India's Marine Product Exports $2.48 Billion in 2010-11

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                                                    Exports of marine products in 2010-11 touched $2.48billion ,registering a growth of 1.96 % in quantity , 27.64 % in rupee value and 33.17 % in dollar realization compared to the previous year, according to Marine Products Export Development Authority (MPEDA) on August 1,2011. This is the first time that the exports of marine products crossed $2 billion mark. During the year, a total quantity of 13,091 tonnes, valued at Rs.12,901.47 corer ($2, billion ) were shipped as against 67,436 tonnes valued at Rs. 10,04.53 crore (&$2.1 billion) in 2009-10. According to MPEDA, frozen shrimp continued to be the major export item from Indian accounting 44.26 % of  the total dollar earnings. European Union  continued to be the largest market with a share of 26.66 % in dollar realization.

Commercial Banks do not reqire RBI permission For Openings Branches in Cities

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                                                   As per reserve bank of India's (RBI)Branch Authorization Policy, general permission has been granted to domestic Scheduled Commercial Banks (Other than RRBs) to open branches in Tier 3 to Tier 6 centres (With population up to 49,999). Opening of by these banks in Tier 1 and Tier 2 centres (centres with population of 50,000 and above) requires prior approval of RBI. Banks apply for authorizations for opening of branches in Tier 1 and Tier 2 centres in their Annul Branch Expansion Plan. This information was Given by the Minister of State for Finance Shri Namo Marain Meena in a written reply to a question raised in Rajya Sabha on September 7,2011.

Health Insurance Policies Become Portable in India

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                                                           Health insurance consumers will be able to change their service providers from October 3, 2011. Those who seek to switch to a new general insurer should apply at least 45 days prior to the expiry of the policy. The costumers would also be able to carry forward credit for per-exiting diseases ( or bonus) in migration . Both individual and family-floater policies (in which insurance is extended to select family members) are eligible for portability. Portability is permitted only between non-life insurers. At present, present there are 24 general insurance companies in the country.

Forex retention limit for exporters enhanced

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                                                    The Reserve Bank Of India on October 14,2011 enhanced the limit for retaining foreign currency abroad to  $3,000 per transaction for exporters against the existing $500. It has now been decided   to increase the value per transaction from $ 500 to $3,000 for export-related remittances received through Online Payment Gateway Service Providers (OPGSPS), the RBI said in a statement. The RBI also announced 2 % interest subsidy on rupee export credit to the labor-oriented and small scale sectors.