Govt uneasy at prices, availability for domestic consumption.
This decision is based on the precedent in the case of Iran where DGFT last week allowed export proceeds realised even in Indian rupees to be made eligible for export benefits and incentives under India's foreign trade policy.
According to official sources, the scheme will support a new objective of asset creation along with its current job of funding project and schemes.
The Union ministry of food and consumer affairs proposes to insert a new clause in the fresh discussion note for the Cabinet on allowing foreign direct investment (FDI) in multi-brand retail.
These measures, which sought to improve market design in power exchanges, were discussed in the central advisory committee meetings chaired by the CERC chairman.
Most states have urged the Union consumer affairs ministry to set up a retail regulatory authority before opening up the sector for Foreign Direct Investment (FDI). These views form part of the report, prepared by the ministry after seeking the views of states.
The Union ministry of agriculture and the department of land resources under the ministry of rural development have given "in principle approval" to a proposal of the Department of Industrial Policy and Promotion (DIPP) to invite FDI for developing non-arable land through better technology into fertile and cultivable land.
The Ministry of Food and Public Distribution System is also expected to brief the apex court on the steps taken to address the problem.
Four persons privy to the discussions told Business Standard that the deal is close to finalisation, and that regulator Forward Markets Commission (FMC) had been kept in the loop. Indiabulls holds 40 per cent stake in the exchange, which started operations less than a year ago.
Says banks strong enough to tackle the problem on their own
Various options, including expanding the scope of some of the existing tools, were being considered to provide a financial safety net.
Ministry of Corporate Affairs suggests overhaul of rules for independent directors.
The Reserve Bank of India (RBI) has urged Finance Minister Pranab Mukherjee to allow the Securities and Insurance Laws (Amendment and Validation) Ordinance 2010 to lapse, since it could affect the autonomy of all regulators, including the central bank.
Ravi Kapoor, head of global banking at Citi India tells that the success of the Centre's divestment programme hinges on attractive valuations
A senior government official said the issue had come up during the foreign secretary-level talks earlier this week and Pakistan expressed its willingness to re-engage in the discussion.
Manmohan Singh also says there are greater risks of deflation, than inflation.
Government officials said the system proposed by the finance ministry, which would be akin to the mechanism followed for auction of investment rights in bonds, would result in Mint Road losing control over overseas fund raising by companies and that was RBI's major concern.
The Ministry of Corporate Affairs (MCA) has shelved its idea of auditing the books of listed companies by independent auditors.
The Ministry of Corporate Affairs has decided to relax the norms for companies to maintain minimum paid-up capital. According to the Companies Act 1956, the minimum paid-up capital for a private company is Rs 1 lakh and for a listed company Rs 5 lakh.
Rohit Chatterji, the new managing director and head of investment banking at J P Morgan, is cautious about the European crisis turning from a liquidity issue to a solvency crisis.
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