June 2012

Congress is using Raisina Hills for dumping unsuccessful finance Minister Pranab Mukherjee: P.A. Sangma

July 14, 2012

Presidential candidate P.A. Sangma alleged that Congress is using Raisina Hills for dumping unsuccessful finance Minister Pranab Mukherjee by nominating and supporting him in the presidential poll. What is Raisina Hill ? Raisina Hill is a region of Lutyens’ Delhi, New Delhi, that houses India’s most important government buildings,...

India’s new buzzword: “Policy Paralysis”

July 2, 2012

‘Policy Paralysis’ is the new exhortation echoing in the news media. According to news search conducted via Factiva, the catchphrase hit over 590 mentions in June 2012. The references soared as the rupee plunged to a record low of 57.32 against the dollar on June 22, 2012

Advance Pricing Agreement Scheme gets clearance of FM

July 2, 2012

Finance ministry approved the Advance Pricing Agreement (APA) scheme, related to transfer pricing regulations. The APA scheme, proposed in Budget 2012-13, is being considered as one of the major industry-friendly initiatives. The finance ministry’s green signal to the provisions devised by the Central Board of Direct Taxes (CBDT) would...

US court blocks Apple in Google battle

July 2, 2012

As per the ruling from Chicago federal court, US: Apple Inc. cannot pursue an injunction against Google’s Motorola Mobility unit. – The court dismissed the lawsuit b/w Apple and Motorola Mobility with prejudice, implying that it can’t be re-filed. Apple had hoped a decision against Motorola that would have...

Indian fishermen again attacked by Sri Lankan Navy

July 2, 2012

Sri Lankan Navy attacked four Indian fishermen off Katchatheevu. A few days before it had detained nine others for "straying" into their waters The four fishermen were allegedly beaten by Sri Lankan navy personnel off Katchatheevu, an islet ceded to Lanka in the 1970s The fishermen were warned of...

India displaying delayed effects of anti-inflation policies: Fitch

July 2, 2012

According to Global rating agency Fitch, India, China and Korea — three most powerful emerging Asian economies — are exhibiting delayed effects of tight monetary policies introduced in 2010-11 to tackle inflation. According to Fitch: Slow upgrading in financial position of countries including India and China has come in...

Market regulator SEBI fine-tunes norms for OFS, IPP

July 2, 2012

Working in the direction of making the process of disinvestment hassle free, capital market regulator SEBI fine-tuned norms governing Offer For Sale (OFS) & Institutional Placement Programme (IPP). IPP and OFS are the two new share sale tools initiated by the regulator in January, 2012 primarily to assist the...

Centre planning for Sixth Economic Census as a Central Sector Plan Scheme

July 2, 2012

The Centre is planning to carry out the Sixth Economic Census as a Central Sector Plan Scheme in collaboration with all states and Union territories. Objective: It will provide the official count of entrepreneurial units located in geographical boundaries of the country involved in economic activities. The database would...

Pakistan releases Surjeet Singh

July 2, 2012

Pakistan freed Indian prisoner Surjeet Singh who has served a life term following his arrest on charges of spying in the 1980s. Singh was freed from Kot Lakhpat Jail. Indian team present at Wagah will receive over 300 fishermen being repatriated. Surjit Singh was arrested by Pakistani police on...

Banking sector growth contingent on Innovative delivery model: PwC

July 2, 2012

According to a report by PwC (PricewaterhouseCoopers): · Innovative service delivery models, including mobile banking and ATMs, and the ability to satisfy customers will drive the growth of banking sector in the near future · The concerns over data security and lack of regulation clarity seeks urgent govt attention...