Fake currency case: NIA court sentences six people to life imprisonment

A special National Investigation Agency, NIA court in Mumbai has sentenced six people accused in the 2009 fake currency case to life imprisonment. Special NIA judge Prithiviraj Chavan pronounced the sentence saying that the possession and circulation of Indian counterfeit notes was an act of terrori...

Cabinet gives nod for Waqf Properties Bill, 2013

The Union Cabinet has given its assent to Waqf Properties (Eviction of Unauthorised Occupants) Bill, 2013. The bill seeks to give wakf properties the status of public premises and make unauthorised occupation of waqf land a criminal offence. The proposed legislation will be highly beneficial for the...

China thermal plant failure causing crisis in country : Lanka Power Min

RBI issues guidelines for early detection of bad loans

RBI has released guidelines that will help banks in early recognition of bad loans and prompt steps for recovery or sale of unviable accounts. In the document called Framework for Revitalizing Distressed Assets in the Economy, RBI has asked banks to form a committee called Joint Lenders forum to for...

Disapprove of ATM charges: RBI Dty Governor

RBI Deputy Governor K C Chakrabarty has said that he disapproves the demand made by banks to charge their customers for using ATM services. Speaking to reporters in Mumbai yesterday, Mr. Chakrabarty said it is a little bit ridiculous that bank will charge customers for using an ATM. He said that ins...

RBI issues guidelines for early detection of bad loans & steps for asset recovery

RBI has released guidelines that will help banks in early recognition of bad loans and prompt steps for recovery or sale of unviable accounts. In the document called Framework for Revitalizing Distressed Assets in the Economy, RBI has asked banks to form a committee called Joint Lenders forum to for...

Disapprove of ATM charges, but up to banks to decide: RBI Dty Governor

RBI Deputy Governor K C Chakrabarty has said that he disapproves the demand made by banks to charge their customers for using ATM services. Speaking to reporters in Mumbai yesterday, Mr. Chakrabarty said it is a little bit ridiculous that bank will charge customers for using an ATM. He said that ins...

India and Fiji sign double taxation avoidance agreement

India and Fiji have signed a Double Taxation Avoidance Agreement, DTAA for the avoidance of double taxation and for the prevention of fiscal evasion with respect to taxes on income. The Agreement was signed in Delhi yesterday by the Finance Minister P. Chidambaram and Fiji's Minister of Jus...

RBI doubles sub-limit for FIs in govt securities

The Reserve Bank of India (RBI) has doubled the sub-limit for foreign investment in government securities, to USD 10 billion by long-term investors. RBI's move is aimed to attract more foreign funds. Investors like sovereign wealth funds (SWFs), multilateral agencies, insurance funds, pensi...

India-Saudi Arabia to double bilateral trade over next 5 years

India and Saudi Arabia have decided to enhance their bilateral trade and economic co-operation. Both the countries have urged the public and private sectors to build strong partnerships in different fields.The 10th India-Saudi Arabia Joint Commission met in Riyadh during January 27-28 under the chai...