ECONOMY

Navratna status for RINL extended
• The ‘Navratna’ status of Rashtriya Ispat Nigam Limited (RINL), the corporate entity of the Visakhapatnam Steel Plant, has been extended till November 2013.
• RINL was accorded the status on November 16, 2010 with the condition that it would be listed on the
stock markets within 2 years. However, due to poor market conditions, the company deferred its initial
public offering (IPO) and was on the verge of losing its status.









Ban on export of select milk products goes
• The Directorate-General of Foreign Trade (DGFT) has lifted the ban on export of select milk products,
including whole milk powder and dairy whitener.
• In February 2011, the government had imposed ban on export of all kinds of milk products — skimmed
milk powder (SMP), whole milk powder (WMP), dairy whitener, infant milk foods, casein and casein
products — to boost domestic supply.
• The ban was, however, withdrawn in the case of casein in April and SMP in June this year.





Finance Minister unveiled a five-year roadmap for fiscal consolidation.
As per the roadmap, the fiscal deficit in 2016-17 will be reduced to _________?
[A]2.5 per cent
[B]3 per cent
[C]3.4 per cent
[D]3.8 per cent
3 per cent
As per the roadmap, the deficit is to be brought down to 4.8 per cent by 2013-14, to
4.2 per cent in 2014-15 and further to 3.6 per cent in 2015-16 and finally to 3 per
cent per cent in 2016-17.

Frauds caused Rs 6,600 cr loss to Indian Economy

November 2nd, 2012

As per the first edition of Ernst & Young’s Fraud Indicators in India, different types of frauds may have caused Rs 6,600 crore loss to Indian economy in the last fiscal and banks were the most common victim in scamming cases.

As per the report:

• 61 % of the frauds are insider enabled.
• Magnitude of frauds in the second half of FY2012 increased by 36 % over the first half, while the number of frauds rose by a mere 8% during the same period.
• Around 63 % of the total fraud cases in FY12 were reported in the financial services sector
• Banks were the most common victim of frauds followed by insurance and mutual fund companies.
• Losses incurred by banks due to fraud increased by 88%  in 2010-11 to exceed Rs 3,790 crore (more than Rs 2,010 crore in 2009-10).
• 79% of the major fraud cases (majority cases above Rs 100 million) were due to involvement of senior management of the company owing to their authority and direct interference in the company’s decisions.
• Delhi witnessed the largest number of fraud cases and highest aggregate losses by fraud in 2011-12.
• Delhi recorded the highest average losses (Rs 0.8 billion) followed by Rs 5 billion for Andhra Pradesh.
• Around 86 % of the total loss is cause by top 10 frauds amounting to a loss of Rs 5,670 crore
• The survey noted that a proactive Forensic Data analysis can assist governments, regulatory bodies and corporate to battle the increasingly complex nature of frauds.

term 'GNP' includes value of allgood sand services that

are produced By nationally owned resources worldwide

The Securities and Exchange Board of India (frequently abbreviated SEBI) is the regulator for the securities market in India. It was formed officially by the Government of India in 1992 with SEBI Act 1992 being passed by the Indian Parliament. SEBI is headquartered in the business district of Bandra Kurla Complex complex in Mumbai, and has Northern, Eastern, Southern and Western regional offices in New Delhi, Kolkata, Chennai and Ahmedabad.

Controller of Capital Issues was the regulatory authority before SEBI came into existence; it derived authority from the Capital Issues (Control) Act, 1947.

Initially SEBI was a non statutory body without any statutory power. However in 1995, the SEBI was given additional statutory power by the Government of India through an amendment to the Securities and Exchange Board of India Act 1992

Prof. mahalanobis-

Dr.V.K.R.V.RAO-COMPUTED NATIONAL INCOME ON THE BASIS OF SCIENTIFIC METHOD

DR.K.N.RAJ-

DR.VAKIL-

GOOD WILL- BALANCE SHEET

PURCHASER-TRADING ACCOUNT

REAL ACCOUNT-RELATING TO PROPERTIES AND ASSETS OF A CONCERN

RENT PAID- PROFIT AND LOSS ACCOUNT

EQUITY SHAREHOLDERS ARE THE COMPANY’S OWNERS

Debenture holders of the company are the creditors

POSDCORB is an acronym widely used in the field of Management and Public Administration that reflects the classic view of administrative management. Largely drawn from the work of French industrialist Henri Fayol, it first appeared in a 1937 staff paper by Luther Gulick and Lyndall Urwick written for the Brownlow Committee. The acronym stands for steps in the administrative process: Planning, Organizing, Staffing, Directing, Coordinating, Reporting and Budgeting.

Supply creates its own demand told by Keynes

Ricardo

Say

Mill

Green revolution

Decreased the production of cereals and pulses

Maximum no of partners allowed in banking business is 10

Sez act-(2005) A special economic zone is a geographical region that has economic and other laws that are more free-market-oriented than a country's typical or national laws. "Nationwide" laws may be suspended inside a special economic zone.

The category 'SEZ' covers, including Free Trade Zones (FTZ), Export Processing Zones (EPZ), Free Zones (FZ), Industrial parks or Industrial Estates (IE), Free Ports, Urban Enterprise Zones and others.

Usually the goal of a structure is to increase foreign direct investment by foreign investors, typically an international business or a multinational corporation (MNC), development of infrastructure and to increase the employment.

Discussion on India´s Progress in the Financial Action Task Force Plenary in Mexico

Mexico,,

India joined the Financial Action Task Force (FATF) as its 34th member in June 2010. At present FATF has 36 members comprising of 34 countries and two organizations namely, the European Union and the Gulf Cooperation Council. At the time of joining FATF, India gave an Action Plan to overcome certain deficiencies in a time bound manner. The items of the Action Plan were divided into Immediate, short term and Medium term items, which were to be completed by 30.6.2010, 31.3.2011 and 31.3.2012 respectively. India has completed the Immediate and Short term Action Plan items within the stipulated time and the same have been acknowledged by the FATF technical onsite team which visited India in April 2011.

India is participating in the Financial Action Task Force (FATF) plenary and working group meetings being held in Mexico City, Mexico from 20-24 June 2011. The plenary meeting discussed India´s Follow up Report of the FATF technical onsite team which visited India in April 2011 to assess India’s fulfilment of its Short term Action Plan and if it is on track to fulfil its Medium term commitments. . The FATF secretariat commended India´s commitment to a strong Anti Money Laundering/Combating Financing of Terrorism (AML/CFT) regime and acknowledged that India has made significant progress on all action points as per the time schedule. This view was shared by the FATF Plenary. India assured FATF that the Hon´ble Finance Minister of India is personally monitoring the progress of our country in conforming to the FATF standards. Under his initiative, the Financial Stability and Development Council has been formed which is also tasked with inter ministerial coordination to ensure compliance with India´s international obligations. India is also committed to financial inclusion to ensure that the fruits of increased economic prosperity reach the economically weaker sections of society. As a democratic and pluralistic nation which has achieved an average GDP growth rate of 8.5% per annum over the last five years, India is suitably placed to play an active role in international AML/CFT efforts. The international community praised India´s progress in improving its AML/CFT regime.

In the Working Group meetings, India played an enhanced role as the co-chair of the Asia Pacific Regional Review Group of FATF, reporting on Asia-Pacific nations’ compliance levels with the FATF´s recommendations.

The Indian inter-ministerial delegation was led by Mr. Bimal Julka, Additional Secretary & Director General (Currency) in the Ministry of Finance.

FM - Setting- up of Infrastructure Debt Fund through Public Private Partnership would meet the long term need of Infrastructure Sector funding

The Union Finance Minister Shri Pranab Mukherjee said that setting up of Infrastructure Debt Fund through public private partnership would meet the long term need of infrastructure sector funding. The Finance Minister Shri Mukherjee said that he is confident that the establishment of Infrastructure Debt Fund through PPP model would be a guiding principle for our future activities. The Finance Minister said that funs to the tune of 1Trillion US$ would be required for Infrastructure Sector Funding in next five years, out of which 50 percent would come from private sector through PPP model. The Finance Minister was speaking after a Memorandum of Understanding (MOU) was signed, here today in his presence for setting-up India's First Infrastructure Debt Fund(IDF) structured as a Non-Banking Finance Company (IDF-NBFC). The MoU was signed by Ms. Chanda Kochar, Managing Director, ICICI Bank, Shri Pramit Jhaveri, CEO, CITI Bank, Shri M.D. Mallaya, CMD, Bank of Baroda and Shri Sushobhan Sarkar, MD, LIC. Others present on the occasion include Dr. Montek Singh Ahluwalia, Deputy Chairman, Planning Commission, Shri Gajendra Haldia, Member, Planning Commission, Shri R.S. Gujral, Finance Secretary, Shri R. Gopalan, Secretary, Economic Affairs, Shri Sumit Bose, Secretary, Expenditure, Shri Haleem M. Khan, Secretary, Disinvestment and Shri Bimal Julka, Addl. Secretary cum Director General, (Currency),Ministry of Finance alongwith other senior officials of the Ministry of Finance, representatives of Regulators and Financial Institutions among others.

The Union Finance Minister Shri Pranab Mukherjee in his Budget Speech for 2011-12 had announced setting-up of Infrastructure Debt Funds (IDFs) in order to accelerate and enhance the flow of long term debt in infrastructure projects for funding the government's ambitious programme of infrastructure development. To attract off-shore funds into IDFs, the Finance Minister had also announced that withholding tax on interest payments on the borrowings by the IDFs would be reduced from 20% to 5%. Income of the IDFs has also been exempt from incometax.

The framework for establishment of IDFs was announced by the Ministry of Finance in June, 2011 wherein IDFs were allowed to be set up either structured as a non banking financial company (NBFC) or as a mutual fund. Reserve Bank of India issued the regulations for IDFs to be set up as a NBFC in November, 2011 and Securities Exchange Board of India issued the regulations governing an IDF structured as a mutual fund in August, 2011.

  

ICICI Bank (together with a wholly-owned subsidiary), Bank of Baroda, Citi and LIC will hold 31%, 30%, 29% and 10% shareholding respectively in the IDF-NBFC. The IDF would seek to raise debt capital from domestic as well as foreign resources and would invest in infrastructure projects under the Public-Private Partnership model that have completed one year of operations. The IDF will expand and diversify the domestic and international sources of debt funding to meet the large financing needs of the infrastructure sector, thereby giving an impetus to the creation of the infrastructure necessary to drive India's growth.

Index of Industrial Production (IIP) in simplest terms is an index which details out the growth of various sectors in an economy. E.g. Indian IIP will focus on sectors like mining, electricity and manufacturing. Also base year needs to be decided on the basis of which all the index figures would be arrived at. In case of India the base year has been fixed at 1993-94 hence the same would be equivalent to 100 Points but now it changed its based year to 2004-2005.

Index of Industrial Production (IIP) is an abstract number, the magnitude of which represents the status of production in the industrial sector for a given period of time as compared to a reference period of time.

The all India IIP is a composite indicator that measures the short-term changes in the volume of production of a basket of industrial products during a given period with respect to that in a chosen base period. It is compiled and published monthly by the Central Statistics Office (CSO) with the time lag of six weeks from the reference month.
Housing Startup Index(HSUI) soon to be launched in India is in the pattern of IIP.

A consumer price index (CPI) measures changes in the price level of consumer goods and services purchased by households. The CPI in the United States is defined by the Bureau of Labor Statistics as "a measure of the average change over time in the prices paid by urban consumers for a market basket of consumer goods and services."^[1]

The CPI is a statistical estimate constructed using the prices of a sample of representative items whose prices are collected periodically. Sub-indexes and sub-sub-indexes are computed for different categories and sub-categories of goods and services, being combined to produce the overall index with weights reflecting their shares in the total of the consumer expenditures covered by the index. It is one of several price indices calculated by most national statistical agencies. The annual percentage change in a CPI is used as a measure of inflation. A CPI can be used to index (i.e., adjust for the effect of inflation) the real value of wages, salaries, pensions, for regulating prices and for deflating monetary magnitudes to show changes in real values. In most countries, the CPI is, along with the population census and the USA National Income and Product Accounts, one of the most closely watched national economic statistics.It is compiled and published monthly 

As a pure measure of inflation, the CPI has some flaws:
1) new product bias (new products are not counted for a while after the appear)
2) discount store bias (consumers who care won't pay full price)
3) substitution bias (variations in price can cause consumers to respond by substituting on the spot, but the basic measure holds their consumption of various goods constant)
4) quality bias (product improvements are under-counted)
5) formula bias (overweighting of sale items in sample rotation)

The Wholesale Price Index (WPI) is the price of a representative basket of wholesale goods. Some countries (like India and The Philippines) use WPI changes as a central measure of inflation. However, United States now report a producer price index instead.

The Wholesale Price Index or WPI is "the price of a representative basket of wholesale goods. Some countries use the changes in this index to measure inflation in their economies, in particular India – The Indian WPI figure was earlier released weekly on every Thursday and influenced stock and fixed price markets. The Indian WPI is now updated on a monthly basis. The Wholesale Price Index focuses on the price of goods traded between corporations, rather than goods bought by consumers, which is measured by theConsumer Price Index. The purpose of the WPI is to monitor price movements that reflect supply and demand in industry, manufacturing and construction. This helps in analyzing both macroeconomic and microeconomic conditions.It is compiled and published monthly.


* Anti - Inflationary measures :
- Raising the bank rates
- Raising the reserve ratio requirements
- Rationing of credit.

NOT anti inflationary measures :
--Purchasing the securities in the Open Market.
This is because Purchasing the securities in the Open Market would lead to more liquidity system and more liquidity means more money will chase the same goods.

* If RBI wants to increase the Cash Reserves commercial Banks, the most probable step to be taken by it : But bonds in the Open Market. When RBI bank buys bonds in the open market, Banks get money and Cash reserve would increase.


* The Govt of India has recently launched a "Youth to the Edge" pilot scheme in North East India to introduce Youth from rest of India to the North Eastern Culture.The Pilot scheme aims to introduce youth from rest of India to the North Eastern Region (NER) and organize and combined adventure activities along with the youth from NER.They will also be given exposure about local culture, traditions and lifestyle. Conduct of adventure training will benefit participants by inculcating spirit of adventure, environmental awareness, national integration, casualty evacuation, promotion of adventure tourism, channelizing youth energy in positive direction, sense of self employment and self recognition.

All  Scheduled Commercial Banks (excluding RRBs)

Guidelines on the Base Rate

Following the announcement in the Annual Policy Statement for the year 2009-10,  Reserve Bank of India constituted a Working Group on Benchmark Prime Lending Rate (Chairman: Shri Deepak Mohanty) to review the present  benchmark prime lending rate (BPLR) system and suggest changes to make credit pricing more transparent. The Working Group submitted its report in October 2009 and the same was placed on the Reserve Bank’s website for public comments. Based on the recommendations of the Group and the suggestions from various stakeholders, the draft guidelines on Base Rate were placed on the Reserve Bank’s website in February 2010.

2. In the light of the comments/suggestions received, it has been decided that banks switch over to the system of Base Rate. The BPLR system, introduced in 2003, fell short of its original objective of bringing transparency to lending rates. This was mainly because under the BPLR system, banks could lend below BPLR. For the same reason, it was also difficult to assess the transmission of policy rates of the Reserve Bank to lending rates of banks. The Base Rate system is aimed at enhancing transparency in lending rates of banks and enabling better assessment of transmission of monetary policy. Accordingly, the following guidelines are issued for implementation by banks.

Base Rate

1. The Base Rate system will replace the BPLR system with effect from July 1, 2010. Base Rate shall include all those elements of the lending rates that are common across all categories of borrowers. Banks may choose any benchmark to arrive at the Base Rate for a specific tenor that may be disclosed transparently.  An illustration for computing the Base Rate is set out in the Annex.  Banks are free to use any other methodology, as considered appropriate, provided it is consistent and is madeavailable for supervisory review/scrutiny, as and when required.
2. Banks may determine their actual lending rates on loans and advances with reference to the Base Rate and by including such other customer specific charges as considered appropriate.
3. In order to give banks some time to stabilize the system of Base Rate calculation, banks are permitted to change the benchmark and methodology any time during the initial six month period i.e. end-December 2010.
4. The actual lending rates charged may be transparent and consistent and be madeavailable for supervisory review/scrutiny, as and when required.

Applicability of Base Rate

5. All categories of loans should henceforth be priced only with reference to the Base Rate. However, the following categories of loans could be priced without reference to the Base Rate: (a) DRI advances (b) loans to banks’ own employees (c) loans to banks’ depositors against their own deposits.
6. The Base Rate could also serve as the reference benchmark rate for floating rate loan products, apart from external market benchmark rates. The floating interest rate based on external benchmarks should, however, be equal to or above the Base Rate at the time of sanction or renewal.
7. Changes in the Base Rate shall be applicable in respect of all existing loans linked to the Base Rate, in a transparent and non-discriminatory manner.
8. Since the Base Rate will be the minimum rate for all loans, banks are not permitted to resort to any lending below the Base Rate. Accordingly, the current stipulation of BPLR as the ceiling rate for loans up to Rs. 2 lakh stands withdrawn. It is expected that the above deregulation of lending rate will increase the credit flow to small borrowers at reasonable rate and  direct bank finance will provide effective competition to other forms of high cost credit.
9. Reserve Bank of India will separately announce the stipulation for   export credit.

Review of Base Rate

10. Banks are required to review the Base Rate at least once in a quarter with the approval of the Board or the Asset Liability Management Committees (ALCOs) as per the bank’s practice. Since transparency in the pricing of lending products has been a key objective, banks are required to exhibit the information on their Base Rate at all branches and also on their websites. Changes in the Base Rate should also be conveyed to the general public from time to time through appropriate channels. Banks are required to provide information on the actual minimum and maximum lending rates to the Reserve Bank on a quarterly basis, as hitherto.

Transitional issues

11. The Base Rate system would be applicable for all new loans and for those old loans that come up for renewal. Existing loans based on the BPLR system may run till their maturity. In case existing borrowers want to switch to the new system, before expiry of the existing contracts, an option may be given to them, on mutually agreed terms. Banks, however, should not charge any fee for such switch-over.

12. In line with the above Guidelines, banks may announce their Base Rates after seeking approval from their respective ALCOs/ Boards.

Effective date

13. The above guidelines on the Base Rate system will become effective on July 1, 2010.

red herring prospectusred herring prospectus

Red herring prospectus

A red herring prospectus, as a first or preliminary prospectus, is a document submitted by a company (issuer) as part of a public offering of securities (either stocks or bonds). Most frequently associated with an initial public offering (IPO), this document, like the previously submitted Form S-1 registration statement, must be filed with the Securities and Exchange Commission (SEC).

A red herring prospectus is issued to potential investors, but does not have complete particulars on the price of the securities offered and quantum of securities to be issued. The front page of the prospectus displays a bold red disclaimer stating that information in the prospectus is not complete and may be changed, and that the securities may not be sold until the registration statement, filed with the SEC, is effective. Potential investors may not place buy orders for the security, based solely on the information contained within the preliminary prospectus. Those investors may, however, express an "indication of interest" in the offering, provided that they have received a copy of the red herring at least 48 hours prior to the public sale. After the registration statement becomes effective, and the stock is offered to the public, indications of interest may be converted to purchase orders, at the buyer's discretion. The final prospectus must then be promptly delivered to the buyer.

Contents

"Red-herring prospectus" means a prospectus that does not have complete particulars on the price of the securities offered and quantum of securities offered. The red herring statement contains:

1. purpose of the issue;
2. disclosure of any option agreement;
3. underwriter's commissions and discounts;
4. promotion expenses;
5. net proceeds to the issuing company (issuer);
6. balance sheet;
7. earnings statements for last 3 years, if available;
8. names and address of all officers, directors, underwriters and stockholders owning 10% or more of the current outstanding stock;
9. copy of the underwriting agreement;
10. legal opinion on the issue;
11. copies of the articles of incorporation of the issuer.

[edit]Prospectus

Since the registration statement (SEC Form S-1) is a very lengthy and complex document, the Securities Act of 1933 requires the preparation of a shorter document, known as a prospectus, for investors to read. The Preliminary (or Red Herring) Prospectus is distributed during the quiet period, before the registration statement has become effective with theSecurities and Exchange Commission (SEC). Upon the registration becoming effective, a "Final Prospectus" is prepared and distributed which includes the final public offering price and the number of shares issued. Only then, can the public offering of shares be completed.

[edit]Name

The name "Red Herring" relates to the red lettered disclaimer displayed on the front page of each preliminary prospectus. That disclaimer contains information similar to the following: "A Registration Statement relating to these securities has been filed with the Securities and Exchange Commission but has not yet become effective. Information contained herein is subject to completion or amendment. These securities may not be sold nor may offers to buy be accepted prior to the time the Registration Statement becomes effective."

The wording can be, and usually is, slightly different with each individual filing. An example is the recent Facebook red herring.

[edit]Registration

The minimum period between the filing of a Registration and its effective date is 20 days, called the "cooling-off period." This is the minimum number of days. The SEC can deem the registration "deficient" in which case registration does not become effective until the deficiencies are corrected. The SEC does not approve the securities registered with it, does not pass on the investment merits, nor guarantee the accuracy of the statements within the registration statement or prospectus. The SEC merely attempts to make certain that all pertinent information is disclosed.

INDIA DEVALUED ITS RUPEE FIRST TIME IN THE YEAR –1949

Maharatna status

In 2009, the government established the Maharatna status, which raises a company's investment ceiling from Rs. 1,000 crore to Rs. 5,000 crore.^[3] The Maharatna firms can now decide on investments of up to 15 per cent of their net worth in a project; the Navaratna companies could invest up to Rs 1,000 crore without explicit government approval.

[editCriteria

The six criteria for eligibility as Maharatna are:

1. Having Navratna status.

2. Listed on Indian stock exchange with minimum prescribed public shareholding under SEBI regulations.

3. An average annual turnover of more than Rs. 20,000. ^[4]crore during the last 3 years. Earlier it was Rs 25,000 Crore. ^[5]

4. An average annual net worth of more than Rs. 10,000^[6] crore during the last 3 years. Earlier it was Rs. 15,000 crore. ^[7]

5. An average annual net profit after tax of more than Rs. 2500 crore during the last 3 years. Earlier it was Rs. 5000 crore. ^[8]

6. Should have significant global presence/international operations.^[9]

[edit]List of Maharatna

1. Coal India Limited ^[10]

2. Indian Oil Corporation Limited ^[11]

3. NTPC Limited ^[12]

4. Oil and Natural Gas Corporation Limited ^[13]

5. Steel Authority of India Limited

[edit]Navratna status

Navratna was the title given originally to nine Public Sector Enterprises (PSEs), identified by the Government of India in 1997 as having comparative advantages, which allowed them greater autonomy to compete in the global market.^[14] The number of PSEs having Navratna status has been raised to 16,^[15] The government is likely to accord the coveted status to Engineers India Limited, which is under consideration.

List of Navratnas

1. Bharat Electronics Limited

2. Bharat Heavy Electricals Limited

3. Bharat Petroleum Corporation Limited

4. GAIL (India) Limited

5. Hindustan Aeronautics Limited

6. Hindustan Petroleum Corporation Limited

7. Mahanagar Telephone Nigam Limited

8. National Aluminium Company Limited

9. National Mineral Development Corporation Limited

10.            Neyveli Lignite Corporation Limited

11.            Oil India Limited

12.            Power Finance Corporation Limited

13.            Power Grid Corporation of India Limited

14.            Rashtriya Ispat Nigam Limited

15.            Rural Electrification Corporation Limited

16.            Shipping Corporation of India Limited

[edit]Miniratna Status

In addition, the government created another category called Miniratna. Miniratnas can also enter into joint ventures, set subsidiary companies and overseas offices but with certain conditions. In 2002, there were 61 government enterprises that were awarded Miniratna status. However, at present, there are 66 government enterprises that were awarded Miniratna status.

[edit]Category I

This designation applies to PSEs that have made profits continuously for the last three years or earned a net profit of Rs. 30 crore or more in one of the three years. These miniratnas granted certain autonomy like incurring capital expenditure without government approval up to Rs. 500 crore or equal to their net worth, whichever is lower.

1. Airports Authority of India 2. Antrix Corporation Limited 3. Balmer Lawrie & Co. Limited 4. Bharat Dynamics Limited 5. BEML Limited 6. Bharat Sanchar Nigam Limited 7. Bridge & Roof Company (India) Limited 8. Central Warehousing Corporation 9. Central Coalfields Limited 10. Chennai Petroleum Corporation Limited 11. Cochin Shipyard Limited 12. Container Corporation of India Limited 13.Dredging Corporation of India Limited 14. Engineers India Limited 15. Ennore Port Limited 16. Garden Reach Shipbuilders & Engineers Limited 17. Goa Shipyard Limited 18. Hindustan Copper Limited19. HLL Lifecare Limited 20. Hindustan Newsprint Limited 21. Hindustan Paper Corporation Limited 22. Housing and Urban Development Corporation 23. India Tourism Development Corporation 24.Indian Railway Catering and Tourism Corporation 25. IRCON International Limited 26. Kudremukh Iron Ore Company Limited. 27. Mazagaon Dock Limited 28. Mahanadi Coalfields Limited 29.Manganese Ore (India) Limited 30. Mangalore Refinery and Petrochemicals Limited 31. Mishra Dhatu Nigam Limited 32. Minerals and Metals Trading Corporation of India 33. MSTC Limited 34. National Fertilizers Limited 35. National Seeds Corporation Limited 36. NHPC Limited 37. Northern Coalfields Limited 38. Numaligarh Refinery Limited 39. ONGC Videsh Limited 40. Pawan Hans Helicopters 41.Rashtriya Chemicals & Fertilizers Limited 42. RITES Limited 43. Satluj Jal Vidyut Nigam 44. Security Printing and Minting Corporation of India Limited 45. South Eastern Coalfields Limited 46. State Trading Corporation of India Limited 47. Tehri Hydro Development Corporation Limited 48. Telecommunications Consultants (India) Limited 49. Western Coalfields Limited 50. Water & Power Consultancy (India) Limited

[edit]Category II

This category include those PSEs which have made profits for the last three years continuously and should have a positive net worth. Category II miniratnas have autonomy to incurring the capital expenditure without government approval up to Rs. 250 crore or up to 50% of their net worth whichever is lower.

51. Bharat Pumps & Compressors Limited

52. Broadcast Engineering Consultants (I) Limited

53. Central Mine Planning & Design Institute Limited

54. Ed.CIL (India) Limited

55. Engineering Projects (India) Limited

56. FCI Aravali Gypsum & Minerals India Limited

57. Ferro Scrap Nigam Limited

58. HMT (International) Limited

59. HSCC (India) Limited

60. India Trade Promotion Organisation

61. Indian Medicines & Pharmaceuticals Corporation Limited

62. M E C O N Limited

63. National Film Development Corporation Limited

64. National Small Industries Corporation Limited

65. P E C Limited

66. Rajasthan Electronics & Instruments Limited

FAVOURABLE BALANCE OF TRADE ---- MORE EXPORTS

Definition

Inflation

Stagflation

Deflation

hyperflation

BANK RATE

REPO RATE

REVERSE RATE

INTEREST RATE

DUMPING ----SELLING IN FOREIGN MARKET BELOW COST

BROAD MONEY (M3)

MALTHUS--- THEORY OF POPULATION

RICARDO

KEYNES

ADAM SMITH

Laws

Engel’s law

Gresham’s law—bad money drives good money out of circulation

Okun’s law

Malthusian law

First state to introduce vat---- haryana

Wal mart joined with bharati enterprise in india

Imports

the main source of import of Liquefied Natural Gas for India ---Qatar

Sushil Muhnot is the Chairman and MD of SIDBI

 Banking

SFDA	Small Farmers Development Agency

PRIMARY AGRICULTURAL CREDIT SOCIETIES--- DIRECT TOUCH WITH THE FARMERS

The Governor of the Reserve Bank of India is the senior-most banker in the Reserve Bank of India (RBI), the country's central bank. Since its establishment in 1935, the RBI has been helmed by 22 Governors. While the first-ever Governor was Sir Osborne Smith, the position is currently held D. Subbarao, who is scheduled to hold office till 2013.

[edit]List of governors

The following list includes the list of people who have served as the Governor of RBI:-

1.     Sir Osborne Smith (1 April 1935 – 30 June 1937)

2.     Sir James Braid Taylor (1 July 1937 – 17 February 1943)

3.     Sir C. D. Deshmukh (11 August 1943 – 30 June 1949)

4.     Sir Benegal Rama Rau (1 July 1949 – 14 January 1957)

5.     K. G. Ambegaonkar (14 February 1957 – 28 February 1957)

6.     H. V. R. Iyengar (1 March 1957 – 28 February 1962)

7.     P. C. Bhattacharya (1 March 1962 – 30 June 1967)

8.     L. K. Jha (1 July 1967 – 3 May 1970)

9.     B. N. Adarkar (4 May 1970 – 15 June 1970)

10.    S. Jagannathan (16 June 1970 – 19 May 1975)

11.    N. C. Sen Gupta (19 May 1975 – 19 August 1975)

12.    K. R. Puri (20 August 1975 – 2 May 1977)

13.    M. Narasimham (2 May 1977 – 30 November 1977)

14.    Dr. I. G. Patel (1 December 1977 – 15 September 1982)

15.    Dr. Manmohan Singh (16 September 1982 – 14 January 1985)

16.    A. Ghosh (15 January 1985 – 4 February 1985)

17.    R. N. Malhotra (4 February 1985 – 22 December 1990)

18.    S. Venkitaramanan (22 December 1990 – 21 December 1992)

19.    Dr. C. Rangarajan (22 December 1992 – 21 November 1997)

20.    Dr. Bimal Jalan (22 November 1997 – 6 September 2003)

21.    Dr. Y. V. Reddy (6 September 2003 – 5 September 2008)

22.    Dr. D. Subbarao (6 September 2008 – present)

NABARD

EXIM Bank ---export and import bank estb in 1982

IDBI

Ifci-1948

Icici-1955 REGISTED HEAD OFFICE IS IN VADODHARA

Idbi-1964

Exim bank-1982

Maximum no of foreign branches is in uk for Indian banks.

First Indian bank to open a branch outside India---

Bank of India

Bank of india is the Indian bank which is  having maximum number of branches outside India

State Bank of India has the most number of branches in India. SBI Bank has more than 16000 branches in India (more than 26000 if we include associate banks) and they also have the most number of ATMs in India - 21000 (more than 45000 if we include associate banks)

TAX INFORMATION NETWORK (TIN) STARTED IN 2004

DUNKEL DRAFT---- ASSOCIATED WITH URUGUAY ROUND

DOHA ROUND

MONETARY POLICY---- AIMS AT STABILITY OF PRICES

PRIMARY SECTOR

SECONDARY SECTOR

TERTIARY SECTOR (MAJOR INCOME FOR COUNTRY)

NATIONAL INCOME (NNP)

GREAT DEPRESSION OCCURED IN 1930

CURRENCY

EURO INTRODUCED IN 1999

POOREST STATE IN INDIA ORISSA

ECONOMIC ACTIVITY---TAKING CARE OF ELDERS

NON ECONOMIC---- LEARNING SWIMMING

THE GAP BETWEEN TWO ANNUAL GENERAL MEETINGS SHALL NOT EXCEED 15 MONTHS

DIRECT TAX

WEALTH TAX, INCOME TAX

INDIRECT TAX—

SALES TAX,

MINIMUM NO OF MEMBERS IN CO OPERATIVE SOCITIES --- 25

NATIONAL DEVELOPMENT COUNCIL—IS THE FINAL APPROVER OF FIVE YEAR PLANS IN INDIA

ACCELERATED GROWTH OF AN  ECONOMY
1. HIGH INVESTMENT IN INDUSTRIES
2.EXPANDING MARKET FOR PRODUCT
3.DYNAMIC ENTERPRENUERSHIP


demand of sweater is called as direct demand


GASOLINE IS COMPLETELY DEREGULATED IN INDIA NOT KEROSENE OR DISEL
The removal of government controls from an industry or sector, to allow for a free and efficient marketplace.(DEREGULATED)



IN INDIA THE GROWTH OF EMPLOYMENT PER ANNUM IS ONLY ABT---4 PERCENT CURRENT BASE YEAR FOR CALCULATION OF WHOLE SALE PRICE INDEX IS ----2004-05