Economy
Draft Microfinance Bill gives RBI total control
The Finance Ministry has formulated a new proposal which lays out the rules and regulations concerning India’s Microfinance industry. The Draft Microfinance Bill 2011, aims to protect the country’s microfinance borrowers, and bestows the RBI with total jurisdiction and control to regulate and oversee the working of the entire microfinance industry. The draft bill was [...]
CERC files petition against FMC
The Forward Markets Commission (FMC) and Multi-Commodity Exchange of India (MCX were issued official notices following a petition filed by Central Electricity Regulatory Commission (CERC) after the dispute over regulation of power futures between the electricity regulator and the commodity futures watchdog has reached the Supreme Court. “The high court committed a grave error in [...]
Inaccuracies in Govt data annoys businesses too
More and more entrepreneurs and business houses are coming forward with their unhappiness with the unreliability of the government-supplied data and the constant revisions it needs. They are arguing that the lack of consistent data related to demand, inflation and growth leads to wrong decisions, decisions that are often very costly. “We have to rely [...]
Indian Stock Market trading rangebound Jul-08-2011 13:27
The domestic bourses were seen trading in a narrow range in the negative terrain after recovering from the morning slump. Banking heavyweight SBI, which gained more than 1%, has led the pullback. Further, the strength in the Realty space also gave good support to the market. However, the weakness among the Metal stocks continued to [...]
Indian Stock Market Mid Session Jul-08-2011 12:40
The market was still trading in negative terrain but benchmark indices tried to rebound as Nifty and Sensex again crossed 5,700 and 19,000 levels respectively before touching the day’s low. The Metal index major spoilsport as it faced hefty sell-offs after the Group of Ministers approved Draft Mines & Minerals Development & Regulation Bill on [...]
Govt ups indirect tax collection target by 7%
The government has set a target of collecting Rs 3.15 lakh crore by way of indirect tax, which is up by 7%. The same is done by the government was done keeping in mind the increase in the revenue generated during the period of April-December 2010-11. The direct tax collection is also been increased from [...]