Market regulator SEBI has clarified on the interpretation of certain amendments in the insider trading norms, in response to a few queries from companies. The regulator said the six-month restriction for directors and employees to transact in shares of a company is only intended for trading on stock exchanges and not applicable to the exercise […]
AFTER numerous complaints of rampant misuse, the Securities and Exchange Board of India (Sebi) has proposed that stock brokers must settle the balance funds/securities lying in the trading accounts of clients on the last day of every month.Brokers must also send monthly statements to clients, and in case of a dispute, clients will have to […]
With lessons from the multi-crore rupee Satyam fraud case, the government is planning to include the concept of class action suit in new Companies bill, likely to be introduced in the current session of Parliament, to help investors claim damages from fraudulent companies.
Maharashtra government has given into the demand from various quarters including farmers and slashed the VAT back to 4% from the recent increase to 25% while the imported wines will attract the duty of 20% instead of 25%. The decision was taken at a special cabinet meeting convened Wednesday in Nashik. A decision was also taken […]
In a move that could lead to some charitable trusts losing their registration, the income-tax (I-T) department has started scrutinizing the returns they had filed earlier, two officials said. This follows a government directive last year to these trusts to pay income tax on the revenue they earn from commercial activities. “Since not many trusts […]
The Reserve Bank of India might change its bias towards softening interest rates into a more cautious outlook but is expected to keep key policy rates unchanged in the monetary policy review on Tuesday. At the same time, banking sources close to the development said the central bank could raise its growth target from 5-6 per cent […]
Madam Speaker, at the outset, I would like to thank all the honourable Members who have participated in the discussion on the Finance (No.2) Bill, 2009. I would also like to thank all other stakeholders who have participated in the debate outside the House. I have immensely benefited from the valuable suggestions made both inside […]
Circular No: 20/IRDA/Actl/ULIP/09-10 Sub: Unit linked products – Cap on charges The Insurance Industry has introduced ULIPs which have found favour with insurance customers in India. These products prescribe certain charges which are deducted either from contributions or from the fund. In 2005, the IRDA had in its Circular No.032/IRDA/Actuary/DEC-2005 dated 21/12/2005 defined various charges […]
New Delhi (PTI): The Central Vigilance Commission has disposed of 485 cases and effected recoveries to the tune of Rs 13.55 crore in the last one month alone. The Commission has launched prosecution against 10 officers including six from Central Board of Direct Taxes (CBDT), two from Department of Telecommunication and one each from Central […]
The Reserve bank of India (RBI) has penalised a number of banks—both government-run and private—in the last three years for violating its guidelines. The alleged violations include “non-adherence of know-your-customer (KYC) norms, failure of internal controls in initial public offerings, violation of foreign exchange management guidelines and non-maintenance of prescribed cash reserve ratio (CRR) and […]
