Interest Rates on FCNR(B) Deposits
Posted Date : 20-Aug-2013 , 07:50:20 pm | Posted By: CASANSAAR
RBI/2013-14/194RPCD.CO.RRB.BC.No.22 /03.05.33/2013-14
August 19, 2013
All Regional Rural Banks
Dear Sir,
Interest Rates on FCNR(B) Deposits
Please refer to ourcircular RPCD.CO.RRB.No.76/03.05.33(C)/2011-12 dated May 8, 2012on Interest Rates on Deposits held in FCNR(B) Accounts. In view of the prevailing market conditions, it has been decided that until further notice and with effect from the close of business in India as on August 14, 2013, the interest rate ceiling on FCNR(B) Dep...
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Deregulation of Interest Rates on Non-Resident (External) Rupee (NRE) Deposits
Posted Date : 20-Aug-2013 , 07:48:59 pm | Posted By: CASANSAAR
RBI/2013-14/193RPCD.CO.RRB. BC.No.24/03.05.33/2013-14
August 19, 2013
The ChairmenAll Regional Rural Banks (RRBs)
Dear Sir/Madam,
Deregulation of Interest Rates on Non-Resident (External) Rupee (NRE) Deposits
Please refer to ourcircular RPCD.CO.RRB.BC.No.45/03.05.33(C)/2011-12 dated December 19, 2011on Deregulation of Interest Rates on Non-Resident (External) Rupee (NRE) Deposits and Ordinary Non- Resident (NRO) Accounts.
2. In terms of para 2 ibid, interest rates offered by bank...
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RBI |
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Investments by Non-resident Indians (NRIs) under Portfolio Investment Scheme (PIS) Liberalisation of Policy
Posted Date : 20-Aug-2013 , 07:47:33 pm | Posted By: CASANSAAR
RBI/2013-14/192A. P. (DIR Series) Circular No.29
August 20, 2013
To
All Category-I Authorised Dealer Banks
Madam / Sir,
Investments by Non-resident Indians (NRIs)under Portfolio Investment Scheme (PIS)Liberalisation of Policy
Attention of Authorised Dealers Category-I (AD Category - I) banks is invited to Schedule 3 of 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 ...
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FEMA |
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Foreign Investments in Asset Reconstruction Companies (ARC)
Posted Date : 19-Aug-2013 , 08:02:22 pm | Posted By: CASANSAAR
RBI/2013-14/191A.P. (DIR Series) Circular No.28
August 19, 2013
ToAll Banks Authorised to Deal in Foreign Exchange
Madam/Sir,
Foreign Investments in Asset Reconstruction Companies (ARC)
Attention of Authorized Dealers is invited to the Foreign Exchange Management (Transfer or Issue of Security by a Person Resident outside India) Regulations, 2000 notified by the Reserve Bank of India videNotification No.20 dated 3rd May 2000as amended from time to time andA.P.(DIR Series) Circular N...
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FEMA |
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FCNR(B)/NRE deposits – exemption from maintenance of CRR/SLR
Posted Date : 19-Aug-2013 , 08:00:31 pm | Posted By: CASANSAAR
RBI/2013-14/190RPCD.CO.RRB/RCB.BC.No. 20 /03.05.33/2013-14
August 19, 2013
All Regional Rural Banks/Scheduled State Cooperative Banks
Dear Sir,
Section 42(1) of the Reserve Bank of India Act, 1934 and Section 24 of the Banking Regulation Act, 1949 – FCNR(B)/NRE deposits – exemption from maintenance of CRR/SLR
At present, banks are required to include all Foreign Currency Non-Resident Bank [FCNR (B)] and Non-Resident (External) Rupee (NRE) deposit liabilities for computa...
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CBDT constitutes DRP panels at specified jurisdictions
Posted Date : 18-Aug-2013 , 01:02:44 am | Posted By: Vinay Sharma
SECTION 144C OF THE INCOME-TAX ACT, 1961 - DISPUTE RESOLUTION PANEL (DRP) - REFERENCE TO - RECONSTITUTION OF DRP AT SPECIFIED AREAS OF JURISDICTION
ORDER NO. 1/FT&TR/2013 [F.NO.500/15/2011-FT&TR-I],DATED 13-8-2013
In exercise of powers conferred by clause (a) of sub-section (15) of Section 144C of the' Income-tax Act, 1961 [43 of 1961) r/w Income-tax (Dispute Resolution Panel) Rules, 2009, as amended by Notification No.33/2012 (F.No. 133/13/2012-SO(TPL)/SO1967(E), dated 24-8-2012, and...
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Income Tax |
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Norms for Spices under Advance Authorization
Posted Date : 18-Aug-2013 , 01:02:06 am | Posted By: Vinay Sharma
Government of India
Ministry of Commerce and Industry
Department of Commerce
Directorate General of Foreign Trade
Udyog Bhawan, New Delhi
Policy Circular No. 05 (RE- 2013) /2009-2014
Dated: 14thAugust, 2013
To
All Regional Authorities (RAs) of DGFT
Spices Board
All Commissioners of Customs
Members of Trade
Subject: Norms for Spices under Advance Authorization.
Reference: ALC Circular No. 04/2003 dated 21.11.2003 & ALC Circular No. 01/2004 dated 31.05.2004.
As per circulars cit...
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DGFT |
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Export Policy of Onions
Posted Date : 18-Aug-2013 , 01:01:32 am | Posted By: Vinay Sharma
(To be Published in the Gazette of India Extraordinary Part-II]
Section - 3, Sub-Section (ii)
Government of India
Ministry of Commerce & Industry
Department of Commerce
Udyog Bhawan
Notification No 35 (RE-2013)/2009-2014
New Delhi, Dated 14thAugust, 2013
Subject:- Export Policy of Onions.
S.O. (E) -In exercise of powers conferred bySection 5of theForeign Trade (Development& Regulation) Act, 1992 (No. 22 of 1992)read withPara 2.1of theForeign Trade Policy, 2009-2014, the Central ...
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DGFT |
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Rate of exchange of conversion of each of the foreign currency with effect from August 15, 2013
Posted Date : 18-Aug-2013 , 01:01:10 am | Posted By: Vinay Sharma
[TO BE PUBLISHED IN THE GAZETTE OF INDIA, PART-II, SECTION 3,
SUB-SECTION (ii), EXTRAORDINARY]
GOVERNMENT OF INDIA
MINISTRY OF FINANCE
DEPARTMENT OF REVENUE
CENTRAL BOARD OF EXCISE AND CUSTOMS
NOTIFICATION NO.83/2013-CUSTOMS (N.T.)
DATED THE 14thAugust, 2013
23 Shravana, 1935(SAKA)
S.O. (E). –In exercise of the powers conferred bysection 14of theCustoms Act, 1962 (52 of 1962),and in super session of thenotification of the Government of India in the Ministry of Finance (Department ...
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Custom |
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Exim Bank\'s Line of Credit to the Government of the Union of Comoros
Posted Date : 18-Aug-2013 , 12:59:31 am | Posted By: Vinay Sharma
RBI/2013-14/189A.P. (DIR Series) Circular No.27
August 16, 2013
To
All Category - I Authorised Dealer Banks
Madam / Sir,
Exim Bank's Line of Credit of USD 41.60 million tothe Government of the Union of Comoros
Export-Import Bank of India (Exim Bank) has entered into an Agreement dated February 22, 2013 with the Government of the Union of Comoros, for making available to the latter, a Line of Credit (LOC) of USD 41.60 million (USD Forty one million and six hundred thousand only) for financ...
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Deferred Payment Protocols between Government of India and erstwhile USSR
Posted Date : 18-Aug-2013 , 12:59:13 am | Posted By: Vinay Sharma
RBI/2013-14/188A.P. (DIR Series) Circular No.26
August 14, 2013
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.05 dated July 08, 2013, wherein the Rupee value of the Special Currency Basket was indicated as Rs.80.972091 effective from June 25, 2013.
2. AD Cate...
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RBI |
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Import of Gold by Nominated Banks /Agencies/Entities (Revised)
Posted Date : 18-Aug-2013 , 12:58:56 am | Posted By: Vinay Sharma
RBI/2013-14/187A.P. (DIR Series) Circular No. 25
August 14, 2013
To,
All Category - I Authorised Dealer Banks
All Scheduled Commercial Banks which are Authorised Dealers (ADs) inForeign Exchange/ All Agencies nominated for import of gold
Madam / Sir,
Import of Gold by Nominated Banks /Agencies/Entities
Attention of Authorised Persons is drawn to the Reserve Bank’sA.P. (DIR Series) Circular No. 15 dated July 22, 2013on the captioned subject. As per these instructions, certain restric...
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RBI |
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Deregulation of Interest Rates on Non-Resident (External) Rupee (NRE) Deposits
Posted Date : 18-Aug-2013 , 12:58:37 am | Posted By: Vinay Sharma
RBI/2013-14/186DBOD.Dir.BC. 40 /13.03.00/2013-14
August 14, 2013
All Scheduled Commercial Banks(Excluding RRBs)
Dear Sir / Madam,
Deregulation of Interest Rates on Non-Resident (External) Rupee (NRE) Deposits
Please refer to ourcircular DBOD.Dir.BC.64/13.03.00/2011-12 dated December 16, 2011on Deregulation of Interest Rates on Non-Resident (External) Rupee (NRE) Deposits and Ordinary Non- Resident (NRO) Accounts.
2. In terms of para 2 ibid, interest rates offered by banks on NRE deposits c...
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RBI |
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Interest Rates on FCNR(B) Deposits
Posted Date : 18-Aug-2013 , 12:58:17 am | Posted By: Vinay Sharma
RBI/ 2013-14/185DBOD.Dir.BC.38/13.03.00/2013-14
August 14 , 2013
All Scheduled Commercial Banks(excluding RRBs)
Dear Sir/Madam
Interest Rates on FCNR(B) Deposits
Please refer to ourcircular No.DBOD.Dir.BC.102/13.03.00/2011-12 dated May 4, 2012on Interest Rates on Deposits held in FCNR(B) Accounts. In view of the prevailing market conditions, it has been decided that until further notice and with effect from the close of business in India as on August 14, 2013, the interest rate ceiling on F...
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RBI |
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FCNR(B)/NRE Deposits - Exemption from Maintenance of CRR/SLR and exclusion from ANBC for Priority Sector Lending
Posted Date : 18-Aug-2013 , 12:57:58 am | Posted By: Vinay Sharma
RBI/2013-14/184Ref: DBOD.No.Ret.BC. 36/12.01.001/2013-14
August 14, 2013
All Scheduled Commercial Banks(Excluding Regional Rural Banks)
Dear Sir,
Section 42(1) of the Reserve Bank of India Act, 1934 and Section 24 of the Banking Regulation Act, 1949 - FCNR(B)/NRE deposits - exemption from maintenance of CRR/SLR and exclusion from ANBC for Priority Sector Lending
At present, banks are required to include all Foreign Currency Non-Resident Bank [FCNR (B)] and Non-Resident (External) Rupee (NRE...
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RBI |
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Clean Note Policy
Posted Date : 18-Aug-2013 , 12:57:37 am | Posted By: Vinay Sharma
RBI/2013-14/183DCM (NPD) No. G-11 /09.39.000 /2013-14
August 14, 2013
The Chairman and Managing Director / The Chief Executive OfficerAll Banks (including Co-operative banks and RRBs)
Madam / Dear Sir,
Clean Note Policy
Please refer Bank’s directive videDBOD No. Dir. BC. 43/13.03.00/2001-02 dated November 07, 2001andcircular DCM (NPD) No. 5133/09.39.000/2012-13 dated May 10, 2013on the captioned subject.
2. It has been noticed that at certain branches of banks, the practice of writin...
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Implementation of Section 51-A of UAPA, 1967- Updates of the UNSCR 1267(1999) / 1989(2011) Committee\'s Al Qaida Sanctions List and Consolidated List
Posted Date : 18-Aug-2013 , 12:57:20 am | Posted By: Vinay Sharma
RBI/2013-14/182DBOD. AML.No. 2406/14.06.001/2013-14
August 14, 2013
The Chairmen / CEOs of all Scheduled Commercial Banks (Excluding RRBs)/Local Area Banks / All India Financial Institutions
Dear Sir,
Implementation of Section 51-A of UAPA, 1967- Updates of the UNSCR 1267(1999) / 1989(2011) Committee's Al Qaida Sanctions List and Consolidated List
Please refer to ourcircular DBOD. AML No. 14982/14.06.001/2012-13 dated April 17, 2013on the captioned subject. We have since received from Gove...
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RBI |
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Exemption u/s 35(1)(ii) - Approved Scientific Research Associations/Institutions - Centre for Development of Telematics (C-DOT), New Delhi
Posted Date : 14-Aug-2013 , 06:27:03 pm | Posted By: Vinay Sharma
[TO BE PUBLISHED IN THE GAZETTE OF INDIA, EXTRAORDINARY PART II,
SECTION 3, SUB-SECTION (ii)]
GOVERNMENT OF INDIA
MINISTRY OF FINANCE
DEPARTMENT OF REVENUE
CENTRAL BOARD OF DIRECT TAXES
NOTIFICATION NO. 62/2013
DATED 13-8-2013
It is hereby notified for general information that the organization "Centre for Development of Telematics (C-DOT), New Delhi (PAN-AAATC3895K) has been approved by the Central Government for the purpose ofclause (ii) of sub-section (1) of section 35of theIncome-tax...
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Income Tax |
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Amendment in the policy for import of Ammonium Nitrate
Posted Date : 14-Aug-2013 , 06:26:24 pm | Posted By: Vinay Sharma
To be Published in the Gazette of India Extraordinary
Part-II, Section - 3, Sub-Section (ii)
Government of India
Ministry of Commerce & Industry
Department of Commerce
Udyog Bhawan
Notification No. 34 (RE–2013)/2009-2014
New Delhi, Dated 14thAugust, 2013
Subject: Amendment in the policy for import of Ammonium Nitrate.
S.O.(E)- In exercise of powers conferred bySection 5of theForeign Trade (Development & Regulation) Act, 1992 (No. 22 of 1992), read withparagraph 2.1of theFo...
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DGFT |
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Liberalised Remittance Scheme for Resident Individuals- Reduction of limit from USD 200,000 to USD 75,000
Posted Date : 14-Aug-2013 , 06:25:22 pm | Posted By: Vinay Sharma
RBI/2013-14/181A. P. (DIR Series) Circular No.24
August 14, 2013
To
All Category-I Authorised Dealer Banks
Madam / Sir,
Liberalised Remittance Scheme for Resident Individuals- Reduction of limit from USD 200,000 to USD 75,000
Attention of Authorised Dealer Category - I (AD Category - I) banks is invited to the guidelines regarding the Liberalised Remittance Scheme (LRS) for Resident Individuals (the Scheme).
2. On a review of the scheme, it has now been decided to reduce the existing limi...
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RBI |
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Overseas Direct Investments
Posted Date : 14-Aug-2013 , 06:24:58 pm | Posted By: Vinay Sharma
RBI/2013-14/180A. P. (DIR Series) Circular No.23
August 14, 2013
To
All Category-I Authorised Dealer Banks
Madam / Sir,
Overseas Direct Investments
Attention of Authorised Dealer Category - I (AD Category - I) banks is invited to theNotification No. FEMA.120/RB-2004 dated July 7, 2004, [Foreign Exchange Management (Transfer or Issue of Any Foreign Security) Regulations, 2004], as amended from time to time (the Notification) and theA.P. (DIR Series) Circular No. 11 dated September 26, 2007;...
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FEMA |
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Distribution of Banknotes and Coins - Review of Incentives and Penalties
Posted Date : 14-Aug-2013 , 06:24:21 pm | Posted By: Vinay Sharma
RBI/2013-2014/179DCM (CC) No. G- 10/03.39.01/2013-14
August 12, 2013
The Chairman & Managing Directors /Chief Executive OfficersAll Scheduled Commercial banks(Including RRBs and UCBs)
Dear Sir/Madam
Distribution of Banknotes and Coins - Review of Incentives and Penalties
Please refer to paragraph 109 of the Monetary Policy Statement 2013-14 announced on May 03, 2013 (extract enclosed). In this connection, a reference is invited to theMaster Circular DCM (CC) No. G – 3/03.39.01/ 20...
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RBI |
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QFIs can invest in \'to be listed\' debt securities; delay in listing would trigger its sale - SEBI clarifies
Posted Date : 14-Aug-2013 , 06:17:57 pm | Posted By: Vinay Sharma
INVESTMENT BY QUALIFIED FOREIGN INVESTORS (QFIs) IN "TO BE LISTED" INDIAN CORPORATE DEBT SECURITIES
CIRCULAR NO. IMD/FIIC/13/2013,DATED 13-8-2013
1.
Vide SEBI circularIMD/FII&C/17/2012 dated July 18, 2012, QFIs had been allowed to invest in listed/to be listed Indian corporate debt securities through public issues and units of debt schemes of Indian mutual funds.
2.
Based on the feedback received from market participants, with a view to align the eligibility criteria for...
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SEBI |
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CBEC releases FAQs on Service Tax Amnesty Scheme
Posted Date : 14-Aug-2013 , 06:15:06 pm | Posted By: Vinay Sharma
...
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Service Tax |
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Regarding amendment of notification No. 12/2012-Customs dated 17 march 2012
Posted Date : 14-Aug-2013 , 11:44:22 am | Posted By: Vinay Sharma
[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. 41/2013-Customs
New Delhi, the 13thAugust, 2013
G.S.R.(E). - In exercise of the powers conferred by sub-section (1) of section25 of the Customs Act, 1962 (52 of 1962),the Central Government, on being satisfied that it is necessary in the public interest so to do, hereby makes the following further amendments in the n...
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Custom |
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Export of Finished Leather, Wet Blue and EI Tanned Leather to be permitted through the notified port
Posted Date : 14-Aug-2013 , 11:43:34 am | Posted By: Vinay Sharma
To be published in the Gazette of India Extraordinary Part-I, Section-I
Government of India
Ministry of Commerce and Industry
Department of Commerce
Directorate General of Foreign Trade
Public Notice No. 23 (RE-2013) / 2009-14
New Delhi: the 13thAugust, 2013
Subject: Export of Finished Leather, Wet Blue and EI Tanned Leather to be permitted through the notified port.
In exercise of the powers conferred underParagraph 2.4of theForeign Trade Policy, 2009-14,as amended from time to time, Di...
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DGFT |
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Sum paid for compounding of FEMA violations to be refunded via NEFT if compounding couldn\'t be proceeded with
Posted Date : 14-Aug-2013 , 11:31:17 am | Posted By: Vinay Sharma
FOREIGN EXCHANGE (COMPOUNDING PROCEEDINGS) RULES, 2000 - COMPOUNDING OF CONTRAVENTIONS UNDER FEMA, 1999
A.P. (DIR SERIES 2013-14) CIRCULAR NO. 20,DATED 12-8-2013
Attention of Authorised Dealers (ADs) and their constituents is invited to paragraph 7.2 ofA.P. (DIR Series) Circular No. 56 dated June 28, 2010wherein they were advised to ensure that the applications for compounding are submitted only after the transactions are complete and all the requisite approvals are in place. Of late, we have ...
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FEMA |
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SEBI Meet: Illegal mobilization of funds by unregistered entities held as fraudulent and unfair trade practice
Posted Date : 14-Aug-2013 , 11:28:45 am | Posted By: Vinay Sharma
SEBI BOARD MEETING - CLARIFICATORY AMENDMENT TO THE SEBI (PROHIBITION OF FRAUDULENT AND UNFAIR TRADE PRACTICES RELATING TO SECURITIES MARKETS) REGULATIONS, 2003; SECURITIES LAWS (AMENDMENT) ORDINANCE, 2013 AND INDEPENDENT CONSULTANT
PRESS RELEASE NO. 73/2013,DATED 12-8-2013
The SEBI Board met in Mumbai today and took the following decisions:
1. Amendment to the SEBI (Prohibition of Fraudulent and Unfair Trade Practices relating to Securities Market) Regulations, 2003 - Illegal mobilization of...
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SEBI |
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Special Economic Zones (Amendment) Rules, 2013 - Amendment In Rules 5, 11 & 19 and Insertion Of Rule 74A & Annexure IVA
Posted Date : 14-Aug-2013 , 11:28:26 am | Posted By: Vinay Sharma
SPECIAL ECONOMIC ZONES (AMENDMENT) RULES, 2013 - AMENDMENT IN RULES 5, 11 & 19 AND INSERTION OF RULE 74A & ANNEXURE IVA
NOTIFICATION [F.NO.C.2/1/2013-SEZ],DATED 12-8-2013
In exercise of the powers conferred by section 55 of the Special Economic Zones Act, 2005(28 of 2005), the Central Government hereby makes the following rules further to amend the Special Economic Zones Rules, 2006, namely:—
1.(1) These rules may be called the Special Economic Zones (Amendment) Rules, 2013.
(2...
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Income Tax |
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Exim Bank\'s Line of Credit to the Government of the Federal Democratic Republic of Ethiopia
Posted Date : 13-Aug-2013 , 12:32:34 pm | Posted By: Vinay Sharma
RBI/2013-14/178A.P. (DIR Series) Circular No. 22
August 12, 2013
To,
All Category - I Authorised Dealer Banks
Madam / Sir,
Exim Bank's Line of Credit of USD 300 million to theGovernment of the Federal Democratic Republic of Ethiopia
Export-Import Bank of India (Exim Bank) has entered into an Agreement dated June 13, 2013 with the Government of the Federal Democratic Republic of Ethiopia, for making available to the latter, a Line of Credit (LOC) of USD 300 million (USD Three hundred milli...
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FEMA |
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