SEBI
Sebi attaches bank, demat accounts in Pyramid Saimira case
Markets
regulator Sebi today ordered attachment of bank as well as demat
accounts of Kamalnayan Harakchand and Uma Saminathan, wife of Pyramid
Saimira's former promoter P S Saminathan. The move is part of Sebi's
efforts to recover Rs 1.27 crore dues from P S Saminathan. He had been
penalised by Sebi for multiple violations, including non-compliance with
disclosure norms and for indulging in fraudulent trading activities in
the capital market. According to the Securities and [….] Read more
at:
Legal tussle over reappointment of Saran as Sebi member
A
legal tussle is brewing over the reappointment of Prashant Saran as
whole-time member of the Securities and Exchange Board of India (Sebi).
The Society Standing for All Youth Mass Awareness, a non-governmental
organisation (NGO), had filed a writ petition in the Delhi High Court
against the reappointment of Saran in 2012. The petition alleges that
his fresh application for the term was with an invalid vigilance
clearance. According to the guidelines of the Central Vigilance
[….] Read more at:
RBI
Staff protest hits RBI activity in morning, normalcy later
About 17,000 employees of the Reserve Bank of India (RBI) went on mass casual leave on Thursday,
affecting dealings in the bond markets in the morning. The operations
were back to nornal by the end of the day. The RBI employees and
officers were protesting against the Centre's intervention in the
autonomy of the central bank and to sort pension-related issues.
Banking sources said the activity in early morning in segments such as
Real Time Gross Settlement (RTGS) was affected [….] Read more at:
RBI sets direct agri-lending target at 11.57%
Reserve Bank of India (RBI) on Thursday
said banks should lend at least 11.57% of their fund directly to
non-corporate farmers in fiscal 2015-16. The number is the system-wide
average of the last three years, as computed by the RBI. From next year,
such three year averages will be notified by the regulator at the
beginning of every year. If a bank fails to meet this target, the lender
will have to pay penalty, usually investing in bonds by Nabard or of
Rural Infrastructure Development Fund (RIDF), at a l [….] Read more
at:
Miscellaneous Laws
FIPB clears 6 FDI proposals worth Rs1,810 crore
The
Foreign Investment Promotion Board (FIPB) has cleared six FDI proposals
envisaging foreign investment of Rs1,810 crore, including that of IIFL
Holdings. “Based on the recommendations of FIPB in its meeting held on
30 October 2015, the government has approved six proposals of foreign
direct investment (FDI) amounting to Rs1,810.25 crore,” a finance
ministry statement said on Wednesday. The FIPB, however, rejected the proposal of Volkswagen Finance for investment [….] Read more at:
Bonanza for central government employees as 7th Pay Panel recommends 23.55% hike
The
Seventh Central Pay Commission has recommended a 23.55% increase in the
pay and pensions of nearly 47 lakh government employees and 52 lakh
retirees that could result in a demand-led economic boost but
significantly challenge India's ongoing fiscal consolidation plan. The
award will be applicable from January 1, 2016.
"An implementation secretariat headed by expenditure secretary is being
created to look at implementation of seventh pay commission
recommendations," Fi [….] Read more at:
Economy & News
Government-appointed panel to review PPP framework submits report to FM Arun Jailtley
A
government-appointed panel to review the public-private-partnership (
PPP) framework has submitted its report to finance minister Arun
Jaitley, setting the stage for a major revamp of policy to attract
private investment in infrastructure. Economic Affairs Secretary
Shaktikanta Das said the government will consider the committee's
recommendations soon. "I would not like to specify a timeline to
implement the report because we have to go through the report and we
have to see what [….] Read more at:
India and Brazil decide to boost trade ties
Aiming
to scale up economic engagement, India and Brazil today decided to
boost ties in sectors like infrastructure, trade and investment and
mining besides exploring opportunities in nuclear energy sphere. At the
seventh India-Brazil Joint Commission Meeting (JCM), co-chaired by
External Affairs Minister Sushma Swaraj and her Brazilian counterpart
Mauro Vieira, both sides resolved to exploit the "full potential" of the
strategic partnership, with a particular focus on ramping up tr [….]
Read more at:
Indian sugar exports unlikely to trigger Brazilian discounts
An
expected influx of Indian sugar exports to the global market is
unlikely to spur rival exporters in Brazil to increase discounts because
Indian tonnages are likely to be moderate, European trade sources said on Thursday.
They said that shipments of Indian raw or low=quality white sugar for
export were likely to represent only a small fraction of Brazilian raw
sugar tonnages. "I don't think the Brazilians will discount further --
some 2 million tonnes a month of Brazilian raws are going out qu
[….] Read more at:
Gujarat to get 10 million sq ft of Green Building footprint in three years
Indian
Green Building Council (IGBC), part of CII and The Gujarat Institute of
Housing and Estate Developers (GIHED) aspire to facilitate construction
of 10 Million sq.ft. of Green Building footprint in next 3 years. The
duo on Thursday
pledged to promote Green Buildings in Gujarat during the inaugural
session of the 13th Edition of IGBC International Green Building
Conference in Gandhinagar, Gujarat. "IGBC envisions to facilitate 10
Billion sq.ft of registered green building footprint by th [….] Read
more at:
PFS, IIFCL collaborate to finance infra projects
PTC
India Financial Services (PFS) today said it has signed a pact with
India Infrastructure Finance Company (IIFCL) to provide financing for
infrastructure projects. As per the agreement, PFS and IIFCL will come
together to provide a single window to promoters of infrastructure
projects, particularly in energy sector, and facilitate their financing
in India, the company said in a statement. Under the MoU, both the
companies will collaborate to provide credit enhancemen [….] Read
more at:
Thanks & Regards,
Meetesh Shiroya
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