Foreign Investment under ‘MAKE IN INDIA’ Programme The `Make in India’ initiative was launched in September, 2014 with the aims of promoting India as an important investment destination and a global hub for manufacturing, design, and innovation. Thereafter, during the period October, 2014 to May, 2016, the FDI equity inflow has increased by… Read More »
Merger of Nationalised banks The guiding principle for the consolidation process of banking in India was suggested by Narasimham Committee. According to which any initiative with respect to merger of public sector banks has to come from the Boards of the banks concerned, the extant legal framework, keeping in view the synergies and benefits of… Read More »
Foreign funded NGOs Government has cancelled the FCRA registration of NGOs based on the violation of provisions of FCRA, 2010. Government has taken action only in those cases where violations of FCRA have come to notice, specifically if they are reported. Ministry of External Affairs has communicated a write up containing certain views of UN… Read More »
Rs.22, 915 crore allocated for the capitalization needs of Public Sector Banks during the year 2016-17 In line with the announcements made under Indradhanush and the Union Budget, Government has undertaken an exercise to assess the capitalization needs of Public Sector Banks during the year 2016-17. The capital infusion exercise for the current year is… Read More »
New Features Released For NPS Subscribers Pension Fund Regulatory and Development Authority (PFRDA) takes various initiatives from time to time in order to simplify and improve the operational issues in National Pension System (NPS) like new functionality development under NPS architecture, simplification of account opening, withdrawal, grievance management etc. In this regard, recently many new… Read More »
India’s Foreign Trade: June, 2016 MERCHANDISE TRADE EXPORTS (including re-exports) For the first time after a gap of 18 months, exports in June 2016 have recorded a positive growth of 1.27%. During June,2016 exports were valued at US$ 22572.30 million (Rs.151904.56 crore) which was 1.27 per cent higher in Dollar terms (6.72 per cent higher… Read More »
RBI/2016-17/13 A.P. (DIR Series) Circular No. 02 July 14, 2016 To All Category – I Authorised Dealer Banks Madam/Sir, Exim Bank’s GoI supported Line of Credit of USD 86.31 million to Myanma Foreign Trade Bank (MFTB), Myanmar Export-Import Bank of India (Exim Bank) has entered into an agreement dated December 11, 2013 with Myanma Foreign… Read More »
Date : Jul 14, 2016 The Reserve Bank of India, in consultation with the Government of India, has decided to issue fourth tranche of Sovereign Gold Bonds. Applications for the bond will be accepted from July 18, 2016 to July 22, 2016. The Bonds will be issued on August 5, 2016. The Bonds will be… Read More »
Cabinet approves disinvestment of 15% in NBCC The Cabinet Committee on Economic Affairs, chaired by Prime Minister Shri Narendra Modi, has approved the disinvestment of 15% paid up equity of National Buildings Construction Corporation Limited (NBCC) out of Government of India’s 90% shareholding. It would result in estimated receipts of Rs.1,706 crore approximately to the… Read More »
F.No 1/04/2016-NS.II Govt of India Ministry of Finance Department of Economic Affairs (Budget Division) Dated 13.05.2016 Subject : Revision of Interest Rate for Small Saving Schemes-discontinuance of physical pre-printed NSC and KVP Certificates -regarding