Browsing Category »Law and Economics«

Special Economic Zone: The History & The Future

April 13, 2011

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A Special Economic Zone (SEZ) is a geographical region that has economic laws more liberal than a country’s typical economic laws. It is a trade capacity development tool, with a goal to promote rapid economic growth by using tax and business incentives to attract foreign investment and technology. By offering privileged terms, Special Economic Zones […]

The New Consolidated Foreign Direct Investment Policy 2011: Whether Will Prove a Game Changer in Boosting Investor Confidence?

April 8, 2011

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Every developing economy today is so called “FDI hungry”. Beyond all doubts FDI bears a direct relation with sound economy. Considering case of India specifically India in its march towards being a developed one, is in dire need of FDI to establish itself on economic footing. Like every other issue FDI too is governed by […]

The Law of the Special Zones of India

April 5, 2011

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Certain legal provisions extended to the Special Economic Zones are exclusive and unique. For instance, Section 53 of the Special Economic Zones Act, 2005 deems it to be a territory outside that of India. It is treated as a foreign tariff zone as opposed to a domestic tariff zone, which comprise of all the areas […]

Banking on a Banking Ombudsman?

April 2, 2011

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Where there is a dispute with a bank, earlier the only recourse was to approach the Consumer Forum. But with the Banking Ombudsman Scheme, 2006 [Hereinafter refered to as the Scheme] being brought into effect by the RBI, every Bank Customer has a choice either to approach the Consumer Forum or the Banking Ombudsman [Hereinafter […]

Chit Funds – Innovating the lower strata of society..!!

March 15, 2011

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Chit Funds – Innovating the lower strata of society..!!

A chit fund is a type of savings scheme practised in India, besides other forms of savings scheme offered by various public and private sector banks, post offices, insurance corporations etc. Chit Funds are indigenous financial institutions in India that cater to the financial needs of the low-income households, which have been excluded from the […]

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