Sunday, May 20, 2012

Piramal Health set to acquire US based Decision Resources Group for 3,400 crore

Piramal Healthcare is set to buy the US based Decision Resources Group for 3,400 crore ($635 million). This marks the Group’s entry into the $5.7 billion healthcare information management business.

Independent member on GAAR panel

The Government will have an independent member on the approving panel for the General Anti-Avoidance Rules (GAAR). The approving committee will be headed by Director General of Income Tax.

Banks told to give farmers smart cards

The Reserve Bank of India has asked commercial banks, regional rural banks and cooperative banks to issue smart cards/ debit cards to farmers under the revised Kisan Credit Card (KCC) scheme so that they can access credit with ease. 
The RBI has announced a new KCC scheme based on the recommendations of a working group headed by Mr T.M. Bhasin, Chairman and Managing Director, Indian Bank.
The Scheme aims at providing adequate and timely credit for the comprehensive credit requirements of farmers under single window, with flexible and simplified procedure, adopting whole farm approach, including the short-term credit needs and a reasonable component for consumption needs, through Kisan Credit Card.

Infrastructure Excellence Award for Tata Power

Tata Power has been awarded the Infrastructure Excellence Award for its 4,000 MW ultra mega power project in Mundra, Gujarat.

SAIL inks MoU with Mongolia to develop coal reserves

Steel Authority of India Ltd (SAIL) has signed a memorandum of understanding (MoU) with Mongolian Ministry of Mineral Resource and Energy to help Mongolia to develop its coal reserves. Mongolia is the second such nation after Afghanistan where SAIL plans to develop coal reserves.  

Record NRI deposit in Indian Banks

Money that NRIs deposited to Indian banks tripled to a record $11 billion in 2011-12. The average NRI deposit in the previous five years was $2.9 billion. The record inflows came amid sharp depreciation of the rupee from 44.50 to a dollar to 51.10. 

Worth reading