Latest Expert Exchange Queries
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) | Service Tax | Sales Tax | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Indirect Tax | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing
Popular Search: form 3cd :: ARTICLES ON INPUT TAX CREDIT IN VAT :: empanelment :: ACCOUNTING STANDARDS :: VAT RATES :: list of goods taxed at 4% :: cpt :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: TDS :: VAT Audit :: ACCOUNTING STANDARD :: due date for vat payment :: articles on VAT and GST in India :: Central Excise rule to resale the machines to a new company :: TAX RATES - GOODS TAXABLE @ 4%
« General »
 Banks warn share tax hike threatens Paris' post-Brexit appeal
 PMC may decide on property tax rebate for IT firms this week
 I-T Dept is giving out certificates of appreciation. Have you received yours?
 Government works on ironing out benefits refund mechanism for exportersa
  Tax officials are using an IDS provision to question transactions beyond six-year-limit
 Tax-free bonds rally like midcap funds
 Senior citizens do not have to pay advance tax on salary and interest income
 GST: Audit commissioners to get adjudication powers
 Interest on NRE rupee account can be exempt from tax under FEMA
 Impact of GST on Real Estate Sector
 GST regime: Tax payers allowed to take option of third-party interfaces

RBI hikes oil PSU ceiling of open mkt ops to Rs 1,500 cr
June, 12th 2008

On a review of the recently announced operations of Special Market Operations (SMOs) exclusively for public sector oil Companies to meet the unprecedented escalation in international crude oil prices, Reserve Bank of India has decided to enhance the overall ceiling of open market operations to Rs 1,500 crore on any single day.

The RBI had decided on May 30, to put in place a SMOs for the smooth functioning of state owned oil Companies as well as financial Markets.

Oil CompaniesIOC, BPCL and HPCL were together selling oil bonds upto Rs 1,000 crore a day to RBI and were getting foreign exchange for importing crude oil. However, IOC being the country's largest importer of crude oil had represented to RBI that it needs more forex to carry out its crude oil import transactions.

The central bank's move to increase the limit to Rs 1500 crore a day will help all three oil Companies meet their daily requirement of foreign exchange. We have already sold oil bonds worth $800 million since the first RBI notification. Currently, the avilability of oil bonds for sale to RBI is only till June end. We require more oil bonds to liquidate with RBI for getting sufficient forex for our crude oil import requirements, director (finance), IOC, SV Narasimhan told FE.

Home | About Us | Terms and Conditions | Contact Us
Copyright 2016 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Publishing Management System PMS News Management System Publishing Management System Development Online News Management System for media company custom Publishing management system development Survey management system Market Res

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