Latest Expert Exchange Queries

GST Demo Service software link:
Username: demouser Password: demopass
Get your inventory and invoicing software GST Ready from Binarysoft
sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing | GST - Goods and Services Tax
Popular Search: ACCOUNTING STANDARD :: TDS :: VAT Audit :: ARTICLES ON INPUT TAX CREDIT IN VAT :: empanelment :: form 3cd :: list of goods taxed at 4% :: Central Excise rule to resale the machines to a new company :: cpt :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: TAX RATES - GOODS TAXABLE @ 4% :: due date for vat payment :: VAT RATES :: ACCOUNTING STANDARDS :: articles on VAT and GST in India
« Budget Extravaganza »
 Will Budget 2018 cut tax on switch from dividend to growth option in mutual funds?
 Startup eco-system looks forward to the budget for addressing tax dilemma
 High time to prioritise non-tax revenue in the Budget
 Govt may abolish dividend distribution tax in budget
 Budget making in the GST era: paradigm shift
 Budget 2018: Section 80C limit may be increased
 Middle Class Can Hope For A Big Tax Relief In Budget 2018-19, Says Report
 Startup investors seek abolition of angel tax in Budget 2018-19
 Budget 2018 must avoid the temptation to bolster government revenues myopically
 How GST has taken away the wind out of the Union Budget presentation
 Seeks to amend certain customs notifications in pursuance to change made in Budget 2017-18.

Pranab Meets SEBI, RBI Heads
March, 12th 2010

Granting bank licenses to private entities and Non-banking financial companies, smooth conduct of Government borrowing next fiscal and investor safety issues topped the agenda in Finance Minister Pranab Mukherjees meetings with the heads of Reserve Bank of India and Securities and Exchange Board of India Mar. 6.

Mukherjee, who had announced in the Budget that new private entities and NBFCs would be considered for entry into banking, discussed the issue with the apex bank which will be the ultimate authority on licensing new entities.

I said that when the proposal (for new licenses) will come it will be considered in consultation with the Reserve Bank of India...of course, they (new entities) have to meet the criteria (laid down) by the RBI, Mukherjee said.

Following the Budget announcement, many corporate groups including Reliance, Aditya Birla group, Tata Group, Bajaj and Muthoot, had expressed their intention to apply for a banking license, once the RBI came out with its new set of guidelines.

The RBI has not issued any new bank licenses after 2004, when it permitted Yes Bank to start operations.

RBI Deputy Governor Usha Thorat had made it clear after the Budget that the central bank would not deviate from its long-followed principles of ownership and governance while framing the norms for new bank licenses.

We have to work on the eligibility criteria. Its a long process and will take some time. I think the basic principles of ownership and governance will remain unchanged because they are absolutely sacrosanct and very useful. They have stood the test of time, Thorat had said.

Concerns also exist about the appropriateness of allowing business groups to enter banking as it could result in a conflict of interest.

The Finance Minister also discussed the governments borrowing program for FY11 with the RBI Governor. Both parties exuded confidence that the borrowing would be conducted smoothly and that the program would not be allowed to crowd out private demand.

The borrowing program would be done in consultation with the RBI, the Finance Minister said, adding we have assured RBI that government borrowings will not affect access to private credit.

The governments gross borrowing in FY 11 is likely to be around Rs 4.5-lakh-crore, which is marginally higher than this years.

Home | About Us | Terms and Conditions | Contact Us
Copyright 2018 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Bath SEO Company Birmingham SEO Company Bradford SEO Company Brighton and Hove SEO Company Bristol SEO Company Cambridge SEO Company Canterbury SEO Company Carlisle SEO Company Chester SEO Company Chichester SEO Company Coventry SEO Compan

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions