Government Approves Five (5) Proposals of Foreign Direct Investment (FDI) Amounting to Rs. 6050.10 Crore Approximately Based on the recommendations of Foreign Investment Promotion Board (FIPB) in its 229th meeting held on 21st December 2015, the Government has approved five (05) proposals of Foreign Direct Investment (FDI) amounting to Rs. 6050.10 crore. The following five (05) proposals have been… Read More »
MUDRA (SIDBI) Bank to undertake refinance operations and provide support services with focus on portal management and also data analysis; MFIs can now become Member Lending Institutions (MLIs) with MUDRA (SIDBI) Bank for refinance and with NCGTC for Credit Guarantee. The Union Cabinet had yesterday i.e. 6th January, 2016 approved creation of a Credit Guarantee… Read More »
Land Acquisition Govt of India vide THE GAZETTE OF INDIA : EXTRAORDINARY [PART II—SEC. 3(i)],Notification No [F.No. 13011/01/2015- LRD] Dated 18th December, 2015. notified Right to Fair Compensation and Transparency in Land Acquisition, Rehabilitation and Resettlement (Compensation, Rehabilitation and Resettlement and Development Plan) Rules, 2015 When will Right to Fair Compensation and Transparency in Land… Read More »
NHAI To Issue Tax Free, Secured, Redeemable Non-Convertible Bonds Issue to open on 17th December 2015 and close on 31st December 2015 NHAI plans to raise funds through public issue of tax free, secured, redeemable non-convertible bonds with Face Value of Rs 1,000 each for an amount of Rs 1,000 crore with an option to… Read More »
Initiatives by Government of India for promoting PPPs: Government of India (GoI) has been placing strong emphasis on the use of Public Private Partnerships (PPPs) as a strategy for expanding the provision of infrastructure services. Several initiatives have been taken to create an enabling framework for PPPs: Ø The appraisal mechanism for the PPP projects… Read More »
Facts of the Case G. Srinivasan was found to be main accused , he only availed the loan projecting R. Manoharan as Proprietor of M/s. Bhagavathi Textiles Mills Limited. After availing the loan, he purchased about 165 acres of land in Pudukkottai Village from One K. Gunasekaran, G. Selvarani, R. Sivkumar, Shri Chinnakkannu in the… Read More »
Sukanya Samriddhi Yojana The number of accounts opened upto 31.10.2015 under Sukanya Samriddhi Yojana across the country is 76, 19,668. The amount collected under these accounts is Rs. 2838.73 crore. The scheme was notified on 2.12.2014 and the maturity period of accounts opened under the scheme is 21 years. The scheme has completed one year.… Read More »
04.12.2015 The Reserve Bank of India (RBI) has cancelled the certificate of registration of the 56 (fifty six) non-banking financial companies (NBFCs) as shown in Annex, in exercise of the powers conferred on it under Section 45-IA (6) of the Reserve Bank of India Act, 1934. Following the cancellation of registration certificate, these companies cannot… Read More »
Source : Reserve Bank of India RBI/2015-16/259 DBR.Dir.BC.No.62/04.02.001/2015-16 December 4, 2015 All Scheduled Commercial Banks (excluding RRBs) Dear Sir/Madam, Interest Equalisation Scheme on Pre and Post Shipment Rupee Export Credit The Government of India has announced the Interest Equalisation Scheme on Pre and Post Shipment Rupee Export Credit to eligible exporters. The scheme is effective… Read More »
Reserve Bank of India (RBI) through its Master Circular dated 1.12.2015 (available on its website www.rbi.org.in) has issued consolidated instructions/guidelines on credit card, debit cards/pre-paid card operations of banks. The said instructions contain detailed terms under which a debit card may be issued, inter-alia, advising banks as under: The terms shall put the cardholder under… Read More »