Briefly Business: SC seeks TRAI response on connection guidelines

SC seeks TRAI response on connection guidelines

Written by Press Trust Of India | Published: January 4, 2012 12:41:35 am

SC seeks TRAI response on connection guidelines

New Delhi: The Supreme Court Tuesday sought response of the Telecom Regulatory Authority of India (TRAI) on the guidelines framed by the Centre for tightening the process of verification for providing pre-paid and post-paid connections by mobile phone operators.

Govt starts auto service tax refund for exporters

New Delhi: The government on Tuesday linked service tax refund for exporters to electronic payment system and fixed the rate of tax refund between 0.03 per cent to 0.20 per cent of the freight value for a wide range of goods exported from India.

ICICI Bank ready to join Facebook

New Delhi: ICICI Bank will soon join Facebook,where it plans to allow its customers to access their bank accounts,among other services. “The ICICI Bank page will include a one-of-its kind ‘Your Bank Account’ app through which you can access your bank account information while on Facebook,” the bank’s Executive Director Rajiv Sabharwal said.

Reserve Bank to conduct another OMO

mumbai: The Reserve Bank of India on Tuesday decided to conduct another open market operation (OMO) to inject more liquidity into the system. The RBI will buy up to Rs 12,000 crore of government bonds via open market operations on Friday,including the 10-year paper which till recently was the benchmark paper.

Rita Menon takes over as ITPO chief

New Delhi: Rita Menon,former Textiles Secretary,on TUesday took over as the CMD of the India Trade Promotion Organisation (ITPO),which organises exhibitions and trade fairs. She succeeds Rajeev Kher,Add Secretary in the Commerce Ministry,who was officiating as the CMD of the organisation since August,2011.

SBI calls off business JV with Visa,Elavon

new delhi: State Bank of India (SBI) has cancelled a proposed merchant acquiring business joint venture with US-based Elavon Incorporation and Visa International.

Cos Bill may be cleared in Budget session: Moily

kolkata: Corporate Affairs Minister Veerappa Moily on Tuesday said the Companies Bill is expected to be cleared in the forthcoming Budget Session despite its withdrawal after being tabled in the winter session.

Adani Power shortlisted for 4 overseas projects

New Delhi: Adani Power has been shortlisted to develop four overseas projects worth nearly Rs 19,000 crore and having a total capacity of 3,792 MW. The company has been shortlisted for developing power projects in Kosovo,South Africa and Nigeria,sources said.

Cabinet likely to clear new routes for disinvestment

New Delhi: The Cabinet is likely to give a go-ahead to the the Department of Disinvestment’s proposal for buyback of government equity by state-owned companies,a move that will help the Centre to meet its disinvestment target of Rs 40,000 crore in 2011-12.

“The buyback issue would be placed before the Cabinet Committee on Economic Affairs (CCEA) for appropriate decision,” sources said. The CCEA would also consider the possibility of LIC,PSU banks or entities to buy government stake in Central Public Sector Enterprises. The disinvestment department has also suggested promoting cross-holding of equities between CPSEs,which would help the government raise money without diluting its holding in such PSUs.

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