Drugs Controller General of India had issued show cause notices to over 20 e-pharmacies. These e-pharmacies have sought time from the government to respond to the notices.
Any import of planes weighing more than 15,000 kilograms (33,100 pounds) unladen as well as turbo jets are also “non-essential” and shouldn’t be brought in from abroad as much as is done now, the letter dated Dec. 6 stated.
The restrictions were imposed three days ago.
Gems and jewellery exporters, who contribute to about 15 percent of the country's total shipments, are demanding for the relaxations saying the curbs are impacting the exports.
Insurance regulator Irda‘s continuing campaign to curb misselling of insurance products has caught web aggregators in its cross-hairs. The regulator has proposed stricter rules that these websites which compile and provide information on policies of various insurance companies must adhere to, reports CNBC-TV18‘s Manasvi Ghelani.
CNBC-TV18's Latha Venkatesh says the RBI is not likely to ease its measures to strenthen the rupee and hence, if one has forward dollars, it should be sold now.
India, the world's top gold buyer, has taken a series of measures this year to curb demand for bullion - its second-biggest import after oil - as it looks to reduce its record trade deficit.
In an interview to CNBC-TV18, Taimur Baig, economist, Deutsche Bank says that investments may be a casualty of too many policy moves. He adds that the market is in the dark as to what the monetary authorities really want to do as there is no communication on the same.
At 9:08 a.m., the partially convertible rupee was at 59.53/54 per dollar, after rising to as much as 59.40 earlier, but still stronger than its close of 59.76/77 on Tuesday.
Sajjid Chinoy feels with these steps one can rule out the possibility of a cash reserve ratio (CRR) cut on July 30 monetary policy.
The RBI's move to curb rupee volatility has a bad connotation for growth and bond yields, though it will probably manage to give some more support to the rupee in the near-term, says CNBC-TV18's Udayan Mukherjee.
CNBC-TV18‘s Pragya Bhardwaj reports that the RBI's reinstating the gold-on-lease model has made things easier for the company.
The RBI moved to tighten gold imports again on Monday, making them dependent on export volumes with an eye to reducing a record current account deficit, but offered relief to domestic sellers by lifting restrictions on credit deals.
The RBI said importers need to retain 20 percent of the gold they import in customs-bonded warehouses, and will only be able to buy in more after exports equivalent to 75 percent of the retained amount have been shipped.
Britain is likely to impose new restrictions before granting visas to students from India and other non-EU countries as part of the Prime Minister David Cameron government''s promise to reduce immigration and curb visa abuse.