Business Briefs 29-03-2014

New CII head Prepaid cards Bharti shares Service tax

By The Telegraph Online
  • Published 29.03.14

New CII head

New Delhi, March 28: Ajay Shriram, chairman and senior managing director of DCM Shriram Ltd, has been appointed president of the Confederation of Indian Industry. He will succeed Infosys executive vice-chairman Kris Gopalakrishnan. Sumit Mazumder, vice-chairman and managing director of TIL Ltd, has been appointed president-designate of the CII for 2014-15.

Prepaid cards

Mumbai, March 28: The RBI today tightened and streamlined the norms regarding the issue of prepaid payment instruments and capped their maximum value at Rs 50,000. “The developments in the prepaid payment instrument segment have necessitated a comprehensive review of guidelines issued so far,” the RBI said.

Bharti shares

New Delhi, March 28: Bharti Airtel today said one of its promoter group entity Bharti Telecom had bought 57.14 lakh shares of the company for Rs 171.92 crore through various market transactions. Bharti Telecom’s stake in the company has risen to 43.72 per cent.

Service tax

Calcutta, March 28: The service tax commissionerate, Calcutta, will remain open on March 29 and 30 till 8pm to facilitate assessees in clearing their service tax by March 31.