A way to ensure good growth as private banks find organic growth tough.
After the first day of listing, the exchanges put a price band of 20 per cent for the movement of the stock prices. However, the level of circuit filter proposed for IPOs on the first day of listing is not known.
While there is little chance of a reduction in this limit, the central bank is now insisting on a certificate from chartered accountants on the end-use of the funds borrowed.
As they feel that the rupee may depreciate to 43.75 levels over the next six months.
The tax burden on foreign banks , which avail of funds from their parents for operations in India, may go up substantially following a recent order passed by the Mumbai Income Tax tribunal in the case of UAE-based Mashreq Bank.
Seeks capital gains tax payment prior to FIPB clearance.
Sebi has directed the depositories to ask all the depository participants to examine the origin of accounts that did not comply with the requirement for Permanent Account Number.
The exchange rate policy has served us very well in the last so many years and the exchange rate has been commended all around, says RBI Governor Y V Reddy.
The move will partly offset the impact of foreign currency inflows on money supply.
The issue has gained importance as a working group of International Organisation of Securities Commission (IOSCO) has been set up to study the impact of private equity funds on emerging markets.
Market regulator asks bankers to use real time gross settlement system for IPOs.
This follows an Authority for Advance Ruling (AAR) decision, which directed that payments made by an Indian subscriber for using a portal of a foreign company will be subject to deduction of tax at source.
Price ceiling on the day a company's scrip is first listed on the cards.
The Bombay Stock Exchange may longer enjoy the exclusivity over the reporting platform for the corporate bond market
The Central Board of Direct Taxes has sought a clear definition of the term 'permanent establishment' for assessment of tax payable by foreign entities in India. Currently, the Act defines a 'permanent establishment' as a fixed place of business.
The Income-Tax department will have a say in mergers, demergers and amalgamations in 2006-07, with the Registrar of Companies (RoC) referring the first set of cases for clearance to the department.
The government is planning a slew of amendments to the Securities and Exchange Board of India (Sebi) Act in the forthcoming Budget session.
In a major development on taxation of FII income, the Authority on Advance Ruling has ruled that income will now be taxed as capital gains and not business income.
According to market sources, it has been observed that most companies are filing claims under short-term capital gains, irrespective of the volume of transactions.
The Bombay Stock Exchange is learnt to have shortlisted London, Nasdaq, Deutsche Borse, New York, and Singapore stock exchanges for the proposed sale of its 26 per cent stake.
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