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Axis Bank gets nod to raise FDI limit to 62%
Published on - Sunday, 19 January 2014
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.
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RBI allows third-party payments for export, import transactions
Published on - Saturday, 16 November 2013
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.
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Foreign banks’ arms can buy private banks: RBI
Published on - Saturday, 16 November 2013
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.
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5 kg LPG cylinders to be sold at more petrol pumps
Published on - Saturday, 16 November 2013
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.
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SEBI green signal for Jet-Etihad deal
Published on - Friday, 04 October 2013
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.
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Government notifies implementation of GAAR from April 2016
Published on - Friday, 04 October 2013
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.
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RBI bans zero interest loans on EMI to credit card holders
Published on - Friday, 04 October 2013
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.
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RBI sets up panel to frame vision for financial inclusion
Published on - Friday, 04 October 2013
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.
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Ennore Port pays Rs 40 cr dividend to Govt
Published on - Tuesday, 24 September 2013
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.
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Cabinet approves buying $4.3 billion World Bank bonds
Published on - Monday, 16 September 2013
13 September 2013
NEW DELHI: The union cabinet on Thursday approved a proposal to invest $4.3 billion in bonds of International Bank for Reconstruction and Development (IBRD), an arm of the World Bank, which will make India eligible for higher borrowing from the multilateral lender.
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Sebi eases KYC norms for foreign investors
Published on - Monday, 16 September 2013
12 September 2013
NEW DELHI: Making Indian capital markets an easier place to invest, Sebi on Thursday relaxed registration and disclosure norms for low-risk foreign investors and exempted the low-risk overseas entities from tedious paper work.
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CCEA okays supply of additional 5 MT foodgrain to BPL families
Published on - Monday, 16 September 2013
12 September 2013
NEW DELHI: The Cabinet Committee on Economic Affairstoday cleared a proposal to allocate additional 5 million tonnes of foodgrain to BPL families this fiscal, entailing a subsidy of about Rs 9,471 crore.
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Government notifies changes in FDI policy
Published on - Monday, 16 September 2013
11 September 2013
NEW DELHI: The government has notified changes in the FDI policy, paving the way for larger overseas investments in sectors such as multi-brand retail and telecom.
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