Others News

Reduction of Taxes on Petro-Products

06 September 2011 at 18:03

With effect from 25th June, 2011, the Central Government has reduced basic customs duties on crude from 5% to Nil, on petrol and diesel from 7.5% to 2.5% and on other petroleum products from 10% to 5%. Similarly, the basic excise du

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Government Takes Necessary Action to Protect Markets while Keeping Close Watch on Global Developments

06 September 2011 at 18:03

The uncertainty in the global markets due to recent developments in United States of America (USA) and Eurozone has had some impact on major markets across the globe, including India. However, Indian markets were less affected as compared to some

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Branch Expansion of Foreign Banks in India

03 September 2011 at 11:37

As on 29.8.2011, 38 foreign banks are functioning with 321 branches in India. Reserve Bank of India has givenfollowing approvals for opening maiden branch/branch expansion in India during 2010 and 2100:- Branch/Branch expansion in India du

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FEMA Violations - Not to be prosecuted as a civil in nature

03 September 2011 at 11:37

The Foreign Exchange Management Act, 1999 is a civil act in nature as such there is no provision for launching the prosecutions. During the last three years i.e. 2009-10,2010-11 and 2011-12 (upto July 2011) , the Directorate of Enforcement has

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Indian Growth Story to Remain Largely Intact

03 September 2011 at 11:37

The uncertainty in the global markets due to recent developments in United States of America (USA) and Euorzone have had some impact on capital markets in India. The economy, however, is basically domestic demand driven, as about 85 per cent of it

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Legislation for Protection of Interest of Depositors

03 September 2011 at 11:36

The Reserve Bank of India (RBI) Act, 1934 provides adequate protection to small depositors in financial institutions. The interest of Depositors in financial establishments can be broadly divided into two segments (a) companies registered as Non-Ba

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Government takes Various Steps to Curb Circulation of Fake Currency

03 September 2011 at 11:20

The steps taken by the Government to curb circulation of Fake Indian Currency Notes (FICN) in the country include stepping up of vigilance by the Border Security Force and Custom authorities to prevent smuggling of fake notes; dissemination of i

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ICAI - President's Message - September 2011

30 August 2011 at 15:22

Let me first offer my sincere regards to the former President of India and great philosopher Dr. Sarvepalli Radhakrishnan on the eve of the Teachers Day that is celebrated on 5th September, i.e. his birthday

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Notice for Membership Fee to avoid from Cancellation of Certificate of Practice

30 August 2011 at 13:41

FOR ATTENTION OF MEMBERS In order to avoid removal of their names from the Register of Members and cancellation of Certificate of Practice, Members who have not paid their fees are requested to remit the same on or before 30th September, 2011 as

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RBI releases Draft Guidelines for Licensing of New Banks in the Private Sector

29 August 2011 at 15:48

RBI releases Draft Guidelines for Licensing of New Banks in the Private Sector The Reserve Bank of India released on its website today, the Draft Guidelines for “Licensing of New Banks in the Private Sector”. The Reserve Bank has

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