The Reserve Bank of India (RBI) on Friday proposed introducing a liquidity coverage ratio (LCR) for large non-banking finance companies (NBFC) to help tackle liquidity problems in the sector.
Senior citizens with a taxable income of up to Rs 5 lakh can now submit in banks and post offices Form 15H to claim exemption from TDS on interest income on deposits, according to a CBDT notification.
Cost of capital in India is quite high, which needs to be brought down, and there is also a need to create a land bank owned by public sector undertakings so that private investment can be attracted, Kumar said.
Sebi proposed reducing the overall time taken for rights issue to around 31 days as well as make the application and allotment process more efficient. Currently, rights issue process takes 55-58 days from the time company decides to launch the issue till listing.
The Income Tax Department proposed seeking more details including foreign donations received by trusts and institutions claiming deductions. The CBDT has issued a draft notification to amend Form 10B of the Income-tax Rules, 1962 by proposing changes in the audit report form to be filled by trusts and institutions.
Mutual funds can now invest in exchange traded commodity derivatives, except those on sensitive commodities, according to Sebi. To boost participation of mutual funds in the commodities market, the watchdog has allowed them to invest in Exchange Traded Commodity Derivatives with certain restrictions.
The decision to create a specialised supervisory and regulatory cadre within the RBI was taken at the meeting of the Central Board of the apex bank headed by Governor Shaktikanta Das. It was 576th meeting of the RBI Central Board.
The Enforcement Directorate has issued an order that virtually gags its officials posted at its headquarters here from interacting with journalists and said non-adherence to the new directive would invite "punitive action".
Hearing two public interest petitions, Chief Justice Krishna Murari asked: "Why free or subsidized power be given on agricultural pump sets to rich farmers?"
Majority of India Inc Monday chose not to react to exit polls, giving a second term to Prime Minister Narendra Modi as they await elections results on May 23. Major industry chambers Ficci, CII and Assocham declined to comment on the exit polls.
CEC Sunil Arora on Saturday termed as "unsavoury and avoidable" the controversy surrounding the recording of minority decisions on the Model Code of Conduct and Election Commissioner Ashok Lavasa's letter to him in this regard.
According to an official, Social Welfare Minister Rajendra Pal Gautam Thursday held a meeting with senior officers to discuss the modalities of the new policy.
The Central government will soon come out with a format for lodging a complaint with anti-corruption ombudsman Lokpal, officials said on Thursday. As per norms, a complaint shall be filed in the prescribed form to be notified by the Central government. "The form will be made public soon," a senior Personnel Ministry official said.
The income tax department deferred for the second time the requirement for companies to include in their tax audit report the details of Goods and Services Tax (GST) and GAAR.
India is expected to again extend the deadline by a month to impose retaliatory import duties on 29 US products, including almond, walnut and pulses, an official said. The previous extension will end on May 16.