NATIONAL NEWS

TRAI - All telemarketers' numbers to start with 700

The Telecom Regulatory Authority of India (TRAI) has laid down "Customer Call Preference Regulation", according to which, from January 2011, all calls from telemarketing companies will have the prefix 700 to alert customers, who can then either accept or reject them.

Ministry of Rural Development proposes merger of BPL, caste censuses

The Ministry of Rural Development has recommended to merge the census for identification of below poverty line (BPL) families with the caste census, to accelerate the process of determining the number of poor in the country.

Task force proposes land distribution to SC's

A task force appointed by Planning Commission, has proposed raising equity support to National Scheduled Caste Finance and Development Corporation, to enable state governments to buy private land and distribute among landless scheduled castes.

India lifts travel curbs for HIV patients

The Union Ministry of External Affairs has lifted all travel restrictions against HIV positive patients. It has clarified to all its embassies and consulates that there are no travel or residency restrictions for People Living with HIV (PLHIV) coming to India.

Kerala government allows private investment in ports up to Rs 4,000 cr

The Kerala government has allowed its major ports to raise funds from private players for development of container terminals, with a total investment cap of Rs 4000 crores.

Ministry of Environment & Forests issues show-cause notice to Jindals' Orissa plant

The Ministry of Environment & Forests has issued a show-cause notice to Jindal Steel and Power's integrated steel plant in Orissa, for failing to adhere to conditions prescribed in the environmental clearance given to the project in July 2007.

Central government moots setting up of National Manufacturing Zones.

The Central government has proposed establishment of National Manufacturing Zones, to help increase the share of manufacturing from 15 percent of the GDP at present to 25 percent by 2025.

Constitution bench to decide on disclosing judges' appointment under RTI

The Chief-Justice appointed Constitution bench is going to decide whether details on appointment of judges should be made public under provisions of the Right to Information (RTI) Act.

SEBI - Allotment of units of Liquid schemes, only if money is credited before cut-off time

SEBI has directed mutual fund houses to allot units to investors in liquid schemes, only if an application is submitted before 2pm, entire investment fund is credited to the bank account before the cut-off time, and the money is available to fund managers without any credit facility.

RBI mulls capping banks' investment in MF's

The Reserve Bank of India (RBI) is mulling capping of banks' investments in debt schemes of mutual funds, to prevent a potential systemic risk, in case banks withdraw funds from mutual funds in times of liquidity shortfall.

Panel recommends single regulator for ports

A Parliamentary panel has recommended to the government to establish a single quasi-judicial regulator for settling disputes for all ports in the country, by bringing an amendment to the Major Port Trust Act, 1963.

Government plans to convert IIFCL into NBFC

The government is planning to convert state-owned India Infrastructure Finance Company (IIFCL) into a non-banking finance company, to bring the dedicated infrastructure lender under the regulatory oversight of the Reserve Bank of India.

ICAI directs auditors to track the end-use of loans given to corporates

The Institute of Chartered Accountants of India (ICAI) has directed member auditors to be more vigilant about tracking the end-use of corporate loans taken from banks and financial institutions, to ensure appropriate deployment of funds.

Ministry of Environment & Forests issues show-cause notice to Lavasa

The Ministry of Environment & Forests has issued a show-cause notice to Lavasa, on the grounds of violation of forest conservation and environment laws, in its city building project near Pune.

DIN number must to file I-T returns

The Income Tax Department has made it mandatory for the taxpayers to obtain a unique document identification number (DIN), to file returns, claim refunds or for any kind of correspondence with the department. The move aims at bringing more transparency in tax administration.

CCI mulls remedial action against NSE for violating the Competition Act, 2002

The Competition Commission of India is planning to take remedial measures against National Stock Exchange (NSE), as investigations have shown that it has abused its dominant position to kill competition in the country's stock exchange space.

Ministry of Environment & Forests gives green nod to Jaitapur nuclear power unit

The Union ministry of Environment and Forests (MoEF) has given green clearance to the Jaitapur nuclear power project, which would be established in collaboration with French firm Areva in Ratnagiri district along the Konkan coast.

Legislative department offers financial assistance to legal organisations promoting Indian languages

The Official Languages Wing of the Legislative Department of the Ministry of Legal Affairs has floated a scheme for giving financial assistance to the voluntary organisations engaged in the use of Indian languages in the field of law.

State Finance ministers' panel on GST drops Constitutional amendment issue for next meet

An empowered group of state finance ministers has decided to drop the issue of bringing constitutional amendment, for the implementation of Goods and Service tax (GST), from its next meeting's agenda, scheduled on December 6, 2010.

Panel suggests changes in funding norms for SC/ST schemes

A Plan panel task force has recommended amendments to the funding norms for SC/ST schemes, for ensuring efficient allocation of funds by Central ministries for scheduled caste and scheduled tribe welfare schemes.

DIPP - Report on FDI in retail likely by December

An expert panel appointed by Department of Industrial Policy and Promotion (DIPP) is considering opening up of multi-brand retail to foreign investment. The six-member committee report is likely to be submitted by December, 2010.

Ministry of Finance asks PSB's to assess asset quality

The Ministry of Finance has asked public sector banks (PSB's) and other institutions, to carry out an evaluation of their assets quality, bad debt position, documentation and compliance of mandatory banking guidelines.

Child panel wants implementation of Right to Education in new session

The Delhi Commission for Protection of Child Rights (DCPCR) has issued directions to all schools in the capital, to ensure implementation of RTE provisions for the 2011-12 academic session. The schools have also been asked to provide information on proposed seats in class I.

Nation-wide MNP services roll-out by January 20, 2011

The nation-wide implementation of mobile number portability (MNP) services is expected to start from January 20, 2011, for a nominal transaction fee.

Parliament Standing Committee tables report on Copyright (Amendment) Bill, 2010

The Parliamentary Standing Committee on HRD has submitted its report on Copyright (Amendment) Bill to amend the Copyright Act, 1957, to bring it in conformity with World Intellectual Property Organisation's (WIPO) Copyright Treaty and WIPO Performances and Phonograms Treaty (WPPT).

Maharashtra government to introduce SEZ bill in winter session

The Maharashtra government has decided to introduce Maharashtra Special Economic Zones and Designated Areas Bill, in the winter session of state legislative assembly, beginning from December 1, 2010.

Government to set up Bankers' Group to study low-cost models for solar power

The Central government is planning to set up a group of public sector banks headed by State Bank of India, which would explore ways to make low-cost funding available for power projects under the National Solar Mission.

Ministry of Defence mulls disbanding DGDE

The Ministry of Defence is considering to disband Directorate General of Defence Estates (DGDE) in a phased manner, as part of the measures to reduce bottlenecks in land acquisition process.

RIL, NTPC likely to settle gas dispute out of court

Reliance Industries Ltd (RIL) and National Thermal Power Corporation (NTPC) are expected to arrive at consensus, for an out-of-court settlement of their dispute over a contract to supply natural gas from RIL's field in the Krishna-Godavari basin, to NTPC's expansion projects in Gujarat for 17 years.

IRDA issues norms for universal life insurance products

IRDA has issued norms regulating universal life insurance products, which require insurers to offer a guaranteed return if the policy terms do not entitle the insured to receive a bonus. Under the new guidelines, universal life plans have to be called 'variable' insurance policies.

Ministry of Health mulling changes in NLEM

The Ministry of Health is planning to enlarge the scope and size of the National List of Essential Medicines (NLEM), by doing away with the current practice of including only specific strengths of medicines in NLEM.

FSDC to come into force by December, 2010

The government has indicated that the Financial Stability and Development Council (FSDC) is expected to come into force in December 2010. The objectives of FSDC would be to ensure financial stability, inter-regulatory coordination, financial inclusion and promotion of financial sector development.

ICAI -Top managers must disclose dealings with their live-in partners from next year

The Institute of Chartered Accountants of India (ICAI) has cleared the proposal to include details of transactions between top managers and their domestic partners in the corporate disclosures from the next financial year.

Department of Public Enterprises agrees with committee's suggestion on lay-offs

The Department of Public Enterprises (DPE) has endorsed the recommendations of a Committee on performance management system, set up by the government, to allow Public Sector units (PSU's) to lay off upto 10% of their workforce on non-performance grounds.

Government plans bill to regulate MFI's

The Department of Financial Services has proposed to introduce the Micro Finance (Development & Regulation) Bill, 2010, in the parliament, after taking into account the growing number of defaults due to high interest rates, as well as reports of suicides.

Ministry of HRD unveils RTE admission rules

The Ministry of HRD has issued guidelines about screening of children at the time of admission under the Right to Education Act. The new guidelines would not allow schools to carry out profiling of students based on their parents' education.

Ministry of Labour & Employment wants ESI, EPF out of service tax ambit

The Ministry of Labour and Employment has asked the finance ministry to keep social security schemes like ESI and EPF out of the ambit of service tax, as the cost of insurance would significantly go up if service tax is imposed.

SIT to probe Ishrat Jahan encounter case

The Gujarat government has confirmed before the high court, that the state's home department has issued a notification in relation to constitution of special investigation team (SIT) to probe the claims of fake encounter of Ishrat Jahan by the state police.

Jharkhand government rules out transfer of Bokaro plant surplus land

The Jharkhand government has ruled out the possibility of transfer of any portion of surplus land from the Bokaro steel plant of Steel Authority of India Ltd (SAIL), to private investors for setting up of industries.

SEBI appointed panel - MII's should not make super-normal profits

A Committee headed by the former RBI governor Bimal Jalan has proposed to SEBI that market infrastructure institutions (MII's), including stock exchanges, should not be allowed to generate super-normal profits. Moreover, their listing should be prohibited as they are public institutions.

Government gives SEZ developers more time to execute projects

The government has permitted extension of validity of approval of 184 SEZs beyond the initial period of 3 years, on the grounds of global economic slowdown and bureaucratic delays in getting requisite clearances.

Parliamentary Panel recommends private participation in raising grain storage capacity

A Parliamentary committee has suggested to the government to consider incentivising private players to set up grain storage facilities, to ensure smooth implementation of National Food Security legislation.

Ministry of Home seeks tighter rules to prevent foreign investment in sensitive areas

The Ministry of Home Affairs has sought tighter rules to stop foreigners from acquiring stakes in Indian companies in sensitive border areas, in violation of the restrictions imposed on overseas investment in these regions.

Government offers incentives to electric vehicle industry

The Ministry of New and Renewable energy (MNRE) has announced an incentive package for electric vehicles manufactured in India. The scheme would be effective from November 11, 2010, which includes incentives upto 20% on ex-factory prices of vehicles, subject to a maximum limit.

DCPCR issues notice to Delhi government on nursery admissions

The Delhi Commission for Protection of Child Rights (DCPCR) has sent a notice to the Delhi government, asking it to release the new guidelines for nursery admissions without any further delay, as the Right to Education (RTE) has to be implemented in schools from the new session.

NPCI launches fund transfer facility through mobiles

The National Payment Corporation of India (NPCI) has launched Inter-bank Mobile Payment Service (IMPS) which allows consumers to transfer money from their accounts to any other account in the country using their cellphones.

Central government rejects MLAs pay hike demand

The Central government has rejected a demand from Delhi MLA's for a salary hike of almost 200%. The government noted that a pay revision isn't due in Delhi until 2012, and the proposed conveyance allowances are too much for a small state like Delhi.

Government gives green signal for airport at Navi Mumbai

The Union ministry of Environment & Forests has given green clearance for the international airport at Navi Mumbai. The tendering for the project is expected to start soon.

INTERNATIONAL NEWS

U.N. meeting to tackle climate change begins in Cancun

The heads of state from across the world have gathered for a 12-day United Nations Framework Convention on Climate Change (UNFCC) in Mexico. The meeting will pick up where last year's meeting in Copenhagen left off, to find a fair way for both rich and poor nations alike to deal with global warming. But, the prospects for a major agreement on capping worldwide pollution seems unlikely.

UK announces cap on skilled workers

The British government has announced a cap on immigration from outside the European Economic Area (EEA). According to the new guidelines, not more than 21,000 skilled people will be allowed to enter into the UK from outside the EEA on work permits, from April 1, 2011 onwards.

China bans hoarding to contain inflation

The government of China has banned hoarding of oil, coal and other key commodities, to ensure regular supplies and contain inflation which has surged to unreasonable levels.

India signs a pact with Iceland on geothermal energy

India has signed an agreement with Iceland to tap geothermal energy in the country, to reduce its dependence on fossil fuels. The potential has already been identified in Ladakh region, Gujarat and Chhattisgarh.

Supreme court set to hear prison release order

The Supreme Court is all set to hear california's challenge to a liberal 2009 federal court order, that requires the state to reduce the inmate population from its overcrowded jails, even if it means releasing approximately 40,000 inmates. Many other states are joining California, fearing repercussions on law and order if a similar situation arises in the prisons in any other state.