RBI says banks will work full day on first and third Saturdays
Posted Date : 29-Aug-2015 , 08:46:04 am | Posted By CASANSAAR
The Reserve Bank of India (RBI) has given the go-ahead for all banks—public, private, foreign and co-operative—to keep their branches closed on second and fourth Saturdays of the month, effective from 1 September.
In exchange for the perk, bank branches will have to be open for full...
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RBI |
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RBI asks Govt to speed up reforms in banking system
Posted Date : 28-Aug-2015 , 08:17:48 am | Posted By CASANSAAR
The Reserve Bank of India (RBI) on Thursday warned the Government that any delay in reform of the banking system in the country would lead to greater risk in the economy. “The current stress in the banking system suggests that the real economy will not wait for the banking system, and a slow p...
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RBI |
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Deloitte, KPMG, EY helping RBI in investigation of NPA cases
Posted Date : 27-Aug-2015 , 08:24:12 am | Posted By CASANSAAR
About a month ago, the Reserve Bank of India (RBI) received reports on forensic investigations it had ordered into the bad debt at two companies.
The RBI has never in the past hired private investigators or forensic experts to carry out such inspections — in these cases, to look for a...
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NPA |
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Income Tax Dept sets Sept 30 deadline for disclosure of black money
Posted Date : 27-Aug-2015 , 08:09:50 am | Posted By CASANSAAR
The Income Tax Department has released a half-page advertisement in Wednesday's newspapers asking people to declare their undisclosed assets abroad on or before September 30, 2015.
The advertisement, which has an image of a huge tree trunk with the palms of two hands around it has one messa...
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Income Tax |
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Amendments to the arbitration Act cleared
Posted Date : 27-Aug-2015 , 08:04:39 am | Posted By CASANSAAR
The government will move an amendment Bill inParliament to make India a favourable place to settle disputes through arbitration.
The Cabinet on Wednesday cleared the Arbitration and Conciliation (Amendment) Bill, 2015 for this purpose, amid companies such as&nbs...
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Corporate Law |
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Extension of the term of the 7th Central Pay Commission
Posted Date : 27-Aug-2015 , 08:00:50 am | Posted By CASANSAAR
The Union Cabinet chaired by the Prime Minister, Shri Narendra Modi, today gave its approval for the extension of the term of the 7th Central Pay Commission by four months up to 31.12.2015.
Background:
The 7th Central Pay Commission was constituted by the Central Government on 28.2.2014....
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General |
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Govt to decide today on special session for GST bill
Posted Date : 26-Aug-2015 , 08:09:12 am | Posted By CASANSAAR
Looking to turn the Chinese stocks crisis to its advantage, the government is preparing to bat for a special session of Parliament to pass the GST bill, arguing that this will boost India's ability to buffer the Indian economy.
The Cabinet is expected to take a call whether to convene a...
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GST |
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ICAI takes back its decision on Mechanism to Monitor Tendering
Posted Date : 26-Aug-2015 , 08:04:12 am | Posted By CASANSAAR
REVISED ANNOUNCEMENT- MECHANISM TO MONITOR TENDERING
24th August, 2015
The Council at its 345th meeting held from 14th to 16th August, 2015 considered the concerns raised by members on the decision of the Council with regard to mechanism to monitor tendering hosted on the website of the ...
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ICAI |
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CBDT ready to address problem of over-pitched assessments
Posted Date : 25-Aug-2015 , 07:04:47 am | Posted By CASANSAAR
The Central Board of Direct Taxes (CBDT) is “ready” to address the problem of “over-pitched” assessments by the officers of income tax department, its Chairperson Anita Kapur has said.
At the same time, the CBDT also expects enterprises and their consultants to contribut...
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CBDT |
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PSU Banks Plan to Sell Rs 2,700 Crore NPAs
Posted Date : 24-Aug-2015 , 09:39:27 pm | Posted By CASANSAAR
After a lull in asset sales markets in the past few quarters wherein state-run banks failed to dispose of their troubled loans, more such banks are planning to tap the ARCs this quarter.
City-based Union Bank of India, Karnataka-based Corporation Bank and Bank of Maharashtra today said they are p...
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NPA |
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Sensex crashes 1,624 points; investors lose over Rs.7 lakh cr.
Posted Date : 24-Aug-2015 , 09:32:13 pm | Posted By CASANSAAR
The benchmark Sensex on Monday crashed 1,624.51 points — its biggest single-day fall — ending below 26,000 on heavy outflows as the rupee sank 82 paise to a fresh two-year low of 66.65.
The index ended the day 5.94 per cent down at 25,741.56 points as jittery investors sold off shar...
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Shares & Stock |
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RBI panel recommends conversion of UCBs with Rs 20,000 cr rev into regular banks
Posted Date : 24-Aug-2015 , 08:29:11 am | Posted By CASANSAAR
A Reserve Bank of India (RBI) panel has recommended conversion of Urban Cooperative Banks (UCBs), which have a revenue of more than Rs 20,000 crore into regular banks.
The recommendation has been made with the objective of allowing UCBs to grow and proliferate further for financial inclusion.
...
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RBI |
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Bandhan Bank joins Indian banking league with 501 branches
Posted Date : 23-Aug-2015 , 06:59:19 pm | Posted By CASANSAAR
Bandhan Bank on Sunday began operations as a full-fledged bank with 501 branches and 1.43 crore accounts across the country, becoming the newest member of the estimated USD two-trillion Indian banking industry.
Bandhan said it is starting operations with 1.43 crore accounts, around Rs.10,500 cr...
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Banking |
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CAs to play key role in India’s growth story
Posted Date : 23-Aug-2015 , 12:40:50 pm | Posted By CASANSAAR
India is poised to grow into a $ 3 trillion economy in future, and it will have tremendous opportunities for people who can contribute to development, said Institute of Chartered Accountants of India (ICAI) former President and Padmasri award winner T.N. Manoharan.
He asserted that chartered ac...
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CA |
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Firms appoint new Auditors in shift to meet new standards
Posted Date : 21-Aug-2015 , 08:18:58 am | Posted By CASANSAAR
As Indian firms transition towards a new system of auditor rotation, which comes into effect in April 2017, companies have started to plan ahead to ensure a smooth transition.
Companies will have to appoint a new statutory auditor if the current auditing firm has been associated with the compan...
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Auditing |
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Banks to remain closed on 2nd, 4th Saturdays from September 1
Posted Date : 21-Aug-2015 , 08:15:39 am | Posted By CASANSAAR
Bringing cheers to lakhs of bank employees, the government has accepted the long-pending demand of workers to declare second and fourth Saturdays holidays, with effect from September 1.
"The notification regarding Saturday off has come. It is effective from September 1," All India...
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Banking |
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ITR filing: Tax department to organise special camp in Delhi
Posted Date : 21-Aug-2015 , 08:11:15 am | Posted By CASANSAAR
The tax department will hold an eight-day special camp in the national capital to help taxpayers file their Income Tax Returns (ITRs).
The camp will be held at the civic centre I-T building, near Connaught Place, and will be inaugurated on August 24 by CBDT Chairperson Anita Kapur.
...
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ITR |
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Government issues norms for selection of Chiefs of smaller PSU Banks
Posted Date : 21-Aug-2015 , 08:08:10 am | Posted By CASANSAAR
Chiefs of all public sector banks, other than five large ones, will come from within the talent pool of state-owned lenders, according to the new selection guidelines issued by the government on Thursday.
The selection process will start next month, the Finance Ministry said in a statement.
Ac...
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Banking |
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SEBI bars 59 entities for misusing stock options
Posted Date : 20-Aug-2015 , 09:53:07 pm | Posted By CASANSAAR
The Securities and Exchange Board of India, or Sebi, on Thursday, barred 59 entities from accessing the capital markets for manipulatively trading in derivatives of thinly traded stocks on BSE to generate fictitious profits and losses, allegedly with the aim of evading tax.
While passing an int...
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Income Tax |
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Govt to ensure reasonable GST rate: FinMin
Posted Date : 20-Aug-2015 , 09:44:36 pm | Posted By CASANSAAR
Government is trying to keep proposed GST rate as reasonable as possible to ensure success of the new indirect tax regime and better growth of the economy. Revenue Secretary Shaktikanta Das said this at a function in New Delhi today.
He also said the effort of the government is to ensure a ...
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GST |
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Signing and Ratification of agreement between India and Seychelles for the exchange of information with respect to taxes
Posted Date : 20-Aug-2015 , 09:41:56 pm | Posted By CASANSAAR
The Union Cabinet, chaired by the Prime Minister Shri Narendra Modi, has approved the signing and ratification of the agreement between India and Seychelles for exchange of information with respect to taxes.
The Agreement will stimulate the flow of exchange of information between India and ...
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International Taxation |
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ICAI Election-Check your Place of Polling at casansaar.com/icaielection
Posted Date : 20-Aug-2015 , 08:48:32 am | Posted By CASANSAAR
ICAI has released the draft list of Voters for ICAI Elections 2015. Members can check there Eligibility of Vote & Place of Polling at
www.casansaar.com/icaielection
The draft List of Voters contains the professional address of the voters, his membership number and seri...
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ICAI Election |
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Invitation for empanelment as Examiners for CA EXAMS - ICAI
Posted Date : 20-Aug-2015 , 08:16:32 am | Posted By CASANSAAR
Invitation for empanelment as Examiners for CA EXAMS - ICAI
18th August 2015
Applications are invited from eligible members of the Institute and other professionals including academicians of reputed educational institutions, tax and legal practitioners etc., hav...
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CA Exams |
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SEBI rejects brokers plea to set minimum brokerage rate
Posted Date : 20-Aug-2015 , 08:10:29 am | Posted By CASANSAAR
Market regulator Securities and Exchange Board of India (Sebi) has rejected brokers' request to set a floor to brokerage rates. Brokers are worried that cut-throat competition along with the entry of several discount brokerages in the market might be pushing down broking rates to unsustainable l...
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SEBI |
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RBI grants In-Principle approval to 11 payment banks applicants
Posted Date : 19-Aug-2015 , 11:12:38 pm | Posted By CASANSAAR
The Reserve Bank of India (RBI) on Wednesday granted in-principle approval to 11 payment banks applicants under the Guidelines for Licensing of Payments Banks.
RBI had received 41 applications for payments banks. The central bank has approved applications of Aditya Birla Nuvo Limited, Airte...
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RBI |
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Filling up of 10 posts of Technical Member in the National Company Law Tribunal (NCLT)
Posted Date : 19-Aug-2015 , 08:28:03 am | Posted By CASANSAAR
The Ministry of Corporate Affairs has invited applications for 10 posts of Technical Member in the National Company Law Tribunal (NCLT) to be constituted under Section 408 of the Companies Act, 2013.
A member of the Institute who is, or has been in practice as a chartered accountant for at ...
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Corporate Law |
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SEBI-FMC merger set to be formalised on September 28
Posted Date : 19-Aug-2015 , 08:16:32 am | Posted By CASANSAAR
The much-anticipated merger of the Forward Markets Commission with SEBI is set to get formalised from September 28. The government will soon issue a notification in this regard for market participants, including exchanges, intermediaries and members to prepare for the transition, said sources in the...
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SEBI |
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Govt notifies tax rebate for 21 backward districts in Bihar
Posted Date : 19-Aug-2015 , 08:08:58 am | Posted By CASANSAAR
Ahead of the assembly polls, the Centre has notified 21 districts of Bihar, including capital Patna, as “backward” areas for conferring income tax rebate of 15 per cent on setting up of new manufacturing plants and buildings.
The Central Board of Direct Taxes (CBDT), the apex policy...
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Income Tax |
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A Report on Audit Quality Review Findings (2012-15) - ICAI
Posted Date : 18-Aug-2015 , 10:20:27 pm | Posted By CASANSAAR
ANNOUNCEMENT
A Report on Audit Quality Review Findings (2012-15)
Government of India has, in exercise of the powers conferred under Section 28A of the Chartered Accountants Act, 1949, constituted a Quality Review Board (the ‘Board’) to perform the following functions u/s 28B of the...
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ICAI |
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Finmin mulls 1% Income Tax rebate for card payments
Posted Date : 18-Aug-2015 , 07:28:41 am | Posted By CASANSAAR
Credit or debit card users may get to claim 1% of their annual transactions as deduction from income, if a proposal made by a section of the finance ministry is implemented, reports Prasanta Sahu in New Delhi. The move could marginally reduce the income tax liability of credit and debit card users. ...
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Income Tax |
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