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Bank mergers: Approval from two-third board members must
THE Reserve Bank of India has stipulated that merger of banks should have the consent of two-third majority of the members of their boards and not just those present at the board meeting alone. Those directors who participate in such meetings ... More

Textile firms going in for vertical integration
INDIAN textile firms are increasingly going in for vertical integration across the entire value chain, mainly to tackle the post-quota abolition induced squeeze on margins. Delhi-based Ginni Filaments, K.K. Birla group company Sutlej ... More

Facsimile editions of foreign newspapers may be allowed: GoM
THE Group of Ministers (GoM) on print media today recommended allowing printing of facsimile editions of foreign newspapers in India and hiking the syndication levels in Indian newspapers. While the Group has not recommended any increase in the ... More

Govt looking at options for FDI in retail
THE Government on Thursday said it was considering several options in a bid to modernise the retail sector, including opening it up to foreign direct investment, provided the existing "set-up" is not displaced. Speaking to reporters after an ... More

Compulsory auditing for charitable educational bodies, hospitals likely — Taxation laws amendment Bill introduced in LS
THE Government proposes to tighten control over educational institutions and hospitals that are currently availing various income-tax exemptions for their charitable activities. Educational and medical institutions operating as not-for-profit ... More

Reliance Info bags BSNL contract
INTERNATIONAL long distance (ILD) telephone tariffs are set to fall with Reliance Infocomm bagging the contract from Bharat Sanchar Nigam Ltd for carrying ILD traffic. Reliance has offered 83 paise per minute across five sectors, including the US ... More

Excise dues: Taxmen may get powers to attach property
THE Government proposes to empower the tax authorities to resort to provisional attachment of property in certain cases of default in payment of excise dues. This move is being considered to protect the revenues of the government in certain ... More



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