From April 1,cheques valid for 3-months
New Delhi: Bankers cheques and other monetary instruments will have only a three-month validity starting from April 1,2012,instead of the existing six months. The change is consequent to an RBI notification issued on November 4,2011. Cheques,drafts and pay orders will have a validity for three months from the date they have been drawn.
Sensex shoots up 286 points on value buying
New Delhi: The BSE Sensex resumed on a subdued note but gained sharply to close at 17,601.71,up 285.53 points or 1.65 per cent from Tuesday. The NSE 50-share Nifty rose by 90.10 points to finish at 5,364.95.
RBI extends deadline for MFI provisioning norms
MumbaI: The RBI has deferred the deadline on implementation of asset classification and provisioning norms for non-banking financial company-micro finance institutions (NBFC-MFIs) to April 1,2013,from April this year.
Reliance Power obtains stay on Andhra project
New Delhi: Reliance Power on Wednesday said it has obtained an order from the Delhi High Court restraining any coercive steps against its 4,000 MW-power project in Andhra Pradesh.
Foreign fund buys R410 cr LIC Housing stake
Mumbai: Foreign fund house Copthall Mauritius Investments has bought 1.6 crore shares of LIC Housing Finance from the open market for about Rs 410 crore.
Telcos summoned by court for refusing portability
New Delhi: Bharti Airtel,Idea Cellular and Loop Mobile were on Wednesday summoned by a Delhi court for allegedly rejecting number portability requests from their subscribers in violation of the Trai regulations.