India Becomes Member of Financial Action task Force
Jul 28, 2010 Finance
India has become a member of elite global body Financial Action Task Force (FATF), a standard setting body to combat money laundering and terror financing. Membership of FATF has been granted to India in its Plenary held in Amsterdam, Netherlands from 23rd to 25th June, 2010.
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Tags: European Commission and Gulf Cooperation Council, FATF, financial action task force
Bombay High Court Rules Overdraft facility can’t be attached for tax recovery
Jul 27, 2010 Finance
The taxman does not have claim over the bank overdraft facility of a defaulter since the lender does not owe money, but has promised a loan for business, the Bombay High Court has ruled. By taking an overdraft facility, a taxpayer becomes a debtor to the bank and hence, no authority has the right to attach overdraft facility for recovering tax dues, the court said in an order dated July 8.
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Tags: bombay high court, commercial tax, Income tax department
Jobless US
Jul 23, 2010 Finance
The global powerful financial houses and banking giants needs a chemical to wash their foresight about the world economic recovery and GDP growth numbers projected by them in the last term. The International Monetary Fund (IMF) lifted China’s GDP growth forecast for 2010 to 10.5 percent from the earlier projection of 10 percent. IMF has raised its world economic growth forecast from 4 per cent to 4.5 per cent.
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Tags: Brazil, europe, gdp growth, IMF, International Monetary Fund, Japan, United States
Real Estate- Wait and Watch
Jul 21, 2010 Finance
One of my friend who is a well renowned real estate promoter was struggling to pay his bank loan in the year 2008 when the recession have touched the shores of Indian real estate business. He had to almost sell all his properties of his own to pay back the loan of the bank.
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Tags: dlf, real estate, residential and commercial properties, unitech
All about Credit Rating in brief
Jul 21, 2010 Finance
Anand Wadadekar
Credit rating is the opinion of the rating agency on the relative ability and willingness of the issuer of a debt instrument to meet the debt service obligations as and when they arise.
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Tags: CARE, cibil, credit rating, credit rating agency, FITCH, ICRA
Type Rupee symbol on computer and download Rupee symbol font
Jul 19, 2010 Finance
Mangalore based Foradian Technologies Pvt. Ltd has made it possible for users to use the new Rupee symbol by creating a font called Rupee-Foradian
Follow the below steps to Use the new Rupee symbol right away!
- Visit Foradian company’s blog http://blog.foradian.com and download the font to your system. Copy it to
C:/windows./Fonts folder on your computer.
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All about Commodity Futures & Interest Rate Derivatives
Jul 17, 2010 Finance
COMMODITY FUTURES
1. History:-Futures Trading in Commodity is a natural outgrowth of the problems of maintaining and managing supply of Agricultural Products and other commodities. Worldwide there are many exchanges operating in commodity futures.
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Tags: commodity exchange, Commodity Future Contracts, Commodity Futures, interest rate derivatives, interest rate option, Interest Rate Swaps
A study on Valuation of Business
Jul 17, 2010 Finance
Vishal Thakkar
1. BUSINESS
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The etymology of “business” relates to the state of being busy either as an individual or society as a whole, doing commercially viable and profitable work. The term “business” has at least three usages, depending on the scope — the singular usage (above) to mean a particular company or corporation, the generalized usage to refer to a particular market sector, such as “the music business” and compound forms such as agribusiness, or the broadest meaning to include all activity by the community of suppliers of goods and services.
Tags: Asset Valuation Method, Balance Sheet Method, Capitalization methods, Discounted Cash Flow (DCF) Method, DIVIDEND CAPITALIZATION, Documentation and Reporting, INCOME CAPITALIZATION VALUATION METHOD, Liquidation Value, Market Multiple Method, the Net Asset Value Method
Acquisition of State Bank of Indore by State Bank of India approved
Jul 16, 2010 Finance
The Union Cabinet today approved the acquisition of State Bank of Indore by State Bank of India (SBI) and also accorded `in-principle’ approval to introduce a Bill in the Parliament for making consequential amendments in the State Bank of India (Subsidiary Banks) Act, 1959, to remove references of State Bank of Indore.
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Tags: acquisition, state bank of india, state bank of indore
Symbol for Indian Rupee approved
Jul 16, 2010 Finance
The Union Cabinet today approved the symbol for the Indian Rupee. This symbol will be used by all individuals/entities within and outside India after its incorporation in `Unicode Standard’, ‘ISO/IEC 10646’ and ‘IS 13194’.
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Tags: Bureau of Indian Standards, indian rupee, Manufacturers’ Association for Information Technology, Nepal, Pakistan, rupee, Rupiah, Sri Lanka, Unicode Standard