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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Finance : Explore the International Financial Services Centres Authority (IFSCA) Regulations 2024, governing payment and settlement systems ...
The International Accounting Standards Board (IASB) has issued Exposure Draft of Limited Exemption from Comparative IFRS 7 Disclosures for First-time Adopters: Proposed amendment to IFRS 1 so as to amend Appendix E of IFRS 1 to include transition provisions for first-time adopters consistent with the transition provisions in paragraph 44G of IFRS 7 Financial Instruments: Disclosures.
Dubai, home to the world’s tallest tower and the biggest man-made islands, is in a financial crisis. The dream city, where lakhs of expat Indians make a living, is trying to salvage Dubai World, the emirate’s flagship in the industrial world, which is struggling to pay back a $ 59 billion loan (around Rs 275,000 crore).
No single corporate client or group should account for more than a tenth of the total revenues of any audit firm and its associates, a committee on corporate governance set up by industry body Confederation of Indian Industry (CII) has recommended to the government.
British newspaper The Independent reported that the banks include HSBC, Royal Bank of Scotland, Lloyds Banking Group, and Standard Chartered. The banks’ total loans to Dubai World exceeds US$ 30 billion.
When the market started and I was listening CNBC TV Suddenly around 11 am Udayan Mukherjee of CNBC TV jumped of his seat and shocked to find the GDP numbers of India. Within few minutes India was into a roller coaster ride. July-Sept GDP up 7.9%. Economist and all market speculators are having their eyes coming out of shock. Before I get into further analysis just a quick look into the break up of India GDP figures.
Zero interest rates of US and low interest rates of other countries made cheap money to flow like water coming out of a fountain. All these cheap money founded BRIC economies assets at cheap valuations giving them enough scope to generate healthy ROI.
India will stick to its earlier announced deadline for convergence with the International Financial Reporting Standards (IFRS) by April 2011, a top Government official has said. “Let me make it very clear that India is a signatory to accept IFRS.By accept, I mean convergence to IFRS by April 2011 and not adoption.
Asserting that there is no need to press the panic button, Finance Minister Pranab Mukherjee today said the Dubai debt crisis will not have “earth shaking” impact on the country’s economy. “The full impact of the Dubai debt crisis is yet to be assessed, but there is no need to press the panic button,” Mukherjee told reporters.
The prospectus of any insurance product should state the scope of benefits, the extent of insurance cover and in an explicit manner explain the warranties, exceptions and conditions of the insurance cover and, whether the product is participating (with-profits) or non-participating (without-profits). The allowable rider or riders on the product shall be clearly spelt out with regard to their scope of benefits, and in no case, the premium relatable to all the riders put together shall exceed 30% of the premium of the main product.
Life Insurance provides risk cover which no other investment option offers. Following are the advantages of Life Insurance: It provides full protection against risk of death. Encourages and forces compulsory savings as the saved money cannot be withdrawn and premium has to be paid regularly. Provides loan to tie over a temporary difficult phase and is also acceptable as security for a commercial loan. Provides tax benefits to policyholders. Hedges risk against uncertainty.
