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December 13, 2013
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Electronic insurance repository enables centralised e-policy holdings and streamlined service requests, including authorized representative operation.
The Insurance Repository System permits holding and managing insurance policies electronically via an Electronic Insurance Account (eIA) to enhance issuance and maintenance efficiency, transparency and cost reduction. Repositories centralise policy access and process most service requests on behalf of policyholders, reducing the need to visit multiple insurers for changes like address or nomination. The eIA allows appointment of an authorized representative to operate the account on death or disability, aiding nominees and assignees in claiming policy benefits.
December 13, 2013
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Establishment of Bharatiya Mahila Bank confirms operation with nine branches and no plan for further similar banks.
Established Bharatiya Mahila Bank Limited under government initiative; inaugurated in November 2013 and currently operational with branches in Mumbai, Kolkata, Chennai, Bengaluru, Lucknow, Ahmedabad, Guwahati, New Delhi and Indore, and with no proposal to set up further such banks.
December 13, 2013
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New Development Bank mobilizes resources for infrastructure and sustainable development, subject to multilateral negotiation among member states.
Establishment of a New Development Bank is proposed to mobilize resources for infrastructure and sustainable development projects in BRICS and other emerging economies, with substantial initial capital contributions. The Bank will be constituted as a multilateral arrangement under an international agreement, and its conduct, time frame and final outcomes will be determined through negotiations among member states rather than by any single national government.
December 13, 2013
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Continuation of District Component of Backward Regions Grant Fund ensures central grant support and bottoms-up local development planning.
Continuation of the District Component of the Backward Regions Grant Fund (BRGF) Programme is approved to operate in its existing form for 2013-14 and until a restructured BRGF is introduced. The District Component covers 272 backward districts across 27 states and is provided as Additional Central Assistance to State Plans on a fully funded grant basis, implemented by the Ministry of Panchayati Raj. The BRGF adopts a bottoms-up planning approach with plans prepared at gram panchayat level and consolidated at district level to address regional imbalances and strengthen local governance.
December 12, 2013
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Investment promotion and protection encourages cross-border investments while requiring admission under host state laws to boost bilateral flows.
A Bilateral Investment Promotion and Protection Agreement (BIPPA) between India and the UAE establishes a framework to promote and protect investments, obliges each Party to encourage and create favourable conditions for investors of the other Party, and requires admission of investments in accordance with the host Party's domestic laws to facilitate increased bilateral investment flows.
December 12, 2013
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Foreign direct investment approvals permit two proposals while others face deferral, clarification or abeyance under FDI norms.
Approval was granted for two Foreign Direct Investment proposals - additional foreign investment including post facto approval into a pharma company and a 50:50 joint venture to operate duty free retail - while one housing finance proposal was deferred for non compliance with minimum capitalization norms, one applicant was asked for clarification on shareholding limits in a joint venture, and one proposal was kept in abeyance.
December 11, 2013
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Corporate Social Responsibility contribution to Chief Minister's Relief Fund for disaster relief and rehabilitation efforts.
SPMCIL presented a cheque to the Uttarakhand Chief Minister for deposit into the Chief Minister's Relief Fund as part of the company's Corporate Social Responsibility activities to support flood relief and rehabilitation.
December 11, 2013
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National Investment and Manufacturing Zones promote integrated infrastructure and regulatory reforms to support manufacturing growth and employability.
The National Manufacturing Policy establishes National Investment and Manufacturing Zones (NIMZs) as integrated industrial townships providing state-of-the-art infrastructure, clean and energy-efficient technology, simplified regulatory procedures and social and institutional services to promote manufacturing and employability; NIMZs differ from export-oriented special zones in scale, infrastructure planning, governance of regulatory processes, exit arrangements and fiscal incentive frameworks, and specific impacts cannot yet be assessed as the zones are in initial development stages.
December 11, 2013
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Central grant support for industrial parks restructured with revised eligibility rules and mandatory state implementing agency contribution requirements.
Central grant assistance frameworks for sectoral private industrial parks provide graded grant aid excluding land costs under the Mega Leather Cluster scheme and revised central support under the Modified Industrial Infrastructure Upgradation Scheme, which sets central grant percentages, project ceilings and mandatory State Implementing Agency contributions with special provisions for North Eastern States. The National Manufacturing Policy advances National Investment and Manufacturing Zones as integrated industrial townships focused on employment intensive sectors and calls for increased public and private investment in research and development to support manufacturing growth.
December 11, 2013
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Foreign direct investment policy expanded to allow broad automatic FDI and require domestic sourcing safeguards in retail.
The policy permits broad Foreign Direct Investment on the automatic route with continuous review to enhance investor friendliness; the Government actively promotes and facilitates investment through information, advisory support, international cooperation, industry partnership and a single window facilitator, Invest India. A high level group will examine internal trade reforms, and multi brand retail is subject to a domestic sourcing requirement obliging retailers to procure a designated share of manufactured/processed goods from Indian small and medium enterprises and farmer/agri cooperatives to bolster MSME integration.
December 11, 2013
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Procurement-related support counted as trade-distorting: interim WTO mechanism limits accounting for national food security programmes until permanent solution.
The National Food Security Act's subsidised-food measures are compatible with WTO rules, but government acquisition and procurement support must be accounted for as trade-distorting support and constrained by negotiated limits. At the Bali Ministerial members agreed an interim mechanism, negotiated with developing-country participation, to govern treatment of procurement-related support until a permanent solution is adopted.
December 11, 2013
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Public stockholding protection: interim WTO mechanism shields developing-country food security programmes from challenges if conditions met.
A Ministerial Decision at the Ninth WTO Ministerial Conference creates an interim protection mechanism for public stockholding programmes for food security by developing country Members, shielding those programmes from WTO challenges alleging excess support provided the programmes meet specified interim conditions, and links that protection to ongoing negotiations toward a permanent solution to be adopted by a future ministerial conference.
December 11, 2013
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Trade deficit narrowed as exports rose and imports fell, driven by lower non oil imports and mixed oil trends.
Exports in November 2013 rose in dollar and rupee terms and cumulative April-November exports grew year on year. Imports in November declined in dollar terms while cumulative imports fell in dollars but rose in rupees. Oil imports were marginally lower in November but higher cumulatively; non oil imports declined sharply both monthly and cumulatively. These movements resulted in a narrower trade deficit for April-November 2013-14 compared with the same period in the previous year, with provisional statistics provided in both currencies and percentage growth rates.
December 10, 2013
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Abuse of dominant position leads to mandated modification of fuel supply agreements and penalties for discriminatory contractual clauses.
Coal India Limited and certain subsidiaries were found to hold dominant position in the non coking coal market and to have abused that dominance by imposing unfair, discriminatory terms in Fuel Supply Agreements-notably biased sampling and testing procedures, charging buyers for transportation and ungraded coal expenses, and capping compensation for stones. The Commission directed a cease and desist, monetary penalty, mandated modification of FSAs to remove discriminatory clauses, and required stakeholder consultation and parity between different classes of power producers in implementing changes.
December 10, 2013
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Foreign Direct Investment: one proposal approved with investor exit and no fresh inflow; telecom equity increase proposal deferred.
Foreign Direct Investment action: approval granted for exit and repatriation of capital by foreign investors in a construction-sector company with no fresh inflow; a separate proposal to increase foreign equity participation to full ownership in a telecom-sector company has been deferred.
December 9, 2013
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Foreign direct investment policy permits full foreign ownership under automatic route in most sectors and relaxes caps across key sectors
Government amended sectoral caps and entry routes across multiple sectors to make the FDI regime more investor friendly, expanding permissive entry through the automatic route to allow full foreign ownership in most sectors. The policy was adopted after consultations with concerned ministries and is supported by active government promotion, coordination with industry associations, and the creation of Invest India as a single window facilitator to attract and assist overseas investors.
December 9, 2013
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Industrial corridor policy advances integrated industrial townships, funding and international participation enable phased development under national manufacturing push
Development of designated Investment Regions and Industrial Areas will proceed as integrated industrial cities launched through planned townships of roughly twenty five to fifty square kilometres, supported by a central Implementation Fund and a separate project development fund, with international financing signalled for projects involving foreign participation and linked to a National Manufacturing Policy promoting manufacturing expansion and employment generation.
December 9, 2013
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Economic corridor cooperation advances feasibility studies and partner-funded planning for major industrial corridors and infrastructure sequencing.
Four national industrial corridors are planned to drive manufacturing and infrastructure-led growth through commissioned studies and nodal arrangements. The DMIC follows the Western Dedicated Freight Corridor with phased investment regions and Japanese support. CBIC is advancing under a JICA preliminary study with Phase II Terms of Reference for regional and node master plans. BMEC feasibility has been finalised with external cooperation and will be funded and procured by the Government with DMICDC as nodal agency. AKIC preparatory work will leverage the Eastern Dedicated Freight Corridor and inland waterways.
December 9, 2013
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Corporate Social Responsibility: PSUs under ministry report allocated funds and ongoing community projects across multiple states.
Corporate Social Responsibility by CPSEs under the Ministry follows DPE guidelines and reports annual CSR allocations by specified PSUs over four years, with some PSUs showing nil allocations. Reported CSR activities include health care, infrastructure, education, water management, waste recycling, provision of prosthetic aids and disaster relief; projects cover multiple states and most current-year projects are in progress, as stated by the Minister of State.
December 5, 2013
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Service tax liability clarified: payable by IT department on invoices issued under the project's RFP payment schedule.
Service tax liability under the NJRS project is allocated to the ITD, which must pay service tax at prevailing rates on invoices submitted by the Implementing Agency, with payment responsibility tied to the contractual payment schedule referenced in the RFP.

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