Corrigendum to the Press Release Dated 30.12.2014 in Respect of 212th Meeting Of FIPB



Corrigendum to the Press Release Dated 30.12.2014 in Respect of 212th Meeting Of FIPB


This is with reference to PIB Press Release dated 30th December 2014 titled `GOVERNMENT APPROVES EIGHT (8) PROPOSALS OF FOREIGN DIRECT INVESTMENT (FDI) AMOUNTING TO ABOUT RS. 34.77 CRORE`
 Sl.no.2 of para 2 of in the list of proposals attached with the aforesaid Press Release may please be read as under:


Sl. No.
Name of the applicant
Gist of the proposal
Sector
2.
M/s Biogenomics Limited
Approval has been sought by M/s Biogenomics Limited to increase the foreign equity from 74% to 92.28% of the existing foreign shareholders by further infusion of capital amounting to Rs.75 crores.
Pharma


***

Change in Tariff Value of Crude Palm Oil, RBD Palm Oil, Others – Palm Oil, Crude Palmolein, RBD Palmolein, Others – Palmolein, Crude Soyabean Oil, Brass Scrap (All Grades), Poppy Seeds, Areca Nuts, Gold and Silver Notified 



In exercise of the powers conferred by sub-section (2) of Section 14 of the Customs Act, 1962 (52 of 1962), the Central Board of Excise & Customs(CBEC), being satisfied that it is necessary and expedient so to do, hereby makes the following amendment in the notification of the Government of India in the Ministry of Finance (Department of Revenue), No. 36/2001-Customs (N.T.), dated the 3rd August, 2001, published in the Gazette of India, Extraordinary, Part-II, Section-3, Sub-section (ii), vide number S. O. 748 (E), dated the 3rd August, 2001, namely:-



In the said notification, for TABLE-1, TABLE-2, and TABLE-3, the following Tables shall be substituted namely:-




Sl. No.
Chapter/ heading/ sub-heading/tariff item
Description of goods
Tariff value US $
(Per Metric Tonne)
(1)
(2)
(3)
(4)
1
1511 10 00
Crude Palm Oil
669
2
1511 90 10
RBD Palm Oil
696
3
1511 90 90
Others – Palm Oil
683
4
1511 10 00
Crude Palmolein
700
5
1511 90 20
RBD Palmolein
703
6
1511 90 90
Others – Palmolein
702
7
1507 10 00
Crude Soya bean Oil
843
8
7404 00 22
Brass Scrap (all grades)
3697
9
1207 91 00
Poppy seeds
3747

TABLE-2
Sl. No.
Chapter/ heading/ sub-heading/tariff item
Description of goods
Tariff value
(US $)
(1)
(2)
(3)
(4)
1
71 or 98
Gold, in any form, in respect of which the benefit of entries at serial number 321 and 323 of the Notification No. 12/2012-Customs dated 17.03.2012 is availed
392 per 10 grams
2
71 or 98
Silver, in any form, in respect of which the benefit of entries at serial number 322 and 324 of the Notification No. 12/2012-Customs dated 17.03.2012 is availed
519 per kilogram   


TABLE-3

Sl. No.
Chapter/ heading/ sub-heading/tariff item
Description of goods
Tariff value
(US $ Per Metric Tons )
(1)
(2)
(3)
(4)
1
080280
Areca nuts
2183”


*****

Two Day Bankers’ Retreat in Pune on 2nd and 3rd January, 2015 to Focus on Achieving Universal Financial Inclusion, Leveraging Technology & Digital to Improve Banking Operations Efficiency,Rethinking Priority Sector Lending and Improving Risk Management, Asset Quality and Recovery Among Others; 

Sessions to be Addressed by Experts; PM to Participate in Concluding Session 

Government of India, Ministry of Finance, Department of Financial Services in collaboration with Central Advanced Financial Research And Learning (CAFRAL) and National Institute of Bank Management (NIBM), is organising a two days Retreat for Public Sector Banks, Public Sector Insurance Companies and Financial Institutions. All CMDs of Public Sector Banks, Public Insurance Companies, Financial Institutions and all Executive Directors from Public Sector Banks will attend the function. Finance Minister, MOS (Finance),Chief Economic Advisor, Finance Secretary, Secretary (Financial Services), Governor, RBI and Deputy Governors, RBI will participate. The two day top level “Retreat for Banks and Financial Institutions” is also termed as “ ‘Gyan Sangam’ and its logo is :



The Retreat will start at 01.30 PM on 02nd of January, 2015. After the introductory session where objectives of such an exercise are explained, there will a session on best practices where outstanding work done by banks will be showcased. The list of best practices selected for presentation is enclosed. After that the methodology for working discussion groups will be explained and 03.45 PM onwards the groups will start discussing and debating the following six issues:-

1.      Achieving universal financial inclusion.
2.      Leveraging technology & digital to improve banking operations efficiency.
3.      Rethinking priority sector lending.
4.      Improving risk management, asset quality and recovery.
5.      Building a robust people strategy for PSBs.
6.      Consolidation & restructuring of PSBs for better efficiency, governance & capital efficiency.
                           The groups will discuss everything threadbare in presence of experts. The list of experts group-wise is annexed. The groups will finalise the report and report it back to plenary. On the second day, the day will begin with yoga. Regular sessions will begin at 09.00 A.M. with a talk by Swami Sukhbodhanandji on “Leadership and Change Management”. Finance Minister & Governor, RBI will join the deliberation for the entire day on 03rd January, 2015. After 10.30 AM, the groups will make presentation about their discussions, findings and recommendations. There will be a talk on financial architecture of MSME by Shri K.V. Kamath, who is also heading a committee on the same subject. The Prime Minister will arrive at 04.30 PM. The groups again re-grouped into three will make brief presentations before the Prime Minister. Thereafter, the Prime Minister will interact and address the gathering. The Retreat would be concluded around 07.00 P.M.

The best practices selected

1. Axis Bank Mobile Youth account Retail banking Product design based on life insights BP
2. IDBI Bank Electronically secured bank and treasury receipts Payments Electronification of Government receipts and customer convenience BP

3. State bank of India Specialised cadre IT function creating a viable track for specialist talent in public sector banking BP

4. Andhra Bank Objective KRA/KPI for performance Human resources Transparent and IT enabled people evaluation system IP
List of Experts for different Sessions

Theme
External Experts
Achieving universal financial inclusion
1.      Dr. Nachiket Mor, Director,       RBI
2.      Shri A P Hota, CEO, NPCL
3.      Shri A Bhattacharya
Leveraging technology & digital to improve banking operations efficiency
1.      Shri V Vaidyanathan, CMD, Capital First
2.      Shri Nandakumar Sarvade, Citibank
3.      Prof G Sivakuymar, IIT, Mumbai
Rethinking priority sector lending
1.      Shri Chandrashekar Ghosh, Bandhan Financial Services
2.      Shri Ramesh Ramnathan, Janlakshmi
3.      Dr. P Kanagasabapathi, Professor, Coimbatore Instt of Management & Technology
4.      N R Prabhala
Improving risk management, asset quality and recovery
1.      Shri Paresh Sukhantkar, DMD, HDFC Bank Ltd
2.      Shri T T Rammohan, Professor, IIM-A
3.      Shri Sanjiv Malhotra, Director, SBI, Ex-CITI Risk Expert
Building a robust people strategy for PSBs
1.      Shri A K Khandelwal, Ex CMD, BOB
2.      Prof. T V Rao, IIM-Ahmedabad
3.      Smt Shubhalakshmi Panse, Ex-CMD, Alllahabad Bank
4.      G Gopalakrishna
Consolidation & restructuring of PSBs for better efficiency, governance and capital efficiency
1.      Shri P J Nayak, Ex-CMD, Axis Bank
2.      Shri B Mahapatra, Ex-ED, RBI
3.      Shri S Raman, Director, SEBI & Ex CMD, Canara Bank

Corrigendum to the Press Release Dated 30.12.2014 in Respect of 212th Meeting Of FIPB Corrigendum to the Press Release Dated 30.12.2014 in Respect of 212th Meeting Of FIPB Reviewed by Ajit Kumar on 8:05 PM Rating: 5

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