Search Result for : Foreign Currency

EEPC signs MoU with PNB for easy loans, advisory support to exporters

The Dollar Business Bureau The premier trade and investment promotion body for traders and SME exporters in India, Engineering Export Promotion Council (EEPC), on Monday signed a memorandum of understanding (MoU) with state-owned Punjab National Bank (PNB) to give easy access to finance to the exporters’ community. Sanjeev Sharan, Executive Director, PNB, said that up to Rs.10 crore worth of loans would be given to exporters at competitive interest rates, within 6-7 weeks after filing of the application. “Such an arrangement and other export-friendly measures were a part of the agreement,” he added. As per the agreement, PNB would extend facilities for foreign currency loans to the members of EEPC and also offer advisory support for financing projects with the help of its network of 200 ...

Rupee appreciation dents exporters profitability: CRISIL

The Dollar Business Bureau The strengthening of rupee against the dollar in past few months might have squeezed the margins of profit of exporters during the first quarter of this fiscal, global credit rating agency CRISIL said. “The sharp appreciation in the rupee against the dollar in recent months is likely to have dented the first-quarter (current fiscal) profitability of exporters that source locally and have limited pricing power,” CRISIL said.  Since January, the rupee has increased by more than 5% against the dollar. It closes at around 64.54 on Tuesday. A weak currency benefits the exporters, however, it makes imports, foreign education and travel more costly. An analysis by CRISIL of the top ten export-oriented industries shows textiles, leather, seafood, meat and basmati rice are highly vulnerable ...

Growth in economic activity and trade overshadowed by rising deficit

Abin Daya the author of 'Basics of Trade: An India Perspective' is a FEMA expert, a career transaction banker, with close to 15 years of experience in corporate and transaction banking, in India. By Abin Daya Well, the effect of that abysmal performance of the core sector had to have some effect on the IIP. IIP numbers have come in at the lowest in 4 months with -1.2% growth. However, the coming months might give us some respite considering the improvement in economic activity during the month of March. And speaking of March, we have got a second consecutive month of double digit export growth during the month, and that has helped us pull off a positive growth in annual export figures after ...

CBEC Exchange Rates W.e.f. November 30th, 2016

Dated 29th, November 2016 | Copy of | Notification No. 143/2016-Customs (N.T.) | In exercise of the powers conferred by section 14 of the Customs Act, 1962 (52 of 1962), the Central Board of Excise & Customs hereby makes the following amendments in the Notification of the Central Board of Excise and Customs No.138/2016-CUSTOMS (N.T.), dated 17th November, 2016, with effect from 30th November, 2016, namely:-In the SCHEDULE-I of the said Notification for serial No.12 and the entries relating thereto, the following shall be substituted, namely:- Sd/-(Kshitendra Verma)Under Secretary to the Govt. of India F.No.468/01/2016-Cus.VIssued by:Ministry of Finance(Department of Revenue)(Central Board of Excise and Customs)New Delhi

Govt revises tariff rates for gold, silver

The Dollar Business Bureau The Government on Friday changed the tariff value – the base import prices of a commodity - of several products including gold and silver. The tariff value for gold has been revised to $430 per 10 grams from $428 per 10 grams and for silver to $620 per kilogram from $612 per kilogram. The government revises the tariff rates for certain goods from time to time, which is usually done every fortnight. The changes are made considering the changes in foreign currency rates, the movements in the international markets and on the basis of average price or wholesale price of various manufacturers as the government may consider right. The tariff value is a national value used to calculate the duty payable ...

RBI balance sheet increases 12.3% in 2015-16

The Dollar Business Bureau  The Reserve Bank of India (RBI) said on Tuesday that the bank’s balance sheet has surged to Rs.32,43,011 crore, an increase of 12.3 percent, for the year closed on June 30. During the same period a year earlier, the balance sheet of central bank’s stood at Rs.28,89,152 crore. “The increase on the asset side was due to an increase in foreign investments and domestic investments by 7.98 per cent and 35.64 percent, respectively, and on the liability side due to increase in notes in circulation and other liabilities and provisions by 15.92 per cent and 14.77 percent, respectively,” the Reserve Bank said in its annual report for the year 2015-16. During the given period, the assets in foreign currency and gold (consisting of gold ...

CBEC Exchange Rates W.e.f. December 3rd, 2015

Dated December 3rd, 2015 | Copy of | Notification No. 136/2015-CUSTOMS (N.T.) |   In exercise of the powers conferred by section 14 of the Customs Act, 1962 (52 of 1962), and in super session of the notification of the Central Board of Excise & Customs No.112/2015-CUSTOMS (N.T.), dated 19th November, 2015, except as respects things done or omitted to be done before such supersession, the Central Board of Excise & Customs hereby determines that the rate of exchange of conversion of each of the foreign currencies specified in column (2) of each of Schedule I and Schedule II annexed hereto, into Indian currency or vice versa, shall, with effect from 4th December, 2015, be the rate mentioned against it in the ...

CBEC Exchange Rates w.e.f. November 19th, 2015

Dated November 19th, 2015 | Copy of | Notification No.112/2015-Customs (N.T.) | In exercise of the powers conferred by section 14 of the Customs Act, 1962 (52 of 1962), and in super session of the notification of the Central Board of Excise & Customs No.106/2015-CUSTOMS (N.T.), dated 5th November, 2015, except as respects things done or omitted to be done before such supersession, the Central Board of Excise & Customs hereby determines that the rate of exchange of conversion of each of the foreign currencies specified in column (2) of each of Schedule I and Schedule II annexed hereto, into Indian currency or vice versa, shall, with effect from 20th November, 2015, be the rate mentioned against it in the corresponding entry ...