INDIA BUSINESS WORLD - 16th March TO 31st March 2009
THE MONTH THAT WAS...
News & important developments from the most prospective of the New World markets. India. Our effort is to provide you with the latest and relevant developments that take place in the Indian business, economic and legal environment.
ECONOMIC & LEGAL NEWS
HDFC CUTS RATES FOR EXISTING CUSTOMERS : HDFC, the country’s largest housing finance company, has announced a 50 basis point reduction in its retail prime lending rate (RPLR) to 14%...........More....
GOVERNMENT RECOVERS RS 18K-CR TAX BY TAXMEN FROM REGULAR TAX PAYERS AND CORPORATE ASSESSES : The government’s direct tax collection of Rs 3,12,000 crore as of March 17 includes Rs 18,000 crore ......More....
SOYABEAN OIL DUTY SCRAPPED : The government has scrapped the 20% Customs duty on crude soyabean oil ..........More....
RESERVE BANK OF INDIA OKAYS HIGHER PROVISION FOR BAD LOANS : THE Reserve Bank of India has allowed banks to make higher than mandated provisioning for non-performing assets (NPAs), or loans that have turned bad.........More....
EXPORT OBLIGATION WAIVER TO BE EASIER NOW : The revenue department will no longer have the powers to decide on export obligation waivers against concessional imports...........More....
STATEMENT OF FINANCE MINISTRY ON INFLATION : Annual (year-on-year) rate of inflation declined to 0.4 per cent for the week ended March 7, 2009 from 2.4 per cent in the week ended February 28, 2009...........More....
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