INDIAN ECONOMY EVENTS 2009-10

January 20, 2010	A government-constituted core panel on the International Financial Reporting Standards (IFRS) has decided to exempt small and medium enterprises (SMEs) from the first phase of convergence falling due in 2011.
January 13, 2010	The government has announced US$ 109.54 million-worth incentives to give a boost to the export sector and to promote exports to China and Japan. Mr Anand Sharma, Union Minister of Commerce and Industry, also announced the expansion of the Focused Product Scheme (FPS) and special FPS.
January 12, 2010	The public private partnership appraisal committee (PPPAC) has given its nod for the proposed Rs 3,686-crore (US$ 811.1 million) mega container terminal at Chennai port.
December 30, 2009	As part of its divestment programme, the government is to sell 8.38 per cent of its stake in the mining company, National Mining Development Corporation (NMDC) before the end of the current fiscal, raising US$ 3.02 billion.
December 18, 2009	The Cabinet Committee on Infrastructure (CCI) has approved the widening of over 445 km of national highways at an estimated cost of Rs 4,447 crore (US$ 950 million), which will be undertaken by the National Highways Authority of India (NHAI) in the design-build-finance-operate-transfer (DBFOT) mode.
December 16, 2009	The government has approved six proposals for setting up of special economic zones (SEZs), including one for a gems and jewellery SEZ by Delhi State Industrial and Infrastructure Development Corporation.
December 15, 2009	The government has allowed 100 per cent foreign direct investment (FDI) in the renewable energy sector and has put in place a conducive policy to attract foreign companies, it was announced by Mr Farooq Abdullah, Minister for New and Renewable Energy, in Parliament.
December 10, 2009	India's capital market regulator, Securities and Exchange Board of India (SEBI), is to extend the reach of Application Supported Blocked Amount (ASBA) to investor categories such as high net worth individuals (HNIs) and corporate investors.
December 07, 2009	The Information and Broadcasting Ministry has set up a task force which includes representatives from the government as well as those from television industry, to speed up the effort to create a Broadcast Regulatory Authority and to develop a content code for the television sector.
November 19, 2009	To reduce dependence on fossil fuels, the Cabinet has approved the Jawaharlal Nehru National Solar Mission which aims to feed 20,000 MW to the national grid by 2022, with an initial investment of Rs 4,337 crore (US$ 925.66 million).
November 13, 2009	The government has approved the policy for Headend-in-the-Sky (HITS) operators—a technology that will provide digitised cable content to viewers across the country—and existing permission holders of HITS will be required to migrate to the new policy regime within three months.

September 18, 2009	Taking forward the agenda for developing the corporate bond market, the Reserve Bank of India (RBI) said it initially intends to allow repo transactions in only listed securities like non-convertible debt, debentures and bonds rated AA+ and above.
September 11, 2009	The Securities and Exchange Board of India (SEBI) may soon issue rules for setting up stock exchanges dedicated to the small and medium enterprises (SMEs), enabling them to raise capital from the market.
September 07, 2009	Central drug regulator, Drug Controller General of India (DCGI), in a letter to state regulators has said that certificates will be issued "by the Central Drugs Standard Control Organisation (CDSCO) after inspection of manufacturing facilities" in order to discourage multiple certifying authorities in the country.
August 28, 2009	The government on August 27, 2009, allowed duty-free import of capital goods, extended the duty refund scheme for exporters, and cut transaction costs for them in a bid to boost exports and double outbound sales of goods and services in five years.
August 27, 2009	The Government will establish diamond bourses to make the country an international trading hub and boost the gems and jewellery exports as announced in its foreign trade policy (FTP) amongst many other incentives
August 24, 2009	The Prime Minister's Council on Climate Change has given an in-principle nod to the National Mission on Enhanced Energy Efficiency, which will enable about Rs 75,000 crore (US$ 15.36 billion) worth of transactions in energy efficiency.
August 22, 2009	The Reserve Bank of India (RBI) has put a cap on third-party ATM withdrawal (When a cardholder is using other bank's ATM) at Rs 10,000 (US$ 206.221) per transaction and also limited the number of such transactions to five in a month.
August 18, 2009	The new index of industrial production (IIP), with a revised base of 2004-05, increased data points and an updated product portfolio, will not include mobile phone manufacturing, according to Mr Pronab Sen, Chief Statistician of India and Secretary, Ministry of Statistics and Programme Implementation (MOSPI).
August 11, 2009	The government is setting up a National Information Highway Authority (NIHA), which would synergise the government's various e-activities such as e-governance, e-learning and e-health.
August 10, 2009	A Bill seeking to establish the Land Ports Authority of India to undertake the construction, management and maintenance of Integrated Check Posts (ICPs) at the border, to promote trade with neighbouring countries, was introduced in Lok Sabha on August 7, 2009.
August 04, 2009	The Prime Minister's Council on Climate Change has approved the National Solar Mission, which aimed at solar generation target of 20,000 Megawatt by 2020.

August 03, 2009	The Corporate Affairs Minister, Mr Salman Khurshid, on August 3, 2009 introduced in the Lok Sabha the Companies Bill, 2009 that seeks to replace the existing Companies Act of 1956.
August 03, 2009	Prime Minister Dr Manmohan Singh has constituted an 11-member council under his chairmanship to advise the Unique Identification Authority of India (UIDAI) and ensure coordination between the Ministries, stakeholders and partners.
July 31, 2009	The National Green Tribunal Bill, 2009, which provides for the setting up of a tribunal, with powers of a civil court, for expeditious disposal of cases relating to environmental protection and conservation of forests, was introduced in the Lok Sabha
July 23, 2009	The Planning Commission has prepared draft guidelines for establishing joint venture companies between public sector undertakings (PSUs) and the private sector in infrastructure.
July 22, 2009	Foreign institutional investors (FIIs) and the non-resident Indians (NRIs) are allowed to invest in Indian Depository Receipts, according to the operational guidelines issued by the Reserve Bank of India on Wednesday.
July 18, 2009	The Ministry of Human Resource Development (MHRD) has issued guidelines to all deemed universities regarding the regulation of their fees, faculty performance and compulsory accreditation.
July 13, 2009	Prime Minister, Dr Manmohan Singh has approved the constitution of an Empowered Group of Ministers (EGoM) to consider issues concerning procurement, management of foodgrains' stocks, revision of Central Issue Price of foodgrains and the proposed law on food security.
July 10, 2009	The government has cleared French tyre major, Michelin's foreign direct investment (FDI) proposal worth US$ 2.26 billion to set up a manufacturing facility in Tamil Nadu
July 08, 2009	After ensuring successful implementation of basic Basel II norms by banks, the Reserve Bank of India (RBI) on July 7, 2009, unveiled a timeframe to adopt advanced approaches to manage credit, market and operational risks.
July 08, 2009	The proposed alliance between Bharti Airtel, India's largest telecom company, and South African telecom giant MTN, crossed the first hurdle after the Securities and Exchange Board of India (SEBI) exempted MTN from making the mandatory open offer to Bharti Airtel shareholders under the takeover code.
July 02, 2009	The Ministry of Power has approved distribution sector upgradation projects worth Rs 1,614 crore (US$ 337 million) for 423 towns. The move is expected to give a fillip to the information technology and electrical equipment sector.
July 01, 2009	Telecom Regulatory Authority of India (TRAI) has unveiled draft regulations for the implementation of mobile number portability (MNP), a facility that will allow consumers to change their telecom operator, but retain their phone number.
July 01, 2009	The Reserve Bank of India (RBI), has allowed special economic zone (SEZ) developers to raise overseas loans and extended the permission to integrated township developers to access the external commercial borrowings (ECB) window till December 2009.
June 29, 2009	The Vision-2015 document for the oil sector, which will focus on providing better services to customers covering four broad areas of LPG (liquefied petroleum gas), kerosene, auto fuels and compressed natural gas/piped natural gas, has been finalised by the Petroleum Ministry.
June 29, 2009	A new company, CSC e-governance Services India Ltd, will be floated by the government to provide back-end services to the huge network of 100,000 common service centres across the country that have sprung up to take IT to rural India.
June 24, 2009	The Reserve Bank of India (RBI) has announced the formation of a technical advisory committee (TAC) to advise it on monetary policy and separately cautioned banks on their credit reporting practices.
June 19, 2009	The Securities and Exchange Board of India (SEBI) has introduced anchor investors in public stock issues, made investment in mutual funds cheaper by scrapping entry loads and halved the fee for registration of foreign institutional investors (FIIs) and their sub-accounts, for derivatives trading and brokers.
June 19, 2009	The Board of Approval for Special Economic Zones (SEZs) has granted two formal approvals and one in-principle nod for setting up of information technology (IT)/IT-enabled services (ITeS) and multi service SEZs in West Bengal, Andhra Pradesh and Tamil Nadu.
June 18, 2009	The Reserve Bank of India (RBI) and the Securities and Exchange Board of India (SEBI) have jointly unveiled norms enabling exchange-traded interest rate futures (IRF).
June 18, 2009	Karnataka, the first State to pro-actively promote the biotechnology sector with a separate policy for the industry in 2001, plans to roll out a revised, industry-friendly policy in July.
June 17, 2009	In order to reduce the additional regulatory and cost burden to the issuer of Indian Depository Receipts (IDR), the market regulator Securities and Exchange Board of India (SEBI) has drafted a simplifie
June 17, 2009	Mutual fund investors would now be exempt from furnishing their Permanent Account Number for investments in systematic investment plans of mutual funds up to Rs 50,000 (US$ 1,038), according to A P Kurian, Chairman, Association of Mutual Funds in India.
June 16, 2009	The Ministries of Commerce & Industry and New & Renewable Energy is coordinating with the government, which is considering a regulation to make use of renewable energy mandatory for special economic zones (SEZ) to save on traditional fuel like coal and diesel.
June 15, 2009	India's capital market regulator, Securities Exchange Board of India (SEBI), is trying to push through several initiatives to step up participation in the markets and bring in a stricter regulatory regime for key intermediaries, especially mutual funds.
June 10, 2009	The Insurance Regulatory and Development Authority (IRDA) will come up with a national standard for valuation of insurance companies in two months time, according to its Chairman, Mr J. Hari Narayan.
June 03, 2009	The Reserve Bank of India (RBI) has told banks to ensure clearance of all local cheques within a day and of outstation cheques within 14 days.

June 02, 2009	The Board of Approval for Special Economic Zones (SEZs) granted formal nod to eight SEZs—including Larsen & Toubro-promoted SEZ for information technology(IT)/IT enabled services—and in-principle nod to two others.
May 29, 2009	Markets regulator Securities and Exchange Board of India (SEBI) has released the proposed framework for using wireless technology for such trades and has invited comments from market participants.
May 26, 2009	Services exports from the country may get a fillip with the new Government providing relief to certain service providers in terms of reduced transaction costs.
May 26, 2009	In a notification on May 25, 2009, the Insurance Regulatory Development Authority (IRDA) has said all health insurance products filed must allow entry at least till 65 years of age.
May 25, 2009	Disinvestment is back on the agenda of the government after five years and officials in the finance and administrative ministries for various public sector enterprises have already started working on a roadmap.
May 21, 2009	The Commerce Ministry has initiated steps to reduce the time taken to develop Special Economic Zones (SEZs) by simplifying procedures to get the tax-free industrial enclaves notified.
May 21, 2009	The government has decided to bring the Foreign Investment Promotion Board into a new division within the ministry: the infrastructure and investment division.
May 14, 2009	The government has decided to proceed with the next step of the eighth round of auction of oil and gas blocks under the New Exploration and Licensing Policy (NELP) and open the data room for prospective bidders on May 20, 2009.
May 13, 2009	A Department of Telecommunications committee has suggested that telecom operators should be asked to pay a transfer charge ranging between Rs 57 crore (US$ 11.43 million) and Rs 2.5 crore (US$ 501,622) per Mhz, for various circles, in the case of a merger or acquisition.
May 13, 2009	The Securities and Exchange Board of India (SEBI) has announced that no single foreign institutional investor (FII) should be allocated more than Rs 1,000 crore (US$ 203.17 million) in the unutilised investment limits for government debt.
May 12, 2009	The Securities and Exchange Board of India (SEBI) has issued simplified rules governing corporate debt paper, thereby making it possible to raise funds quicker on domestic capital markets.
May 12, 2009	The Insurance Regulatory and Development Authority of India (IRDA) has asked life insurance companies to float a separate subsidiary to take up the pension fund management business under the new pension scheme (NPS).
May 11, 2009	The government is likely to significantly alter the controversial Press Notes 2, 3 and 4 in a couple of weeks to close loopholes that give firms leeway to exceed limits on foreign direct investment (FDI) in various sectors.
May 10, 2009	The Department of Telecom has set a deadline of September 20, 2009, for mobile operators to upgrade their respective networks for implementing number portability.
May 04, 2009	The Department of Telecom has cleared a proposal from the cellular industry to carry out a project whereby the international mobile equipment identity (IMEI) number will be transplanted on the handsets through a software.
April 30, 2009	Paving the way for the New Pension Scheme (NPS) from May 1, 2009, the Pension Fund Regulatory and Development Authority (PFRDA) on April 29, 2009, announced the investment guidelines for contributory plans.
April 28, 2009	The Telecom Regulatory Authority of India (TRAI) has directed mobile operators to seek written consent from the users who have subscribed to their value-added services (VAS) in order to prevent accidental activation of such services.
April 25, 2009	The market regulator Securities and Exchange Board of India (SEBI) has amended certain clauses in the equity listing agreement to bring more transparency and efficiency in the governance of a listed company.

April 24, 2009	The government has imposed a special anti-dumping duty on import of cold-rolled flat stainless steel products to shield domestic producers from the threat of cheaper imports.
April 24, 2009	The Reserve Bank of India (RBI), as part of its guidelines on outsourcing of financial services by banks, has directed banks to submit an annual compliance certificate giving the particulars of outsourcing contracts.
April 24, 2009	Egypt has withdrawn additional import duty on Indian cotton yarn, fabric and sugar on the back of strong protests from the Indian government.
April 23, 2009	The government on Wednesday said that the import of key communication hardware like radio equipment will require a licence from the Ministry of Communication and IT without any approval of the Commerce Ministry.
April 23, 2009	The Reserve Bank (RBI) of India has decided to review and monitor the performance of credit rating agencies, for continuation of their accreditation.
April 23, 2009	The Reserve Bank of India (RBI) has decided to allow banks to also issue guarantees for periods beyond 10 years.
April 22, 2009	The Reserve Bank of India (RBI) would keep on hold plans to liberalise the operation of foreign banks, including giving them more freedom to acquire private sector banks and extending national treatment to their wholly-owned subsidiaries.
April 21, 2009	In a move that would allow banks to expand their automated teller machines (ATM) networks more easily, the Reserve Bank of India (RBI) has done away with the requirement of prior regulatory approval for setting up offsite ATMs.
April 17, 2009	The new foreign trade policy, which is being prepared by the Commerce Ministry, will be aligned with the Goods and Services Tax (GST) after April 1, 2010, only after implementation of this indirect tax mechanism.
April 17, 2009	The government has set June 30, 2009 as the deadline for unbundling of state electricity boards (SEBs) into separate entities for power generation, transmission, distribution and trading business.
April 16, 2009	In a move that will allow greater transparency in human clinical trials conducted in India, the registration of all such trials will be made mandatory starting in June 2009. The move has also been approved by the Drugs Technical Advisory Board (DTAB), the highest drug advisory body in India.
April 14, 2009	Market regulator Securities Exchange Board of India (SEBI) has permitted foreign institutional investors (FIIs) and mutual funds to invest in Indian Depository Receipts (IDRs).
April 14, 2009	The Election Commission (EC) has cleared the government's decision to allow zero duty import of raw and refined sugar under the open general licence scheme.
April 02, 2009	Cash withdrawals from bank will not attract tax from April 1, 2009. This is following abolition of the banking cash transaction tax (BCTT) in the Union Budget 2008-09.
April 01, 2009	Ports in special economic zones (SEZs) will now have to be set up in the non-processing area and will have to be demarcated from the rest of the SEZ. This is a part of the new guidelines issues by the Commerce and Industry Ministry.

January 20, 2010	A government-constituted core panel on the International Financial Reporting Standards (IFRS) has decided to exempt small and medium enterprises (SMEs) from the first phase of convergence falling due in 2011.
January 13, 2010	The government has announced US$ 109.54 million-worth incentives to give a boost to the export sector and to promote exports to China and Japan. Mr Anand Sharma, Union Minister of Commerce and Industry, also announced the expansion of the Focused Product Scheme (FPS) and special FPS.
January 12, 2010	The public private partnership appraisal committee (PPPAC) has given its nod for the proposed Rs 3,686-crore (US$ 811.1 million) mega container terminal at Chennai port.
December 30, 2009	As part of its divestment programme, the government is to sell 8.38 per cent of its stake in the mining company, National Mining Development Corporation (NMDC) before the end of the current fiscal, raising US$ 3.02 billion.
December 18, 2009	The Cabinet Committee on Infrastructure (CCI) has approved the widening of over 445 km of national highways at an estimated cost of Rs 4,447 crore (US$ 950 million), which will be undertaken by the National Highways Authority of India (NHAI) in the design-build-finance-operate-transfer (DBFOT) mode.
December 16, 2009	The government has approved six proposals for setting up of special economic zones (SEZs), including one for a gems and jewellery SEZ by Delhi State Industrial and Infrastructure Development Corporation.
December 15, 2009	The government has allowed 100 per cent foreign direct investment (FDI) in the renewable energy sector and has put in place a conducive policy to attract foreign companies, it was announced by Mr Farooq Abdullah, Minister for New and Renewable Energy, in Parliament.
December 10, 2009	India's capital market regulator, Securities and Exchange Board of India (SEBI), is to extend the reach of Application Supported Blocked Amount (ASBA) to investor categories such as high net worth individuals (HNIs) and corporate investors.
December 07, 2009	The Information and Broadcasting Ministry has set up a task force which includes representatives from the government as well as those from television industry, to speed up the effort to create a Broadcast Regulatory Authority and to develop a content code for the television sector.
November 19, 2009	To reduce dependence on fossil fuels, the Cabinet has approved the Jawaharlal Nehru National Solar Mission which aims to feed 20,000 MW to the national grid by 2022, with an initial investment of Rs 4,337 crore (US$ 925.66 million).
November 13, 2009	The government has approved the policy for Headend-in-the-Sky (HITS) operators—a technology that will provide digitised cable content to viewers across the country—and existing permission holders of HITS will be required to migrate to the new policy regime within three months.

September 18, 2009	Taking forward the agenda for developing the corporate bond market, the Reserve Bank of India (RBI) said it initially intends to allow repo transactions in only listed securities like non-convertible debt, debentures and bonds rated AA+ and above.
September 11, 2009	The Securities and Exchange Board of India (SEBI) may soon issue rules for setting up stock exchanges dedicated to the small and medium enterprises (SMEs), enabling them to raise capital from the market.
September 07, 2009	Central drug regulator, Drug Controller General of India (DCGI), in a letter to state regulators has said that certificates will be issued "by the Central Drugs Standard Control Organisation (CDSCO) after inspection of manufacturing facilities" in order to discourage multiple certifying authorities in the country.
August 28, 2009	The government on August 27, 2009, allowed duty-free import of capital goods, extended the duty refund scheme for exporters, and cut transaction costs for them in a bid to boost exports and double outbound sales of goods and services in five years.
August 27, 2009	The Government will establish diamond bourses to make the country an international trading hub and boost the gems and jewellery exports as announced in its foreign trade policy (FTP) amongst many other incentives
August 24, 2009	The Prime Minister's Council on Climate Change has given an in-principle nod to the National Mission on Enhanced Energy Efficiency, which will enable about Rs 75,000 crore (US$ 15.36 billion) worth of transactions in energy efficiency.
August 22, 2009	The Reserve Bank of India (RBI) has put a cap on third-party ATM withdrawal (When a cardholder is using other bank's ATM) at Rs 10,000 (US$ 206.221) per transaction and also limited the number of such transactions to five in a month.
August 18, 2009	The new index of industrial production (IIP), with a revised base of 2004-05, increased data points and an updated product portfolio, will not include mobile phone manufacturing, according to Mr Pronab Sen, Chief Statistician of India and Secretary, Ministry of Statistics and Programme Implementation (MOSPI).
August 11, 2009	The government is setting up a National Information Highway Authority (NIHA), which would synergise the government's various e-activities such as e-governance, e-learning and e-health.
August 10, 2009	A Bill seeking to establish the Land Ports Authority of India to undertake the construction, management and maintenance of Integrated Check Posts (ICPs) at the border, to promote trade with neighbouring countries, was introduced in Lok Sabha on August 7, 2009.
August 04, 2009	The Prime Minister's Council on Climate Change has approved the National Solar Mission, which aimed at solar generation target of 20,000 Megawatt by 2020.

August 03, 2009	The Corporate Affairs Minister, Mr Salman Khurshid, on August 3, 2009 introduced in the Lok Sabha the Companies Bill, 2009 that seeks to replace the existing Companies Act of 1956.
August 03, 2009	Prime Minister Dr Manmohan Singh has constituted an 11-member council under his chairmanship to advise the Unique Identification Authority of India (UIDAI) and ensure coordination between the Ministries, stakeholders and partners.
July 31, 2009	The National Green Tribunal Bill, 2009, which provides for the setting up of a tribunal, with powers of a civil court, for expeditious disposal of cases relating to environmental protection and conservation of forests, was introduced in the Lok Sabha
July 23, 2009	The Planning Commission has prepared draft guidelines for establishing joint venture companies between public sector undertakings (PSUs) and the private sector in infrastructure.
July 22, 2009	Foreign institutional investors (FIIs) and the non-resident Indians (NRIs) are allowed to invest in Indian Depository Receipts, according to the operational guidelines issued by the Reserve Bank of India on Wednesday.
July 18, 2009	The Ministry of Human Resource Development (MHRD) has issued guidelines to all deemed universities regarding the regulation of their fees, faculty performance and compulsory accreditation.
July 13, 2009	Prime Minister, Dr Manmohan Singh has approved the constitution of an Empowered Group of Ministers (EGoM) to consider issues concerning procurement, management of foodgrains' stocks, revision of Central Issue Price of foodgrains and the proposed law on food security.
July 10, 2009	The government has cleared French tyre major, Michelin's foreign direct investment (FDI) proposal worth US$ 2.26 billion to set up a manufacturing facility in Tamil Nadu
July 08, 2009	After ensuring successful implementation of basic Basel II norms by banks, the Reserve Bank of India (RBI) on July 7, 2009, unveiled a timeframe to adopt advanced approaches to manage credit, market and operational risks.
July 08, 2009	The proposed alliance between Bharti Airtel, India's largest telecom company, and South African telecom giant MTN, crossed the first hurdle after the Securities and Exchange Board of India (SEBI) exempted MTN from making the mandatory open offer to Bharti Airtel shareholders under the takeover code.
July 02, 2009	The Ministry of Power has approved distribution sector upgradation projects worth Rs 1,614 crore (US$ 337 million) for 423 towns. The move is expected to give a fillip to the information technology and electrical equipment sector.
July 01, 2009	Telecom Regulatory Authority of India (TRAI) has unveiled draft regulations for the implementation of mobile number portability (MNP), a facility that will allow consumers to change their telecom operator, but retain their phone number.
July 01, 2009	The Reserve Bank of India (RBI), has allowed special economic zone (SEZ) developers to raise overseas loans and extended the permission to integrated township developers to access the external commercial borrowings (ECB) window till December 2009.
June 29, 2009	The Vision-2015 document for the oil sector, which will focus on providing better services to customers covering four broad areas of LPG (liquefied petroleum gas), kerosene, auto fuels and compressed natural gas/piped natural gas, has been finalised by the Petroleum Ministry.
June 29, 2009	A new company, CSC e-governance Services India Ltd, will be floated by the government to provide back-end services to the huge network of 100,000 common service centres across the country that have sprung up to take IT to rural India.
June 24, 2009	The Reserve Bank of India (RBI) has announced the formation of a technical advisory committee (TAC) to advise it on monetary policy and separately cautioned banks on their credit reporting practices.
June 19, 2009	The Securities and Exchange Board of India (SEBI) has introduced anchor investors in public stock issues, made investment in mutual funds cheaper by scrapping entry loads and halved the fee for registration of foreign institutional investors (FIIs) and their sub-accounts, for derivatives trading and brokers.
June 19, 2009	The Board of Approval for Special Economic Zones (SEZs) has granted two formal approvals and one in-principle nod for setting up of information technology (IT)/IT-enabled services (ITeS) and multi service SEZs in West Bengal, Andhra Pradesh and Tamil Nadu.
June 18, 2009	The Reserve Bank of India (RBI) and the Securities and Exchange Board of India (SEBI) have jointly unveiled norms enabling exchange-traded interest rate futures (IRF).
June 18, 2009	Karnataka, the first State to pro-actively promote the biotechnology sector with a separate policy for the industry in 2001, plans to roll out a revised, industry-friendly policy in July.
June 17, 2009	In order to reduce the additional regulatory and cost burden to the issuer of Indian Depository Receipts (IDR), the market regulator Securities and Exchange Board of India (SEBI) has drafted a simplifie
June 17, 2009	Mutual fund investors would now be exempt from furnishing their Permanent Account Number for investments in systematic investment plans of mutual funds up to Rs 50,000 (US$ 1,038), according to A P Kurian, Chairman, Association of Mutual Funds in India.
June 16, 2009	The Ministries of Commerce & Industry and New & Renewable Energy is coordinating with the government, which is considering a regulation to make use of renewable energy mandatory for special economic zones (SEZ) to save on traditional fuel like coal and diesel.
June 15, 2009	India's capital market regulator, Securities Exchange Board of India (SEBI), is trying to push through several initiatives to step up participation in the markets and bring in a stricter regulatory regime for key intermediaries, especially mutual funds.
June 10, 2009	The Insurance Regulatory and Development Authority (IRDA) will come up with a national standard for valuation of insurance companies in two months time, according to its Chairman, Mr J. Hari Narayan.
June 03, 2009	The Reserve Bank of India (RBI) has told banks to ensure clearance of all local cheques within a day and of outstation cheques within 14 days.

June 02, 2009	The Board of Approval for Special Economic Zones (SEZs) granted formal nod to eight SEZs—including Larsen & Toubro-promoted SEZ for information technology(IT)/IT enabled services—and in-principle nod to two others.
May 29, 2009	Markets regulator Securities and Exchange Board of India (SEBI) has released the proposed framework for using wireless technology for such trades and has invited comments from market participants.
May 26, 2009	Services exports from the country may get a fillip with the new Government providing relief to certain service providers in terms of reduced transaction costs.
May 26, 2009	In a notification on May 25, 2009, the Insurance Regulatory Development Authority (IRDA) has said all health insurance products filed must allow entry at least till 65 years of age.
May 25, 2009	Disinvestment is back on the agenda of the government after five years and officials in the finance and administrative ministries for various public sector enterprises have already started working on a roadmap.
May 21, 2009	The Commerce Ministry has initiated steps to reduce the time taken to develop Special Economic Zones (SEZs) by simplifying procedures to get the tax-free industrial enclaves notified.
May 21, 2009	The government has decided to bring the Foreign Investment Promotion Board into a new division within the ministry: the infrastructure and investment division.
May 14, 2009	The government has decided to proceed with the next step of the eighth round of auction of oil and gas blocks under the New Exploration and Licensing Policy (NELP) and open the data room for prospective bidders on May 20, 2009.
May 13, 2009	A Department of Telecommunications committee has suggested that telecom operators should be asked to pay a transfer charge ranging between Rs 57 crore (US$ 11.43 million) and Rs 2.5 crore (US$ 501,622) per Mhz, for various circles, in the case of a merger or acquisition.
May 13, 2009	The Securities and Exchange Board of India (SEBI) has announced that no single foreign institutional investor (FII) should be allocated more than Rs 1,000 crore (US$ 203.17 million) in the unutilised investment limits for government debt.
May 12, 2009	The Securities and Exchange Board of India (SEBI) has issued simplified rules governing corporate debt paper, thereby making it possible to raise funds quicker on domestic capital markets.
May 12, 2009	The Insurance Regulatory and Development Authority of India (IRDA) has asked life insurance companies to float a separate subsidiary to take up the pension fund management business under the new pension scheme (NPS).
May 11, 2009	The government is likely to significantly alter the controversial Press Notes 2, 3 and 4 in a couple of weeks to close loopholes that give firms leeway to exceed limits on foreign direct investment (FDI) in various sectors.
May 10, 2009	The Department of Telecom has set a deadline of September 20, 2009, for mobile operators to upgrade their respective networks for implementing number portability.
May 04, 2009	The Department of Telecom has cleared a proposal from the cellular industry to carry out a project whereby the international mobile equipment identity (IMEI) number will be transplanted on the handsets through a software.
April 30, 2009	Paving the way for the New Pension Scheme (NPS) from May 1, 2009, the Pension Fund Regulatory and Development Authority (PFRDA) on April 29, 2009, announced the investment guidelines for contributory plans.
April 28, 2009	The Telecom Regulatory Authority of India (TRAI) has directed mobile operators to seek written consent from the users who have subscribed to their value-added services (VAS) in order to prevent accidental activation of such services.
April 25, 2009	The market regulator Securities and Exchange Board of India (SEBI) has amended certain clauses in the equity listing agreement to bring more transparency and efficiency in the governance of a listed company.

April 24, 2009	The government has imposed a special anti-dumping duty on import of cold-rolled flat stainless steel products to shield domestic producers from the threat of cheaper imports.
April 24, 2009	The Reserve Bank of India (RBI), as part of its guidelines on outsourcing of financial services by banks, has directed banks to submit an annual compliance certificate giving the particulars of outsourcing contracts.
April 24, 2009	Egypt has withdrawn additional import duty on Indian cotton yarn, fabric and sugar on the back of strong protests from the Indian government.
April 23, 2009	The government on Wednesday said that the import of key communication hardware like radio equipment will require a licence from the Ministry of Communication and IT without any approval of the Commerce Ministry.
April 23, 2009	The Reserve Bank (RBI) of India has decided to review and monitor the performance of credit rating agencies, for continuation of their accreditation.
April 23, 2009	The Reserve Bank of India (RBI) has decided to allow banks to also issue guarantees for periods beyond 10 years.
April 22, 2009	The Reserve Bank of India (RBI) would keep on hold plans to liberalise the operation of foreign banks, including giving them more freedom to acquire private sector banks and extending national treatment to their wholly-owned subsidiaries.
April 21, 2009	In a move that would allow banks to expand their automated teller machines (ATM) networks more easily, the Reserve Bank of India (RBI) has done away with the requirement of prior regulatory approval for setting up offsite ATMs.
April 17, 2009	The new foreign trade policy, which is being prepared by the Commerce Ministry, will be aligned with the Goods and Services Tax (GST) after April 1, 2010, only after implementation of this indirect tax mechanism.
April 17, 2009	The government has set June 30, 2009 as the deadline for unbundling of state electricity boards (SEBs) into separate entities for power generation, transmission, distribution and trading business.
April 16, 2009	In a move that will allow greater transparency in human clinical trials conducted in India, the registration of all such trials will be made mandatory starting in June 2009. The move has also been approved by the Drugs Technical Advisory Board (DTAB), the highest drug advisory body in India.
April 14, 2009	Market regulator Securities Exchange Board of India (SEBI) has permitted foreign institutional investors (FIIs) and mutual funds to invest in Indian Depository Receipts (IDRs).
April 14, 2009	The Election Commission (EC) has cleared the government's decision to allow zero duty import of raw and refined sugar under the open general licence scheme.
April 02, 2009	Cash withdrawals from bank will not attract tax from April 1, 2009. This is following abolition of the banking cash transaction tax (BCTT) in the Union Budget 2008-09.
April 01, 2009	Ports in special economic zones (SEZs) will now have to be set up in the non-processing area and will have to be demarcated from the rest of the SEZ. This is a part of the new guidelines issues by the Commerce and Industry Ministry.