Other Briefings
India to Use Part of Coal Tax to Improve Power Transmission
The Indian government is considering spending part of its estimated Rs.25 billion-coal tax revenue on new power transmission lines, to help power distribution to every state from the clean energy projects.
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.
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 and China Call for More Banking Presence in Each Other’s Countries
Dec. 17 – The China Banking Regulatory Commission and the Reserve Bank of India signed a memorandum of understanding (MoU) on December 16, the second day of Chinese Premier Wen Jiabao’s visit to India, in order to spur on more mutual banking presence as well as financial cooperation. A joint statement was also issued after […]
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 […]
NGOs in India No Longer Need to Renew Tax Concession Status
Nov. 8 – India’s Central Board of Direct Taxes announced on Wednesday that non-governmental organizations, charitable institutions and other groups that are eligible for tax benefits and can issue tax benefit receipts to those who give donations will no longer need to renew their tax concession status every three years. In line with the mandate […]
