RBI Circular/2014-15/587 DGBA.GAD No.H- 5013/45.01.001/2014-15 May 07, 2015 The Chairman/ Chief Executive Officer All Agency Banks Dear Sir Mandatory issue of acknowledgement to pensioners on submission of life certificates In terms of extant instructions, all pensioners are required to furnish a life certificate to the pension disbursing bank every year in November for continuance of pension. This certificate can be submitted at any branch of the pension paying bank. The ...

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RBI Circular/2014-15/586 DCBR.CO.RCB.No.BC.34/19.51.008/2014-15 May 07, 2015 The CEOs of all State Co-operative Banks Dear Sir/Madam, Opening of branches/extension counters by State Co-operative Banks Please refer to ourcircular RPCD.CO.RF.BC.No.14/07.06.00/2009-10 dated August 4, 2009on “Opening of new place of business by State Cooperative Banks”. The policy for opening of branches/extension counters/specialized branches within the area of operation of the S...

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RBI/2014-15/589DPSS (CO) PD No.2112/02.14.003/2014-15 May 07, 2015 All Scheduled Commercial Banks including RRBs/Co-operative Banks / State Co-operative Banks/Central Co-operative Banks/ Authorised Card Payment Networks Madam / Dear Sir, Security and Risk Mitigation Measures for Card Present and Electronic Payment Transactions A reference is invited to our circularsDPSS.PD.CO.No.513 / 02.14.003 / 2011-2012 dated September 22, 2011andDPSS (CO) PD No.2377 / 02.14.003 / 2012-13 dated June 24, ...

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RBI/2014-15/585 DCBR.BPD (PCB ) Cir.No.8/12.05.001/2014-15 May 5, 2015 The Chief Executive Officer All Primary (Urban) Co-operative Banks. Madam / Dear Sir, Modalities for implementation of Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) and Pradhan Mantri Suraksha Bima Yojana (PMSBY) Government of India, Ministry of Finance intends to roll out Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) Scheme and Pradhan Mantri Suraksha Bima Yojana (PMSBY) from June 1st, 2015. ...

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Circular No. 1003/10/2015-CX Dated 05.05.2015 F.No.267/29/2015-CX-8 Government of India Ministry of Finance Department of Revenue Central Board of Excise and Customs ************ Sub: Clarification regardingCenvatCredit in transit sale through dealer - reg. Kind attention is invited to Notification No. 8/2015 – Central Excise (NT) dated 1-3-2015 amending Central Excise Rules, 2002 (CER). Representations have been received from trade regarding the scope and purpose of third...

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Category : Excise | Comments : 0 | Hits : 602

(To be Published in the Gazette of India Extraordinary Part-II, Section - 3, Sub-Section (ii)) Government of India Ministry of Commerce and Industry Department of Commerce Directorate General of Foreign Trade Notification No. 5 / 2015-20 New Delhi, Dated the 1st May, 2015 Sub: Withdrawal of Duty Free Import Authorisation (DFIA) Scheme for import of raw Sugar. S.O.(E) In exercise of the powers conferred by Section 5 of the Foreign Trade (Development & Regulation) Act, 1992 (No.22 of 1...

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Category : DGFT | Comments : 0 | Hits : 1096

G.S.R -ln exercise of the powers conferred by section 3, section 4, sub-sections (5) and (6) of section 5, section 6, sub-section (1) and (2) of section 7, sub-sections (1) and (2) of section 8, clauses (a) and (b) of sub-section (1) of section11, sub­sections (2), (3), (4) and (5) of section 12, sub-sections (3), (4) and the proviso to sub-section (5) of section 13, sub-section (2) of section 14, sub-section (1) of section 17, sub-sections (1) and (2) of section 20 read with sub-sections (1...

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Category : Companies Act | Comments : 0 | Hits : 647

[TO BE PUBLISHED IN THE GAZETTE OF INDIA, EXTRAORDINARY, PART II, SECTION 3, SUB-SECTION (i)] GOVERNMENT OF INDIA MINISTRY OF FINANCE (Department of Revenue) Notification No. 12/2015-Central Excise (N.T.) New Delhi, the 30th April, 2015 G.S.R. (E).- In exercise of the powers conferred by section 37 of the Central Excise Act, 1944 (1 of 1944) and section 94 of the Finance Act, 1994 (32 of 1994), the Central Government hereby makes the following rules further to amend the CENVAT Credit Rule...

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[TO BE PUBLISHED IN THE GAZETTE OF INDIA, EXTRAORDINARY, PART II, SECTION 3, SUB-SECTION (i)] GOVERNMENT OF INDIA MINISTRY OF FINANCE (DEPARTMENT OF REVENUE) NOTIFICATION New Delhi, the 30th Aoril, 2015 No. 12/2015-Service Tax, G.S.R.….(E).- In exercise of the powers conferred by sub-section (1) of section 93 of the Finance Act, 1994 (32 of 1994), the Central Government, being satisfied that it is necessary in the public interest so to do, hereby makes the following further ame...

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Category : Service Tax | Comments : 0 | Hits : 489

RBI/2014-15/577DCBR.CO.BPD.(SCB).No.1/13.05.000/2014-15 April 30, 2015 The Chief Executive Officers ofAll Scheduled Primary (Urban) Co-operative Banks Dear Sir/Madam, First Bi-monthly Monetary Policy Statement 2015-16 – Issue of Credit Cards by Scheduled Urban Cooperative Banks Please refer to para 26 of First Bi-monthly Monetary Policy Statement 2015-16 (extract appended) by Reserve Bank of India on April 07, 2015 on the captioned subject. 2. With a view to enlarging the scope of Ur...

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RBI/2014-15/579A.P. (DIR Series) Circular No. 96 April 30, 2015 To All Category – I Authorised Dealer Banks Madam / Sir, Deferred Payment Protocols dated April 30, 1981 and December 23, 1985between Government of India and erstwhile USSR Attention of Authorised Dealer Category-I (AD Category-I) banks is invited toA.P. (DIR Series) Circular No. 29 dated September 12, 2014wherein the Rupee value of the Special Currency Basket was indicated as Rs. 80.580297 effective from September 09, 2...

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Category : RBI | Comments : 0 | Hits : 255

RBI/2014-15/581DNBR(PD).CC.No.034/03.10.42/2014-15 April 30, 2015 All NBFCs Dear Sir, Know Your Customer (KYC) guidelines - accounts of proprietary concerns Please refer tocircular No.DNBS.(PD).CC.No.275/03.10.42/2011-12 dated May 29, 2012on the captioned subject. 2. Reserve Bank has been receiving representations pointing out difficulties in complying with the requirement of furnishing two documents as activity proof while opening accounts of sole proprietary firms in certain cases. It is...

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RBI/2014-15/582DBR.No.BAPD.BC.92/22.01.003/2014-15 April 30, 2015 All Commercial Banks (including RRBs) Dear Sir/Madam, Acquisition of Accommodation on Lease/Rental basis by Commercial Banks for their use (i.e. for Office and Residence of Staff) – Liberalization of guidelines Please refer to Circulars DBOD.No.BL.BC.105/22.01.03/98 dated November 11, 1998,DBOD.No.BL.BC.32/22.01.003/2008-09 dated August 21, 2008andDBOD. No.BAPD.BC.59/22.01.003/2012-13 dated November 20, 2012on the above...

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Category : RBI | Comments : 0 | Hits : 387

RBI/2014-15/583DCBR.BPD (PCB/RCB) Cir. No.33/12.05.001/2014-15 April 30, 2015 The Chief Executive OfficerAll Primary (Urban) Co-operative Banks /DCCBs/StCBs Rights of Transgender Persons - Changes in Bank Forms / Applications etc. It has been brought to our notice that transgender persons face difficulties in opening accounts as there is no provision for them in the account opening and other forms. 2. in this connection, banks are advised to refer to the judgement dated April 15, 2014 of th...

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Category : RBI | Comments : 0 | Hits : 204

Central Government, exercising its power conferred under Section 14 of the Foreign Contribution Regulation Act (FCRA) 2010, cancelled the certificate of registration of 8,975 NGOs for violating provisions of section 18,read withRule 17(2) of the Foreign Contribution (Regulation) Rule, 2011. In view of section 18 of the FCRA 2010, every person who has been granted a certificate under this Act has to furnish, within prescribed time and manner, an annual return to the Central Government and such...

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Category : FEMA | Comments : 0 | Hits : 628

Circular No.1001/8/2015-CX.8 F. No.267/18/2015-CX.8 Government of India Ministry of Finance Department of Revenue Central Board of Excise and Customs New Delhi, the 28th April, 2015 To, Principal Chief Commissioners/Chief Commissioners of Central Excise (All), Principal Chief Commissioners/Chief Commissioners of Service Tax (All), Principal Chief Commissioners/Chief Commissioners of Customs (All), Director General, Directorate General of Central Excise Intelligence, Web-maste...

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Category : Custom | Comments : 0 | Hits : 553

Filling of online return for 4th quarter of 2014-15 - extension of period thereof. Date of efiling Dvat return has extended up to 15.05.2015....

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Category : VAT | Comments : 0 | Hits : 970

RBI/2014-15/563DBR.No.BP.BC.88/21.04.048/2014-15 April 23, 2015 All Scheduled Commercial Banks(Excluding Regional Rural Banks) Dear Sir, Mandatory Leave for Employees Posted inSensitive Positions or Areas of Operation Please refer to ourcircular DBS.CO.FrMC.BC.No.10/23.04.001/2010-11 dated May 31, 2011on ‘Findings of Forensic Scrutiny- Guidelines for prevention of frauds’, in terms of which banks were advised to immediately put in place ‘staff rotation’ policy and po...

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RBI/2014-15/565DBR.No.CID.BC.89/20.16.001/2014-15 April 23, 2015 i) All Scheduled Commercial Banks (excluding RRBs and LABs) andii) All India Notified Financial Institutions Dear Sir / Madam Collection and Dissemination of Information on Defaulters Please refer to ourCircular DBOD.No.DL.BC.54/20.16.001/2001-02 dated December 22, 2001on the above subject. 2. As you are aware, Section 2(60) of the Companies Act, 2013 defines an officer who is in default to mean only the following categories ...

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Category : RBI | Comments : 0 | Hits : 570

RBI/2014-15/566DBR.No.CID.BC.90/20.16.003/2014-15 April 23, 2015 i) All Scheduled Commercial Banks (excluding RRBs and LABs) andii) All India Notified Financial Institutions Dear Sir / Madam Collection and Dissemination of Information on Wilful Defaulters Please refer to theMaster Circular on Wilful Defaulters DBR.No.CID.BC.57/20.16.003/2014-15 dated January 7, 2015. 2. Paragraph 3 of the Circular has been amended as follows (amended portion in bold italics): “3. Mechanism for ident...

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Category : RBI | Comments : 0 | Hits : 468

RBI/2014-15/571DCM(CC)No.G-13/4553/03.39.01/2014-15 April 23, 2015 The Chairman & Managing Director /Chief Executive Officer / Managing DirectorAll Scheduled Commercial Banks Madam/ Dear Sir, Simplified procedure for opening of Currency Chests Please refer to our circular DCM(CC)No.2991/03.39.01/2011-12 dated January 02, 2012 on “Construction of Currency Chests Strong Rooms / Vaults”. The extant instructions for setting up of new currency chests were reviewed and it has been...

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Category : RBI | Comments : 0 | Hits : 858

RBI/2014-15/572DBR.No.Leg.BC.91/09.07.005/2014-15 April 23, 2015 All Scheduled Commercial Banks(Excluding RRBs) Dear Sir/Madam Rights of transgender persons – Changes in bank forms/applications etc. It has been brought to our notice that transgender persons face difficulties in opening accounts as there is no provision for them in the account opening and other forms. 2. in this connection, banks are advised to refer to the judgement dated April 15, 2014 of the Supreme Court in the ca...

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Category : RBI | Comments : 0 | Hits : 278

Circular No. 14 /2015-Cus. F.No. 605/55/2014-DBK Government of India Ministry of Finance, Department of Revenue Central Board of Excise and Customs New Delhidated20thApril 2015 To, All Principal Chief Commissioners/Chief Commissioners of CBEC All Principal Directors General/Directors General of CBEC All Principal Commissioners/Commissioners of CBEC Ma’am/Sir, Subject: Foreign Trade Policy 2015 - 2020 –Salient changes in Schemes of reward or in...

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Category : Custom | Comments : 0 | Hits : 458

SEBI vide circular dated May 30, 2012 (Exit Circular) issued guidelines for exit of De-recognized/Non-operational stock exchanges. Subsequently, vide circular dated May 22, 2014, SEBI issued directions to the stock exchanges to address issues faced by companies exclusively listed in non-operational stock exchanges. ...

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Category : SEBI | Comments : 0 | Hits : 504

RBI/2014-15/561 A.P. (DIR Series) Circular No. 95 April 17, 2015 To All Category – I Authorised Dealer Banks Madam/Sir Foreign Direct Investment (FDI) – Reporting under FDI Scheme on the e-Biz platform Attention of Authorised Dealers Category-I (AD Category - I) banks is invited to the provisions of the Foreign Exchange Management (Transfer or Issue of Security by a Person Resident outside India) Regulations 2000, notified by the Reserve Bank videNotification No.F...

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Category : FEMA | Comments : 0 | Hits : 430

In exercise of powers conferred under paragraph 2.04 of the Foreign Trade Policy 2015-2020, the Director General of Foreign Trade hereby revises the mode of deposit of application fees by amending Appendix 2K (Scale of Application Fee and Format for Deposit/Refund of Application Fee/Penalty etc.) of Appendices and Aayaat Niryat Forms, 2015-20...

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Category : DGFT | Comments : 0 | Hits : 649

After the new jurisdiction orders have been passed by you/ your officers' subsequent to restructuring, the PAN requires to be migrated to the new Ward/ circle as per the new jurisdiction. It appears that this activity has not been completed by some of the field officers. This is causing inconvenience to a large number of taxpayers. The Chairperson CBDT has desired that this activity of migrating PANs must be completed by 25 th April, 2015 so that the taxpayers are aware of their jurisdiction...

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Category : CBDT | Comments : 0 | Hits : 471

RBI/2014-15/557 FIDD.No.FSD.BC.53/05.04.02/2014-15 April 16, 2015 The Chairman / Managing Director All Public & Private Sector Scheduled Commercial Banks Dear Sir / Madam Union Budget – 2015-16 Interest Subvention Scheme Please refer to ourCircular FIDD. No. FSD.BC. 48/05.04.02/2014-15 dated January 21, 2015on Interest Subvention Scheme for Short-term Crop Loans for the year 2014-15. As regards the Scheme for the year 2015-16, Government of India (GoI) has advised that...

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Category : RBI | Comments : 0 | Hits : 515

RBI/2014-2015/556 DCBR.CO.RCB.No.BC.29/19.51.008/2014-15 April 16, 2015 All State Co-operative Banks Dear Sir, Section 23 of the Banking Regulation Act, 1949 (As Applicable to Co-operative Societies) - Guidelines on Off-site/Mobile Automated Teller Machines (ATMs) Please refer to our circular RPCD.No.BC.114/07.06.00-94/95 dated February 1, 1995, in terms of which State Cooperative Banks (StCBs) are permitted to install on-site ATMs without obtaining prior permission from RBI. In...

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Category : RBI | Comments : 0 | Hits : 470

RBI/2014-15/554 DBR.No.Dir.BC.87/13.03.00/2014-15 April 16, 2015 All Scheduled Commercial Banks (Excluding RRBs) Dear Sir/ Madam Interest Rates on Deposits Please refer to our circulars DBOD. No. Dir.BC.36/13.03.00/98 dated April 29, 1998, DBOD. No. Dir.BC.07/13.03.00/2001-02 dated August 11, 2001 andDBOD. No. Dir. BC.74/13.03.00/2012-13 dated January 24, 2013in terms of which banks are allowed to offer differential rates of interest on term deposits on the basis of tenor for de...

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Category : RBI | Comments : 0 | Hits : 443