Updates from F4F

---

• Industry to maintain Growth Momentum of Double Digit: Montek
• Banks Commercial activities cannot be Supervised by MPs: FM
• IFRS Switch: 400 Firms to shift to new system in First Phase
• Banks are seeking Govt. permission for Issuing Tax-Free Bonds
• I-T Arrears Data to be Analysed, Segregated for proper Follow ups
• Banks Liable to Compensation for Wrong Payment: SC
• ASBA Facility extended to Corporates, HNIs by SEBI
• Cap on Number of Directorships Tenure for Individuals recommended by ICSI
• Discussion on Opening up of Accountancy Services between India UK
• RBI Reference Rate for US $ and Euro – 11th December 2009

Industry to maintain Growth Momentum of Double Digit: Montek Posted: Attributing the double digit industrial growth rate to stimulus packages, the Planning Commission today said the growth momentum would be maintained in the coming months. "... To get a growth rate well above 10 per cent is not just a base effect. There is an element growth that is taking place, ... (This is a just a summary, read the full article at www.forum4finance.com)

Banks Commercial activities cannot be Supervised by MPs: FM Posted: The government today shot down a suggestion in the Lok Sabha for setting up a committee under the Member of Parliament in respective constituencies for monitoring disbursement of loans by banks to priority sector like agriculture, small and medium enterprises. "My response is no. We cannot allow commercial activities of banks ... (This is a just a summary, read the full article at www.forum4finance.com)

IFRS Switch: 400 Firms to shift to new system in First Phase Posted: The corporate affairs ministry and the Institute of Chartered Accountants of India (ICAI) are confident of meeting the April 2011 deadline to shift to International Financial Reporting Standards (IFRS). But industry says a complete transition from Indian Generally Accepted Accounting Principles (GAAP) to IFRS may take time. Auditing professionals say unless amendments ... (This is a just a summary, read the full article at www.forum4finance.com)

Banks are seeking Govt. permission for Issuing Tax-Free Bonds Posted: Banks are making a strong pitch to the government for permission to issue tax-free bonds to fund infrastructure projects. Bankers, who are expected to again take up the issue with the finance ministry next week, are arguing that the bonds will help them raise long-term resources and reduce dependence on retail ... (This is a just a summary, read the full article at www.forum4finance.com)

I-T Arrears Data to be Analysed, Segregated for proper Follow ups Posted: Income-tax arrears against assessees — of Rs 2,01,276 crore as on March 31, 2009 — have once again become an issue, as Parliament's standing committee on finance has asked the Department of Revenue and the Central Board of Direct Taxes (CBDT) to put in place a Management Information System (MIS) ... (This is a just a summary, read the full article at www.forum4finance.com)

Banks Liable to Compensation for Wrong Payment: SC Posted: The Supreme Court has held that banks are liable to compensate a customer whose money is wrongly paid to another person without verifying the original signature of the account-holder as it amounted to deficiency of service. A bench of Justices D K Jain and T S Thakur said the bank was ... (This is a just a summary, read the full article at www.forum4finance.com)

ASBA Facility extended to Corporates, HNIs by SEBI Posted: The market watchdog SEBI today extended the ASBA (application supported blocked amount) facility to corporate investors and high Investment networth individuals (HNIs) to enable them to apply for IPOs or rights issue by keeping the application money in their bank accounts till allotment. Currently, this facility is available only to retail ... (This is a just a summary, read the full article at www.forum4finance.com)

Cap on Number of Directorships Tenure for Individuals recommended by ICSI Posted: The Institute of Company Secretaries of India (ICSI) has recommended to the Government that the maximum number of listed companies where one can be a director be restricted to seven. ICSI has also mooted capping the tenure of independent directors at six years. In its report on 'Strengthening Corporate Governance Framework' ... (This is a just a summary, read the full article at www.forum4finance.com)

Discussion on Opening up of Accountancy Services between India UK Posted: The issues of opening up of accountancy services in India and recognition to Indian accountancy professionals in the UK are likely to get a push at the forthcoming India-UK talks on Corporate Governance. The key issue will be the reciprocal recognition to the members of the Institute of Chartered Accountants of ... (This is a just a summary, read the full article at www.forum4finance.com)

RBI Reference Rate for US $ and Euro – 11th December 2009 Posted: The Reserve Bank of India's Reference Rate on December 11, 2009 for the US dollar is Rs. 46.52 for Euro is Rs. 68.55 The corresponding rates for the previous day (December 10, 2009) were Rs. 46.72 and Rs. 68.73 respectively. (This is a just a summary, read the full article at www.forum4finance.com)

[ Click Here to Get Your Daily Weekly Updates from Forum4Finance.com ]

__._,_.___

Messages in this topic (1)

Recent Activity:

• New Members 31

DISCLAIMER
AURANGABAD_CA is a Yahoo Group for the benefit of CA and other professional. It is especially meant for written discussion within group members and circulate the information among its members. The mail may contain such research/advice/opinion/information/fact provided by any member or moderator and every contain of the mail or information of yahoo is always subject to the Accuracy and of the description of facts.

The Aurangabad_CA , its moderator/owner do not claim that contains in mail/information obtained after reading as a complete and accurate disclosure of relevant fact(s).

Considering all above facts m the transaction based on above mail may not complete without confirming  proper statue/authority/person. Therefore any action/transaction taken on basis of this mail do not imply the accuracy or value . Further this Group�s Owner/Moderator/Member  are not liable for any damages or costs suffered due to action/transaction based on information on this Yahoo Group.

For Seeking any Clarification you may mail only to  Group Moderator on
girishkulk@gmail.com