Extending the Single Window Interface for Facilitation of Trade (SWIFT) to Exports
Posted Date : 05-Jan-2017 , 08:33:00 am | Posted By: CASANSAAR
Kind reference is invited to Board's Circulars No. 03/2016 dated 03.02.2016 and No. 09/2015 dated 31.03.2015 regarding the Indian Customs Single Window(SWIFT).This project envisages that the importers and exporters would electronically lodge their Customs clearance documents at a single point only with the Customs. The required permission, if any, from other regulatory agencies would be obtained online without the importer/exporter having to separately approach these agencies. The Single Win...
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Category :
Custom |
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Exchange facility to foreign citizens - RBI
Posted Date : 04-Jan-2017 , 08:30:17 am | Posted By: CASANSAAR
RBI/2016-17/208
A.P. (DIR Series) Circular No. 24
January 03, 2017
To
All Authorised Persons
Madam / Sir,
Exchange facility to foreign citizens
Attention of Authorized Persons is invited to theA.P. (DIR Series) Circular No. 20 dated November 25, 2016permitting foreign citizens to exchange foreign exchange for Indian currency notes up to a limit of ₹ 5000/- per week till December 15, 2016 and extended up to December 31, 2016 videA.P. (DIR Series) Circular No. 22 dated Decem...
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FEMA |
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Allocation of cash for rural areas - RBI
Posted Date : 04-Jan-2017 , 08:29:18 am | Posted By: CASANSAAR
RBI/2016-17/207
DCM (Plg) No.2200/10.27.00/2016-17
January 03, 2017
The Chairman / Managing Director/ Chief Executive Officer,
(All banks with currency chests)
Dear Sir / Madam
Allocation of cash for rural areas
Please refer to ourcirculars DCM (Plg) No.1345/10.27.00/2016-17 dated November 22, 2016andDCM (Plg) No.1508/10.27.00/2016-17 dated December 02, 2016on making cash available for rural areas.
2. On observing that bank notes, being supplied to rural areas, at present, ar...
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RBI |
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Facility for exchange of Specified Bank Notes (SBNs) during Grace Period
Posted Date : 02-Jan-2017 , 08:19:53 am | Posted By: CASANSAAR
RBI/2016-17/205
DCM (Plg) No.2170 /10.27.00/2016-17
December 31, 2016
The Chairman / Managing Director/ Chief Executive Officer,
Public Sector Banks/ Private Sector Banks / Foreign Banks/
Regional Rural Banks / Urban Cooperative Banks/ State Cooperative Banks
District Central Cooperative Banks
Dear Sir,
Facility for exchange of Specified Bank Notes (SBNs) during Grace Period – Verification of KYC and Account details
Please refer to theGoI Ordinance No. 10 of 2016 dated D...
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RBI |
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Cash withdrawal from ATMs – Enhancement of daily limits
Posted Date : 31-Dec-2016 , 08:14:51 am | Posted By: CASANSAAR
RBI/2016-17/204
DCM (Plg) No. 2142/10.27.00/2016-17
December 30, 2016
The Chairman / Managing Director/ Chief Executive Officer,
Public Sector Banks/ Private Sector Banks / Foreign Banks/
Regional Rural Banks / Urban Cooperative Banks/ State Cooperative Banks
District central Cooperative Banks
Dear Sir,
Cash withdrawal from ATMs – Enhancement of daily limits
Please refer t...
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RBI |
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Special measures to incentivise Electronic Payments – Extension of time
Posted Date : 31-Dec-2016 , 08:13:59 am | Posted By: CASANSAAR
RBI/2016-17/203
DPSS.CO.PD.No.1669/02.14.006/2016-2017
December 30, 2016
All Prepaid Payment Instrument Issuers
System Providers, System Participants
and all other Prospective Prepaid Payment Instrument Issuers
Dear Madam/ Sir,
Special measures to incentivise Electronic Payments – Extension of time
A reference is invited tocircular DPSS.CO.PD.No.1288/02.14.006/2016-17 dated Novem...
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RBI |
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White Label ATM Operators (WLAOs) - Sourcing of cash from retail outlets
Posted Date : 31-Dec-2016 , 08:13:08 am | Posted By: CASANSAAR
RBI/2016-17/202
DPSS.CO.PD. No.1621/02.10.002/2016-17
December 30, 2016
The Chairman and Managing Director / Chief Executive Officers
All Scheduled Commercial Banks including RRBs /
Urban Co-operative Banks / State Co-operative Banks /
District Central Co-operative Banks /
Authorised ATM Network Operators /Card Payment Network Operators/
White Label ATM Operators
Dear Madam/ Sir,
White Label ATM Operators (WLAOs) - Sourcing of cash from retail outlets
Following the withdrawa...
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RBI |
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Closure of the scheme of exchange of Specified Bank Notes (SBNs) at banks on December 30th 2016- Accounting
Posted Date : 31-Dec-2016 , 08:12:18 am | Posted By: CASANSAAR
RBI/2016-17/201
DCM (Plg) No.2103/10.27.00/2016-17
December 30, 2016
The Chairman / Managing Director / Chief Executive Officer
Public Sector Banks / Private Sector Banks / Foreign Banks /
Regional Rural Banks / Urban Co-operative Banks /
State Co-operative Banks / District Central Co-op Banks
Dear Sir,
Closure of the scheme of exchange of Specified Bank Notes (SBNs) at banks on December 30th 2016- Accounting
Please refer to Para 3 (C) of ourCircular DCM (Plg) No.1226/10.27.00...
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RBI |
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Last date of Dispute Resolution Extended to 31st January,2017
Posted Date : 30-Dec-2016 , 06:14:22 pm | Posted By: CASANSAAR
The Central board of Direct Taxes (CBDT) vide Notification No 124/2016 dated 29th December, 2016 extends the deadline for Direct Tax Dispute Resolution Scheme by one month i.e. from31st December, 2016 to 31st January, 2017....
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Category :
Income Tax |
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Sanction of Additional Working Capital Limits to Micro and Small Enterprises (MSEs)
Posted Date : 30-Dec-2016 , 08:00:42 am | Posted By: CASANSAAR
RBI/2016-17/200
FIDD.MSME & NFS.BC.No.20/06.02.31/2016-17
December 29, 2016
All Scheduled Commercial Banks
(Excluding Regional Rural Banks)
Dear Sir / Madam,
Sanction of Additional Working Capital Limits to Micro and Small Enterprises (MSEs)
Please refer to ourcircular FIDD.MSME & NFS.BC.No.60/06.02.31/2015-16 dated August 27, 2015on ‘Streamlining flow of credit to Micro and Small Enterprises (MSEs) for facilitating timely and adequate credit flow during their &lsq...
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RBI |
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Introduction of Interest Rate Options in India
Posted Date : 30-Dec-2016 , 07:59:55 am | Posted By: CASANSAAR
RBI/2016-17/199
FMRD.DIRD.12/14.01.011/2016-17
December 29, 2016
To
All eligible market participants
Dear Sir/Madam
Introduction of Interest Rate Options in India
As announced in thefourth bi-monthly Monetary Policy Statement 2016-17, it has been decided to introduce Interest Rate Options in India.
2. The Reserve Bank of India has accordingly issued aNotification No. FMRD.DIRD. 11/...
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RBI |
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Prudential Norms on Income Recognition, Asset Classification and Provisioning pertaining to Advances
Posted Date : 29-Dec-2016 , 08:31:43 am | Posted By: CASANSAAR
RBI/2016-17/198
DBR.No.BP.BC.49/21.04.048/2016-17
December 28, 2016
All Regulated Entities
Madam / Dear Sir,
Prudential Norms on Income Recognition, Asset Classification and Provisioning pertaining to Advances
Please refer tocircular DBR.No.BP.BC.37/21.04.048/2016-17 dated November 21, 2016.
2. On a review, it has been decided to:
(i) Provide 30 days, in addition to the 60 days provided vide the abovementioned circular, in the following categories of loans:
(a) Running w...
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Category :
RBI |
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Companies (removal of names of companies from the Register of Companies) Rules 2016
Posted Date : 29-Dec-2016 , 08:30:22 am | Posted By: CASANSAAR
Companies (removal of names of companies from the Register of Companies) Rules 2016 Dated 26.12.2016.
CLICK HERE...
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Category :
Companies Act |
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Commencment of sections 248 to 252 of Companies Act, 2013
Posted Date : 29-Dec-2016 , 08:26:43 am | Posted By: CASANSAAR
Commencment of sections 248 to 252 of Companies Act, 2013 effective from 26-12-2016....
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Category :
Companies Act |
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Govt. hikes threshold limit of salary from Rs 15000 to Rs 21000 for ESI applicability
Posted Date : 28-Dec-2016 , 08:23:44 am | Posted By: CASANSAAR
Whereas certain draft rules further to amend the Employees’ State Insurance (Central) Rules, 1950 were published in the Gazette of India, Extraordinary, Part-II, section 3, sub-section (i) vide number G.S.R. 957(E), dated the 6th October, 2016, as required by sub-section (1) of section 95 of the Employees’ State Insurance Act, 1948 (34 of 1948), inviting objections and suggestions from all persons likely to be affected thereby before the expiry of a period of thirty days from the dat...
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Category :
Corporate Laws |
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CBDT releases explanatory notes on provisions of PMGKY
Posted Date : 28-Dec-2016 , 07:56:01 am | Posted By: CASANSAAR
The Taxation Laws (Second Amendment) Act, 2016 has been enacted by Parliament on 15.12.2016. The said Act has inter alia amended the provisions of Finance Act, 2016 and inserted a new Chapter on, ‘The Taxation and Investment Regime for Pradhan Mantri Garib Kalyan Yojana, 2016 (hereinafter ‘the Scheme’) in the Finance Act, 2016....
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CBDT |
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Purchase and sale of securities other than shares or convertible debentures of an Indian company by a person resident outside India
Posted Date : 28-Dec-2016 , 07:52:42 am | Posted By: CASANSAAR
RBI/2016-17/197
A.P. (DIR Series) Circular No.23
December 27, 2016
To
All Category – I Authorised Dealer Banks
Madam/ Sir,
Purchase and sale of securities other than shares or convertible debentures of an Indian company by a person resident outside India
Attention of Authorized Dealer Category-I (AD Category-I) banks is invited to Schedule 5 to the Foreign Exchange Management (Transfer or Issue of Security by a Person Resident outside India) Regulations, 2000 (the Princi...
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Category :
FEMA |
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Master Circular on Issuance and Operations of Prepaid Payment Instruments
Posted Date : 28-Dec-2016 , 07:51:37 am | Posted By: CASANSAAR
RBI/2016-17/196
DPSS.CO.PD.No.1610/02.14.006/2016-17
December 27, 2016
All Prepaid Payment Instrument Issuers,
System Providers, System Participants and
all other Prospective Prepaid Payment Instrument Issuers
Dear Madam / Sir,
Master Circular on Issuance and Operations of Prepaid Payment Instruments – Amendments to paragraph 7.9
A reference is invited toparagraph 7.9of our Master circular DPSS.PD.CO.PPI.No.01/02.14.006/2016-17 dated July 01, 2016 on Issuance and Operatio...
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Category :
RBI |
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Interest Subvention Scheme for Short Term Crop Loans during the year 2016-17
Posted Date : 27-Dec-2016 , 08:09:12 am | Posted By: CASANSAAR
RBI/2016-17/194
FIDD.No.FSD.BC. 19/05.04.02/2016-17
December 26, 2016
To,
The Chairman / Managing Director
All Public & Private Sector Scheduled Commercial Banks
Dear Sir/Madam
Interest Subvention Scheme for Short Term Crop Loans during the year 2016-17- Grant of grace period of 60 days beyond due date
As you are aware the Government of India (GoI) has been implementing the Interest Subvention Scheme (the Scheme) since 2006-07. In terms of the extant Scheme for the year 201...
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Category :
RBI |
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Procedural Guidelines for Servicing the Sovereign Gold Bonds
Posted Date : 24-Dec-2016 , 08:25:46 am | Posted By: CASANSAAR
RBI/2016-17/193
IDMD No.1569/14.04.050/2016-17
December 23, 2016
All Scheduled Commercial Banks (Excluding RRBs)
Designated Post Offices
Stock Holding Corporation of India Ltd. (SHCIL)
BSE & NSE
Madam/Sir,
Procedural Guidelines for Servicing the Sovereign Gold Bonds
TheSovereign Gold Bond Scheme was launched by Government of India (GOI) on October 30, 2015. The Sovereign Gold Bonds (henceforth referred to as bonds) are issued by GOI in the form of Government of India Stock...
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Category :
RBI |
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Special Deposit Scheme 1975 – Payment of interest for the calendar year 2016
Posted Date : 23-Dec-2016 , 08:33:47 am | Posted By: CASANSAAR
RBI/2016-17/192
DGBA.GAD.No.1478/15.01.001/2016-17
December 22, 2016
The Chairman/Chief Executive Officer
Agency Banks handling Special Deposit Scheme,1975
Dear Sir,
Special Deposit Scheme 1975 –
Payment of interest for the calendar year 2016
Please findenclosedcopies of Government of India Gazette Notifications dated April 20, 2015, June 3, 2016, June 30, 2016 and October 3, 2016 regarding interest rates on Special Deposit Scheme 1975. You may please ensure that interest...
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Category :
RBI |
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Deposit of Specified Bank Notes (SBNs) into bank accounts- Modification
Posted Date : 22-Dec-2016 , 07:51:38 am | Posted By: CASANSAAR
RBI/2016-17/191
DCM (Plg) No. 1911/10.27.00/2016-17
December 21, 2016
The Chairman / Managing Director/ Chief Executive Officer,
Public Sector Banks/ Private Sector Banks / Foreign Banks/ Regional Rural
Banks / Urban Cooperative Banks/ State Cooperative Banks
Dear Sir,
Withdrawal of Legal Tender Character of existing ₹ 500/- and ₹ 1000/- Bank Notes (Specified Bank Notes) - Deposit of Specified Bank Notes (SBNs) into bank accounts- Modification
Please refer to ourcir...
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Category :
RBI |
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CBDT issues clarifications on indirect transfer provisions under Income Tax Act 1961
Posted Date : 22-Dec-2016 , 07:40:30 am | Posted By: CASANSAAR
Under the indirect transfer provisions contained in section 9(1Xi) of the Income Tax Act, 1961 (.Act'), all income accruing or arising, whether directly or indirectly, through or from any business connectiofi in India, or through or from any property in India, or through or irom any asset or source of income in India or through the tfansfer of a capital asset situate in India, shall be deemed to accrue or arise in India. Explanation 5 thereof clarifies that an asset or a capital asset being ...
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Category :
CBDT |
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Deposit of Specified Bank Notes (SBNs) into bank accounts
Posted Date : 20-Dec-2016 , 07:46:58 am | Posted By: CASANSAAR
RBI/2016-17/189
DCM (Plg) No. 1859/10.27.00/2016-17
December 19, 2016
The Chairman / Managing Director/ Chief Executive Officer,
Public Sector Banks/ Private Sector Banks / Foreign Banks/ Regional Rural
Banks / Urban Cooperative Banks/ State Cooperative Banks
Dear Sir,
Withdrawal of Legal Tender Character of existing ₹ 500/- and ₹ 1000/- Bank Notes (Specified Bank Notes) - Deposit of Specified Bank Notes (SBNs) into bank accounts
Please refer toCircular DCM (Plg) No...
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Category :
RBI |
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Govt. to reduce Presumptive Tax Rate to 6% for digital receipts during FY 2016-17
Posted Date : 19-Dec-2016 , 10:11:44 pm | Posted By: CASANSAAR
Government of India
Ministry of Finance
Department of Revenue
Central Board of Direct Taxes
New Delhi, 19th December, 2016.
Press Release
Measures for Promoting Digital Payments & Creation of Less-Cash Economy
Under the existing provisions of section 44AD of the Income-tax Act, 1961 (the Act), in case of certain assesses (i.e. an individual, HUF or a partnership firm other than LLP) carrying on any business (other than transportation, agency, brokerag...
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Category :
Income Tax |
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Compliance to provisions of Master Direction on Know Your Customer (KYC)
Posted Date : 16-Dec-2016 , 08:14:45 am | Posted By: CASANSAAR
RBI/2016-17/183
DBR.AML.BC.48/14.01.01/2016-17
December 15, 2016
All Regulated Entities
Dear Sir/Madam,
Compliance to provisions of Master Direction on Know Your Customer (KYC)
A reference may be made to the following provisions of theMaster Direction on Know Your Customer (KYC):
(i) Section 8(d) and (e), wherein it is mentioned that concurrent/internal audit system of the Regulated Entities (REs) has to verify the compliance with KYC/AML policies and procedures and submit qua...
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Category :
RBI |
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Distribution of Relief/Savings Bonds
Posted Date : 14-Dec-2016 , 08:43:09 am | Posted By: CASANSAAR
RBI/2016-17/182
IDMD.PDRD.No.08/03.64.00/2016-17
December 13, 2016
To
All Standalone Primary Dealers
Dear Sir/Madam,
Distribution of Relief/Savings Bonds
A reference is invited to Para A.1 of theMaster Direction on Relief/Savings Bonds dated July 1, 2016under which agency banks can enrol/register brokers for distribution of Relief/Savings bonds. A reference is also invited to the Para 12 of(Master Direction) Standalone Primary Dealers (Reserve Bank) Directions, 2016giving a li...
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Category :
RBI |
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Preservation of CCTV recordings
Posted Date : 14-Dec-2016 , 08:42:24 am | Posted By: CASANSAAR
RBI/2016-17/181
DCM (Plg) No. 1712/10.27.00/2016-17
December 13, 2016
The Chairman & Managing Director
Chief Executive Officers
All Banks
Dear Sir,
Preservation of CCTV recordings
Please refer to paragraph (5) of ourcircular DCM (FNVD) No.1134/16.01.05/2016-17 dated October 27, 2016wherein it was stated that in order to facilitate identification of people abetting circulation of counterfeit notes, banks are advised to cover the banking hall/area and counters under CCTV surv...
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Category :
RBI |
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Distribution of Mahatma Gandhi (New) Series Banknotes – Records
Posted Date : 13-Dec-2016 , 08:00:36 am | Posted By: CASANSAAR
RBI/2016-17/180
DCM (Plg) No. 1683/10.27.00/2016-17
December 12, 2016
The Chairman / Managing Director/ Chief Executive Officer
(All banks maintaining currency chests)
Dear Sir,
Distribution of Mahatma Gandhi (New) Series Banknotes – Records
Please refer to our circular DCM (RMMT) No. G-5/11.01.01/2016-17 dated July 15, 2016 on Receipt and Remittance of Treasure.
2. In the wake...
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Category :
RBI |
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Detection of counterfeit notes in Specified Bank Notes (SBNs) - Reporting
Posted Date : 13-Dec-2016 , 07:59:48 am | Posted By: CASANSAAR
RBI/2016-17/179
DCM (Plg) No. 1679/10.27.00/2016-17
December 12, 2016
The Chairman / Managing Director/ Chief Executive Officer,
Public Sector Banks/ Private Sector Banks / Foreign Banks/ Regional Rural
Banks / Urban Cooperative Banks/ State Cooperative Banks
Dear Sir,
Detection of counterfeit notes in Specified Bank Notes (SBNs) - Reporting
Please refer ourcirculars DCM (Plg) No.1264/10.27.00/2016-17andDCM (Plg) No.1291/10.27.00/2016-17dated November 11, 2016 and November 16, ...
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Category :
RBI |
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