improving transparency and fixing the accountability of departments for managing state-owned assets will be unveiled on Tuesday. In line with the recommendations of the 12th and 13th Finance Commissions and the second Administrative Reforms Commission, the operational guidelines suggest shifting from the present cash-based accounting system to an accrual basis of accounting.
The Union Finance Minister Shri Pranab Mukherjee will inaugurate a national conference of the State Finance Ministers here tomorrow. The day-long conference, which includes participation from all stakeholders from Union and State Governments, aims to trigger discussions on operational guidelines for conceptualizing ‘General Purpose Financial Reporting’ under accrual based accounting system. Secretaries to the Government of India, State Finance Secretaries, Financial Advisors from key ministries and State Accountant Generals will participate.
