here have been significant changes in the macroeconomic environment since the Second Quarter Review issued on November 2, 2010. Globally, the recovery in the advanced economies appears to be consolidating and expectations of growth during 2011, parti
In its order, the Court, while dismissing the writ petitions filed by Indian Rare Earths Ltd, Manavalakurichi, Kanyakumari District, a Government of India undertaking, challenging, inter alia, the common order dated September 23, 2005 of the Regional
Out of the 16 numbers on a typical credit card, the set of first 6 digits is known as the issuer identifier number (read this for details), and the last digit is known as the “check digit” which is generated in such a way as to satisfy a certain cond
The above decision lays down that the amount written back by a bank from provision for bad and doubtful debts which has not been allowed in the earlier years as a deduction cannot be taxed as income in the year of write back.
Applications for admission to Professional Competence Examination (PCE), Integrated Professional Competence Examination (IPCE) and Final examination can be made either through the online mode at http://icaiexam.icai.org or through physical application forms, which are priced as follows:
1. What is Micro Credit? Micro Credit is defined as provision of thrift, credit and other financial services and products of very small amount to the poor in rural, semi-urban and urban areas for enabling them to raise their income levels and impro
1. What is Commercial Paper (CP) ? Commercial Paper (CP) is an unsecured money market instrument issued in the form of a promissory note. 2. When it was introduced? It was introduced in India in 1990.
The Indian retail industry has been riding a wave for the last couple of years. According to a latest report, retail sales are expected to rise from US$ 343 billion currently to US$ 543 billion. Reliance Fresh, Subhiksha, Vishal Retail, Spencer’s, More, Big Bazaar and many more have entered India since the modern format retail concept began. The expanding middle and upper classes has played a big role in the expansion of existing modern format stores and entry of new ones
No lis lies when there is no live claim or the cause of action and it is settled legal principle. The requirement of having a live claim for seeking relief is also been highlighted by the Hon’ble Apex Court while dealing with the scope of powers of Chief Justice under section 11 of Arbitration and Conciliation Act, 1996.
The enactment of ‘Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002’ has facilitated an easy mode of recovery of loan for the banks where there is a ‘Secured Asset’ and it will definitely reduce the rate of ‘Non-performing Assets (NPA)’. Non-performing Assets (NPA) effect the functioning of the banking system in India. Just because the Banks face problems in recovering the dues, the interests of the borrowers can not be compromised and they should be provided with an effective remedy when there exist a genuine grievance.
