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DoT to Auction 1800MHz, 900MHz Spectrum Online on 3rd February 2014

New Delhi (ABC Live): The Department of Telecommunications (DoT) has extended the dates related to the auction of spectrum in 1800MHz and 900MHz bands and the auction will be conducted online on URL <dot.abcprocure.com> Now, the Auction will start on 3rd February 2014 instead of 23rd January 2014. The Department had issued an NIA (Notice Inviting Applications) on the 12th of this month ... Read More »

Service Tax VCES 2013 All Set to Fetch 6798 Crores

New Delhi (ABC Live): The Government of India launched Service Tax Voluntary Compliance Encouragement Scheme, 2013 to give last opportunity to service providers to pay service taxes by December 31, 2013. There has been an overwhelming response to the VCES. In the last four days, tax department have received over 16,000 applications involving Rs. 1500 crores of service tax dues. Upto ... Read More »

RBI Financial Stability Report Cautions Against Political Instability in 2014

Mumbai (ABC Live):The Reserve Bank of India today released the Financial Stability Report (FSR) – December 2013. The eighth in the series, the FSR – December 2013 is being released against the backdrop of a mild positive market reaction to the announcement of tapering in the US Federal Reserves’ bond purchase programme from January 2014. The commencement of the taper should ... Read More »

Government Approves Five Port Sector Proposals

New Delhi (ABC Live):The Public Private Partnership Appraisal Committee (PPPAC-a high level committee of the Government of India) has appraised five proposals in the Port Sector. These projects as listed below will now be recommended for grant of final approval by the Cabinet Committee on Economic Affairs (CCEA). The Ministry of Shipping will submit a Cabinet Note to the Cabinet ... Read More »

RBI Cautions e-Wallets Users, Holders,Traders on Hacking

Mumbai (ABC Live): The Reserve Bank of India has today cautioned the users, holders and traders of Virtual currencies (VCs), including Bitcoins, about the potential financial, operational, legal, customer protection and security related risks that they are exposing themselves to. The Reserve Bank has mentioned that it has been looking at the developments relating to certain electronic records claimed to ... Read More »

Hike in Operational Expense Dips EBITDA of FDI Companies in 2011-12: RBI

Mumbai (ABC Live):The Reserve Bank of India today released on its website, data related to Finances of Non-Government Non-Financial (NGNF) Foreign Direct Investment (FDI) Companies, 2011-12 based on audited annual accounts of select 766 companies which closed their accounts during April 2011 and March 2012. The study includes 715 companies covered in the regular studies on finances of non-government non-financial (NGNF) public/private ... Read More »

HDFC Bank FII/NRI/PIO/FDI/ADR/GDRs Limit Reaches Its Threshold

Mumbai (ABC Live):The Reserve Bank of India today notified that foreign share holding through Foreign Institutional Investors (FIIs)/Non Resident Indian (NRI)/Persons of Indian Origin (PIO)/Foreign Direct Investment (FDI)/Asset Development Reserve (ADR)/ Global Depository Receipt (GDR) in HDFC Bank Ltd. has crossed the overall limit of 49 per cent of its paid-up capital. Therefore, no further purchases of share of this bank ... Read More »

Banking Company Gets Exemption from Competition Act Over Acquisition, Amalgamation Mergers

New Delhi (ABC Live):The Government, vide notification dated 08.01.2013 has already exempted a banking company in respect of which a notification under section 45 of the Banking Regulation Act, 1949 has been issued for its amalgamation with any other banking institution, from the provisions of section 5 and 6 of the Competition Act, 2002. Giving this information in written reply ... Read More »

Post Elections Government Has to Take Hard Steps to Manage Indian Economy: Dr. Raghuram

New Delhi (ABC Live): Dr. Raghuram G. Rajan, Governor, Reserve Bank of India talked about financial reforms at the Delhi Economics Conclave 2013 at Delhi on December 11, 2013. “The economy is stabilizing, but there is no room for complacency. Some part of improvement in the CAD has happened due to suppressing gold imports. Not all the measures to reduce ... Read More »

India Trade Deficit with China Reaches US $ 38,669 Million during 2012-13

New Delhi (ABC Live): With a view to reducing trade deficit with China, efforts are being made to diversify the trade basket with emphasis on manufactured goods. We are also pursuing market access issues to tackle non-tariff barriers in the Chinese market at different fora. At the Ministerial level, we have India-China Joint Group on Economic Relations, Trade, Science and ... Read More »