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"HAPPY BIRTHDAY-13TH OCTOBER 2017(FRIDAY) JASWINDER PAL SINGH SENIOR SPL ASSISTANT DON KALAN Jag Bhushan SR. ASST. (BANKING) AMBALA CANTT Jag Bhushan SR. ASST. (BANKING) AMBALA CANTT Om Parkash Sikri DEPUTY MANAGER ISMAILA BALDEV RAJ Addl. Associate 1 HANSLI BRIDGE, BATALA Ramesh Kumar SR. ASST. (BANKING) SME BRANCH, CHANDIGARH VEENA PACHPORE Addl. Associate 1 SEC 35-C, CHANDIGARH Ashok Kumar Goyal DEPUTY MANAGER ZONAL OFFICE HARYANA-GENERAL BANKING Kuldeep Kumar Sharma DEPUTY MANAGER ZONAL OFFICE JAMMU Jaswinder Singh SENIOR SPL ASSISTANT TRIPRI PATIALA Dalbir Singh SR. ASST. (BANKING) UDHAMPUR Ambika Chugh ASSISTANT MANAGER AMBALA CITY Sushma Gupta SR. ASST. (BANKING) CHANDI MANDIR Sushma Gupta SR. ASST. (BANKING) CHANDI MANDIR Parveen Kumar Sharma ASST. GEN. MANAGER NRI JULLUNDER HEM SINGH Addl. Associate 1 KASAULI MANJINDER SINGH RANDHAWA ASSISTANT MANAGER ANAJ MANDI, SIRHIND MANDI ASHUTOSH JAIN Addl. Associate 1 ADB MALERKOTLA DEEP CHAND MANAGER LOHAKA Raj Kumar Bhagat DEPUTY MANAGER BHOGPUR SATISH KUMAR Addl. Associate 1 AMBALA ROAD, ISMAILABAD SATISH KUMAR Addl. Associate 1 AMBALA ROAD, ISMAILABAD MUNISH BALI Addl. Associate 1 BANKING OPERATIONS DEPARTMENT-HEAD OFFICE PATIALA Nitin Soni DEPUTY MANAGER ZONAL OFFICE HARYANA-GENERAL BANKING SANJEEV BHATIA ASSISTANT MANAGER BEESLA Sudhir Kumar DEPUTY MANAGER REWARI Gurupdesh Kaur CUST. ASST. (BANKING) ROPAR PAYAL MEHTA Addl. Associate 1 GHUMAR MANDI, LUDHIANA AMIT RAJ DEPUTY MANAGER HO PATIALA -OUTREACH/FINACIAL INCLUSION DEPTT Nitin Sharma DEPUTY MANAGER(S) ROHRU AMRITA DEEPAK Addl. Associate 2 JALANDHAR ZONAL OFFICE-RO-I JALANDHAR -ADMIN JASWANT SINGH ASSISTANT MANAGER S.A. JAIN COLLEGE, AMBALA CITY Vikas Goyal CUST. ASST. (BANKING) MANSA PANKAJ KUMAR TAMTA DEPUTY MANAGER NOORMAHAL ROAD ,PHILLAUR SIMRANJEET SINGH CUST. ASST. (BANKING) SPECIALISED AGRI COMM BR, PATIALA AVINASH KUMAR Addl. Associate 1 ABLU RIGZIN GURMETH ASSISTANT MANAGER ALSINDI Deepshikha . CLERICAL - ON PROB. MOHALI (S.A.S. NAGAR) Rohit Dutta CUST. ASST. (BANKING) NEAR KHUSHI TRADES, SECTOR-11, PANCHKULA ANKIT . ASST. (BANKING) N.G.M. JIND Rohit Dutta CUST. ASST. (BANKING) NEAR KHUSHI TRADES, SECTOR-11, PANCHKULA ANKIT . ASST. (BANKING) N.G.M. JIND SUNIL KUMAR ASST. (BANKING) GHAGA Sandeep Dhillon ASSISTANT MANAGER AMRITSAR Ram . Kishan CUST. ASST. (BANKING) NAKODAR ROAD, JALANDHAR Amandeep Sharma CLERICAL - ON PROB. NANGAL BHUR *** table>

Monday, 2 February 2015

RBI Governor Raghuram Rajan warns against compromising India's interest for FDI

India will run a current account deficit for the foreseeable future, which means that it will need net foreign financing, he said. 

NEW DELHI: Reserve Bank Governor Raghuram Rajan today warned against compromising India's interest for the sake of attracting foreign INVESTMENT and said the priority should be framing transparent policies as well as resolving contractual tax disputes quickly.

"The most stable form of FINANCING foreign direct INVESTMENT has the additional benefit of bringing in technology and methods. But India should not be railroaded into compromising its interests to attract FDI," he said in a commentary posted on the website of Project Syndicate.

He, however, did not elaborate on what he thought could compromise India's interest. 

Making a case for transparency in policies and resolution of "contractual" disputes, especially over taxation, Rajan said efforts to ensure this have already begun.

India will run a current account deficit for the foreseeable future, which means that it will need net foreign financing, he said. 

Sustained growth in India requires lifting people out of poverty, fuelling infrastructure investment and a rethink on economic-policy approach, he said.

"If India is to succeed, it will have to deepen regional and domestic demand, strengthen its macroeconomic institutions, and join in the fight for an open global system. Diminished expectations abroad should not lead India to lower its ambitions," Rajan said. 

The new government under Prime Minister Narendra Modi in its eight months in office has relaxed FDI norms in insurance railways, construction, defence and medical devices sector.

Foreign inflows in the country rose by 22 per cent to USD 18.88 billion during the eight months of the current fiscal. The amount was USD 15.45 billion in the April-November period of 2013-14. 

"India needs an open, competitive, vibrant system of international trade and FINANCE he said.

Stating that responsibility for keeping global economy open may fall on emerging economies like India, Rajan said New Delhi should press for quota and management reforms in multilateral institutions, like IMF.

"India can no longer simply object to proposal by developed countries; it must put its own proposals on the table," he said.


Some People Could Lose Cooking Gas Subsidy

28 Jan, 2015
The under recovery on cooking gas was Rs 46,458 cr in 2013-14. The government could deny subsidy benefit to some sections – for instance, taxpayers in the highest bracket.

“We have given enough indication—some sections which don’t need the LPG subsidy will have to forgo that.”

- at the Vibrant Gujarat Summit on Jan 11 

Tax Incentives For ‘Make In India'

28 Jan, 2015
The govt is keen to make domestic manufacturing cost competitive. A short-term solution would be to offer tax incentives while the entire ecosystem is improved.

“So unless our taxation regime is internationally compatible, the cost of our product is going to be more…So am I going to provide them with a tax regime which is compatible to what they get across the world” 

- at the government’s Make in India programme in  December

But Don’t Expect Many Tax Concessions

Fiscal consolidation has to continue. The govt needs resources to step up public spending.

““For any finance minister to withdraw this tax or withdraw that tax is not so easily possible” until the govt is in a position to balance its accounts.”

- at the World Economic Forum in Davos on Jan 22, when asked if the minimum alternate tax could be lowered or removed

Incentives For NRI Investments

NRI investments through FDI in India since April 2000 stood at $4.7billion, or 1.98% of the total. The govt could provide an easier regime that puts NRI investment on par with domestic investment.

“Suggestion with regard to attracting more NRI investment is an issue which is actively under consideration.”

- at the World Economic Forum in Davos on January 22 

Greater Public Investment In Infrastructure

Chief economic advisor has called for greater public spending to revive investments. Idea has found greater support since then.

“A lot more endeavour by the govt in making our manufactu- ring more competitive, investment also including public investment in infrastructure.”

- at the Economic Times Global Business Summit on January 16 

Further Correction In Inverted Duty Structure

Inverted duty refers to the taxation of inputs at higher rates than finished products. This discourages domestic manufacturing.

“We are correcting the inverted duty structure, which can hurt certain sections of the industry.”

- at the World Economic Forum in Davos on January 22 

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