Ø As per one recent E&Y report India is still the hot spot for foreign Investment.
Ø SEBI will announce the detailed guidelines for “IPP” (Institutional Placement Program) in the next 3~4 days. This is a new Window created by SEBI for fast track disinvestment of shares by Promoters (including PSU).
Ø The success of Food security Bill has been questioned by none other than the Agriculture Minister. Food Security Bill which is presently been referred to the Standing committee is proposed to give legal right to almost 65% of the Indian people to get food grain at low price
Ø India has signed International Tax treaty to deal with Tax Matter. Keeping in mind the Complexity of the Tax and operation of Companies in multiple Countries various Countries are shifting the arrangement from Bi lateral treaty to multilateral treaty. This Treaty has 31 signatories Countries
Ø As per the latest CII survey for the December, 2011 Quarter the Business confidence has declined. . The index has declined by 5% to 48.6% from 53.6%.
Ø The Bilateral Trade between India & China has touched a new high in 2011 touching US$73 Billion from last year US$61 Billion in 2010. The Trade deficit has touched US$ 27 Billion in China Favor in 2011.
Ø At the World Economic Forum at Davos , Japanese PM has announced about the commitment/ support being planned by Three major Asian Countries ( Japan , China , India ) to avert the Euro zone crisis and stop spreading its impact to other region
Ø Finance Ministry has decided to Levy Anti Dumping Duty on Murphilin being imported from USA, Euro Zone & China. It is a chemical intermediary used in Rubber Industry.
Ø To ease the Liquidity deficit in the Banking Industry, RBI has decided to introduce a second Window of LAF (Liquidity Adjustment facility). It will be open on each Friday for 30 Minutes in the afternoon 4:30~5:00 PM. Presently RBI has single windoe daily in the Morning hour for injection of Fund through Repo window for one Hour 9:30~10:30 AM
Ø IRDA has issued guidelines for IPO by Life Insurance Company. Accordingly only Company having 10 years operation can come out with IPO.
Ø Government ( PM in particular ) has set up a committee to frame guidelines for bringing reform in the much awaited Sugar Industry which is under State control for a long time .
Ø Euro Currency has bounced back and has reached to 7 weeks high of 1.32 against USD amid hope that Greece problem will be resolved through discussion with Creditors
Ø All the Asian Currencies are rising against USD due to Inflow expectation as Federal reserve has kept the interest rate fixed till 2014 . Prominent gainer are INR and Ringit.
Ø RBI has simplified certain procedural guidelines of ECB loan .Power has been delegated to AD , which were earlier been referred to RBI . It pertains to cancellation of Loan Registration Number (LRN) and end use of Funds .
Ø RBI has issued clarification on interest rate liberalization in Savings Bank account . The interest rate liberalization is applicable only for Savings a/c maintained by Resident India in India and not outside India. Furthur interest will be calculated at day end balance in less then 1 lakh category and more then 1 lakh categotry.
Ø RBI has reduced the CRR to 5.5% from 6% to improve liquidity in the market . The liquidity situation is out of comfort zone and RBI is taking steps to improve it
Ø USA has registered GDP growth of 2.8% in Q4 as against 1.8% in Q3 2011 . Yearly basis the GDP growth in 2011 ended at 1.7% as against 3% in 2010
Ø US Federal reserve has decided not to hike the interest rate (0%~0.25%) till late 2014 end
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