RBI/2013-14/351FMD.MOAG. No. 93/01.18.001/2013-14 October 31, 2013 All Scheduled Commercial Banks (excluding RRBs) Madam / Sir, Marginal Standing Facility-Revision in timings As announced in theSecond Quarter Review of the Monetary Policy 2013-14on October 29, 2013, it has been decided to revise the timings of Marginal Standing Facility (MSF). The MSF will now be available between 7.00 pm and 7.30 pm instead of the existing timings of 4.45 pm to 5.15 pm. The change in timings will take effe...

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Due to heavy rish on online e-filing and on demand by the trading community the date of e-filing of returns for the second quarter i.e. 01-07-2013 to 30-09-2013 is extended upto 5th November 2013....

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Its is clarified that the enhanced limit for Audit from Rs.50 Lakh to Rs.1 Crore will be applicable for the Year 2012-13 for which VAT-20 is to be file by 20.11.2013...

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RBI/2013-14/343MPD. No.BC. 370/07.01.279/2013-14 October 29, 2013 ToAll Scheduled Banks [excluding Regional Rural Banks(RRBs) ]and Primary Dealers Dear Sir/Madam, Standing Liquidity Facilities forBanks and Primary Dealers Please refer to theSecond Quarter Review of Monetary Policy Statement 2013-14 dated October 29, 2013, in terms of which the repo rate under the Liquidity Adjustment Facility (LAF) has been increased by 25 basis points from 7.50 per cent to 7.75 per cent with immediate effe...

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RBI/2013-14/342DBOD.AML.BC.No.63/14.01.001/2013-14 October 29, 2013 The Chairmen / Chief Executive Officers ofAll Scheduled Commercial Banks (excluding Regional Rural Banks) Dear Sir, Due diligence in correspondent banking relationship. Please refer toparagraph 2.16of our Master Circular DBOD. AML.BC.24/14.01.001/2012-13 dated July 1, 2013 on ‘Know Your Customer (KYC) Norms / Anti-Money Laundering (AML) Standards/ Combating of Financing of Terrorism (CFT) / Obligation of banks under P...

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RBI/2013-14/340FMD.MOAG. No. 91/01.18.001/2013-14 October 29, 2013 All Scheduled Commercial Banks (excluding RRBs) Madam / Sir, Marginal Standing Facility Rates As announced today in theSecond Quarter Review of the Monetary Policy 2013-14, it has been decided to reduce the Marginal Standing Facility (MSF) rate by 25 basis points from 9.00 percent to8.75 per centwith immediate effect. 2. Consequent to this change, Marginal Standing Facility (MSF) rate is recalibrated to 100 basis points abo...

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RBI/2013-14/339FMD.MOAG. No. 90/01.01.001/2013-14 October 29, 2013 All Scheduled Commercial Banks (excluding RRBs) and Standalone Primary Dealers Madam / Sir, Liquidity Adjustment Facility – Repo and Reverse Repo Rates As announced today in theSecond Quarter Review of the Monetary Policy 2013-14, it has been decided to increase the Repo rate under the Liquidity Adjustment Facility (LAF) by 25 basis points from 7.50 per cent to7.75 per centwith immediate effect. 2. Consequent to the c...

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GOVERNMENT OF NATIONAL CAPITALTERRITORYOF DELHI DEPARTMENTOF TRADE& TAXES Attention-All Registered VATDealers– Last date for Mismatch extended The Department intends to frame theassessmentof all registereddealersfor the third andfourth Quarter2012-13 tax-periods onthe basisof mismatch in the online data as on 31/10/2013 filed by thedealersin Annexure 2A and 2B of their return. Alldealersare hereby requestedto checkthe statusof matching of purchase data filed by them with th...

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RBI/2013-14/336UBD.CO.LS.(PCB).Cir.No. 30/07.01.000/2013-14 October 15, 2013 Chief Executive Officers ofall Primary (Urban) Co-operative Banks Dear Sir/ Madam, Section 23 of B. R. Act, 1949 (AACS) - Authorization for Specialized Branches – Central Processing Centres (CPCs) / Retail Assets Processing Centres etc. We have of late been receiving requests from banks for setting up of Specialized Branches like Central Processing Centres (CPCs)/ Retail Assets Processing Centres/ Regional/ Z...

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RBI/2013-14/335RPCD.CO.RRB.BC.No. 45/03.05.33/2013-14 October 24, 2013 The ChairmenAll Regional Rural Banks Dear Sir, Sharing of Information Technology Resources by Banks - Guidelines Please refer toparagraph 101of the Monetary Policy Statement 2013-14 wherein the need for banks to examine the issue of shared IT resources to optimise costs while maintaining the desired levels of efficiency and security has been emphasised. 2. One of the pre-requisites for a bank to consume shared IT resour...

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F.No. 225/117/2013/ITA.II Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes Dated- 24th October, 2013 Order under Section 119 of the Income-tax Act. 1961. In exercise of powers conferred under section 119 of the Income-tax 1961, the Central Board of Direct Taxes, in continuation to order u/s 119 dated 26.09.2013 in F.No. 225/117/2013/1TA.II, hereby directs that in cases where the 'due date' of furnishing reports of audit and corresponding ...

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RBI/2013-14/334DBOD.NO.PSBD.BC.62/16.13.100/ 2013-14 October 23, 2013 All Private Sector Banks Dear Sir, Amendments to Banking Regulation Act 1949 -- Banking Laws(Amendment) Act 2012 - Applicability to private sector banks As you are aware, the Government of India, Ministry of Finance, notified the Banking Law Amendments Act, 2012, vide Gazette Notification dated January 17, 2013, (published in Part II- Section 3--sub-section (ii) of the Gazette of India No.177 dated January 18, 2...

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Government of IndiaMinistry of Finance(Department of Revenue) Notification No. 14/2013-Service Tax New Delhi, 22ndOctober, 2013 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 amendments in the notification of the Government of India in the Ministry of Finance (Department of Revenue), N...

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RBI/2013-14/330DBOD.No.BAPD.BC. 60/22.01.001/2013-14 October 21, 2013 All Domestic Scheduled Commercial Banks(excluding RRBs) Madam / Dear Sir Section 23 of the Banking Regulation Act, 1949 –Relaxations in Branch Authorisation Policy Please refer to circularDBOD.No.BAPD.BC.54/22.01.001/2013-14 dated September 19, 2013, on the above subject, advising that domestic scheduled commercial banks (other than RRBs) are permitted to open branches in Tier 1 to Tier 6 centres without having the ...

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RBI/2013-14/329DGBA.CDD. No. 2319/15.01.001/2013-14 October 09, 2013 The Chairman & Managing DirectorHead Office (Government Accounts Department)State Bank of India and its Associates/Allahabad Bank /Bank of Baroda /Bank of India /Bank of Maharashtra/Canara Bank /Central Bank of India /Corporation Bank /Dena Bank /Indian Bank/Indian Overseas Bank/Oriental Bank of Commerce /Punjab National Bank /Syndicate Bank /UCO Bank /Union Bank of India /United Bank of India Dear Sir/Madam, Special De...

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Circular No. 41/2013-Customs F.No.354/58/2013-TRU Government of India Ministry of Finance Department of Revenue Tax Research Unit *** R.No.146 I, North Block New Delhi, dated the 21stOctober, 2013 To The Chief Commissioner of Customs (All) The Chief Commissioner of Customs & Central Excise (All) The Director General (All) Sir/Madam, Subject:Applicable CVD on Steam Coal imported from Indonesia under FTA notification No. 46/2011-Customs-reg. I am directed to invite your at...

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RBI/2013-14/327UBD CO BPD No.31/09.18.300/2013-14 October 17, 2013 The Chief Executive OfficerAll Primary (Urban) Co-operative Banks Dear Sir / Madam, Sharing of Information Technology Resources by banks – guidelines As announced in the Monetary Policy Statement 2013-14 (paragraph 101), with the increased use of information technology (IT) infrastructure by banks, there is a need to examine the issue of shared IT resources in order to optimise costs while maintaining the desir...

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RBI/2013-14/326DBOD.BP.BC.No.59/21.06.007/2013-14 October 17, 2013 The Chairman and Managing Director/The Chief Executive OfficerAll Scheduled Commercial Banks(Excluding Local Area Banks and Regional Rural Banks) Dear Sir, Change of Name of SME Rating Agency of India Limited toSMERA Ratings Limited (SMERA) Please refer to theMaster Circular No. DBOD.No.BP.BC.9/21.06.001/2012-13 dated July 1, 2013on 'Prudential Guidelines on Capital Adequacy and Market Discipline - New Capital Adequac...

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RBI/2013-14/325A.P. (DIR Series) Circular No. 62 October 14, 2013 To All Category - I Authorised Dealer Banks Madam / Sir, Closing of Old Outstanding Bills:Export-Follow-up –XOS Statements Attention of Authorized Dealer Category – I (AD Category – I) banks is invited toA. P. (DIR Series) Circular No. 12 dated September 9, 2000in terms of which AD Category – I banks are required to furnish to the Regional Office concerned of the Reserve Bank, a consolidated statement...

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The Dep.artment of Trade & Taxes, Government of NCT of Delhi vide notificationdated 11th February, 2013 under Section 49 of the Delhi Value Added Tax Act, 2004 and Rule 42 A of the VAT Rules, 2005 has made the VAT Audit by Chartered Accountants mandatoryfor dealers With gross turnover of Rs.10 Crore and above in 2011-12 or in any of the subsequent financial year. The Department has prescribed a comprehensive VAT Audit Report AR1 for this purpose. This provision is being implemented for the f...

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Reference is invited to Circular No.08/2012 dated 05.10.2012 whereby the rates ofdeduction of income-tax from the payment of income under the head "Salaries" underSection 192 of the Income-tax Act, 1961(hereinafter ‘the Act’), during the financial year2012-2013, were intimated. The present Circular contains the rates of deduction of income-taxfrom the payment of income chargeable under the head "Salaries" during the financial year2013-2014 and explains certain related provisions ...

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RBI/2013-14/324DPSS (CO) RTGS No.801/04.04.017/2013-14 October 11, 2013 The Chairperson / Chief Executive OfficerRTGS Members Madam / Dear Sir, Launch of new RTGS System Please refer to ourCircular RBI/2012-13/355 [DPSS (CO) RTGS No.1052/04.04.017/2012-13 dated December 31, 2012] regarding implementation of new RTGS System conforming to ISO 20022 messaging standard. 2. The new RTGS system will be operationalized onOctober 19, 2013and the “RTGS System Regulations 2013&rdqu...

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RBI/2013-14/323A.P. (DIR Series) Circular No. 61 October 10, 2013 ToAll Category - I Authorised Dealer Banks Madam / Sir, Overseas Foreign Currency Borrowings by Authorised Dealer Banks Attention of Authorised Dealer Category I banks is invited to Regulation no. (4)(2)(i) ofNotification No. FEMA 3/RB-2000 dated May 3, 2000as amended from time to time and A.P.(DIR Series) circular no. 23 dated October 15, 2008 in terms of which, inter alia, AD Category - I banks may borrow funds from their H...

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RBI/2013-14/322DCM (Plg) No. G - 14/10.65.03/2013-14 October 10, 2013 The Chairman & Managing Director /Chief Executive Officer(All Scheduled Commercial banks including RRBs) Madam/ Dear Sir, Monetary Policy Statement for 2013-14-Distribution of Banknotes and Coins – Alternative Avenues Please refer toPara 110of the Monetary Policy Statement 2013-14 wherein it was stated that “With a view to effectively meeting the growing demand for banknotes and coins in the country, there...

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RBI/2013-14/321UBD CO BPD (PCB) Cir. No.29/13.05.000/2013-14 October 10, 2013 The Chief Executive OfficersAll Primary (Urban) Co-operative Banks Dear Sir / Madam, Unsecured Exposure Norms for UCBs Please refer to ourcircular UBD BPD (PCB) Cir. No.45/13.05.000/2012-13 dated April 03, 2013on the captioned subject exempting UCBs fulfilling certain conditions from the extant ceiling of 10% of total assets for unsecured loans and advances and permitting them to grant, with the prior approval of ...

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Circular No. 40/2013-Customs F.No.605/32/2013-DBK Government of India Ministry of Finance, Department of Revenue Central Board of Excise & Customs Drawback Division New Delhi, dated the 9thOctober, 2013 To Chief Commissioners of Customs / Customs (Prev) (All), Chief Commissioners of Central Excise & Customs (All) Directors General of CBEC / Chief Commissioner (AR), CESTAT (All) Commissioners of Customs / Customs (Prev)/ Customs & Central Excise (All) Commissioners of Cust...

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RBI/2013-14/320RPCD.CO.RCB.BC.No.43/07.51.013/2013-14 October 8, 2013 The ChairmanAll State and Central Co-operative Banks (StCBs and CCBs) Dear Sir, Housing Sector: Innovative Housing Loan Products – Upfront disbursal of housing loans It has been observed that some banks have introduced certain innovative Housing Loan Schemes in association with developers/builders, e.g. upfront disbursal of sanctioned individual housing loans to the builders without linking the disbursals to various...

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RBI/2013-14/319FMD.MOAG. No. 89 /01.01.009/2013-14 October 08, 2013 All Scheduled Commercial Banks (excluding RRBs) Madam / Sir, Term Repo under Liquidity Adjustment Facility As announced yesterday, it has been decided to conduct auctions for term repos of 7-day and 14-day tenor for a notified amount equivalent to 0.25 per cent of net demand and time liabilities (NDTL) of the banking system through variable rate auction mechanism. The first term repo auction with a tenor of seven days would...

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RBI/2013-14/318UBD CO BPD (PCB) MC. No.18/09.09.001/2013-14 October 8, 2013 The Chief Executive OfficerAll Primary (Urban) Co-operative Banks Dear Sir / Madam, Revised guidelines on lending to Priority Sector for UCBs Please refer to our circularUBD PCB Cir. No.11/09.09.01/2007-08 dated August 30, 2007and the amendments thereto issued from time to time on the captioned subject, consolidated inMaster Circular UBD BPD (PCB) MC No.7/09.09.001/ 2012-13 dated July 02, 2012. It may be recalled th...

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