Business News – Weekly Newsletter for March 14-21, 2011
The Jai Bhavani Sahakari Bank Limited, Pune ??? Penalised
The Reserve Bank of India has imposed a monetary penalty of ` 1.00 lakh (Rupees one lakh only) on The Jai Bhavani Sahakari Bank Limited, Pune, in exercise of powers vested in it under the provisions of Section 47(A)(1)(b) read with Section 46(4) of the Banking Regulation Act, 1949 (AACS) for violation ... Read more : The Jai Bhavani Sahakari Bank Limited, Pune ??? Penalised.
Business News – Weekly Newsletter for March 7-14, 2011
RBI sets up Working Group to examine Issues relating to NBFC Sector
The Reserve Bank of India has constituted a Working Group under the Chairmanship of Smt. Usha Thorat, Director, Centre for Advanced Financial Research and Learning (CAFRAL) to examine a range of emerging issues pertaining to regulation of the NBFC (non-banking financial companies) sector.
The NBFC sector in India has .... Original article : RBI sets up Working Group to examine Issues relating to NBFC Sector.
Business News – Weekly Newsletter for March 1-7, 2011
221 mn Chinese travelled by train during spring festival
BEIJING - A whopping 221 million people travelled by train during China’s spring festival, which is also the largest migration of people anywhere in the world.
The railway ministry Monday said the trains carried a record 221 million passengers during the 40-day Spring Festival travel rush period that ended Sunday.
The figure represents an increase ... Read more : 221 mn Chinese travelled by train during spring festival.
Business News – Weekly Newsletter for February 21-28, 2011
RBI Advisory on Overseas Forex Trading through Electronic / Internet Trading Portals
The Reserve Bank of India has today clarified that remittance in any form towards overseas foreign exchange trading through electronic/internet trading portals is not permitted under the Foreign Exchange Management Act (FEMA), 1999. The Reserve Bank has also clarified that the existing regulations under FEMA, 1999 do not permit residents to ... Read this article on Gaea Times at : RBI Advisory on Overseas Forex Trading through Electronic / Internet Trading Portals.
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