The government is planning to cap the term of shareholder and non-official directors on the boards of public-sector banks, insurance companies and financial institutions at six years.
Pranab Mukherjee proposed a separate entity for bank recapitalization.
Said to be considering a 2nd term for RBI deputy governor
The regulators have proposed changes in the norms for inclusion of mutual funds in the scheme.
The outstanding loan amount is Rs 7,000 cr.
Move fuels fears of consolidation among unions of some small banks; won't force unification, clarifies finance ministry.
Spectrum auction and divestment proceeds likely to disappoint, subsidies are likely to overshoot the Budget target and there might also be some shortfall in tax collections.
Those paying more than Rs 25 lakh in service tax will soon have to file their returns every month instead of once in six months.
IIFCL Chairman S K Goel says the recommendations are premature, as the state-run lender's role as a guarantor for long-term funds would depend on the success of the Credit Enhancement Scheme and Infrastructure Debt Fund.
Stuck projects to spring back to life with fresh lending; cut in end prices to benefit buyers.
A positive list for taxation of services might be back, though only for accounting purposes.
FinMin talking to Irda on many issues, meeting Chidambaram this week.
The government would take a hit of about Rs 6,000 crore (Rs 60 billion) this year if it rolls back the excise duty of Rs 1.5 per litre on diesel it levied last week.
Finance Minister P Chidambaram will soon have to decide whether to stick by his predecessor's choice of former Reserve Bank governor Y V Reddy for chairmanship of the 14th Finance Commission, to be set up next month.
The finance ministry is instead thinking of expanding the list of services on which the tax would be levied under the reverse charge mechanism.
The finance ministry may ask cash-rich public sector undertakings (PSUs) to invest in foreign assets that are currently available at cheap rates due to the global economic slowdown.
Finance Minister P Chidambaram has called a meeting of officials from life insurance companies on September 1. The meeting is aimed at improving insurance penetration and addressing concerns of companies in the sector.
Exporters, who were banking on the foreign trade policy (FTP) announced this year, have started becoming jittery as merchandise goods' exports have fallen around 15 per cent in July.
Notification after Parliament session; execution ball to be in states' court.
Brand name rule might be waived for Swedish major's mega investment proposal, indicates DIPP; final revision of its application likely by end-August.
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