Business Today

Noted

By SEBI, norms to set up dedicated stock exchanges for Small and Medium Enterprises (SMEs). Such exchanges will be corporate entities and will have to de-mutualise within two years, according to the new norms.

     Print Edition: November 30 2008

Released: By SEBI, norms to set up dedicated stock exchanges for Small and Medium Enterprises (SMEs). Such exchanges will be corporate entities and will have to de-mutualise within two years, according to the new norms.

Authorised: By the government, economic think-tank Centre for Monitoring Indian Economy (CMIE), to collect data to be used for compilation of the new series of Index of Industrial Production (IIP), which will replace the index currently in use.

Risen: To 10.72 per cent, the inflation rate for the week ended October 25 on account of rising prices of essential commodities such as vegetables, pulses and cereals, and some manufactured items. This halts the five-week downward trend in this figure.

Dipped: To 11 per cent, the growth in direct tax collections in October 2008. This is way below the growth rate of 25.6 per cent required to achieve the set target. The government mobilised Rs 19,708 crore in direct taxes during the month under review, compared to Rs 18,809 crore in the corresponding month last year. The government had scaled up the collection target in Budget from Rs 3,65,000 crore to a little less than Rs 4,00,000 crore. To meet the initial Budget estimate, direct tax collections need to grow by 16.07 per cent.

Joined: As President of Anil Dhirubhai Ambani Group company Reliance Money’s exchange business, Rajnikant Patel, former CEO of the Bombay Stock Exchange. Patel was responsible for the corporatisation and democratisation of the stock exchange, making it a billion-dollar institution.

Terminated:
By the Naresh Goyal-controlled Jet Airways, the services of 35 expat pilots, from its 737-400 fleet. Jet has 258 expat pilots, 198 flying B-777s and A-330s and 60 piloting 737s. In all, there are 900 expat pilots in India. DGCA had earlier this year given a written directive to airlines to submit a plan on how they would ease out the expats and how they intended to train Indian pilots. The deadline for easing out expats from all airlines is July 31, 2010.

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