Dabur to open new plant, invest Rs.500 cr
The Dollar Business Bureau In order to expand its manufacturing prowess, Dabur India Ltd is going to invest around Rs 500 crore this year. This comprises an amount of Rs 250 crore to establish a new manufacturing unit in Assam, for healthcare and personal products. The company said that its board on Thursday approved an investment of Rs 250 crore to set up a manufacturing unit at Tezpur, Assam, in order to meet the increasing demand for its products. The unit is expected to start the operations in 2017. The company will also use a portion of the investment to upgrade the capabilities of its facilities abroad. With 20 manufacturing units, Dabur operates 12 in India and the remaining in countries like Nepal, ...
Centre to pump in Rs 6,900 crore in select PSU Banks
The Dollar Business Bureau The Government has announced infusing Rs 6,900 crore in nine public sector banks. The key point is that this additional capital has been given on the basis of new criteria that comprise of efficiency parameters. State Bank of India has got the maximum amount followed by Bank of Baroda and Punjab National Bank. A Finance Ministry statement said banks that are more efficient would be rewarded with extra capital for their equity so that they can further strengthen their position. The methodology for calculating the amount to be infused involved two parameters. First, the weighted average of return on assets (ROA) for all PSBs for the last three years put together was arrived at and those above ...
Mumbai to be made a global financial hub: Sinha
The Dollar Business Bureau Emphasizing on ‘Why can't India become an international financial centre like Singapore and London?,’ the Indian Minister of State for Finance Jayant Sinha on Friday said that the Government of India mulls to develop Mumbai as a major international finance centre. Sinha also exuded confidence that the $ 2 trillion Indian economy will become a $ 4-5 trillion economy in the next 10-12 years, speaking at an event organized by the Indian Private and Venture Capital Association (IVCA) in Delhi. Referring to this as a right time when India is receiving good capital inflows, Sinha called for investments assuring investors of addressing tax issues in the upcoming budget. Earlier on Thursday, in a meeting with the Central Government ...
Foreign Exchange Management (Transfer or Issue of any Foreign Security) (Fifth Amendment) Regulations, 2014
Dated November 12, 2014 | Copy of | Notification No.FEMA.326/ RB-2014 In exercise of the powers conferred by clause (a) of sub-section (3) of Section 6 and sub-section (2) of Section 47 of the Foreign Exchange Management Act, 1999 (42 of 1999), the Reserve Bank hereby makes the following amendments in the Foreign Exchange Management (Transfer or Issue of Any Foreign Security) Regulations, 2004 (Notification No. FEMA.120/RB-2004 dated July 7, 2004), as amended from time to time, (hereinafter called the Principal Regulations or the Notification) namely:- 1. Short Title & Commencement (i) These Regulations shall be called the Foreign Exchange Management (Transfer or Issue of Any Foreign Security) (Fifth Amendment) Regulations, 2014. (ii) They shall come into force from the ...
