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RBI Releases Monthly Data on India’s International Trade

Mumbai (ABC Live):The Reserve Bank releases provisional aggregate monthly data on India’s international trade in services with a lag of around 45 days. Accordingly, the data for the month of August 2013 were released on October 15, 2013. The value of exports and imports of services during the month of September 2013 are given in the following Table. Table: International …

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RBI Bans Foreign Investment by NRIs in Carnation Industries Limited

Mumbai (ABC Live): The Reserve Bank of India has today notified that the aggregate net purchases of equity shares in M/s Carnation Industries Limited by Foreign Institutional Investors (FIIs) in the primary/secondary markets under Portfolio Investment Scheme (PIS) have reached the trigger limit. Accordingly, no further purchases of this company would be allowed through stock exchanges on behalf of Non-Resident Indians (NRIs)/Persons …

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RBI Chief Dr. Raghuram Rajan Fails to Understand Any Fundamental Reason for Volatility of Indian Rupee

Mumbai(ABC Live): Where Indian Rupee’s volatile behavior has shaken the all sections of Indian society especially business, the Reserve Bank of India’s chief Dr. Raghuram Rajan failed to find any reason for volatility in the value of the rupee. Further, Dr. Rajan advised Indians that, “We are left with fear about what others will fear and do to explain what …

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Society of Indian Automobile Manufacturers Confirms 3.88 percent Decline in Car Sales in October 2013

Mumbai (ABC Live): The cars sales in India witnessed decline by 3.88% in the month of October due to weak macro-economic conditions. According to figures released by the Society of Indian Automobile Manufacturers (SIAM), domestic passenger car sales in October stood at 1,63,199 units as against 1,69,788 in the same month last year. “We continue to see a decline in car sales. …

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TRAI Releases the Visitor Location Register Data about Telecom Subscribers

New Delhi (ABC Live): The Telecom Regulatory Authority of India (TRAI) has released Visitor Location Register (VLR) Data about Telecom Subscribers on Monday. Out of the total 874.87 million wireless subscribers in the country, 731.40 million were active on the date of Peak VLR for the month of July 2013. As per the latest telecom subscription data (as on 31st …

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Tech Mahindra Limited Hikes Its Foreign Institutional Investors Cap

Mumbai (ABC Live):The Reserve Bank of India today notified that M/s. Tech Mahindra Limited has passed resolutions at the Board of Directors’ level and a special resolution by the shareholders, agreeing of enhancing the limit for the purchase of its equity shares and convertible debentures by Foreign Institutional Investors (FIIs), through primary market and stock exchanges up to 45% revised from earlier …

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TRAI Releases India Latest Telecom Subscription Data

New Delhi (ABC Live): Telecom Regulatory Authority of India has released the latest telecom subscription data (as on 31st July 2013). As per this data, the total number of subscribers has increased to 904.46 million with a net addition of 1.37 million subscribers during the month – showing a monthly growth of  0.15%. Out of the total subscriber base, 548.85 million are from …

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SEBI Invites Public Comments on Draft SEBI (Real Estate Investment Trusts) Regulations

Mumbai (ABC Live): The Consultative Paper and draft SEBI (Real Estate Investment Trusts) Regulations are placed on SEBI website for Public Comments. The full text of the Consultative Paper and the draft Regulations is available on the SEBI website at: www.sebi.gov.in Comments are invited on the Consultative Paper latest by October 31, 2013

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RBI Announces Results for Additional Competitive Underwriting

Mumbai (ABC Live): In the auctions conducted on October 10, 2013 for Additional Competitive Underwriting (ACU) of the undernoted government securities, the Reserve Bank of India has set the cut-off rates for underwriting commission payable to Primary Dealers as given below: (` crore)          Nomenclature of the Security Notified Amount Minimum Underwriting Commitment (MUC) Amount Additional Competitive Underwriting Amount Accepted Total Amount …

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India Proposes to Setup Plastic Parks

New Delhi (ABC Live): The Government of India proposes to support setting up of ‘Plastic Parks’ for the promotion of downstream plastic processing industries. The Scheme to be implemented by the Department of Chemicals and Petrochemicals envisages setting up of a ‘Special Purpose Vehicle’ (SPV), which would provide infrastructure and common facilities for the industries. State Government or its agency, …

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