Page 11 - Banking Finance December 2016

ROUNDUP

INDUSTRY

NEWS
NEWS
NEWS
NEWS
NEWS

CBDT launches new rule Ramdev to set up Rs. 1200 cr plant in Assam
Yoga guru Ramdev's Patanjali Ayurved announced a Rs.
for computing income
1,2000 crore personal care and kitchen staples unit in
The Central Board of Direct Taxes has Soniptur's Balipara, less than 300 km from the Indo-Chinese
introduced border.
a new rule Patanjali's first foray in Assam was two years ago when it
44BB for set up a cow and panchagavya research centre over 484.93
computing hectare for the preservation and promotion of cow breeds and collection of
distributed
medicinal plants.
income
from the issue of shares following a Crackdown on black money to help financial system:
buyback, demerger, amalgamation
or bonus issue by companies. EU
Welcoming India's decision to withdraw high-value
SEBI committee for sec- banknotes as part of its fight to root out black
money, the European Union has said ridding the
ondary market
financial system of "black component" and bring-
SEBI has reorganised the committee ing transparency will strengthen Indian economy and spur growth.
that advises it on
matters related to Anti-dumping duty on China steel
the secondary mar- products
ket, including steps
Centre has imposed anti-dumping duty on imports of
to improve market
steel wire rods from China to protect domestic manu-
safety, efficiency and transparency. The
facturers from cheap inbound shipments.
panel is chaired by Jayanth R. Varma,
former wholetime member of Sebi.
Forex reserve rises to more than $ 350 billion
EPFO issue guidelines for The country's forex reserves rose by $1.07 billion to

settling death claims $368.231 billion for the week ended November 4 on jump
in currency assets. The total reserves had risen by $16 mil-
Retirement fund body EPFO has said lion to $367.157 billion in the previous report. Foreign cur-
that it has issued guideline to its field rency assets (FCAs), a major component of the overall re-
offices to settle death claims within serves, increased by $1.982 billion to $343.927 billion. Af-
seven days and retirement cases be- ter remaining unchanged for multiple weeks, value of the gold reserves slipped
fore a worker retires from the job. by $945.5 million to $20.46 billion, said RBI.

BANKING FINANCE | DECEMBER | 2016 | 11

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