The government is planning to relax the recent diktat of clubbing non-convertible, optionally convertible or partially convertible preference shares as External Commercial Borrowings for some companies.
Srei Infrastructure Finance last month sold 50 per cent stake in a part of its business equipment financing arm to France's largest bank BNP Paribas for Rs 775 crore
By passing on the information to income tax department, the regulator wants to send a clear signal that manipulation could prove to be costly.
With pressure mounting on 18 regional exchanges to demutualise, some bourses have decided to shut shop, while others are going in for demutualisation - leading to an eventual consolidation.
Objective of the examination is to study the tax implications of such deals.
The Reserve Bank of India is exploring the use of a dollar sell-buy swap to drain liquidity from the banking system, having used the most common instruments over the last two and a half years in its fight against inflation.
Move aimed at checking short-term inflow of foreign funds.
The Comptroller and Auditor General of India plans to focus on infrastructure companies and banks for special audit during the current financial year.
To resume after six-year hiatus.
The Reserve Bank of India, which has already raised the cash reserve ratio (CRR) thrice since December last year, is contemplating another hike, though only on incremental deposits this time.
The funds are likely to be invested as per the interim investment guidelines, which may allow investment of 5 per cent in equity and 10 per cent in equity-linked mutual funds.
Corporates being compelled to pay higher rates on term loans of 3 years and above, struck at fixed rates a year ago.
The government is reviewing norms for investments by foreign venture capital funds in real estate, after the Reserve Bank of India coming round to the view that such funding is helping create an asset bubble in the sector.
The government proposes to treat the investments by foreign institutional investors in pre initial public offers (IPOs) of real estate companies at par with foreign direct investment.
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.
Companies will now have to pay a charge for loans sanctioned to them but not utilised
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.
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