Commodity brokers directed to clear dues, with late penalty; HC petition on levy pending since 2005. The Maharashtra government has issued notices to a number of members of various commodity exchanges for immediate payment of pending stamp duty dues, along with a late penalty of two per cent per month http://www.business-standard.com/india/news/maharashtra-again-fires-stamp-duty-gun/442762/
A passport is a must when you plan to travel out of your country of residence. It is an identity card that endorses your legitimate citizenship. Without a valid passport, you will not be allowed to enter any country. Here you’ll findRead More
Bank Account today is as important as having a (roti, kapda and makan) meal, cloths and shelter.
In India various banks are offering number of personal and business banking products to Indian citizens and residents, including savings accounts with as much as 3.5 percent interest per annum. These accountsRead More
At a time when most brokerages in this country are struggling due to shrinking cash market volumes and low commission, several foreign firms are betting big on India. Foreign majors such as Daiwa, Jefferies, Barclays, RBS, Espirito Santo and Newedge have hired senior and mid-level executives in the past three months and plan to add […]
SEBI has said limited liability partnership (LLP — a concept which came into being in India only in 2008) firms should be considered as a body corporate and are eligible to become members of stock exchanges. In a clarification on Monday, SEBI observed that LLP were akin to limited liability companies (LLC) and partnership firms, […]
At a time when the government is grappling with the black money menace, the RBI has penalised as many as 48 small banks in just six months, for lapses in implementing customer identification norms and various other violations http://timesofindia.indiatimes.com/business/india-business/RBI-fines-48-banks-for-violation-of-KYC-AML-norms-in-6-months/articleshow/9173546.cms
The Insurance Regulatory and Development Authority (IRDA) has imposed a fine of Rs 70,00,000 on SBI Life Insurance company for paying around Rs 204 crore to eight of its corporate agents and six master policyholders, far in excess of the stipulated levels. In an order on Friday, IRDA asked SBI Life Insurance to pay the […]
A sharp decline in the number of equity new fund offers (NFOs) is good news for retail investors. Fund houses have launched just nine schemes since January, shows data from the Association of Mutual Funds in India (Amfi). When the stock market is doing well, fund houses make a rush to introduce the themes in […]
Jobless growth has found a new home — India’s life insurance companies. In the last financial year, private life insurers reduced headcount by 27 per cent to achieve profitability. The number of people employed by these companies as on March 31, 2011, was 60,215, as against 81,507 in the corresponding period last year. They closed […]
In a major exercise to boost its profitability, the Department of Posts (DoP) plans to introduce core banking solutions besides setting up India Post ATMs and debit cards for its customers. “We have set target of bringing in core banking solution by 2012. It will ensure smooth online transactions. We are giving some e-payment services, […]
