Risk Management and Inter Bank Dealings
Posted Date : 13-Jan-2014 , 08:10:21 pm | Posted By: CASANSAAR
RBI/2013-2014/446A.P. (DIR Series) Circular No. 92
January 13, 2014
All Category - I Authorised Dealer banks
Madam/Sir,
Risk Management and Inter Bank Dealings
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, 2000) as amended from time to time andA.P. (DIR Series) Circular no. 58 dated December 15, 20...
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FEMA |
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Regarding levy of the Education Cess and the Secondary and Higher Education Cess on other cesses
Posted Date : 11-Jan-2014 , 08:14:53 am | Posted By: CASANSAAR
Circular No.978/2/2014-CX
F.No.262/2/2008-CX.8
Government of India
Ministry of Finance
Department of Revenue
Central Board of Excise & Customs
New Delhi, the 7th January, 2014
To
(1)The Chief Commissioner of Central Excise (All)
(2)The Chief Commissioner of Central Excise & Customs (All)
(3)The Chief Commissioner of Customs (All)
(4)Directors General (All)
(5)Webmaster.cbec@icegate.gov.in
Madam/Sir,
Sub: Levy of the Education Cess and the Secondary and Higher Educ...
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Category :
Excise |
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Alteration in the name of \"Development Credit Bank Limited\" to \"DCB Bank Limited\" in the Second Schedule to the Reserve Bank of India Act, 1934
Posted Date : 11-Jan-2014 , 08:12:32 am | Posted By: CASANSAAR
RBI/2013-14/442Ref.DBOD.No.Ret.BC /83/12.06.097/2013-14
January 10, 2014
All Scheduled Commercial Banks
Dear Sir
Alteration in the name of ';Development Credit Bank Limited'; to ';DCB Bank Limited '; in the Second Schedule to the Reserve Bank of India Act, 1934
We advise that the name of ';Development Credit Bank Limited” has been changed to ';DCB Bank Limited'; in the Second Schedule to the Reserve Bank of India Act, 1934 w.e.f. October 24, 2013 vide Notification DBO...
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RBI |
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Provisions under section 6 (4) of Foreign Exchange Management Act, 1999 - Clarifications
Posted Date : 10-Jan-2014 , 08:20:30 am | Posted By: CASANSAAR
RBI/2013-14/440A.P. (DIR Series) Circular No. 90
January 9, 2014
To,
All Category- I Authorised Dealer Banks and Authorised Banks
Madam / Sir,
Provisions under section 6 (4) of Foreign Exchange Management Act, 1999 - Clarifications
Attention of Authorized Dealers is invited to Section 6 (4) of FEMA, 1999 in terms of which a person resident in India may hold, own, transfer or invest in foreign currency, foreign security or any immovable property situated outside India if such currency...
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FEMA |
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Memorandum of Instructions for Opening and Maintenance of Rupee / Foreign Currency Vostro Accounts of Non-resident Exchange Houses
Posted Date : 10-Jan-2014 , 08:19:26 am | Posted By: CASANSAAR
RBI/2013-14/438A. P. (DIR Series) Circular No. 88
January 09, 2014
To,
All Authorised Dealer Category - I Banks
Madam / Sir,
Memorandum of Instructions for Opening and Maintenance of Rupee / ForeignCurrency Vostro Accounts of Non-resident Exchange Houses
Attention of Authorised Dealer Category – I (AD Category – I) banks is invited to Part (B) ofAnnex-Ito the A.P. (DIR Series) Circular No. 28 [A. P. (FL/RL Series) Circular No. 02] dated February 6, 2008 on the captioned subject...
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FEMA |
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Resident Bank account maintained by residents in India
Posted Date : 10-Jan-2014 , 08:18:45 am | Posted By: CASANSAAR
RBI/2013-2014/437A.P. (DIR Series) Circular No. 87
January 9, 2014
To
All Banks Authorised to deal in Foreign Exchange
Madam/Sir,
Resident Bank account maintained by residents in India –Joint holder – liberalization
Attention of Authorised Dealer (AD) banks is invited toA.P.(DIR Series) Circular No.12 dated September 15, 2011in terms of which individuals resident in India were permitted to include non-resident close relative(s) (relatives as defined in Section 6 of the Companie...
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FEMA |
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Foreign Direct Investment- Pricing Guidelines for FDI instruments with optionality clauses
Posted Date : 10-Jan-2014 , 08:18:00 am | Posted By: CASANSAAR
RBI/2013-2014/436A.P. (DIR Series) Circular No. 86
January 9, 2014
All Category - I Authorised Dealer banks
Madam/Sir,
Foreign Direct Investment- Pricing Guidelines for FDI instruments with optionality clauses
Attention of Authorised Dealers is invited to the Foreign Exchange Management (Transfer or Issue of Security by a Person Resident outside India) Regulations, 2000 notified videNotification No. FEMA 20 / 2000 -RB dated May 3, 2000as amended from time to time. In terms of the ex...
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FEMA |
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DVAT- Regarding Sting operation by news channel \"Aaj Tak\".
Posted Date : 09-Jan-2014 , 06:01:02 pm | Posted By: CASANSAAR
A sting operation was telecast on 6/01/2014 by neV\lschannel "Aaj Tak",wherein serious allegations about corrupt practices in the Department havebeen alleged by an agent.
In this regard, it is reiterated that giving and accepting of illegalgratification is a serious offence. It has always been the endeavour of theGovernment to stop and deal with such cases strictly.
All the officers/officials are hereby directed to maintain highest standardsof integrity and refrain from indulging in any...
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Category :
VAT |
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Denotification of Bank of India for collections of VAT/CST dues from the dealers referred above with effect from 15th January, 2014
Posted Date : 08-Jan-2014 , 07:12:47 pm | Posted By: CASANSAAR
Bank of India, which was earlier notified as Appropriate Government Treasury for thepurpose of depositing VAT/CST dues in relation to a dealer who is, or liable to be, registered underDVAT Act, 2004, is hereby denotified for collections of VAT/CST dues from the dealers referred abovewith effect from 15th January, 2014...
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Category :
VAT |
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Guidelines for Classification and Valuation of Investments
Posted Date : 08-Jan-2014 , 07:07:35 pm | Posted By: CASANSAAR
RBI/2013-14/434RPCD.CO.RRB.BC.No. 74/03.05.33/2013-14
January 07, 2014
The ChairmenAll Regional Rural Banks
Dear Sir/Madam,
Guidelines for Classification and Valuation of Investments
Please refer to ourcircular RPCD.RRB.BC.No.59/03.05.34/2010-11 dated April 11, 2011, in terms of which RRBs were exempted from ‘Mark to Market’ (MTM) norms in respect of their entire investment in SLR securities, upto the financial year 2012-13. It has now been decided to withdraw the exemption from...
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RBI |
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Application of Minimum Capital Adequacy Norms to State and Central Cooperative Banks (StCBs/CCBs)
Posted Date : 08-Jan-2014 , 07:06:54 pm | Posted By: CASANSAAR
RBI/2013-14/433RPCD.RCB.BC.73/07.51.012/2013-14
January 7, 2014
The Chairman / Managing DirectorAll State and Central Cooperative Banks
Dear Sir / Madam,
Application of Minimum Capital Adequacy Norms toState and Central Cooperative Banks (StCBs/CCBs)
Please refer to thecircular RPCD.CO.RF.BC.40/07.38.03/2007-08 dated December 4, 2007wherein the State and Central Cooperative Banks had been advised to disclose the level of Capital to Risk weighted Assets Ratio (CRAR) as on March 31, 2008 and ...
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RBI |
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CBDT deploys officer to disseminate info for facilitating implementation of Food Security Act
Posted Date : 07-Jan-2014 , 05:44:26 pm | Posted By: CASANSAAR
Where as the Central Government is of the opinion that it is necessary to do so inic interestf'and, therefore, in pursuance of sub-clause (ii) of clause (a) of sub-1) of Section 138 of the Income-tax Act, 1961, the Central Government herebythe officer of the rank of Secretary in various States(s) /Union territories inlndi o is respo4sible for implementation of the National Food Security Act, 2013...
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Category :
Income Tax |
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Banks
Posted Date : 07-Jan-2014 , 05:15:08 pm | Posted By: CASANSAAR
RBI/2013-14/430DBOD.No.BP.BC.82/21.06.217/2013-14
January 7, 2014
The Chairman and Managing Director/Chief Executive Officer ofAll Scheduled Commercial Banks(Excluding Regional Rural Banks)
Dear Sir / Madam,
Banks’ Exposure to Central Counterparties (CCPs) - Interim Arrangements
In terms ofpara 2.1.1.1of the Master Circular on Exposure Norms dated July 1, 2013, the exposure limit applicable to a single counterparty of a bank is 15 per cent of its capital funds.
2. The recen...
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RBI |
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Banks
Posted Date : 07-Jan-2014 , 05:13:07 pm | Posted By: CASANSAAR
RBI/2013-14/430DBOD.No.BP.BC.82/21.06.217/2013-14
January 7, 2014
The Chairman and Managing Director/Chief Executive Officer ofAll Scheduled Commercial Banks(Excluding Regional Rural Banks)
Dear Sir / Madam,
Banks’ Exposure to Central Counterparties (CCPs) - Interim Arrangements
In terms ofpara 2.1.1.1of the Master Circular on Exposure Norms dated July 1, 2013, the exposure limit applicable to a single counterparty of a bank is 15 per cent of its capital funds.
2. The recent ...
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Category :
RBI |
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External Commercial Borrowings (ECB) Policy
Posted Date : 06-Jan-2014 , 08:29:52 pm | Posted By: CASANSAAR
RBI/2013-2014/429A.P. (DIR Series) Circular No. 85
January 6, 2014
To
All Category - I Authorised Dealer banks
Madam/Sir,
External Commercial Borrowings (ECB) Policy – Liberalisation of definition of Infrastructure Sector
Attention of Authorised Dealer Category – I (AD Category – I) banks is invited to theNotification No. FEMA.281/2013-RB dated July 19, 2013published in the Gazette of India vide G.S.R. No. 627 (E) dated September 12, 2013 and to theA.P. (DIR Series) C...
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Category :
FEMA |
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Issue of Non convertible/ redeemable bonus preference shares or debentures - Clarifications
Posted Date : 06-Jan-2014 , 08:28:51 pm | Posted By: CASANSAAR
RBI/2013-2014/428A.P. (DIR Series) Circular No.84
January 6 , 2014
To
All Category - I Authorised Dealer banks
Madam/Sir,
Issue of Non convertible/ redeemable bonus preference shares or debentures - Clarifications
Attention of Authorised Dealers Category- I (AD Category-I) banks is invited to Regulation (2ii) and Regulation 5 of the Foreign Exchange Management (Transfer or Issue of Security by a Person Resident outside India) Regulations, 2000 notified videNotification No.FEMA.20/200...
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Category :
FEMA |
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Overseas Direct Investments
Posted Date : 03-Jan-2014 , 08:58:47 pm | Posted By: CASANSAAR
RBI/2013-14/427A.P. (DIR Series) Circular No.83
January 3, 2014
To
All Category - I Authorised Dealer Banks
Madam / Sir,
Overseas Direct Investments – Rollover of Guarantees
Attention of the Authorised Dealer (AD - Category I) banks is invited the provisions 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 from time to time.
2. It has be...
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Category :
FEMA |
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File Validation Utility version 4.1 and 2.13 7 for e-TDS/TCS Statements wef 04.01.2014
Posted Date : 03-Jan-2014 , 10:32:23 am | Posted By: CASANSAAR
CircularNo: NSDL/TIN/2014/001 January 1, 2014
Subject: Release of File Validation Utility (FVU) version 4.1 and2.13 7 for e-TDS/TCSStatements.
All TIN FacilitationCenters(TIN-FCs) are hereby informed that the following new versions of File Validation Utility (FVU) are being released.
1. FVU version 4.1 – ForStatementspertaining to FY 2010-11 onwards.
2. FVU version 2.137 – ForStatementspertaining to FY 2007-08 to FY 2009-10.
ThesetwoFVU versions are applicable with eff...
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Category :
Income Tax |
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Regarding Handling of Cargo in Customs Area Regulations, (HCCAR) 2009
Posted Date : 01-Jan-2014 , 08:42:04 pm | Posted By: CASANSAAR
Circular No. 45 /2013 - Customs
F.NO. 450/160/2013-CusIV
Government ofIndia
Ministry of Finance
Department of Revenue
Central Board of Excise and Customs
****
New Delhi, dated the 31stDecember, 2013
All Chief Commissioners of Customs
All Chief Commissioners of Customs and Central Excise
All Commissioners of Customs
All Commissioners of Customs and Central Excise
Sir / Madam,
Attention is invited to Regulation 6(2) of the “Handling of Cargo in Customs Area Regulations...
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Category :
Custom |
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Anti-Money Laundering (AML)/Combating of Financing of Terrorism (CFT) - Standards
Posted Date : 01-Jan-2014 , 08:31:45 pm | Posted By: CASANSAAR
RBI/2013-14/426DNBS(PD).CC. No 364/03.10.42/2013-14
January 1, 2014
All Non Banking Financial Companies excludingResiduary Non Banking Companies
Dear Sir/Madam,
Anti-Money Laundering (AML)/Combating of Financing of Terrorism (CFT) - Standards
Please refer toDNBS (PD).CC.No.352/03.10.42/2012-13 dated July 23, 2013on risks arising from the deficiencies in AML/CFT regime of certain jurisdictions.
2. Financial Action Task Force (FATF) has updated its Statement on October 18, 2013 on the captio...
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Category :
RBI |
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Advances guaranteed by Credit Risk Guarantee Fund Trust for Low Income Housing (CRGFTLIH)
Posted Date : 01-Jan-2014 , 08:30:38 pm | Posted By: CASANSAAR
RBI/2013-14/425DNBS.PD.363/03.10.38/2013-14
January 1, 2014
All NBFC-MFIs
Dear Sirs,
Advances guaranteed by Credit Risk Guarantee Fund Trust for Low Income Housing (CRGFTLIH) – Risk Weights and Provisioning
The Ministry of Housing & Urban Poverty Alleviation, Government of India has set up the CRGFTLIH vide their Notification No.O-17034/122/2009-H dated June 21, 2012for the purpose of providing guarantee in respect of low income housing loans. On the issue of assignment of appropr...
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Category :
RBI |
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Delhi VAT : Extension in date of submission of AR-1 to 31.01.2014
Posted Date : 01-Jan-2014 , 08:12:20 am | Posted By: CASANSAAR
GOVERNMENT OF NATIONAL CAPITALTERRITORY OFDELHI
DEPARTMENT OF TRADE & TAXES
VYAPAR BHAWAN : I.P.ESTATE: NEW DELHI -110 002
No. F. 3(384)/Policy/VAT/2013/1188-1200Dated :31/12/2013
NOTIFICATION
In partialmodification ofNotification No. F.3(384)/Policy/VAT/2013/1148-1160 dated 27- 12-2013 regarding submission ofaudit reportin Form AR-I for the year 2012-13 bydealershaving turnover of Rs.10 crores or more in 2011-12 or 2012-13,I Prashant Goyal,Commissioner,Value Added Tax, in exercise of...
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Category :
VAT |
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RBI\'s clarification on Scribbling on Banknotes
Posted Date : 31-Dec-2013 , 05:24:13 pm | Posted By: CASANSAAR
In the wake of rumours circulating in the market that from January 1, 2014, banks will not accept banknotes with anything written on them, the Reserve Bank has urged members of public not to fall prey to such rumours and to use their banknotes without any fear. The Reserve Bank of India has clarified it has NOT issued any such instructions.
It has further clarified that it had issued instructions on August 14, 2013 only to banks advising them to instruct their staff not to scribble or write o...
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RBI |
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Submission of online Quarterly Statements by Securitisation Companies/Reconstruction Companies registered with the Reserve Bank of India under Section 3(4) of the SARFAESI Act
Posted Date : 31-Dec-2013 , 05:20:12 pm | Posted By: CASANSAAR
RBI/2013-2014/422DNBS (PD) CC. No. 34/SCRC/26.03.001/2013-2014
December 31, 2013
All registered Securitisation Companies/ Reconstruction Companies
Submission of online Quarterly Statements by Securitisation Companies/Reconstruction Companies registered with the Reserve Bank ofIndia under Section 3(4) of the SARFAESI Act
Please refer to ourCircular DNBS (PD) CC. No. 5/SCRC/10.30.000/2006-2007 dated April 25, 2007and subsequent Circular DNBS (PD) CC. No.5 / SCRC / 10.30.000/2008-2009 dated Sep...
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Category :
RBI |
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Extension of banking hours in the designated branches, e-payment deadline and acceptance of payment of VCES dues
Posted Date : 31-Dec-2013 , 02:59:50 pm | Posted By: CASANSAAR
RBI/2013-14/420DGBA.GAD.No.H - 3800/42.07.001/2013-14
December 30, 2013
All Agency Banks (authorised to handle CBEC business)
Dear Sir/ Madam,
Extension of banking hours in the designated branches, e-payment deadline and acceptance of payment of VCES dues
The Department of Financial Services, GOI has requested us to facilitate payment of tax under Service Tax Voluntary Compliance Encouragement Scheme, 2013. In this connection, we request that following action may be taken by the designated ...
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Category :
RBI |
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Clarifications Regarding Single Stage Taxation Under Punjab VAT act, 2005
Posted Date : 31-Dec-2013 , 08:09:59 am | Posted By: CASANSAAR
ReferenceNotificationNo. S.O.116/P.A8/2005/S.8/2005/S.8/2013 and NO S.O117/P.A.8/2005/S.8/2013 dated 13thJanuary, 2013
In light of the abovenotificationswe are receiving queries from various dealersand lawyers. In response to this, following clarifications are being issued:
1. Thesenotificationshave been issued under the powers vested in Government undersection 8(3) of VAT Act, 2005 to modifythe ratesof tax.
2. Thesenotificationshavenothing to dowith newly introducedsection 8-C of Punjab VAT ...
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Category :
VAT |
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Clarification regarding exemption from Special Additional Duty of Customs (SAD) on goods cleared from the SEZ / FTWZ into the DTA
Posted Date : 30-Dec-2013 , 07:32:57 pm | Posted By: CASANSAAR
Circular No.44/2013 - Customs
F.No.DGEP/SEZ/32/2011
F.No.354/261/2013-TRU
Government of India
Ministry of Finance
Department of Revenue
Tax Research Unit
*****
New Delhi, the 30thDecember, 2013
To,
Chief Commissioners of Customs (All),
Chief Commissioners of Central Excise and Customs (All),
Director General, Directorate General of Revenue Intelligence,
Commissioners of Customs (All),
Commissioners of Central Excise and Customs (All).
Madam/Sir,
Subject: Exemption from Spec...
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Category :
Custom |
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Inflation Indexed National Savings Securities- Cumulative, 2013
Posted Date : 30-Dec-2013 , 07:22:42 pm | Posted By: CASANSAAR
RBI/2013-14/418DGBA.CDD.No.3798/13.01.999/2013-2014
December 30, 2013
The Chairman & Managing DirectorHead Office (Government Accounts Department)State Bank of India & Associate BanksAll Nationalised BanksICICI Bank Ltd., HDFC Bank Ltd, Axis Bank Ltd., andStock Holding Corporation of India Ltd (SHCIL).
Dear Sir/Madam,
Inflation Indexed National Savings Securities- Cumulative, 2013
Please refer to ourCircular DGBA.CDD.No. 3688/13.01.999/2013-2014 dated December 19, 2013on the caption...
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Category :
RBI |
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Punjab Voluntary Disclosure of Value Added Tax Scheme, 2013
Posted Date : 29-Dec-2013 , 09:17:31 pm | Posted By: CASANSAAR
Whereas with a view to bring in greater transparency in the discharge of taxliabilities by a taxable person under the Punjab Value Added Tax Act, 2005(Punjab Act No.8 of 2005), it is considered necessary so to do, now, therefore, inexercise of the powers conferred by section 29-A of the aforesaid Act and allother powers enabling him in this behalf, the Governor of Punjab is pleased tonotify the scheme for settlement of unpaid tax, namely:-...
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Category :
VAT |
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Clarification with regard to holding of shares or exercising power in a fiduciary capacity - Holding and Subsidiary relationship under Section 2(87) of the Companies Act.2013
Posted Date : 29-Dec-2013 , 09:16:09 pm | Posted By: CASANSAAR
This Ministry has received a number of representations consequent upon notifyingsection 2(87) of the Companies Act, 2013 which defines "subsidiary company" or"subsidiary". The stakeholders have requested this Ministry to clarify whether shares heldor power exercisable by a company in a 'fiduciary capacity' will be excluded whiledetermining if a particular company is a subsidiary of another company. The stakeholdershave further pointed out that in terms of section 4(3) of the Companies Act,...
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Category :
Corporate Laws |
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