Other Briefings
India Puts Accounting Practices in Line with International Standards
The Indian Ministry of Corporate Affairs recently said that it had aligned 35 Indian accounting practices with international standards, marking an important step to bringing International Financial Reporting Standards (IFRS) …
Indian 2011/12 Budget Good for Foreign Investment
Mar. 1 – Finance Minister Pranab Kumar Mukherjee presented the Union Budget for 2011/12 this past Monday. The budget focuses on finding a balance between controlling inflation and maintaining economic growth. Good news for foreign investors comes in the form of no drastic changes in taxation rates, no negative indications, and no major reform agenda. […]
RBI Relaxes Lending Rules for Bank Loans to Microfinance Institutions
The Reserve Bank of India temporarily relaxed lending rules for bank loans to microfinance institutions, allowing banks to continue offering loans to the ailing sector. The RBI will, for a short period of time, permit banks to classify loans that might be delinquent as standard to introduce some liquidity into the industry.
Delhi High Court Upholds ICC Decision Favoring American Company
Jan. 19 – In a recent ruling, the Delhi High Court upheld the enforcement of a decision made by the International Chamber of Commerce in Paris, a body that arbitrates disputes between international firms. The dispute was between the American firm Penn Racquet Sports and an Indian company, Mayor International Limited, and ICC’s decision awarding […]
Cash Shortages Hit Indian Banks
Dec. 22 – Indian banks may recently be experiencing a cash crunch caused by the increasing borrowings of domestic companies since July this year. The shortage has increased the repo borrowings by banks as well as the interbank loan interest rates, according to a December 21 report on Times of India (TOI). On December 20, […]
India Issues ‘Project Visa’ for Foreign Workers in Power and Steel Sectors
Dec. 13 – The Indian government has recently introduced a new type of visa – the “P” (Project) Visa – within the employment visa regime for foreigners who come to India for the development of projects in power and steel sectors. Currently the new visa does not apply to foreign employees in other sectors. Conditions […]
Bill to Allow Options Trading, Commodity Derivatives Introduced
Dec. 7 –The Minister of State for Agriculture K.V. Thomas introduced in Lok Sabha on Monday a new bill that would allow trading in options in goods and would likely lead to the development of new commodity derivatives that will provide a wider set of opportunities to investors for risk management. The bill would also […]
RBI Governor Asks for Interest Rate Reform, Pitches Regulatory Changes
Dec. 6 – The governor of the Reserve Bank of India asked banks to raise deposit rates and lower lending rates on Friday to improve the efficiency of Indian banks against global competitors. “We need to raise the level of national savings and channel those savings into investment. This means banks need to raise the […]
