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100 percent FDI Allowed d in Transwarranty Finance

Mumbai (ABC Live): The Reserve Bank of India has today notified that Foreign Institutional Investors (FIIs)/Registered Foreign Portfolios Investors (RFPIs) and Non Resident Indians (NRIs) can now invest up to 100 per cent and 24 per cent respectively of the paid up capital of M/s Transwarranty Finance Limited under the Portfolio Investment Scheme (PIS). The Reserve Bank further advised that the foreign shareholding by ... Read More »

Cabinet Puts Seal Over HMT Disinvestment

New Delhi (ABC Live):HMT Disinvestment: The Cabinet Committee on Economic Affairs, chaired by the Prime Minister Shri Narendra Modi, has given its approval for offering attractive VRS / VSS packages at 2007 pay scales to mitigate the hardships being faced by the employees of HMT Watches Ltd., HMT Chinar Watches Ltd. and HMT Bearings Ltd. and close their operations. The ... Read More »

Cabinet Approves CCI International MoUs

New Delhi (ABC Live):The Union Cabinet under the Chairmanship of Prime Minister Shri Narendra Modi has given its post-facto approval to the Memoranda of Understanding (MOUs) between the Ministry of Corporate Affairs, Competition Commission of India (CCI) and Indian Institute of Corporate Affairs (IICA) with Foreign Countries/Organizations. The Memoranda of Understanding are between the following: (i)                Ministry of Corporate Affairs and ... Read More »

Credit Guarantee Fund Approved for MUDRA

New Delhi (ABC Live):The Union Cabinet, chaired by the Prime Minister Shri Narendra Modi has given its approval for the creation of a Credit Guarantee Fund for Micro  Units  Development  Refinance  Agency  (MUDRA)  loans and to convert MUDRA Ltd. into MUDRA Small  Industries  Development  Bank  of  India (SIDBI)  Bank as a wholly owned subsidiary of SIDBI. The Fund is expected to guarantee more ... Read More »

Stand Up India Scheme for ST,SC,Women Approved

New Delhi (ABC Live):Stand Up India Scheme :The Union Cabinet, chaired by the Prime Minister Shri Narendra Modi, today approved the “Stand Up India Scheme” to promote entrepreneurship among SC/ST and Women entrepreneurs. The Scheme is intended to facilitate at least two such projects per bank branch, on an average one for eachcategory of entrepreneur. It is expected to benefit ... Read More »

RBI Releases Urban Co operative Banks Outlook 2014 to 15

New Delhi (ABC Live):  Urban Co operative Banks Outlook 2014 to 15 : The Reserve Bank of India today released the 2nd volume of the annual publication titled ‘Primary (Urban) Co-operative Banks’ Outlook 2014-15’. The publication be accessed at http://dbie.rbi.org.in/DBIE/dbie.rbi?site=publications#!13. The publication has been brought out by the Department of Co-operative Bank Supervision of the Reserve Bank of India. The publication covers the ... Read More »

Amended Negotiable Instruments Act 2015 Settles Jurisdiction Issue

New Delhi (ABC Live): Negotiable Instruments Act  2015: The Negotiable Instruments (Amendment) Bill, 2015 was passed by the Parliament in the recently concluded Winter Session of the Parliament. The Negotiable Instruments (Amendment) Act, 2015 received the assent of the President on the 26th December, 2015 and has been published in the Gazette of India, Extraordinary on 29th December, 2015. The ... Read More »

RBI Penalises State Bank of Travancore for CRILC Violations

Mumbai (ABC Live):The Reserve Bank of India has imposed monetary penalty of ₹ 10 Million on State Bank of Travancore for violation of its instructions, inter alia, on reporting of data to Central Repository of Information on Large Credits (CRILC). The penalties have been imposed in exercise of powers vested in the Reserve Bank under the provisions of Section 47(A) ... Read More »

RBI Allows FIIs to Invest 49 percent in SITI Cable Network

Mumbai (ABC Live):SITI Cable Network : The The Reserve Bank of India has today notified that Foreign Institutional Investors (FIIs)/Registered Foreign Portfolios Investors (RFPIs) can now invest up to 49 per cent of the paid up capital of M/s SITI Cable Network Limited under the Portfolio Investment Scheme (PIS). The Reserve Bank has stated that the company has passed resolutions at its ... Read More »

SEBI Issues Procedure for Securities Allotment

Mumbai (ABC Live): SEBI has issued  procedure to deal with cases prior to April 01, 2014 involving offer / allotment of securities to more than 49 up to 200 investors in a financial year. Prior to April 01, 2014, offers of securities – shares and debentures – by companies to more than 49 persons were deemed to be public offers. ... Read More »