Membership of Credit Information Companies (CICs)
Posted Date : 15-Jan-2015 , 02:28:36 pm | Posted By: Rupa Kaushik
RBI/2014-2015/405DBR.No.CID.BC.60/20.16.056/2014-15
January 15, 2015
All Scheduled Commercial Banks (including RRBs & LABs),All India Notified Financial Institutions, andAll Credit Information Companies
Dear Sir / Madam
Membership of Credit Information Companies (CICs)
The Report of the Committee to Recommend Data Format for Furnishing of Credit Information to Credit Information Companies (Chairman: Shri Aditya Puri) constituted by the Reserve Bank of India (RBI) was placed on RBI&rsquo...
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RBI |
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Standing Liquidity Facilities for Banks and Primary Dealers
Posted Date : 15-Jan-2015 , 12:19:00 pm | Posted By: Rupa Kaushik
RBI/2014-15/402REF.No.MPD.BC. 375/07.01.279/2014-15
Pausha 25, 1936 (Sake)January 15, 2015
To
All Scheduled Banks [excluding Regional Rural Banks(RRBs) ]and Primary Dealers
Dear Sir/Madam,
Standing Liquidity Facilities forBanks and Primary Dealers
Please refer to theStatement by Dr. Raghuram G Rajan, Governor on Monetary Policy dated January 15, 2015, in terms of which the repo rate under the Liquidity Adjustment Facility (LAF) has been reduced by 25 basis points from 8.0 per cent to 7.75 ...
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RBI |
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Risk Management and Inter Bank Dealings: Hedging under Past Performance Route- Liberalisation of Documentation Requirements in the OTC market
Posted Date : 14-Jan-2015 , 06:34:47 pm | Posted By: CASANSAAR
RBI/2014-15/401A.P. (DIR Series) Circular No.58
January 14, 2015
ToAll Category - I Authorised Dealer Banks
Madam / Sir,
Risk Management and Inter Bank Dealings: Hedging under Past Performance Route- Liberalisation of Documentation Requirements in the OTC market
Attention of Authorised Dealers Category-I (AD Category-I) banks is invited to the Foreign Exchange Management (Foreign Exchange Derivative Contracts) Regulations, 2000 dated May 3, 2000 (Notification No. FEMA/25/RB-2000 dated May 3...
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RBI |
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Clarification regarding applicability of section 143(1D) of the Income-tax Act, 1961
Posted Date : 14-Jan-2015 , 08:46:24 am | Posted By: CASANSAAR
Subject: – Clarification regarding applicability of section 143(1D) of the Income-tax Act, 1961 -reg.
Sub-section (ID) of section 143 of the Income-tax Act, 1961 (‘Act’) provides that where a notice has been issued to a taxpayer under sub-section (2) of section 143 of the Act, it shall not be necessary to process the return in such a case.
2. Some doubts have been expressed, in view of the words “shall not be necessary” used in the said sub-section, as to whet...
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Income Tax |
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Merging of Commercial invoice and packing list
Posted Date : 12-Jan-2015 , 09:00:57 pm | Posted By: CASANSAAR
Circular No. 01/15-Customs
F. No. 450/25/2013-Cus IV (Pt.)
Government of India
Ministry of Finance
Department of Revenue
Central Board of Excise and Customs
New Delhi, dated 12/01/2015
To
All Chief Commissioners of Customs / Customs (Preventive)
All Chief Commissioners of Customs and Central Excise
All Commissioners of Customs / Customs (Preventive)
All Commissioners of Customs and Central Excise
Sir/ Madam,
Subject: Merging of Commercial invoice and packing list – reg
Simpl...
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Custom |
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Notification authorizing officers for filing complaint under section 159 read with section 155 of the Companies Act, 2013
Posted Date : 12-Jan-2015 , 08:55:01 pm | Posted By: CASANSAAR
Notification dated 09.01.2015: Notification authorizing officers for filing complaint under section 159 read with section 155 of the Companies Act, 2013...
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Corporate Laws |
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Inter-Governmental Agreement (IGA) with United States of America (US) under Foreign Accounts Tax Compliance Act (FATCA) - Registration
Posted Date : 09-Jan-2015 , 09:04:40 pm | Posted By: CASANSAAR
RBI/2014-15/397DNBR.CC.PD.No.010/03.10.01/2014-15
January 09, 2015
To
All Non Banking Financial Companies
Dear Sirs,
Inter-Governmental Agreement (IGA) with United States of America (US) under Foreign Accounts Tax Compliance Act (FATCA) - Registration
Please refer tocirculars DNBS (PD).CC.No 401/03.10.42/2014-15 dated July 25, 2014andDBR.AML.No.9644/14.07.018/2014-15 dated December 30, 2014on the captioned subject.
2. Government of India has now advised that to avoid withholding tax, Fore...
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RBI |
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Implementation of Basel III Capital Regulations in India – Revised Framework for Leverage Ratio
Posted Date : 09-Jan-2015 , 08:23:54 am | Posted By: CASANSAAR
RBI/2014-15/396DBR.No.BP.BC.58/21.06.201/2014-15
January 8, 2015
The Chairman and Managing Director/Chief Executive OfficerAll Scheduled Commercial Banks(Excluding Regional Rural Banks and Local Area Banks)
Madam / Sir,
Implementation of Basel III Capital Regulations in India – Revised Framework for Leverage Ratio
Please refer to paragraph 20 of the Fourth Bi-Monthly Monetary Policy Statement, 2014-15 announced on September 30, 2014. It was indicated therein that revised guidelines on...
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RBI |
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Gold Loan – Bullet Repayment
Posted Date : 08-Jan-2015 , 05:32:47 pm | Posted By: Rupa Kaushik
RBI/2014-15/395DCBR.CO.BPD (RCB).Cir.No.11/13.05.001/2014-15
January 08, 2015
The Chief Executive OfficerAll State / Central Cooperative Banks (StCBs/CCBs)
Madam / Dear Sir,
Gold Loan – Bullet Repayment
Please refer tocircular RPCD.CO.RF.BC.No.60/07.37.02/2009-10 dated March 5, 2010wherein StCBs/CCBs were permitted to grant gold loans up to Rs. 1.00 lakh with bullet repayment option.
2. On a review, it has been decided to increase the quantum of loan that could be granted und...
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RBI |
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DVAT - Last date for filing form 9 has been extended to 05-02-2015
Posted Date : 08-Jan-2015 , 02:39:21 pm | Posted By: CASANSAAR
DVAT - Last date for filing form 9 has been extended to 05-02-2015....
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VAT |
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CBDT to crack whip on officials disclosing taxpayer's info to media; asks them to respect taxpayer's privacy
Posted Date : 07-Jan-2015 , 05:48:43 pm | Posted By: CASANSAAR
SECTION 138 OF THE INCOME-TAX ACT, 1961 - DISCLOSURE OF INFORMATION RESPECTING ASSESSEES TO SPECIFIED OFFICER, AUTHORITY OR BODY PERFORMING FUNCTIONS UNDER ANY OTHER LAW - DISCLOSURE OF INFORMATION ABOUT TAXPAYERS TO MEDIA
OFFICE MEMORANDUM [F.NO.DIR.(HQRS.)/CH.(DT)/29/2014],DATED 1-1-2015
Instances have come to the notice of the Board where information pertaining to individual taxpayers has been published in the print media with specific reference to departmental sources. In some cases, e...
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Income Tax |
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CBDT plans to celebrate 'Good Governance day' on every Wednesday by holding it as 'public meeting day'
Posted Date : 07-Jan-2015 , 05:47:42 pm | Posted By: CASANSAAR
GOOD GOVERNANCE DAY - INSTRUCTIONS ON OBSERVANCE OF WEDNESDAYS AS A PUBLIC HEARING DAY FOR HEARING PUBLIC GRIEVANCES
OFFICE MEMORANDUM [F.NO.DIR.(HQRS.)/CH.(DT)/29/2013],DATED 6-1-2015
As a part of Prime Minister's 'Good Governance Day' promise to provide an "open and accountable administration" it has been decided that all field offices of the Income Tax Department will observe 'Public Meeting Day' during 10.00 AM to 1.00 PM every Wednesday to listen to and try to resolve the grievances o...
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Income Tax |
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CBDT asks officials to seek exchange of info. by 15-2-2015 in assessment cases getting time-barred on 31-03-2015
Posted Date : 07-Jan-2015 , 05:46:06 pm | Posted By: CASANSAAR
SECTION 143 OF THE INCOME-TAX ACT, 1961 - ASSESSMENT - GENERAL - REQUEST FOR EXCHANGE OF INFORMATION FROM FIELD OFFICES OF TIME BARRING ASSESSMENT CASES
LETTER (F.NO.500/56/2014-FT&TR-IV],DATED 6-1-2015
The undersigned is directed to state that large number of requests for Exchange of Information (EOI) in time barring assessments/matters are received in FT&TR Division just before the time barring date. It becomes difficult to process and forward such requests after due scrutiny to ...
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Income Tax |
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Online IEC applications: Postponement of the date of operationalisation of Public Notice No. 76 dated the 27th of November, 2014
Posted Date : 07-Jan-2015 , 08:26:57 am | Posted By: CASANSAAR
To be published in the Gazette of India Extraordinary Part-I, Section (I)
Government of India
Ministry of Commerce & Industry
Department of Commerce
Udyog Bhawan, New Delhi
Public Notice 80 / (RE-2013)/2009-2014
Dated the 06 January, 2015
Subject: Online IEC applications: Postponement of the date of operationalisation of Public Notice No. 76 dated the 27th of November, 2014
In exercise of powers conferred underparagraph 2.4of theForeign Trade Policy (2009-2014), the Director Gene...
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Corporate Laws |
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CBDT issues draft standard operating procedures for administering TDS
Posted Date : 07-Jan-2015 , 08:25:24 am | Posted By: CASANSAAR
Standard operating procedures (SOP) for administering TDS incorporating the re-engineered processes developed by the CPC-TDS.
1. TDS is a non-obtrusive but powerful instrument to prevent tax evasion as well as to expand thetax net. TDS also minimizes tax avoidance by the taxpayer (income earners), as the payee’stransaction(s) are reported to the Department by the third person. The contribution of TDS to theoverall gross direct taxes collections during F.Y.2013-14 was Rs.2,71,069 crore. Th...
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Income Tax |
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Non-resident guarantee for non-fund based facilities entered between two resident entities
Posted Date : 06-Jan-2015 , 05:57:22 pm | Posted By: Rupa Kaushik
RBI/2014-15/387A.P. (DIR Series) Circular No. 56
January 6, 2015
To
All Authorised Dealer Category - I Banks
Madam /Sir
Non-resident guarantee for non-fund based facilities entered between two resident entities
Attention of Authorised Dealer Category - I (AD Category - I) banks is invited toA. P. (DIR Series) Circular No. 20 dated August 29, 2012in terms of which non-resident guarantee for non-funded facilities such as Letters of Credit/guarantees/Letters of Undertaking (LoU) /Letter of Co...
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RBI |
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Regarding mandatory pre-deposit of duty or penalty for filing appeal
Posted Date : 06-Jan-2015 , 04:14:02 pm | Posted By: Ravich
F. No. 390/Budget/1/2012-JC
Government of India
Ministry of Finance
Department of Revenue
(Central Board of Excise & Customs)
Circular No. 993/17/2014-CX
New Delhi, dated the 5th January, 2015
To,
1. All Principal Chief Commissioners, Central Excise & Service Tax/Customs
2. All Chief Commissioners, Central Excise and Service Tax/ Customs.
3. Chief Commissioner (AR), CESTAT, New Delhi.
4. All Principal Commissioners of Central Excise & Service Tax/Customs.
5. All Commissio...
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Category :
Custom |
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CBDT specifies class of assessees for Dispute Resolution Panels at Delhi, Mumbai and Bengaluru
Posted Date : 05-Jan-2015 , 08:21:50 am | Posted By: CASANSAAR
IT/ILT : Section 144C of the Income-tax Act, 1961 - Dispute Resolution Panel (DRP) - Reference to – Reconstitution of DRPs at Delhi, Mumbai & Bengaluru –CBDT specifies class of assessees for Dispute Resolution Panels at Delhi, Mumbai and Bengaluru...
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Income Tax |
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Guidelines for Regional Authorities (RAs) to process Online IEC Applications
Posted Date : 02-Jan-2015 , 08:38:08 pm | Posted By: CASANSAAR
Government of India
Ministry of Commerce & Industry
Department of Commerce
Directorate General of Foreign Trade
Udyog Bhavan, New Delhi-110011
Policy Circular No.15 (RE-2013)/2009-2014
Dated the 31st December, 2014
To
All Regional Authorities
Subject: Guidelines for Regional Authorities (RAs) to process Online IEC Applications
The following guidelines are laid down as instructions for the Regional Authorities to process Online IEC Applications:
Part A: General Information:
1. Fro...
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Corporate Laws |
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Roadmap-Provision of Banking Services in Villages with Population below 2000
Posted Date : 02-Jan-2015 , 03:32:31 pm | Posted By: Rupa Kaushik
RBI/2014-15/382FIDD.CO.LBS.BC.No. 47/02.01.001/2014-15
January 2, 2015
CMDs of all SLBC Convenor Banks and Lead Banks
Dear Sir/Madam,
Roadmap-Provision of Banking Services in Villages with Population below 2000
You are aware that the Pradhan Mantri Jan Dhan Yojana (PMJDY) was launched by the Hon’ble Prime Minister on 28th August, 2014 and Phase I of PMJDY is being implemented through banks in a time bound manner for completion by August 14, 2015.
2. In this connection, attention is i...
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RBI |
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Brand/Name of products offered by authorised entities – Dissemination of Information
Posted Date : 02-Jan-2015 , 03:31:00 pm | Posted By: Rupa Kaushik
RBI/2014-15/381DPSS.CO.AD.No.1204/02.27.005/2014-15
January 2, 2015
All the entities authorised under PSS Act, 2007
Dear Madam/ Sir,
Brand/Name of products offered by authorised entities – Dissemination of Information
As you are aware, under the Payment and Settlement Act, 2007 (PSS Act), an entity operating a payment system within the country has to obtain authorisation from Reserve Bank of India (RBI). The Certificate of Authorisation (COA) issued by the Bank to an entity on receivi...
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RBI |
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Anti-Money Laundering (AML) / Combating of Financing of Terrorism (CFT) - Standards
Posted Date : 02-Jan-2015 , 03:29:06 pm | Posted By: Rupa Kaushik
RBI/2014-15/380DPSS. CO. AD. No.1195/02.27.005/2014-15
January 2, 2015
To
All Payment System Providers, System Participantsand Prepaid Payment Instrument Issuers
Dear Sir /Madam,
Anti-Money Laundering (AML) / Combating of Financing of Terrorism (CFT) - Standards
Please refer to our circulars/instructions issued from time to time on the captioned subject. In this regard, we enclose a copy of thecircular DBR.AML. No.6704/14.01.001/2014-15 dated November 5, 2014issued by Department of Banking...
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RBI |
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The Companies (Cost Records and Audit) Amendment Rules,2014 - MCA
Posted Date : 02-Jan-2015 , 02:09:47 pm | Posted By: CASANSAAR
MCA has notified the much awaited amendments to Cost Rules.
Cost Records applicable if turnover exceeds Rs.35 cr. Cost Audit applicability if turnover exceeds Rs.50 Cr (Regulated Industry), Rs.100 Cr. (Others).
Refer Detailed Notification at:
http://www.mca.gov.in/Ministry/pdf/Amendment_Rules_01012014.pdf...
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Category :
Corporate Laws |
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Security for External Commercial Borrowings
Posted Date : 01-Jan-2015 , 08:04:59 pm | Posted By: CASANSAAR
RBI/2014-15/377A.P. (DIR Series) Circular No. 55
January 01, 2015
To
All Authorised Dealer Category-I Banks
Madam/ Sir
Security for External Commercial Borrowings
Attention of Authorised Dealers Category-I (AD Category-I) banks is invited to Paragraphs 1 (A)(vii) and 1 (B) (vi) ofAnnex to A P (DIR Series) Circular No. 5 dated August 1, 2005andA P (DIR Series) Circular No. 1 dated July 11, 2008relating to creation of charge over securities for External Commercial Borrowings (ECB).
2. Unde...
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RBI |
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Implementation of Cheque Truncation System - Dispensation of the requirement of forwarding of government cheques in physical form to government
Posted Date : 01-Jan-2015 , 04:08:57 pm | Posted By: Rupa Kaushik
RBI/2014-15/375DGBA.GAD.No.H - 2887/42.01.035/2014 -15
January 1, 2015
The Chairman/Chief Executive OfficerAll agency banks
Dear Sir
Implementation of Cheque Truncation System - Dispensation of the requirement of forwarding of government cheques in physical form to government
Please refer to ourcircular DGBA.GAD.No.H - 1463/42.01.035/2014-15 dated September 30, 2014wherein it was stated that the discontinuation of P2F for government cheques was to be implemented with effect from Jan...
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RBI |
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Regarding 24x7 Customs clearance
Posted Date : 01-Jan-2015 , 08:12:00 am | Posted By: CASANSAAR
Circular No. 19/ 2014-Customs
F. No. 450/25/2009-Cus IV
Government of India
Ministry of Finance
Department of Revenue
(Central Board of Excise and Customs)
*****
Room No. 229-A, North Block
New Delhi, dated 31.12.2014
To,
All Chief Commissioners of Customs/Customs (Preventive)
All Chief Commissioners of Customs and Central Excise
All Commissioners of Customs/Customs (Preventive)
All Commissioners of Customs and Central Excise
Sir/ Madam,
Subject:24x7 Customs clearance &nda...
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Category :
Custom |
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Revised format of reporting - Representative Offices of Foreign Banks in India
Posted Date : 01-Jan-2015 , 08:10:19 am | Posted By: CASANSAAR
RBI/2014-15/374DBR.IBD.No.9745/23.13.001/2014-15
December 31, 2014
The Chief RepresentativeAll Representative Offices of Foreign Banks in India
Madam/Dear Sir,
Revised format of reporting - Representative Offices of Foreign Banks in India
Representative Offices of foreign banks in India are currently required to submit information/documents on an annual basis to Reserve Bank of India as under:
a certificate from the auditor to the effect that during the year no income was earned by/ ac...
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RBI |
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Withdrawal of all old series of Banknotes issued prior to 2005
Posted Date : 01-Jan-2015 , 08:09:29 am | Posted By: CASANSAAR
RBI/2014-15/373DCM(Plg) No.G-8 /3004/10.27.00/2014-15
December 31, 2014
The Chairman / Managing Director/ Chief Executive OfficerAll Scheduled Commercial BanksPrimary(Urban) Co-operative Banks/RRBs
Dear Sir /Madam
Withdrawal of all old series of Banknotes issued prior to 2005
Please refer to ourcircular DCM (Plg) No. G-19/3880/10.27.00/2013-14 dated March 03, 2014and thePress Release dated March 03, 2014on the captioned subject.
2. On a review of the matter, it has been decided to extend t...
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RBI |
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Inter-Governmental Agreement (IGA) with United States of America (US) under Foreign Accounts Tax Compliance Act (FATCA)- Registration
Posted Date : 31-Dec-2014 , 08:26:27 am | Posted By: CASANSAAR
RBI/2014-15/372DBR. AML.No. 9644/14.07.018/2014-15
December 30, 2014
The Chairpersons / CEOs of all Scheduled Commercial BanksRRBs/Local Area Banks / All India Financial Institutions
Dear Madam/Sir,
Inter-Governmental Agreement (IGA) with United States of America (US)under Foreign Accounts Tax Compliance Act (FATCA)- Registration
Please refer to ourcircular DBOD. AML. No. 20472 /14.07.018/2013-14 dated June 27, 2014on the captioned subject.
2. Government of India, has now advised that to a...
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Category :
RBI |
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Overseas Direct Investments by Indian Party – Rationalization / Liberalization
Posted Date : 29-Dec-2014 , 09:42:57 pm | Posted By: CASANSAAR
RBI/2014-15/371A.P. (DIR Series) Circular No.54
December 29, 2014
To
All Category - I Authorised Dealer Banks
Madam / Sir,
Overseas Direct Investments by Indian Party – Rationalization / Liberalization
Attention of the Authorised Dealer (AD - Category I) bank is invited to Regulation 18 and 18A ofNotification No. FEMA.120/RB-2004 dated July 7, 2004[Foreign Exchange Management (Transfer or Issue of any Foreign Security) (Amendment) Regulations, 2004] (the Notification), as amended fro...
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Category :
FEMA |
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