Three high-profile events this month, including the Chinese President Hu Jintao’s visit to India, will converge on a far-reaching proposal to build an international university at Bihar’s ancient seat of learning, Nalanda.
For the prosperous East Asians, including the Communist Chinese, who are rediscovering Buddhism, the Nalanda project is a labour of love and a spiritual debt.
For Bihar it could be that single big idea to kickstart economic reconstruction in the long neglected state and put it back at the heart of a re-integrating Asia.
If New Delhi and Patna can get their act together in the coming months, the East Asian enthusiasm for the Nalanda university project and the development of Buddhist circuit could change the face of not just Bihar but much of the Eastern Subcontinent that is home to the largest number of world’s poor.
Highlighting the new Chinese enthusiasm for Buddhism and the enduring links with the Indian civilisation are two Buddhist monks who arrive in Nalanda in the next few days.
The monks, one from mainland China and the other from Taiwan, are retracing the steps of Xuan Zang (better known in India as Hieun Tsang) who visited India in the seventh century when the Nalanda school was at the height of its intellectual influence all across Asia. Traveling overland, the two monks will be at Nalanda in the next few days.
After traveling overland from China to Bihar, the monks will fly into New Delhi, in time for President Hu’s arrival in the third week of November. Sources familiar with the preparations for Hu’s visit suggest the Chinese President will meet the monks and also formally endorse the Nalanda project.
Once China is on board, the rest of Asia is expected to join in what could be unprecedented multi-national Asian project to build the Nalanda University. Meanwhile, an international seminar on the Nalanda University, kicking off in Singapore next Sunday, is expected to focus on the many themes of the project.
The Singapore government, especially its foreign minister George Yeo, had been at the forefront of the Asian initiative on the Nalanda project. Singapore sees the university as the cutting edge of the important effort to re-establish the ancient links between the Subcontinent and East Asia.
Singapore believes an international university, with centres of excellence on science, religion, and humanities, all of which flourished in ancient Nalanda, could become the symbol of renewed cultural vigour in Asia along with its widely admired prosperity.
While Nalanda is yet to wake up to what’s in store for it, in a secluded corner, workers are now racing to meet the December deadline for completion of a Xuan Zang Memorial Hall being built jointly by the Indian and Chinese governments.
“We are rushing to complete the memorial since it is likely to be inaugurated by the Prime Minister in December,” said the Registrar of Nava Nalanda Mahavihara, S. P. Sinha.
The story of Xuan Zang Memorial Hall began in 1960-61. The Chinese government had handed over a cheque of Rs 5.7 lakh as its contribution for the project. However, it came to a halt in 1962 following the Chinese aggression. After lying abandoned for many years, it was completed by the CPWD in 1984 and in 2001 it was handed over to the Nava Nalanda Mahavihara, an institute dedicated to Buddhist studies under the Government of India’s Department of Culture.
But it remained abandoned till China once again developed interest in it. “Now the Chinese government is investing around Rs 3-4 crore to decorate the memorial hall. They have despatched materials in 12 containers which are due to reach within a couple of days,” said Sinha.
Apart from the two monks, a team of 30-40 members from the Chinese Central Television have taken the ancient Silk Route, the route taken by Xuan Zang, and are scheduled to reach Nalanda on November 18 to produce an 8-hour documentary on the traveller.
If things go well, it is likely that the Nalanda university project could eventually be offered for participation of the other Asian nations at the East Asia Summit.
While the project is drawing strong support from the Asian leaders, the huge amount of finance required will come in only if India can credibly signal that backward Bihar can indeed host such an international venture.
N.K. Singh, an economic administrator who served in many capacities in New Delhi over the years, is currently coordinating the Nalanda project in Bihar.
Currently the Deputy Chairman of the Bihar State Planning Commission, Singh is aware that building an international university in Nalanda must be part of a grander scheme to build infrastructure of every possible kind in Bihar
Sunday, June 24, 2007
Friday, June 22, 2007
Nalanda International University
Nalanda International University: A Great Initiative
by Bibhuti BikramadityaDaejeon, S Korea
March. 27, 2007
At last, Bihar government presented a Bill for the revival of Nalanda International University at Nalanda. We all should appreciate and give congratulations to the present government with a thumping desk to start the process of the revival of this International University which was known for the ancient seat of learning till 1197 AD. This university attracted 10,000 students and 2,000 scholars from Korea, Japan, China, Tibet, Indonesia, Persia and Turkey, besides being a pedestal of higher education in India and produced great scientists in the past, Aryabhatt was one of them who came to Bihar at the age of 13 from Kerala (some people says he was born nearby Patna) and become Vice chancellor of the University. Though it was devoted to Buddhist studies, the varsity also trained students in subjects like fine arts, medicine and mathematics.In the post independent era, talks were going on for the revival of this university and the demand was started in early 1990s but it took serious turn when our the President of India, Dr. Abul Kalam suggested to revive this university while addressing the both houses of Bihar Assembly. This gave impetus to this process and become an eye opener for Bihar government. Hats off to our beloved President of India. He deserves appreciation for this great initiative.As per the reports, Japan and Singapore have shown interest in investing about Rs.4.5 billion ($100 million) in the university. Tibetan spiritual leader Dalai Lama has offered to donate Buddhist artifacts to the proposed university.A high-level international team of consultants is going to be formed for the establishment of the International University. In the initial phase, Nobel laureate Prof Amartya Sen and British Economist Professor in London School of Economics & member of the House of Lords, Lord Meghnad Desai have agreed to be part of an international group of consultants. The state government is also in the process of roping experts from Singapore and Japan and other countries for the revival of this unique university.The report states that in its first phase, the university will offer only post-graduate, research, doctoral and post-doctoral degrees. However, the report - prepared by the Educational Consultants of India, a consulting company under the union ministry of human resource development - is also in favor of offering undergraduate courses in specific areas.The university will impart courses in science, philosophy and spiritualism along with other subjects. An internationally known scholar will be the chancellor of the university and 1,137 students from both India and abroad will be enrolled in the first year. By the fifth year, the number will go up to 4,530 and in the second phase, student enrolment will increase to 5,812.The university, spread over a 500 acres, will have a 1:10 faculty-student ratio. The 46 international faculty members will receive an estimated $36,000 per annum as salaries.The University of Nalanda Bill, 2007, states that the international university would strive to create a world free of war, terror and violence.According to Chief Minister Sri Nitish Kumar, "This (bill), which is not only for Bihar or even India, will act as a facilitator for what will emerge as a centre for renaissance of the east. He strongly feels that the university will become a reference point for international relations and a centre for peace and resolution of disputes.We do hope this University will be the center of excellence, will gather students from all over the world in all areas of life sciences and physical sciences including arts, culture and spiritualism which is the backbone of India.
Comments:
Re-opening of world fame International Nalanda University is a very good news. It will bring the historical importance back to Bihar. Bit at the same time Bihar Govt. must improve roads and lights so that people can feel that some improvement is done. - T S P Sinha, Jamshedpur - Mar. 28, 2007
I was so pleased to read this article. Finally we are heading to establishment of glorious Bihar again. Revival of Nalanda University should have been the prior attention of the government effort but it’s not too late. If this project is successfully executed it would be the great gift for Biharis as well as for other states' people.We should put all our effort to make this great project successful. The revival of ancient university could be the mile stone in educational field. Our respected President and chief minister should be really appreciated for this wonderful thought. Now once again Bihar will be in world’s map. - Mamta, USA - Mar. 28, 2007
How does it sound 27% quota for OBC, 22% for SC and 7.5% for ST in this world fame International Nalanda University? - Parshuram - Mar. 29, 2007
Yeah, a very good news and a good initiative on the whole .However one name seems to have missed out from the list of people mentioned here, that is of one of the most capable bureaucrats of our time and the driving force behind this whole initiative......Mr. N K Singh. Mr. Singh has a chequered career at the helm of affairs as a former union revenue secretary (Conceptualized Voluntary Disclosure Scheme) then in PMO of Mr Vajpayee followed by an stint at Planning Commission. At Present, He is Dy. Chairman State Planning Board and the man leading the charge on many fronts including perhaps in presenting the state to Global financial Institution apart From This Nalanda Initiative. Christened by some media critics in aftermath of VDS scheme as "A person who gets things done". Aptly said indeed! - D. N. Mishra - Mar. 29, 2007
In present day and age it was Mahatma Gandhi who initiated the thinking process of revival behind the Nalanda as reference to Ahimsa being the greatest cause of nirvana or salvation by self contribution to understanding about the knowledge of the absolute and ultimate human code of conduct in an advanced society. That led Lord Buddha to be declared as the next half incarnation after Lord Krishna of the Lord Narayana. It would be a great tribute to the Mahatma if his name was figured as the contemporary modern day saint who took inspiration and became the guiding light on Lord Buddha's preaching. It has also got to be well understood as the establishment principle that Nalanda does not stand hostage to any religion and any binding organisation. - Viren Naik - Mar. 31, 2007
by Bibhuti BikramadityaDaejeon, S Korea
March. 27, 2007
At last, Bihar government presented a Bill for the revival of Nalanda International University at Nalanda. We all should appreciate and give congratulations to the present government with a thumping desk to start the process of the revival of this International University which was known for the ancient seat of learning till 1197 AD. This university attracted 10,000 students and 2,000 scholars from Korea, Japan, China, Tibet, Indonesia, Persia and Turkey, besides being a pedestal of higher education in India and produced great scientists in the past, Aryabhatt was one of them who came to Bihar at the age of 13 from Kerala (some people says he was born nearby Patna) and become Vice chancellor of the University. Though it was devoted to Buddhist studies, the varsity also trained students in subjects like fine arts, medicine and mathematics.In the post independent era, talks were going on for the revival of this university and the demand was started in early 1990s but it took serious turn when our the President of India, Dr. Abul Kalam suggested to revive this university while addressing the both houses of Bihar Assembly. This gave impetus to this process and become an eye opener for Bihar government. Hats off to our beloved President of India. He deserves appreciation for this great initiative.As per the reports, Japan and Singapore have shown interest in investing about Rs.4.5 billion ($100 million) in the university. Tibetan spiritual leader Dalai Lama has offered to donate Buddhist artifacts to the proposed university.A high-level international team of consultants is going to be formed for the establishment of the International University. In the initial phase, Nobel laureate Prof Amartya Sen and British Economist Professor in London School of Economics & member of the House of Lords, Lord Meghnad Desai have agreed to be part of an international group of consultants. The state government is also in the process of roping experts from Singapore and Japan and other countries for the revival of this unique university.The report states that in its first phase, the university will offer only post-graduate, research, doctoral and post-doctoral degrees. However, the report - prepared by the Educational Consultants of India, a consulting company under the union ministry of human resource development - is also in favor of offering undergraduate courses in specific areas.The university will impart courses in science, philosophy and spiritualism along with other subjects. An internationally known scholar will be the chancellor of the university and 1,137 students from both India and abroad will be enrolled in the first year. By the fifth year, the number will go up to 4,530 and in the second phase, student enrolment will increase to 5,812.The university, spread over a 500 acres, will have a 1:10 faculty-student ratio. The 46 international faculty members will receive an estimated $36,000 per annum as salaries.The University of Nalanda Bill, 2007, states that the international university would strive to create a world free of war, terror and violence.According to Chief Minister Sri Nitish Kumar, "This (bill), which is not only for Bihar or even India, will act as a facilitator for what will emerge as a centre for renaissance of the east. He strongly feels that the university will become a reference point for international relations and a centre for peace and resolution of disputes.We do hope this University will be the center of excellence, will gather students from all over the world in all areas of life sciences and physical sciences including arts, culture and spiritualism which is the backbone of India.
Comments:
Re-opening of world fame International Nalanda University is a very good news. It will bring the historical importance back to Bihar. Bit at the same time Bihar Govt. must improve roads and lights so that people can feel that some improvement is done. - T S P Sinha, Jamshedpur - Mar. 28, 2007
I was so pleased to read this article. Finally we are heading to establishment of glorious Bihar again. Revival of Nalanda University should have been the prior attention of the government effort but it’s not too late. If this project is successfully executed it would be the great gift for Biharis as well as for other states' people.We should put all our effort to make this great project successful. The revival of ancient university could be the mile stone in educational field. Our respected President and chief minister should be really appreciated for this wonderful thought. Now once again Bihar will be in world’s map. - Mamta, USA - Mar. 28, 2007
How does it sound 27% quota for OBC, 22% for SC and 7.5% for ST in this world fame International Nalanda University? - Parshuram - Mar. 29, 2007
Yeah, a very good news and a good initiative on the whole .However one name seems to have missed out from the list of people mentioned here, that is of one of the most capable bureaucrats of our time and the driving force behind this whole initiative......Mr. N K Singh. Mr. Singh has a chequered career at the helm of affairs as a former union revenue secretary (Conceptualized Voluntary Disclosure Scheme) then in PMO of Mr Vajpayee followed by an stint at Planning Commission. At Present, He is Dy. Chairman State Planning Board and the man leading the charge on many fronts including perhaps in presenting the state to Global financial Institution apart From This Nalanda Initiative. Christened by some media critics in aftermath of VDS scheme as "A person who gets things done". Aptly said indeed! - D. N. Mishra - Mar. 29, 2007
In present day and age it was Mahatma Gandhi who initiated the thinking process of revival behind the Nalanda as reference to Ahimsa being the greatest cause of nirvana or salvation by self contribution to understanding about the knowledge of the absolute and ultimate human code of conduct in an advanced society. That led Lord Buddha to be declared as the next half incarnation after Lord Krishna of the Lord Narayana. It would be a great tribute to the Mahatma if his name was figured as the contemporary modern day saint who took inspiration and became the guiding light on Lord Buddha's preaching. It has also got to be well understood as the establishment principle that Nalanda does not stand hostage to any religion and any binding organisation. - Viren Naik - Mar. 31, 2007
PENALTY
PENALTY
20. Offences
Whoever contravenes or attempts to contravene or abets the contravention of the provisions of this Act or any regulations or bye-laws made thereunder shall be punishable with imprisonment for a term which may extend to five years, or with fine, or with both.
21. Offences by companies
(1) Where an offence under this Act has been committed by a company, every person who at the time the offence was committed was in charge of, and was responsible to, the company for the conduct of the business of the company, as well as the company, shall be deemed to be guilty of the offence and shall be liable to be proceeded against and punished accordingly;
Provided that nothing contained in this sub-section shall render any such person liable to any punishment provided in this Act, if he proves that the offence was committed without his knowledge or that he had exercised all due diligence to prevent the commission of such offence.
(2) Notwithstanding anything contained in sub-section (1), where an offence under this Act has been committed by a company and it is proved that the offence has been committed with the consent or connivance of, or is attributable to any neglect on the part of, any director, manager, secretary or other officer of the company, such director, manager, secretary or other officer shall also be deemed to be guilty of the offence and shall be liable to be proceeded against and punished accordingly.
Explanation -For the purpose of this section, -
(a) "company" means any body corporate and includes a firm or other association of individuals; and
(b) "director" in relation to a firm, means a partner in the firm.
20. Offences
Whoever contravenes or attempts to contravene or abets the contravention of the provisions of this Act or any regulations or bye-laws made thereunder shall be punishable with imprisonment for a term which may extend to five years, or with fine, or with both.
21. Offences by companies
(1) Where an offence under this Act has been committed by a company, every person who at the time the offence was committed was in charge of, and was responsible to, the company for the conduct of the business of the company, as well as the company, shall be deemed to be guilty of the offence and shall be liable to be proceeded against and punished accordingly;
Provided that nothing contained in this sub-section shall render any such person liable to any punishment provided in this Act, if he proves that the offence was committed without his knowledge or that he had exercised all due diligence to prevent the commission of such offence.
(2) Notwithstanding anything contained in sub-section (1), where an offence under this Act has been committed by a company and it is proved that the offence has been committed with the consent or connivance of, or is attributable to any neglect on the part of, any director, manager, secretary or other officer of the company, such director, manager, secretary or other officer shall also be deemed to be guilty of the offence and shall be liable to be proceeded against and punished accordingly.
Explanation -For the purpose of this section, -
(a) "company" means any body corporate and includes a firm or other association of individuals; and
(b) "director" in relation to a firm, means a partner in the firm.
Wednesday, June 20, 2007
WEDDING
For Bride For Groom Wedding Preparations Planning Your Honeymoon Indian Weddings Features
For Bride
Bridal AccessoriesHair CareHair StyleBridal Henna DesignsJewelry for BrideLehengas for BrideMakeupSalwar SuitsSkin CareBridal TrousseauLight Party Make UpPre Wedding PackageWedding Saris
For Groom
Groom AccessoriesGrooms WearHair Care for GroomSherwaniSkin Care for GroomWedding Suits
Indian Wedding Planners
BangaloreChandigarhChennaiHyderabadKolkataMumbaiNew DelhiPune
Wedding Perparations
Pre Wedding Preparation
Post Wedding Preparation
Main Day Function
Plan Your Honeymoon
Honeymoon in IndiaHoneymoon GuideHoneymoon Packages
Indian Weddings
Hindu Marriage
Hindu Wedding Decorations
Main Day Functions
Post Wedding Functions
Pre Wedding Functions
Marriage Customs
Bengali WeddingMuslim WeddingMaharashtrian WeddingMalayalee WeddingPunjabi WeddingAssamese WeddingBuddhist WeddingEnglish Wedding SongsGujarati WeddingIndian Wedding SongsJain WeddingJewish WeddingKannada WeddingKashmiri WeddingMaithil Brahmin WeddingMarwari WeddingOriya WeddingSindhi WeddingTamil WeddingTelugu Wedding
Features
Common Marriage ProblemsVikram Chatwal Wedding
Arranged - Love MarriageArranged MarriagesInter Caste MarriagesLove & Arranged MarriagesLove MarriageMarriage Rituals CustomsMarriages in MetrosMarriages in VillagesMarriage TrendsMarrying Your Best FriendTypes of Hindu MarriagesWhat is Marriage
Here is given the favorite Indian wedding ceremony song list. Check out top 10 popular Hindi wedding songs.
Indian Wedding : Top 10 Indian Wedding Songs
Top 10 Indian Wedding Songs
In this section, we will provide you with the lyrics of top 10 Indian wedding songs. We will give you information on the popular Hindi wedding ceremony songs.Here is presented favorite Hindi wedding song list:
Dulhan Hum Le Jayenge (Dulhan Hum Le Jayenge)
Hai Na Bolo (Dulhan Hum Le Jayenge)
Joote Dedo Paise Lelo (Hum Aapke Hain Kaun)
Mehndi Laga Ke Rakhna (Dilwale Dulhaniya Le Jayenge)
Babul Ki Duaayein Leti Jaa (Neel Kamal)
Le Jayenge Le Jayenge (Chor Machaye Shor)
Saajan Ji Ghar Aaye (Kuchh Kuchh Hota Hai)
Mujhse Shadi Karogi (Mujhse Shadi Karogi)
Shaadi Tujhse Karoonga (Om Jai Jagdish)
Kar Do Shaadi (Suno Sasurji)
Indian Wedding Songs Babul Ki Duaayein Leti Ja Joote Dedo Paise Lelo Le Jayenge Le Jayenge Mehndi Laga Ke Rakhna Mujhse Shadi Karogi
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//-->
Ayurveda in India Cars in India Yoga Home Decor Garden Baby Care Gift Ideas Fitness Guide Pets Hotels in India Travel to India Spirituality in India Indian Literature
Bikes in India Baby Names Dances of India India Finance India Weather Indian Languages Beauty Tattoos Homemade Crafts Nutrition Guide Bollywood Stars
Contact Us Disclaimer Privacy Policy Advertise With Us
Copyright © iloveindia.com All Rights Reserved.
For Bride
Bridal AccessoriesHair CareHair StyleBridal Henna DesignsJewelry for BrideLehengas for BrideMakeupSalwar SuitsSkin CareBridal TrousseauLight Party Make UpPre Wedding PackageWedding Saris
For Groom
Groom AccessoriesGrooms WearHair Care for GroomSherwaniSkin Care for GroomWedding Suits
Indian Wedding Planners
BangaloreChandigarhChennaiHyderabadKolkataMumbaiNew DelhiPune
Wedding Perparations
Pre Wedding Preparation
Post Wedding Preparation
Main Day Function
Plan Your Honeymoon
Honeymoon in IndiaHoneymoon GuideHoneymoon Packages
Indian Weddings
Hindu Marriage
Hindu Wedding Decorations
Main Day Functions
Post Wedding Functions
Pre Wedding Functions
Marriage Customs
Bengali WeddingMuslim WeddingMaharashtrian WeddingMalayalee WeddingPunjabi WeddingAssamese WeddingBuddhist WeddingEnglish Wedding SongsGujarati WeddingIndian Wedding SongsJain WeddingJewish WeddingKannada WeddingKashmiri WeddingMaithil Brahmin WeddingMarwari WeddingOriya WeddingSindhi WeddingTamil WeddingTelugu Wedding
Features
Common Marriage ProblemsVikram Chatwal Wedding
Arranged - Love MarriageArranged MarriagesInter Caste MarriagesLove & Arranged MarriagesLove MarriageMarriage Rituals CustomsMarriages in MetrosMarriages in VillagesMarriage TrendsMarrying Your Best FriendTypes of Hindu MarriagesWhat is Marriage
Here is given the favorite Indian wedding ceremony song list. Check out top 10 popular Hindi wedding songs.
Indian Wedding : Top 10 Indian Wedding Songs
Top 10 Indian Wedding Songs
In this section, we will provide you with the lyrics of top 10 Indian wedding songs. We will give you information on the popular Hindi wedding ceremony songs.Here is presented favorite Hindi wedding song list:
Dulhan Hum Le Jayenge (Dulhan Hum Le Jayenge)
Hai Na Bolo (Dulhan Hum Le Jayenge)
Joote Dedo Paise Lelo (Hum Aapke Hain Kaun)
Mehndi Laga Ke Rakhna (Dilwale Dulhaniya Le Jayenge)
Babul Ki Duaayein Leti Jaa (Neel Kamal)
Le Jayenge Le Jayenge (Chor Machaye Shor)
Saajan Ji Ghar Aaye (Kuchh Kuchh Hota Hai)
Mujhse Shadi Karogi (Mujhse Shadi Karogi)
Shaadi Tujhse Karoonga (Om Jai Jagdish)
Kar Do Shaadi (Suno Sasurji)
Indian Wedding Songs Babul Ki Duaayein Leti Ja Joote Dedo Paise Lelo Le Jayenge Le Jayenge Mehndi Laga Ke Rakhna Mujhse Shadi Karogi
");
//-->
Ayurveda in India Cars in India Yoga Home Decor Garden Baby Care Gift Ideas Fitness Guide Pets Hotels in India Travel to India Spirituality in India Indian Literature
Bikes in India Baby Names Dances of India India Finance India Weather Indian Languages Beauty Tattoos Homemade Crafts Nutrition Guide Bollywood Stars
Contact Us Disclaimer Privacy Policy Advertise With Us
Copyright © iloveindia.com All Rights Reserved.
LOAN AGAINST SHARE
Loan Against Shares
It is advisable to take loan against equity (shares & debentures) only when you are expecting a certain sum of money a few months down the line and you need some funds in the interim. If you are reinvesting the loan amount, ensure that the benefits you derive are more than the cost you have to incur (which includes interest and a processing fee). And consider carefully the risk involved in such a move.
The loan is available in the form of an overdraft facility against the pledge of financial securities like shares/units/bonds. After you submit the loan application with all the share certificates and other relevant documents, a current account is opened in your name. You can then withdraw up to the amount sanctioned and interest will be charged only for the number of days you use the amount.The loan amount that can be sanctioned depends on two factors: the extent of funding on a particular stock and the price (called the base price) considered by the lender for calculating the value of the shares. The Reserve Bank of India (RBI) allows banks to lend up to 75 per cent of the value of demat shares and 50 per cent of the value of physical shares. But banks can, and do, fix their own limits with respect to the extent of funding within that range.Generally, demat shares get you a larger loan amount in faster time, at less rate of interest and at smaller processing fee. Every lender has an approved list of securities that he lends against and this list varies from lender to lender. There are other conditions that lenders apply on equity loans.
The loan is extended against shares of eligible companies and, in a few cases, units of reputed open-ended mutual funds.
Generally, a maximum of 20 shares can be pledged.
Only fully paid-up shares in the lender’s approved list of securities are accepted.
Shares held in the name of minors, HUFs, NRIs and companies are generally not accepted.
Loans against mutual fund units are based on their NAV value
It is advisable to take loan against equity (shares & debentures) only when you are expecting a certain sum of money a few months down the line and you need some funds in the interim. If you are reinvesting the loan amount, ensure that the benefits you derive are more than the cost you have to incur (which includes interest and a processing fee). And consider carefully the risk involved in such a move.
The loan is available in the form of an overdraft facility against the pledge of financial securities like shares/units/bonds. After you submit the loan application with all the share certificates and other relevant documents, a current account is opened in your name. You can then withdraw up to the amount sanctioned and interest will be charged only for the number of days you use the amount.The loan amount that can be sanctioned depends on two factors: the extent of funding on a particular stock and the price (called the base price) considered by the lender for calculating the value of the shares. The Reserve Bank of India (RBI) allows banks to lend up to 75 per cent of the value of demat shares and 50 per cent of the value of physical shares. But banks can, and do, fix their own limits with respect to the extent of funding within that range.Generally, demat shares get you a larger loan amount in faster time, at less rate of interest and at smaller processing fee. Every lender has an approved list of securities that he lends against and this list varies from lender to lender. There are other conditions that lenders apply on equity loans.
The loan is extended against shares of eligible companies and, in a few cases, units of reputed open-ended mutual funds.
Generally, a maximum of 20 shares can be pledged.
Only fully paid-up shares in the lender’s approved list of securities are accepted.
Shares held in the name of minors, HUFs, NRIs and companies are generally not accepted.
Loans against mutual fund units are based on their NAV value
सर्विस Tax In India
What is Service Tax? Here is simple definition of Service Tax
Home : Finance : Encyclopedia : Service Tax
Service Tax
Service Tax is a form of indirect tax imposed on specified services called "taxable services". Service tax cannot be levied on any service which is not included in the list of taxable services. Over the past few years, service tax been expanded to cover new services. The intention of the government is to gradually increase the list of taxable services until most services fall within the scope of service tax.
In the Union Budget of India for the year 2006-2007, service tax has been increased from 10% to 12%. For the purpose of levying service tax, the value of any taxable service should be the gross amount charged by the service provider for the service rendered by him.In 2005-2006, the services sector is estimated to 54% of GDP. As such, it should contribute also contribute significantly to the exchequer. To attain this objective, the Finance Minister has proposed to bring more services under the services tax net. The new services to be covered include:
ATM operations, maintenance and management.
Registrar, share transfer agents and bankers to an issue.
Sponsorships of events, other than sports events by companies.
International air travel excluding economy class passengers.
Container services on rail, excluding the railway freight charges
Business support services, auctioneering.
Recovery agents
Ship management agents
Travel on cruise ships
Public relation management services
Home : Finance : Encyclopedia : Service Tax
Service Tax
Service Tax is a form of indirect tax imposed on specified services called "taxable services". Service tax cannot be levied on any service which is not included in the list of taxable services. Over the past few years, service tax been expanded to cover new services. The intention of the government is to gradually increase the list of taxable services until most services fall within the scope of service tax.
In the Union Budget of India for the year 2006-2007, service tax has been increased from 10% to 12%. For the purpose of levying service tax, the value of any taxable service should be the gross amount charged by the service provider for the service rendered by him.In 2005-2006, the services sector is estimated to 54% of GDP. As such, it should contribute also contribute significantly to the exchequer. To attain this objective, the Finance Minister has proposed to bring more services under the services tax net. The new services to be covered include:
ATM operations, maintenance and management.
Registrar, share transfer agents and bankers to an issue.
Sponsorships of events, other than sports events by companies.
International air travel excluding economy class passengers.
Container services on rail, excluding the railway freight charges
Business support services, auctioneering.
Recovery agents
Ship management agents
Travel on cruise ships
Public relation management services
स्टॉक lending
MUMBAI, July 14: The National Stock Exchange (NSE) has received an in-principle approval from Sebi for its clearing corporation to be a stock lending intermediary.
The exchange will now submit the detailed business plan to Sebi and only once this is approved will it be in a position to kick-off stock lending operations.
The National Securities Clearing Corporation (NSCCL), a wholly owned subsidiary of NSE, had decided to enter into the stock lending business following delay on the part of the Stock Holding Corporation of India and Unit Trust of India to start off operations.
SHCIL has already received the Sebi nod for commencing operations. However, there has been a delay on the part of the custodian to kick-off stock lending.
In a statement issued on Tuesday, Sebi has said that the stock lending scheme which had come into force on February 6, 1997 is a scheme where the temporary needs of the borrower, like a broker, is met from the lenders portfolio, to support the trading activity or to meet thedelivery obligation.
The lender loans the securities to the borrower through an approved intermediary under an agreement which is for a specified period with the condition that the borrower shall return equivalent securities of the same type and class at the end of the specified period along with the corporate benefits accruing on the securities borrowed.So far, licenses for approved intermediaries have been granted to SHCIL, Reliance Capital and Deutsche Bank.
The exchange which has been keen to introduce stock lending as it feels that this is a counter to rival Bombay Stock Exchange's badla, has been miffed over delays in introducing the instrument.
The National Securities Depository Ltd is also putting in place a composite stock lending module to facilitate lending of shares in the demat form. Most intermediaries have already made it clear that the activity would pick up only in the demat form, as doing so in a paper-based system is extremely risky.
"We are keen to get on with the activity at theearliest. We will prepare the business plan and start off once that is approved," said NSE managing director RH Patil.
FIIs still sellers
MUMBAI: FIIs remained net sellers in the second week of July with the net outflow at Rs 19.5 crore despite the general trend witnessed in the market which indicated a positive FII outlook. However, compared with the previous week the outflow has come down considerably. Last week, the figure stood at Rs 75.7 crore. FIIs continued to remain out of the debt market for the second week in a row.
Copyright © 1998 Indian Express Newspapers (Bombay) Ltd.
The exchange will now submit the detailed business plan to Sebi and only once this is approved will it be in a position to kick-off stock lending operations.
The National Securities Clearing Corporation (NSCCL), a wholly owned subsidiary of NSE, had decided to enter into the stock lending business following delay on the part of the Stock Holding Corporation of India and Unit Trust of India to start off operations.
SHCIL has already received the Sebi nod for commencing operations. However, there has been a delay on the part of the custodian to kick-off stock lending.
In a statement issued on Tuesday, Sebi has said that the stock lending scheme which had come into force on February 6, 1997 is a scheme where the temporary needs of the borrower, like a broker, is met from the lenders portfolio, to support the trading activity or to meet thedelivery obligation.
The lender loans the securities to the borrower through an approved intermediary under an agreement which is for a specified period with the condition that the borrower shall return equivalent securities of the same type and class at the end of the specified period along with the corporate benefits accruing on the securities borrowed.So far, licenses for approved intermediaries have been granted to SHCIL, Reliance Capital and Deutsche Bank.
The exchange which has been keen to introduce stock lending as it feels that this is a counter to rival Bombay Stock Exchange's badla, has been miffed over delays in introducing the instrument.
The National Securities Depository Ltd is also putting in place a composite stock lending module to facilitate lending of shares in the demat form. Most intermediaries have already made it clear that the activity would pick up only in the demat form, as doing so in a paper-based system is extremely risky.
"We are keen to get on with the activity at theearliest. We will prepare the business plan and start off once that is approved," said NSE managing director RH Patil.
FIIs still sellers
MUMBAI: FIIs remained net sellers in the second week of July with the net outflow at Rs 19.5 crore despite the general trend witnessed in the market which indicated a positive FII outlook. However, compared with the previous week the outflow has come down considerably. Last week, the figure stood at Rs 75.7 crore. FIIs continued to remain out of the debt market for the second week in a row.
Copyright © 1998 Indian Express Newspapers (Bombay) Ltd.
Tuesday, June 19, 2007
International Funding नालंदा International university
Decks have been cleared for international funding of the proposed Nalanda International University at Nalanda. The Department of Economic Affairs (DEA), Ministry of Finance, Government of India, has included the university in its list of 'priority projects' for Japanese funding.
At a meeting in New Delhi, a power-point presentation was made before the officials of the department and representatives of the Japanese embassy, Japanese Bank for International Cooperation (JBIC), Overseas Development Agency (ODA) of Japan and other Japanese bodies.
HRD Commissioner-cum-Secretary MM Jha, who was present during the presentation, said that the inclusion of Nalanda University in the DEA's priority list was a big step forward, as it would open the gate for international funding. "The DEA prioritises various schemes in accordance with the importance and Nalanda University has been included in it now," he added.
Jha said that the university's unique character and objective of creating an "inclusive society in a world free from war, terror, violence and fear" was likely to draw the attention of the donors worldwide. It will have an international advisory group comprising renowned names to facilitate global linkages.
Several countries like Japan, Singapore and South Korea, have shown keen interest in the project. The Educational Consultants of India Limited (EDCIL), the consulting agency of the Human Resource Development Department, Government of India, has prepared the detailed project report (DPR) for the university.
The estimated cost of the proposed university, which will house seven to eight schools, has been pegged at Rs 1000 crore. Similar exercise will also be done for other interested international agencies and foreign countries for financial assistance.
At a meeting in New Delhi, a power-point presentation was made before the officials of the department and representatives of the Japanese embassy, Japanese Bank for International Cooperation (JBIC), Overseas Development Agency (ODA) of Japan and other Japanese bodies.
HRD Commissioner-cum-Secretary MM Jha, who was present during the presentation, said that the inclusion of Nalanda University in the DEA's priority list was a big step forward, as it would open the gate for international funding. "The DEA prioritises various schemes in accordance with the importance and Nalanda University has been included in it now," he added.
Jha said that the university's unique character and objective of creating an "inclusive society in a world free from war, terror, violence and fear" was likely to draw the attention of the donors worldwide. It will have an international advisory group comprising renowned names to facilitate global linkages.
Several countries like Japan, Singapore and South Korea, have shown keen interest in the project. The Educational Consultants of India Limited (EDCIL), the consulting agency of the Human Resource Development Department, Government of India, has prepared the detailed project report (DPR) for the university.
The estimated cost of the proposed university, which will house seven to eight schools, has been pegged at Rs 1000 crore. Similar exercise will also be done for other interested international agencies and foreign countries for financial assistance.
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