Quarterly Report on Public Debt Management for the Third (Q3) Quarter of FY 2015-16 (October-December 2015) released; Government issued Dated Securities worth Rs. 1,50,000 crore in ten tranches taking the Gross Borrowings from April-December of FY16 to Rs. 5,01,000 crore or 83.5 per cent of BE FY16, vis-à-vis 83.9 percent of BE FY15. Since April-June… Read More »
Atal Pension Yojana (APY) amended to give an option to the spouse to continue to contribute for balance period on premature death of the subscriber; After the death of both the subscriber and the spouse, the nominee of the subscriber shall be entitled to receive the pension wealth, as accumulated till age of 60 years… Read More »
Government Approves Fifteen (15) Proposals of Foreign Direct Investment (FDI) Amounting to Rs. 7261.6 crore Approximately; Recommends one Proposal for Approval of CCEA Involving FDI of Rs. 6885 crore Based on the recommendations of Foreign Investment Promotion Board (FIPB) in its 232nd meeting held on 7th March 2016, the Government has approved fifteen Foreign Direct… Read More »
RBI/2015-16/338 FIDD.MSME & NFS.BC.No.21/06.02.31/2015-16 March 17, 2016 All Scheduled Commercial Banks (Excluding RRBs) Madam / Sir, Framework for Revival and Rehabilitation of Micro, Small and Medium Enterprises (MSMEs) In order to provide a simpler and faster mechanism to address the stress in the accounts of MSMEs and to facilitate the promotion and development of MSMEs,… Read More »
Interest Rates on various Small Savings Schemes for the 1st Quarter of 2016-17 notified; Additional Interest Rate spreads which the Government allows on Small Savings Schemes like PPF, Senior Citizen Savings Scheme, Sukanya Samridhi Scheme and NSC etc. are being continued and included in the rates notified today. From the year 2012-13, the interest rates… Read More »
Third Tranche of SGB from 8th March, 2016 to 14th March, 2016, as per initial figures, show more than 64,000 Applications received for a total subscription of 1128 Kilograms of Gold amounting to Rs. 329 crore; SGB to be issued on March 29, 2016. During the third tranche of the Sovereign Gold Bond (SGB) scheme… Read More »
Held Rule 9(3) which provides that the purchaser shall pay a deposit of 25% of the amount of the sale price on the sale of immovable property also indicates that the said provision is mandatory in nature. As regards balance amount of purchase price, sub-rule (4) provides that the said amount shall be paid by… Read More »
Lok Sabha clears Real Estate Bill as passed by Rajya Sabha Shri Venkaiah Naidu clarifies various issues of the Bill Real Estate Bill is Prime Minister’s Gift to the Nation, says Shri Naidu The Bill shall have a bearing on the ongoing projects and houses 70% is for both construction cost and land cost to… Read More »
India’s Foreign Trade (Merchandise): February, 2016 MERCHANDISE TRADE EXPORTS (including re-exports) Exports during February, 2016 were valued at US$ 20738.60 million (Rs. 141515.41crore) which was 5.66 per cent lower in Dollar terms (3.77 per cent higher in Rupee terms) than the level of US$ 21983.43 million (Rs. 136379.94crore) during February, 2015. Cumulative value of exports for… Read More »
Whether Debt Recovery Tribunal (DRT) will have jurisdiction to entertain an application for recovery in the case of a claim for recovery made by a debenture trustee of debentures of a company on behalf of or for the benefit of the debenture holders ? Held we already considered section 17 of the RDB Act. On… Read More »