RBI removes ceiling rate on export credit in foreign currency

RBI removes ceiling rate on export credit in foreign currency Posted: 04 May 2012 08:19 PM PDT DBOD.DIR.No.100/04.02.001/2011-12 With a view to increasing the availability of funds to exporters, it has been decided to allow banks to determine their interest rates on export credit in foreign currency with effect from May 5, 2012. [[ This is a content summary only. Visit my website for full links, other content, and more! ]] RBI raises Interest rate ceiling on Foreign Currency Non-Resident deposits of banks Posted: 04 May 2012 08:14 PM PDT DBOD.Dir.BC. 102/13.03.00/2011-12 Please refer to paragraph 2 of our circular No.DBOD.Dir.BC.59/13.03.00/2011-12 dated November 23, 2011 on Interest Rates on Deposits held in FCNR(B) Accounts. In view of the prevailing market conditions, it has been decided that until further notice and with effect... [[ This is a content summary only. Visit my website for full links, other content, and more! ]] RBI takes measures to ease foreign currency flows Posted: 04 May 2012 08:09 PM PDT On a review of developments in the global financial markets and current macro-economic conditions, the Reserve Bank has taken the following measures to ease foreign currency flows as also to enhance the availability of export credit in foreign currency: [[ This is a content summary only. Visit my website for full links, other content, and more! ]] DGFT withdraws suspension on Registration Certificates for export of cotton Posted: 04 May 2012 07:32 PM PDT Notification No. 113 (RE-2010)/2009-14 In exercise of the powers conferred by Section 5 of the Foreign Trade (Development & Regulation) Act, 1992 (No.22 of 1992) read with Para 2.1 of the Foreign Trade Policy, 2009-14, the Central Government hereby deletes Para 4 of Notification No. 106... [[ This is a content summary only. Visit my website for full links, other content, and more! ]] Guidelines For Speedy Sanction Of Prosecution Of Public Servants Posted: 04 May 2012 07:13 PM PDT . Government constituted a Group of Ministers (GoM), on 6th January, 2011 with the approval of the Prime Minister, to consider measures that can be taken by the Government to tackle corruption. One of the terms of reference (ToR) of the GoM was to consider and advise on – Fast tracking of all cases... [[ This is a content summary only. Visit my website for full links, other content, and more! ]] Exim Bank's Line of Credit to the Government of Democratic Socialist Republic of Sri Lanka Posted: 04 May 2012 12:24 PM PDT A. P. (DIR Series) Circular No.116 Export-Import Bank of India (Exim Bank) has concluded an Agreement dated January 17, 2012 with the Government of the Democratic Socialist Republic of Sri Lanka, making available to the latter, a Line of Credit (LOC) of USD 382.37 million (USD three hundred eighty... [[ This is a content summary only. Visit my website for full links, other content, and more! ]] Exim Bank's Line of Credit of USD 70 million to Government of the Republic of Congo Posted: 04 May 2012 12:21 PM PDT A. P. (DIR Series) Circular No.115 Export-Import Bank of India (Exim Bank) has concluded an Agreement dated December 14, 2011 with the Government of the Republic of Congo, making available to the latter, a Line of Credit (LOC) of USD 70 million (USD seventy million) for financing eligible goods,... [[ This is a content summary only. Visit my website for full links, other content, and more! ]] DGFT revises ITC (HS) Code of 6 existing products Posted: 04 May 2012 11:42 AM PDT PUBLIC NOTICE NO. 109 (RE2010)/2009-14 ITC (HS) Code of 6 existing products have been revised as appearing in the column 3 of para 3 & 4 above. These new codes would also be eligible for benefits for grant of VKGUY and FPS, as the case may be, if these appear in the Shipping Bills. [[ This is a content summary only. Visit my website for full links, other content, and more! ]] Norms of ECB and FDI for real estate sector Posted: 03 May 2012 10:37 PM PDT FDI is not permitted in Real Estate Business. However, as per paragraph 6.2.11 of 'Circular 1 of 2012 – Consolidated FDI Policy' of the Department of Industrial Policy & Promotion (DIPP), FDI upto 100 per cent is permitted under the automatic route for Townships, housing, built-up... [[ This is a content summary only. Visit my website for full links, other content, and more! ]] Pre-Payment Penality on Home Loans Posted: 03 May 2012 10:29 PM PDT Reserve Bank of India (RBI) in its monetary policy, during 2012-13 has announced not to permit banks to levy foreclosure charges/pre-payment penalties on home loan on a floating interest rate basis. [[ This is a content summary only. Visit my website for full links, other content, and more! ]] Apex Costing body wants Statutory Recognition for Profession Posted: 03 May 2012 10:17 PM PDT The value addition provided by a profession supplements and strengthens the statutory role which it normally plays under the legal framework by the government. As long as this aspect is recognized by the profession, the respect for it increases. Sometimes we get a rare opportunity to present this... [[ This is a content summary only. Visit my website for full links, other content, and more! ]] Employers can now submit EPF subscription online Posted: 03 May 2012 10:06 PM PDT Ending hassles of employers in payment of EPF subscription of employees, the government today started an electronic mechanism that promises to bring transparency and accessibility. The initiative, launched by Labour and Employment Minister Mallikarjun Kharge, offers an opportunity to employers to... [[ This is a content summary only. Visit my website for full links, other content, and more! ]] Empanelment with HUDCO of CA Firm for 2012-2013 for Branch Audit Posted: 03 May 2012 09:46 PM PDT The appointment of CA firm shall be done in two phases:- 1. Firm shall be short listed on the basis of Technical Bid and financial bids of short listed firms only would be opened.2. The services would be provided to Jaipur Regional Office, Housing & Urban Development Corporation Ltd. (HUDCO),... [[ This is a content summary only. Visit my website for full links, other content, and more! ]] HC asks ICAI to allow disabled CA examinee to take kins' help in exam Posted: 03 May 2012 09:28 PM PDT The Delhi High Court today asked the Institute of Charted Accountants in India (ICAI) to allow disabled persons appearing for the CA examination to take the their relatives' help in writing the papers for them. [[ This is a content summary only. Visit my website for full links, other content, and more! ]] How to translate your emails in Gmail? Posted: 03 May 2012 03:53 PM PDT When Gmail detects that one of your messages is in a language other than your default language, you'll see a box at the top of the message. Click the link that says Translate message, and your message will be translated.To see the original untranslated text, click View original message. [[ This is a content summary only. Visit my website for full links, other content, and more! ]] ISA Course Assessment Test on 23rd June 2012 Posted: 03 May 2012 12:21 PM PDT In pursuance of Rule 7 of Schedule 'F' to Regulation 204 of the Chartered Accountants Regulations, 1988 (as amended vide Notification No. 1-CA(7)/59/2001 dated 28th September 2001), the Council of the Institute of Chartered Accountants of India is pleased to notify that the Information Systems... [[ This is a content summary only. Visit my website for full links, other content, and more! ]] Aircel Ltd stake sale – Government Denies Allegations Posted: 03 May 2012 11:38 AM PDT Government Denies Allegations Allegations have been made that the proposal of M/s Global Communication Services Holdings Ltd, Mauritius (a wholly owned subsidiary of M/s Maxis Communications Berhad) to acquire 73.99 per cent equity in M/s Aircel Ltd was delayed by the then Finance Minister in order... [[ This is a content summary only. Visit my website for full links, other content, and more! ]] Post Office Agent Commission on Savings Schemes Posted: 03 May 2012 11:33 AM PDT The payment of commission to agents of Public Provident Fund (PPF) Scheme and Senior Citizens Savings Scheme has been discontinued, with effect from 1st December, 2011. Commission under all other schemes (except MPKBY Agents) has been reduced from 1% to 0.5%. However, commission to Mahila Pradhan... [[ This is a content summary only. 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