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Confident of clearing up the bad-loan mess, Reserve Bank of India (RBI) governor Raghuram Rajan on Friday said there is “absolutely no chance of a Lehman moment” in India, and a three-cornered firewall was being created to safeguard the economy from external shocks. He also rejected calls for any immediate privatisation of public sector banks and said the urgent need was to clean up their balance sheets. Rajan, who has often been criticised for being too economical with rate cuts, indicated that rate cuts were not the only instrument to boost growth. “I think the real way we are trying to firewall the economy is, on the first hand, with good policies, including as I said, the moves on reforms that have been enacted recently. The second is by trying to increase the maturity of our debt. We have substantially increased the maturity of debt, external debt that we owe. The third is we built-up reserves,” he told CNBC. Asked about bad loan problem in India being bigger than the size

Trademark registration in just one month, check on film & music piracy India unveiled a comprehensive Intellectual Property Rights (IPR) policy on Friday aimed fostering innovation, cutting delays in clearing patent, trademark and copyright applications, protecting traditional knowledge and encouraging entrepreneurship. The National Intellectual Property Rights policy, which the Cabinet approved on Friday, will likely bring India’s IP regime in line with global standards and help improve its ranking in the World Bank’s Ease of Doing Business index. The new policy will also help substantially cut the time taken on clearing the backlog of intellectual property rights (IPR) applications from the current five to seven years to 18 months by March 2018. Trademark applications will likely get approved in one month by 2018, from 13 months currently. “The policy aims to create and exploit synergies between all forms of intellectual property (IP), statutes concerned and agencies,

www.caonline.in News.. 1. CIT of ICAI is organising a seminar on forensic accounting and fraud prevention on 28th May 2016 from 9.30AM to 6PM at Hotel Le Meridien, New Delhi. 2.NIRC of ICAI is organising two days workshop on AS, IND AS and IFRS on 18 and 19 May from 5PM-8.30PM at ICAI Bhawan,Vishwas Nagar, Delhi. 3.FEM (exports of goods and services) regulations, 2015. Notification no. RBI/2015-16/395A.P. (DIR series) Circular No.68 [(1)/23(R)] dated may 12, 2016. 4.Primary agricultural credit society can claim deduction u/s 80P. [ The Chirakkal service Co-Operative Bank Ltd vs. CIT (Kerala HC)]. 5.Exercise of Sec. 263 on expenses claim withdrawn by assessee valid. [Commissioner of Income Tax vs.Amitabh Bachchan (SC)]. 6.Rajya Sabha passes the insolvency and bankruptcy bill and the finance bill 2016 on wednesday, 11th May, 2016. 7.Changes in VAT rate schedules w.e.f 10.05.2016. VAT rates on sweets and namkeen, marble, footwear, e-rickshaws reduced to 5%. DVAT Notification dated

India's market regulator is said to be considering more stringent rules for participatory notes as part of efforts to check the flow of black money into stock markets. Previous moves to intensify scrutiny of the instruments, which afford a greater degree of anonymity than other avenues of investment, have alarmed investors into pulling their money out or threatening to do so. The Securities and Exchange Board of India (Sebi) is now looking to make it mandatory to collect `know your client' (KYC) details of participatory note (P-Note) holders and is likely to take a decision to this effect at its board meeting scheduled for May 20, said people familiar with the matter. Experts said the move is likely to help hasten the eventual phasing out of participatory notes altogether. The regulator has also proposed that offshore derivative instruments (ODIs) be transferred only to subscriber entities eligible to invest in them as per Indian regulations. Sebi didn't respond to quer

India’s economy is expected to grow at 7.3% this year, with the prospects of the South Asian region will be “contingent” on the growth trajectory of the country and Iran, according to United Nations report released on Thursday. The World Economic Situation and Prospect report, in its mid-2016 update, said, notwithstanding delays in domestic policy reforms, India’s economy is “slowly gaining momentum” and is expected to achieve a 7.5% growth in 2017. “Despite some delays in domestic policy reforms and enduring fragilities in the banking system, investment demand is supported by the monetary easing cycle, rising FDI, and government efforts towards infrastructure investments and public-private partnerships,” the report said. China, which grew at 6.9% in 2015, will continue to witness slowdown in growth, with its GDP projected to grow 6.4% in 2016 and 6.5% in 2017. “A larger- than- expected slowdown in China would have spillover effects through trade, financial and commodity mark

The Delhi government wants all registered traders to display their certificate of registration and tax identification number (TIN) prominently outside their business places. The trade and taxes department on Tuesday issued a circular to all assistant commissioners and the ward in-charges to ensure all registered dealers prominently displayed the registration certificates. “Further, the dealer shall prominently display his TIN and ward number outside the main entrance of all places of business in Delhi,” the government circular read. “All the AC s / ward in charges are further directed to ensure strict adherence to the above directions by ensuring compliance by all dealers within their respective jurisdiction,” the order read. All traders with an annual THE GOVERNMENT ORDER turnover of over  Rs.20 lakh have to register themselves with the trade and taxes department. Sources said the effort would help the government identify unregistered traders and bring them under the tax net

To cover all listed companies; Sebi might set minimum terms Upping the corporate governance ante, capital market regulator Securities and Exchange Board of India (Sebi) plans to make dividend disclosure policy compulsory for listed companies. The move is aimed at helping ordinary shareholders understand how much dividend they can expect from a company. At present, it is not mandatory under any regulations for companies to declare dividends or to even have a policy, although a handful of companies have voluntary formulated such a policy. Sebi has no plans to force any company to pay dividends, but would set broad policy terms for companies, said sources. The regulator wants companies to disclose circumstances and financial parameters under which they can or cannot pay dividends. Also, Sebi would ask companies to state what they intend to do with their retained earnings if they don't wish to pay dividends, people with knowledge of the development said. (WHAT INDIA INC PAYS) D