"Preparations for the regular budget are on... priorities are listed in the manifesto. (These) Will get reflected in the finance minister's budget speech," said the new minister of state for finance Namo Narain Meena. 'The focus of the new measures will be to stimulate demand in the domestic economy and to ensure there is more purchasing power in the hands of the people and more liquidity in the hands of the companies,' the Congress manifesto says.
It's going to be brother vs step brother contest in Rajasthan's Dausa, where a different 'NaMo' would take on the candidate from NaMo's party. P B Chandra reports.
The Reserve Bank is processing applications of 18 foreign banks, which have shown interest in setting up branches and representative offices in the country, Parliament was informed on Tuesday.
"The Union government has been following prudent external debt management policies to manage external debt flows, consistent with overall macroeconomic requirements and to keep the external debt level within manageable limits," Meena told the Lok Sabha in a written reply on Friday.
Reserve Bank of India also monitors the non-performing assets levels in banks.
Reliance Communications, Reliance Infratel, Huawei Technologies and Walt Disney Company (India) are among the companies which misused or diverted funds raised from abroad under the ECB route in the last three years, Parliament was informed on Friday.
The government on Friday said gains from fake currency business are going abroad through the hawala route and admitted that the quality of fake currency has gone up with better imitation of security features.
As bank loans to MFIs are mostly unsecured, the Indian Banks Association had requested RBI in December to relax its restructuring guidelines for the MFI sector.
Officials include assistant, deputy general managers.
The partially revised figures for FY'08 stood close to $3 billion at $2,827 million while, the two fiscal years FY'06 and FY'07 saw an outflow of $1.1 billion each and the same was $642 million in fiscal 2004-05.
The Indian rupee strengthened 12.9 per cent against US dollar during the year ended March, 2010, touching Rs 45.14, on the back of foreign capital inflows, Parliament was informed on Tuesday.
The regulator wants powers similar to Income Tax and CCI.
The lone public sector player Life Insurance Corporation fared much better than its private sector peers did.
Different categories, such as FII and FVCI, will be abolished. Most of them will come under one group, that is, QFI.
The wholesale price index based inflation in June declined to 7.25 per cent from 7.55 per cent in the previous month.
Food inflation came down to 10.35 per cent in the first week of August from over 20 per cent late last year.
The minister said that starting July, in four cities -- Delhi, Mumbai, Bangalore and Chennai -- the PPN system had been put in place to include only those hospitals that have agreed to work at given rates for specified procedures. In the rest of the country, the earlier process of rendering cashless facility was still continuing.
Market regulator SEBI has gotten a suggestion for preventing the same individual from holding the position of chairman and managing director simultaneously in listed entities, but apex body of public enterprises SCOPE has opposed such a move, Parliament was informed on Tuesday.
As Pranab Mukherjee resigned to contest the Presidential poll, Prime Minister Manmohan Singh on Tuesday took charge of the finance ministry portfolio at a time when the country's economy is going through a bad phase.
The government on Tuesday said it has agreed in-principle to deregulate diesel prices, but is not considering similar proposal for the cooking gas.
India has demanded the speeding up of global efforts to ban ozone-depleting chemicals and asked for adequate funding and transfer of related technologies to help developing countries reduce their emission.
Rupee has depreciated against major international currencies since July 2011.
Minister of state for finance Namo Narain Meena said 'No' in a written reply to the Rajya Sabha when asked whether the government is considering any proposal to discontinue insurance agents' commission.
The government is committed to ensure clearance of the Insurance Amendment Bill, which is expected to allow a higher foreign direct investment in the country's insurance sector, a central government minister said.
The government said on Tuesday that market regulator Securities and Exchange Board of India has not received any information about participation of terrorist organisations in the Indian stock exchanges.
Sebi in 2010 has mandated that execution of POA is not compulsory, but is only an option available to the client.
Here's a list of life insurance companies that have the maximum number of customer complaints against them in various categories such as claim disputes and unfair business practices.
The Dravida Munnetra Kazhagam is upset with the prime minister's office for not including DMK's M K Alagiri in the Empowered Group of Ministers on drought.
"Available inputs suggest that fake Indian currency notes are printed in a neighbouring country and pushed into India through neighbouring countries," Minister of State for Finance Namo Narain Meena told the Rajya Sabha in a written reply.
The government, however, did not provide details of persons or outfits whose bank accounts were frozen for suspected terror links.
The government on Tuesday said it would withdraw the stimulus package only after assessing its impact on the economic recovery.
The government said the Reserve Bank has decided to reduce the validity of cheques and bank drafts from the present six months to three months beginning next fiscal.
"Banks have been exploring the feasibility of using mobile phones as an alternative channel for delivery of banking services. RBI has observed an increase in usage of mobile phones for banking transactions," minister of state for finance Namo Narain Meena told the Upper House in a written reply.
It will increase life of the currency and also reduce counterfeiting.
Was told that account will be closed if it did not stop providing insurance cover to ships ferrying oil from Iran.
Several depositors and high-networth individuals were duped in the Rs 460.91 crore fraud which was engineered by a Citibank's Global Wealth Manager Shivraj Puri who was working at Gurgaon branch of the bank.
In a written reply in the Rajya Sabha Minister of State for Finance Namo Narain Meena pointed out that this amounted to 3.48 per cent of the total advances given by the state-owned banks.
PMO joint secretary Subrahmanyam to play a key ro#8804 full-time finance minister likely before October
RBI holds 557.75 tonnes of gold as part of foreign exchange reserves.
Cash-strapped Kingfisher Airlines owed over Rs 5,600 crore (Rs 56 billion) to public sector banks as on February this year.
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