SIDBI Celebrates it's Foundation day with launch of ' Samridhi - the virtual assistant' & ' Bankability Kit'
Posted Date : 02-Apr-2018 , 04:25:34 pm | Posted By CASANSAAR
SIDBI celebrated its foundation day today as day of Sampark (connect), Sanwad (interaction), Suraksha (security) and Sampreshan (disseminate).Chairman Managing Director of SIDBI Shri Mohammad Mustafa launched a series of initiatives from its Lucknow bank headquarters. He mentioned that the occasion ...
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Finance |
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Insolvency and Bankruptcy Code set for major overhaul
Posted Date : 02-Apr-2018 , 09:35:11 am | Posted By CASANSAAR
India’s bankruptcy law, the Insolvency and Bankruptcy Code (IBC), is set for a major overhaul as policymakers seek to decisively deal with business failures that slow down expansion in Asia’s third-largest economy.
The ministry of corporate affairs is finalizing a series of IBC amendm...
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Insolvent Professional |
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RBI examining enforcement action in PNB fraud case
Posted Date : 01-Apr-2018 , 11:03:03 pm | Posted By CASANSAAR
With multiple agencies probing the alleged Rs 13,000-crore fraud at state-run Punjab National Bank, the Reserve Bank of India (RBI) says it has conducted its scrutiny and the matter is currently under examination for “enforcement action”.
Replying to an RTI query, the central bank als...
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RBI |
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Diesel price hits all-time high, petrol prices highest in 4 years
Posted Date : 02-Apr-2018 , 09:22:04 am | Posted By CASANSAAR
Petrol price today hit a four-year high of 73 rupees 73 paise a litre, while diesel rates touched an all-time high of 64 rupees 58 paise in the national capital.
State-owned oil firms, which have been since June last year revising auto fuel prices daily, today raised petrol and diesel rates...
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General |
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IBBI invites suggestions on regulation of fee payable to IPs and other process costs under CIRP
Posted Date : 02-Apr-2018 , 09:16:37 am | Posted By CASANSAAR
Insolvency and Bankruptcy Board of India (IBBI) released a discussion paper today on regulation of fee payable to insolvency professionals (IPs) and other process costs under Corporate Insolvency Resolution Process (CIRP). The discussion paper is availabl...
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Insolvent Professional |
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Smooth Roll-out of E-way Bill System from today, 1st April, 2018
Posted Date : 02-Apr-2018 , 09:14:21 am | Posted By CASANSAAR
As per decision of the GST Council, e-Way Bill system became mandatory from today i.e. 01st April, 2018 for all inter-State movement of goods. The implementation of the nationwide e-Way Bill mechanism under GST regime is being done by GSTN in association with the National Informatics Centre (N...
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GST |
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CBEC sanctions Rs 12700 Cr GST refund claims
Posted Date : 01-Apr-2018 , 11:45:02 am | Posted By CASANSAAR
The government has sanctioned GST refunds worth about Rs 12,700 crore or 80 per cent of the eligible claims of exporters, an official said today.
The Central Board of Excise and Customs (CBEC) had organised refund facilitation camps in field offices between March 15-31 to assist exporters in fill...
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GST |
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Clarification with respect to the E-way Bill System
Posted Date : 01-Apr-2018 , 11:39:15 am | Posted By CASANSAAR
The e-way Bill System for Inter-State movement of goods across the country is being introduced from 01st April 2018. Few clarifications regarding the new e-way bill system are as follows:
Situation: -Consider a situation where a consignor is required to move goods from City X to City Z. He appoin...
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GST |
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Bank Branch Audit - Updates on allotment of Branches
Posted Date : 31-Mar-2018 , 06:52:10 am | Posted By CASANSAAR
Bank Branch Audit 2018 - Update on allotment of Branches
As per information received, RBI has approved the Bank Branch Audit Pannel. Banks start sending mails for allotment of Branches.
Following Banks has start sending emails for allotment of branches as informed by Memb...
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Bank Branch Audit |
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Banks to remain open till 8 PM on March 31 - RBI
Posted Date : 31-Mar-2018 , 09:34:33 am | Posted By CASANSAAR
Reserve Bank of India's offices and all designated branches of agency banks conducting government banking will keep their counters open up to 8.00 PM today for greater convenience to tax payers. Electronic transactions can also be done till midnight today.
The RBI says, centralised payment sy...
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RBI |
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IBBI commences conduct of online valuation examinations for registration of Valuers
Posted Date : 30-Mar-2018 , 10:58:44 pm | Posted By CASANSAAR
Insolvency and Bankruptcy Board of India (IBBI) is commencing on 31st March, 2018, the conduct of online Valuation examination related to for registration of Valuers under the Companies ( Registered Valuers and Valuation) Rules, 2017.
IBBI, being the Authority, in pursuance of the first pro...
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Insolvent Professional |
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SEBI tightens rules on corporate governance
Posted Date : 30-Mar-2018 , 10:07:50 am | Posted By CASANSAAR
The Securities and Exchange Board of India (SEBI) has tightened the corporate governance norms for listed companies by accepting most of the recommendations of the Kotak Committee while also strengthening the regulations for derivatives and algorithmic trading.
At a board meeting held on Wednesda...
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SEBI |
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IBBI notifies amendments to insolvency code; applicable from April 1
Posted Date : 30-Mar-2018 , 10:02:52 am | Posted By CASANSAAR
The Insolvency and Bankruptcy Board of India (IBBI) on Wednesday notified the Insolvency and Bankruptcy Board of India (Insolvency Professionals) (Amendment) Regulations, 2018 (Amendment Regulations), effective April 1.
According to the amendment regulations, subject to meeting other requirements...
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Insolvent Professional |
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Income Tax Dept names and shames 24 defaulters owing Rs 4.9 bn in taxes
Posted Date : 30-Mar-2018 , 09:57:59 am | Posted By CASANSAAR
The Income-Tax Department on Thursday released a pan-India list of 24 defaulting individuals and companies who owe about Rs 4.9 billion in taxes to the exchequer but have either gone untraceable or have reported inadequate assets for payment of dues.
The department issued an advertisement as part...
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Income Tax |
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RBI imposes Rs 59 cr fine on ICICI Bank for violating securities sale norms
Posted Date : 30-Mar-2018 , 09:48:11 am | Posted By CASANSAAR
The Reserve Bank has imposed a penalty of Rs 58.9 crore on the country's leading private sector lender ICICI Bank for violating central bank's directions pertaining to direct sale of securities.
"The Reserve Bank of India (RBI) has imposed through an order dated March 26, 2018, a mon...
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RBI |
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Finmin asks RBI to help ease industry troubles post LoU ban
Posted Date : 30-Mar-2018 , 09:46:27 am | Posted By CASANSAAR
The finance ministry has asked RBI to look into the problems being faced by industry and banks by the abrupt ban on LoUs, and provide some breathing space to them, sources said.
Reserve Bank of India this month banned issuance of Letters of Undertaking (LoUs) and Letters of Comfort (LoC), used ex...
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RBI |
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RBI to banks - Audit SWIFT transactions by June 30
Posted Date : 29-Mar-2018 , 10:13:32 am | Posted By CASANSAAR
The Reserve Bank of India (RBI) has directed all scheduled commercial banks to audit their SWIFT interbank transactions by as early as June 30 to detect any anomaly or fraud, a top official told FE. The directive is part of the RBI’s efforts to crack down on any manipulation or abuse of the SW...
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RBI |
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IBBI notifies amendments to the IBBI (Insolvency Professionals) Regulations, 2016
Posted Date : 28-Mar-2018 , 08:46:43 pm | Posted By CASANSAAR
The Insolvency and Bankruptcy Board of India (IBBI) has evolved a transparent and consultative process for making regulations. It has been endeavour of the IBBI to effectively engage stakeholders in the regulation making process to factor in ground reality, secure ownership of regulations and make r...
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Insolvent Professional |
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Govt asks businesses to register on e-way bill platform ahead of Apr 1 rollout
Posted Date : 28-Mar-2018 , 08:42:05 pm | Posted By CASANSAAR
Government has asked businesses and transporters to register on e-way platform as soon as possible with just three days left for the Electronic Way bill to roll out.
From the first of April, businesses would be required to present the e-way bill to a GST inspector for inter-state transporta...
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GST |
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Govt of India and Asian Development Bank (ADB) sign $80 Million Loan Agreement to help boost Youth Employability in HP
Posted Date : 28-Mar-2018 , 10:00:08 am | Posted By CASANSAAR
The Asian Development Bank (ADB) and the Government of India signed $80 million loan here today to help modernize technical and vocational education and training (TVET) institutions and improve the skills ecosystem in the State of Himachal Pradesh.
Shri Sameer Kumar Khare, Joint Secretary (Multil...
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Finance |
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NCLT orders liquidation for two Rotomac companies
Posted Date : 28-Mar-2018 , 10:15:09 am | Posted By CASANSAAR
The National Company Law Tribunal has ordered liquidation of two Rotomac group companies -- Global and Exports -- whose promoter Vikram Kothari is accused of being involved in a banking fraud. The order was pronounced at the NCLT’s Allahabad chapter.
The initial period of 180 days exp...
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Insolvent Professional |
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GST profiteering complaint form simplified - Fin Min
Posted Date : 28-Mar-2018 , 10:08:54 am | Posted By CASANSAAR
The Finance Ministry has simplified and reduced the number of columns in the complaint form to make it easier for consumers to report any profiteering activity by businesses post GST rollout.
The number of columns in the simplified single-page form have been slashed to 16, of which 12 field...
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GST |
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Due Date for Linking of Aadhar with PAN extended to 30th June 2018
Posted Date : 27-Mar-2018 , 08:39:09 am | Posted By CASANSAAR
CBDT extended the due date for linking the Aadhar Card with PAN till June 30, 2018.
Vide its orders dated 31.07.17, 31.08.17 & 08.12.17, in file of even number, CBDT had allowed time till 31st March, 2018 to link PAN with Aadhaar while filing the tax-returns. Upon consideration of...
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PAN |
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Group for Development/Procurement of System/Software for E-voting in Institute's Elections - ICAI
Posted Date : 27-Mar-2018 , 05:29:53 pm | Posted By CASANSAAR
The Council at its 374th meeting held from 21st to 24th March, 2018 while deliberating the item on introduction of E-voting in the elections to the Council and Regional Councils to be held in December, 2018 decided that E-voting should be introduced, in the first instance, for election to the Managi...
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ICAI Election |
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GST revenue collections for February 2018 stand at Rs. 85,174 crore
Posted Date : 27-Mar-2018 , 05:23:27 pm | Posted By CASANSAAR
Total Revenue Collection under GST: The last date for filing of GSTR 3B return for the month of February 2018 was 20th March 2018. The total revenue received under GST for the month of February 2018(received in February/March upto 26th March) has been Rs. 85,174 crores.
1.05 crore taxpayers have ...
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GST |
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Income Tax Offices to Remain Open on 29th, 30th and 31st March, 2018
Posted Date : 27-Mar-2018 , 05:21:13 pm | Posted By CASANSAAR
The last date for filing belated returns for Assessment Years 2016-17 and 2017-18 and revised returns for Assessment Year 2016-17 is 31st March, 2018. The Financial Year 2017-18 closes on 31st March, 2018 which is a Saturday. 29th & 30th March, 2018 are also closed holidays.
Therefore, to fac...
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Income Tax |
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Four PSBs, ATM service providers under Tax Lens
Posted Date : 27-Mar-2018 , 12:27:03 am | Posted By CASANSAAR
The revenue department’s intelligence unit has launched an investigation into alleged collusion between select banks and ATM service providers to avoid payment of value added tax (VAT) and wrongful claim of tax credit.
The Directorate General of Goods and Services Tax Intelligence (DG...
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Banking |
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No continuous holidays for banks
Posted Date : 27-Mar-2018 , 09:07:21 am | Posted By CASANSAAR
Banks will not remain closed for five consecutive days starting from Thursday, a union leader said on Monday.
"The banks will work on March 31 (Saturday) and there is no continuous holidays as per messages in the social media," D. Thomas Franco Rajendra Dev, General Secretary of the All...
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Banking |
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High-level panel on IBC review may stick to 270-day resolution deadline
Posted Date : 27-Mar-2018 , 08:42:50 am | Posted By CASANSAAR
A high-level panel set up to review the Insolvency and Bankruptcy Code (IBC) is likely to have recommended against extending a 270-day moratorium for restructuring a company after its case is admitted by the National Company Law Tribunal (NCLT). The committee submitted its report to the government o...
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Bitcoins |
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Govt issues clarification regarding furnishing of Country-by Country Report under Income Tax
Posted Date : 27-Mar-2018 , 08:29:41 am | Posted By CASANSAAR
In keeping with India’s commitment to implement the Recommendations of the 2015 Final Report on Action 13, titled “Transfer Pricing Documentation and Country-by-Country Reporting”, identified under the OECD Base Erosion and Profit Shifting (BEPS) Project, Section 286 of the Income-...
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Income Tax |
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