27 December 2013

NEW DELHI: The government has approved Axis Bank's proposal to raise the foreign investment limit in the bank to 62% from 49%, which will facilitate the sale of the government's stake in it apart from allowing overseas entities to pick up shares.

23, November 2013

NEW DELHI: The National Lok Adalat organised throughout the country today "effectively wiped out" a record 28.26 lakh cases pending in various courts.

8 November 2013

MUMBAI: Easing procedures, the Reserve Bank allowed third-party payment for export and import transactions.

With a view to further liberalise the procedure relating to payments for exports/imports, banks are allowed payments for export of goods/software to be received from a third-party, the RBI said.

7November 2013

The Reserve Bank of India, on Wednesday, permitted wholly-owned subsidiary (WOS) of foreign banks to acquire domestic private sector banks as well as set up branches anywhere in the country. It also allowed foreign bank subsidiary to list on local stock exchanges.

4 November 2013

The Government has decided to expand the scheme of selling non-subsidised 5 kg LPG cylinders from petrol pumps. Now, sale of these cylinders in select cities by public sector oil marketing companies will not be restricted to pumps owned and operated by them alone.

1 October 2013

Paving the way for Jet Airways’ proposed sale of 24 per cent stake to Abu Dhabi-based Etihad, market regulator Securities and Exchange Board of India (SEBI) has felt that the deal in its revised form does not give controlling powers to the foreign carrier, and is in compliance with the regulations.

27 September 2013

NEW DELHI: India has said all investments made by foreign investors prior to August 2010 will not attract the controversial tax rules, the General Anti-Avoidance Rules or GAAR. The government on Thursday notified the much-diluted GAAR provisions that will come into effect from April 2016 and apply to business arrangements with a tax benefit exceeding 3 crore.

26 September 2013

MUMBAI: In a move that is likely to dent retailers' festive season sales, the Reserve Bank of India has barred 'zero per cent interest' schemes offered by banks to credit card holders. Banks will now be able to recover dues through equated monthly installments only when customers are billed regular interest charges. 

23 September 2013

The Reserve Bank on Monday announced a 13-member committee, including former Citibank CEO Vikram Pandit and Axis Bank chief Shikha Sharma, to frame a "clear and detailed" vision for financial inclusion/deepening across the country.

CHENNAI, SEPT 17:   

Ennore Port Ltd has paid Rs 40 crore to the Union Government towards dividend for 2012-13. The country’s only corporatised port has been paying dividend to the Government since 2008-09.