Prudential Guidelines on Capital Adequacy and Market Discipline - RBI
Posted Date : 28-Jan-2021 , 09:26:45 am | Posted By: CASANSAAR
RBI/2020-21/86
DOR.No.CRE.BC.33/21.06.007/2020-21
January 27, 2021
All Scheduled Commercial Banks
(Excluding Payment Banks, Local Area Banks and Regional Rural Banks)
Dear Sir/Madam,
Prudential Guidelines on Capital Adequacy and Market Discipline - New Capital Adequacy Framework (NCAF) - Eligible Credit Rating Agencies – CRISIL Ratings Limited
Please refer to theMaster Circular DBR.No.BP.BC.4./21.06.001/2015-16 dated July 1, 2015on 'Prudential Guidelines on Capital Ade...
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RBI |
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Withdrawal of circulars - on Recovery of excess pension made to pensioners
Posted Date : 23-Jan-2021 , 10:48:58 am | Posted By: CASANSAAR
RBI/2020-21/84
DGBA.GBD.No.SUO 546/45.01.001/2020-21
January 21, 2021
The Chairman / Chief Executive Officer
All Agency Banks
Dear Sir,
Withdrawal of circulars - on Recovery of excess pension made to pensioners
It has been brought to the notice of RBI that the recovery of excess /wrong pension payments from the pensioners are being made in a manner that is not in keeping with the extant gui...
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RBI |
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Extension of the validity of the registration certificates issued under the Foreign Contribution (Regulation) Act
Posted Date : 18-Jan-2021 , 09:24:44 am | Posted By: CASANSAAR
Government of India
Ministry of Home Affairs
Foreigners Division (FCRA)
First Floor, Major Dhyan Chand National Stadium
India Gate Circle, New Delhi-110001
Dated: 12th January, 2021
PUBLIC NOTICE
Subject: Extension of the validity of the registration certificates issued under the Foreign Contribution (Regulation) Act, 2010 expiring during the period between 29th September, 2020 and 31st May, 2021 upto 31st May, 2021.
The Ministry of Home Affairs is mandated to administer the Fore...
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FEMA |
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Clarification on spending of CSR funds for Awareness & public outreach on COVID-19 Vaccination programme
Posted Date : 14-Jan-2021 , 09:01:51 am | Posted By: CASANSAAR
Clarification on spending of CSR funds for Awareness and public outreach on COVID-19 Vaccination programme...
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Companies Act |
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CBIC amends Jurisdiction of Commissioner Appeals for New Delhi & Mumbai
Posted Date : 14-Jan-2021 , 09:00:01 am | Posted By: CASANSAAR
G.S.R.(E). -In exercise of the powers conferred under section 3 read with section 5 of the Central Goods and Services Tax Act, 2017 (12 of 2017) and section 3 of the Integrated Goods and Services Tax Act, 2017 (13 of 2017), the Government, hereby makes the following notification further to amend the notification of the Government of India, Ministry of Finance, Department of Revenue No. 2/2017-Central Tax, dated the 19 th June, 2017, published in the Gazette of India, Extraordinary, Part II, Sect...
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GST |
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CBDT rejects all representations for Extension of Due Dates
Posted Date : 12-Jan-2021 , 08:05:03 am | Posted By: CASANSAAR
The Hon'ble Gujarat High Court vide judgement dated 8 th January, 2021 in the case of The All India Gujarat Federation of Tax Consultants Vs. Union of India, SCA 13653 of 2020, has directed the Ministry of Finance to look into the issue of extension of due dates for filing of Audit Report under section 44AB of the Income tax Act more particularly the representation dated 12.10.2020 and take an appropriate decision in accordance with law....
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CBDT |
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Risk Based Internal Audit (RBIA) Framework – Strengthening Governance arrangements
Posted Date : 08-Jan-2021 , 07:51:32 am | Posted By: CASANSAAR
RBI/2020-21/83
Ref.No.DoS.CO.PPG./SEC.04/11.01.005/2020-21
January 07, 2021
The Chairman / Managing Director / Chief Executive Officer
All Scheduled Commercial Banks (Excluding RRBs)
All Local Area Banks
All Small Finance Banks and
All Payments Banks
Madam / Dear Sir,
Risk Based Internal Audit (RBIA) Framework – Strengthening Governance arrangements
In terms of the Guidance Note on Risk-Based Internal Audit issued by RBI videcircular DBS.CO.PP.BC.10/11.01.005/2002-03 da...
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RBI |
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Operationalisation of Payments Infrastructure Development Fund (PIDF) Scheme
Posted Date : 06-Jan-2021 , 07:59:45 am | Posted By: CASANSAAR
RBI/2020-21/81
DPSS.CO.AD No.900/02.29.005/2020-21
January 05, 2021
The Chairman / Managing Director / Chief Executive Officer
Card Issuing and Acquiring Banks and Non-banks / Authorised Card Networks
Madam / Dear Sir,
Operationalisation of Payments Infrastructure Development Fund (PIDF) Scheme
Please refer to theStatement on Developmental and Regulatory Policies dated October 4, 2019and th...
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RBI |
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Introduction of Legal Entity Identifier for Large Value Transactions in Centralised Payment Systems
Posted Date : 06-Jan-2021 , 07:58:39 am | Posted By: CASANSAAR
RBI/2020-21/82
DPSS.CO.OD No.901/06.24.001/2020-21
January 05, 2021
The Chairman / Managing Director / Chief Executive Officer
of member banks participating in RTGS / NEFT
Madam / Dear Sir,
Introduction of Legal Entity Identifier for Large Value Transactions in Centralised Payment Systems
The Legal Entity Identifier (LEI) is a 20-digit number used to uniquely identify parties to financial t...
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RBI |
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Central Goods and Services Tax (Fourteenth Amendment) Rules, 2020
Posted Date : 24-Dec-2020 , 09:32:37 am | Posted By: CASANSAAR
G.S.R……(E). - In exercise of the powers conferred by section 164 of the Central Goods and Services Tax Act, 2017 (12 of 2017), the Central Government, on the recommendations of the Council, hereby makes the following rules further to amend the Central Goods and Services Tax Rules, 2017, namely: -
1. Short title and commencement. - (1) These rules may be called the Central Goods and Services Tax (Fourteenth Amendment) Rules, 2020...
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GST |
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Waiver of late fee for FORM GSTR-4 filing in UT of Ladakh for FY 2019-20
Posted Date : 24-Dec-2020 , 09:30:40 am | Posted By: CASANSAAR
G.S.R.....(E).— In exercise of the powers conferred by section 128 of the Central Goods and Services Tax Act, 2017 (12 of 2017) (hereafter in this notification referred to as the said Act), read with section 148 of the said Act, the Government, on the recommendations of the Council, hereby makes the following further amendments in the notification of the Government of India in the Ministry of Finance (Department of Revenue), No. 73/2017– Central Tax, dated the 29th December, 2017, pu...
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GST |
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Govt notifies 9 Sections of Finance Act, 2020 wef 1st January 2021
Posted Date : 24-Dec-2020 , 09:28:42 am | Posted By: CASANSAAR
S.O. ...... (E).— In exercise of the powers conferred by sub-section (2) of section 1 of the Finance Act, 2020 (12 of 2020) (hereinafter referred to as the said Act), the Central Government hereby appoints the 1st day of January, 2021, as the date on which the provisions of sections 119, 120, 121, 122, 123, 124, 126, 127 and 131 of the said Act shall come into force....
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GST |
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MCA deffers Applicability of CARO 2020 to FY 2021-22
Posted Date : 20-Dec-2020 , 10:23:49 am | Posted By: CASANSAAR
MINISTRY OF CORPORATE AFFAIRS
ORDER
New Delhi, the 17th December, 2020
S.O. 4588(E).— In exercise of the powers conferred by sub-section (11) of section 143 of the Companies Act, 2013 (18 of 2013), the Central Government hereby makes the following Order further to amend the Companies (Auditor’s Report) Order, 2020, namely:-
1. Short title, application and commencement. – (1) This Order may be called the Companies (Auditor’s Report) Second Amendment Order, 2020.
...
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Corporate Laws |
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Amendment to Master Direction (MD) on KYC – Centralized KYC Registry
Posted Date : 19-Dec-2020 , 08:25:58 am | Posted By: CASANSAAR
RBI/2020-21/80
DOR.AML.BC.No.31/14.01.001/2020-21
December 18, 2020
The Chairpersons/ CEOs of all the Regulated Entities
Dear Sir/Madam,
Amendment to Master Direction (MD) on KYC – Centralized KYC Registry – Roll out of Legal Entity Template & other changes
Regulated Entities (REs) have been uploading the KYC data pertaining to all individual accounts opened on or after January 1, 2017 on to CKYCR in terms of the provisions of the Prevention of Money Laundering (M...
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RBI |
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Waiver from recording of UIN on the invoices for the months of April 2020 to March 2021
Posted Date : 16-Dec-2020 , 09:17:50 am | Posted By: CASANSAAR
Vide Circular No.63/37/2018-GST dated 14th September, 2018 & corrigendum to the said circular dated 6th September 2019, waiver from recording of UIN on the invoices issued by retailers/other suppliers were given to UIN entities till March,2020.
2. It has been bought to the notice of the Board that the issue of non-recording of UINs has continued even after 31st March,2020. Therefore, it has been decided to give waiver from recording of UIN on the invoices issued by the retailers/suppliers...
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GST |
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Opening of Current Accounts by Banks - Need for Discipline
Posted Date : 15-Dec-2020 , 08:56:23 am | Posted By: CASANSAAR
RBI/2020-21/79
DOR.No.BP.BC.30/21.04.048/2020-21
December 14, 2020
All Scheduled Commercial Banks
All Payments Banks
Madam / Dear Sir,
Opening of Current Accounts by Banks - Need for Discipline
Please refer to thecirculars DOR.No.BP.BC/7/21.04.048/2020-21 dated August 6, 2020andDOR.No.BP.BC.27/21.04.048/2020-21 dated November 2, 2020on the captioned subject. On a review, it has been decided to permit banks to open specific accounts which are stipulated under various statutes and...
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RBI |
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Regional Rural Banks - Access to Call/Notice/Term Money Market
Posted Date : 05-Dec-2020 , 10:08:50 am | Posted By: CASANSAAR
RBI/2020-21/78
FMRD.DIRD.01/14.01.001/2020-21
December 04, 2020
All Eligible Market Participants
Madam/Sir,
Regional Rural Banks- Access to Call/Notice/Term Money Market
A reference is invited to theStatement of Developmental and Regulatory Policies dated December 4, 2020wherein it was announced that Regional Rural Banks (RRBs) shall be permitted to participate in the call/notice/term money market.
2. Accordingly, RRBs shall be permitted to participate in the call/notice and t...
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RBI |
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External Trade– Facilitation- Export of Goods and Services
Posted Date : 05-Dec-2020 , 10:07:51 am | Posted By: CASANSAAR
RBI/2020-21/77
A.P. (DIR Series) Circular No. 08
December 04, 2020
To,
All Category - I Authorised Dealer Banks
Madam / Sir,
External Trade – Facilitation - Export of Goods and Services
Please refer to theStatement on Development and Regulatory Polices announced as part of Bi-monthly Monetary Policy Statement dated December 4, 2020. With a view to further enhance the ease of doing bus...
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Category :
FEMA |
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Introduction of Liquidity Adjustment Facility (LAF) and Marginal Standing Facility (MSF) for Regional Rural Banks (RRBs)
Posted Date : 05-Dec-2020 , 10:07:09 am | Posted By: CASANSAAR
RBI/2020-21/76
DOR.RRB.No.28/31.01.001/2020-21
December 4, 2020
All Regional Rural Banks
Madam/ Sir,
Introduction of Liquidity Adjustment Facility (LAF) and Marginal Standing Facility (MSF) for Regional Rural Banks (RRBs)
In order to provide an additional avenue for liquidity management to Regional Rural Banks (RRBs), it has been decided that Liquidity Adjustment Facility (LAF) and Marginal Standing Facility (MSF) will be extended to Scheduled RRBs meeting the following criteria:...
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RBI |
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Declaration of dividends by banks - RBI
Posted Date : 05-Dec-2020 , 10:06:28 am | Posted By: CASANSAAR
RBI/2020-21/75
DOR.BP.BC.No.29/21.02.067/2020-21
December 4, 2020
All Commercial Banks and All Cooperative Banks,
Madam / Dear Sir,
Declaration of dividends by banks
Please refer to ourcircular DOR.BP.BC.No.64/21.02.067/2019-20 dated April 17, 2020, on the captioned subject.
2. In view of the ongoing stress and heightened uncertainty on account of COVID-19, it is imperative that banks continue to conserve capital to support the economy and absorb losses. In order to further st...
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RBI |
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Processing of e-mandates for recurring transactions
Posted Date : 05-Dec-2020 , 10:05:40 am | Posted By: CASANSAAR
RBI/2020-21/74
DPSS.CO.PD No.754/02.14.003/2020-21
December 04, 2020
The Chairman / Managing Director / Chief Executive Officer
All Scheduled Commercial Banks, including Regional Rural Banks /
Urban Co-operative Banks / State Co-operative Banks /
District Central Co-operative Banks / Payments Banks /
Small Finance Banks / Local Area Banks /
Non-bank Prepaid Payment Instrument issuers / Authorised Card Payment Networks /
National Payments Corporation of India
Madam / Dear Sir,
...
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RBI |
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Authorisation of entities for operating a Payment System under the Payment and Settlement Systems Act, 2007 (PSS Act) – Introduction of Cooling Period
Posted Date : 05-Dec-2020 , 10:04:58 am | Posted By: CASANSAAR
RBI/2020-21/73
DPSS.CO.OD.No.753/06.08.005/2020-21
December 4, 2020
The Chairman / Managing Director / Chief Executive Officer
Non-bank Payment System Operators
Madam / Dear Sir
Authorisation of entities for operating a Payment System under the Payment and
Settlement Systems Act, 2007 (PSS Act) – Introduction of Cooling Period
Please refer to provisions contained in Section 4 of ...
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RBI |
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Perpetual Validity for Certificate of Authorisation (CoA) issued to Payment System Operators (PSOs) under Payment and Settlement Systems Act, 2007 (PSS Act)
Posted Date : 05-Dec-2020 , 10:04:08 am | Posted By: CASANSAAR
RBI/2020-21/72
DPSS.CO.AD.No.724/02.27.005/2020-21
December 4, 2020
The Chairman / Managing Director / Chief Executive Officer
Authorised Non-bank Payment System Operators
Madam / Dear Sir.
Perpetual Validity for Certificate of Authorisation (CoA) issued to Payment System Operators (PSOs) under Payment and Settlement Systems Act, 2007 (PSS Act)
This has reference to theStatement on Developmental and Regulatory Policies dated October 9, 2020wherein Reserve Bank of India (RBI) had...
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RBI |
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Card transactions in Contactless mode - Relaxation in requirement of Additional Factor of Authentication
Posted Date : 05-Dec-2020 , 10:03:04 am | Posted By: CASANSAAR
RBI/2020-21/71
DPSS.CO.PD No.752/02.14.003/2020-21
December 04, 2020
The Chairman / Managing Director / Chief Executive Officer
All Scheduled Commercial Banks including Regional Rural Banks /
Urban Co-operative Banks / State Co-operative Banks /
District Central Co-operative Banks / Payments Banks /
Small Finance Banks / Local Area Banks /
Non-bank Prepaid Payment Instrument issuers /
Authorised Card Payment Networks
Madam / Dear Sir,
Card transactions in Contactless mode - Re...
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Category :
RBI |
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24x7 Availability of Real Time Gross Settlement (RTGS) System - RBI
Posted Date : 05-Dec-2020 , 10:02:18 am | Posted By: CASANSAAR
RBI/2020-21/70
DPSS (CO) RTGS No.750/04.04.016/2020-21
December 04, 2020
The Chairman / Managing Director / Chief Executive Officer
of member banks participating in RTGS
Madam / Dear Sir,
24x7 Availability of Real Time Gross Settlement (RTGS) System
A reference is invited to theStatement on Developmental and Regulatory Policies dated October 09, 2020wherein Reserve Bank of India (RBI) had announced making available the Real Time Gross Settlement (RTGS) system round the clock on ...
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Category :
PAN |
Comments :
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Clarifications on provisions of the Direct Tax Vivad se Vishwas Act, 2020
Posted Date : 05-Dec-2020 , 09:51:34 am | Posted By: CASANSAAR
With the objective to reduce pending in‘orne tax litigation, generate timely revenue for the Government and benefit taxpayers by providing them peace of mind, certainty and savings on account of time and resources that would otherwise be spent on the long-drawn and vexatious litigation process, the Direct Tax Vivad se Vishwas Act, 2020 (hereinafter referred to as Vivad se Vishwas’) was enacted on 17th March, 2020....
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Category :
Income Tax |
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Income-tax Deduction from Salaries During the FY 2020-21 under section 192 of the Income-tax Act
Posted Date : 05-Dec-2020 , 09:49:20 am | Posted By: CASANSAAR
Circular No. 20/2020 :Income-tax Deduction from Salaries During the Financial Year 2020-21 under section 192 of the Income-tax Act, 1961...
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Category :
Income Tax |
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CBIC waives Penalty for non compliance to GST Invoice QR code provisions
Posted Date : 30-Nov-2020 , 10:18:44 am | Posted By: CASANSAAR
MINISTRY OF FINANCE
(Department of Revenue)
(CENTRAL BOARD OF INDIRECT TAXES AND CUSTOMS)
New Delhi,
Notification No. 89/2020–Central Tax
Dated: 29th November, 2020
G.S.R. 745(E).—In exercise of the powers conferred by section 128 of the Central Goods and Services Tax Act, 2017 (12 of 2017) (hereafter in this notification referred to as the said Act), the Government, on the recommendations of the Council, hereby waives the amount of penalty payable by any registered p...
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Category :
GST |
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The Lakshmi Vilas Bank Ltd. branches to operate as DBS Bank India Ltd. branches from Nov 27, 2020
Posted Date : 26-Nov-2020 , 09:16:31 am | Posted By: CASANSAAR
The Government of India has today sanctioned theScheme for the amalgamationof the Lakshmi Vilas Bank Ltd. with DBS Bank India Ltd. The amalgamation will come into force on the Appointed date i.e. November 27, 2020. All the branches of the Lakshmi Vilas Bank Ltd. will function as branches of DBS Bank India Ltd. with effect from this date.
Customers, including depositors of the Lakshmi Vilas Bank Ltd. will be able to operate their accounts as customers of DBS Bank India Ltd. with effect fro...
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Category :
RBI |
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DGGI Rohtak arrests one more in Hisar for issuing fake invoices of ITC
Posted Date : 25-Nov-2020 , 09:50:49 am | Posted By: CASANSAAR
In pursuance of ongoing investigation of fraudulent passing of Input Tax Credit (ITC)wherein one person namely Sh. Satender Kumar Singla of Hisar was arrested on 12.11.2020,the Directorate General of GST Intelligence (DGGI), Regional Unit, Rohtak falling under Gurugram Zonal Unit has arrested one more person namely, Sh. Vikas Jain, of Jind on 23.11.2020. Sh. Vikas Jain was the proprietor of one of the firms and as a proprietor of a firm was found involved in issuing fake invoices having taxable ...
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Category :
GST |
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