Draft Frameworks for Sale of Loan Exposures and Securitisation of Standard Assets
Posted Date : 09-Jun-2020 , 08:49:54 am | Posted By: CASANSAAR
The Reserve Bank has today placed on its website two draft documents for public comments - the ‘Draft Framework for Securitisation of Standard Assets’ and ‘theDraft Comprehensive Framework for Sale of Loan Exposures’. These guidelines are applicable to all Scheduled Commercial Banks (excluding Regional Rural Banks); All India Financial Institutions (NABARD, NHB, EXIM Bank, and SIDBI); and, all Non-Banking Financial Companies including Housing Finance Companies.
Aimed a...
Continue Reading...
Category :
RBI |
Comments :
0 | Hits : 1081
|
 |
NIL GST Return through SMS enabled
Posted Date : 09-Jun-2020 , 08:41:26 am | Posted By: CASANSAAR
In order to facilitate convenient return filing for taxpayers, Government is rolling out the facility of filing of NIL GST monthly return in Form GST-3B through SMS. Over 22 lakh registered taxpayers are estimated to benefit from this move....
Continue Reading...
Category :
GST |
Comments :
0 | Hits : 1074
|
|
Interest Subvention and Prompt Repayment Incentive for Short Term Loans for extended period on account of Covid-19
Posted Date : 05-Jun-2020 , 08:46:16 am | Posted By: CASANSAAR
RBI/2019-20/250
FIDD.CO.FSD.BC.No.25/05.02.001/2019-20
June 4, 2020
The Chairman / Managing Director & CEOs
All Public & Private Sector Scheduled Commercial Banks
Madam/Dear Sir,
Interest Subvention (IS) and Prompt Repayment Incentive (PRI) for Short Term Loans for Agriculture including Animal Husbandry, Dairy and Fisheries for extended period on account of Covid-19
Please refer to ou...
Continue Reading...
Category :
RBI |
Comments :
0 | Hits : 1128
|
|
Extension of timeline for compliance with various payment system requirements
Posted Date : 05-Jun-2020 , 08:45:18 am | Posted By: CASANSAAR
RBI/2019-20/251
DPSS.CO.PD.No.1897/02.14.003/2019-20
June 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 PPI issuers /
Authorised Payment System Participants / Operators
Madam / Dear Sir,
Extension of timeline for compliance with various...
Continue Reading...
Category :
RBI |
Comments :
0 | Hits : 1112
|
|
CBDT notifies ITR forms for A.Y. 2020-21
Posted Date : 01-Jun-2020 , 10:13:29 am | Posted By: CASANSAAR
G.S.R. 338(E).—In exercise of the powers conferred by section 139 read with section 295 of the Income-tax Act, 1961 (43 of 1961), the Central Board of Direct Taxes hereby makes the following rules further to amend the Income-tax Rules, 1962, namely:—...
Continue Reading...
Category :
CBDT |
Comments :
0 | Hits : 1413
|
|
Recovery of Penal Interest on delayed remittance of Government Receipts into Government Account
Posted Date : 30-May-2020 , 10:20:03 am | Posted By: CASANSAAR
RBI/2019-20/248
DGBA.GBD.No.1909/42.01.011/2019-20
May 29, 2020
The Chairman and Managing Directors/ Managing Director/ CEO
All Agency Banks
Dear Sir / Madam
Recovery of Penal Interest on delayed remittance of Government Receipts into Government Account
Please refer to ourcircular RBI/2019-20/70 DGBA.GBD.No.653/42.01.011/2019-20 dated September 26, 2019through which agency banks were advised ...
Continue Reading...
Category :
RBI |
Comments :
0 | Hits : 1317
|
|
Amendment of item no.(viii) in the Schedule VIl of the Companies Act,2013
Posted Date : 29-May-2020 , 10:23:23 am | Posted By: CASANSAAR
In Schedule VII, item (viii), after the words “Prime Minister’s National Relief Fund”, the words “or Prime Minister’s Citizen Assistance and Relief in Emergency Situations Fund (PM CARES Fund)” shall be inserted...
Continue Reading...
Category :
Companies Act |
Comments :
0 | Hits : 1359
|
|
CBDT notifies revised Form 26AS
Posted Date : 29-May-2020 , 10:15:54 am | Posted By: CASANSAAR
MINISTRY OF FINANCE
(Department of Revenue)
(CENTRAL BOARD OF DIRECT TAXES)
Notification No. 30/2020
New Delhi, the 28th May, 2020
INCOME-TAX
G.S.R. 329(E).—In exercise of the powers conferred by section 285BB read with section 295 of the Income-tax Act, 1961 (43 of 1961), the Central Board of Direct Taxes hereby makes the following rules further to amend the Income-tax Rules, 1962, namely:—
1. Short title and commencement.-(1) These rules may be called the Income-tax ...
Continue Reading...
Category :
CBDT |
Comments :
0 | Hits : 1587
|
|
Cessation of 7.75% Savings (Taxable) Bonds, 2018
Posted Date : 28-May-2020 , 08:28:34 am | Posted By: CASANSAAR
RBI/2019-20/247
IDMD.CDD.No.2964/13.01.299/2019-20
May 27, 2020
The Chairman / Managing Director
State Bank of India & Nationalised Banks
Axis Bank Ltd., ICICI Bank Ltd., HDFC Bank Ltd,
Stock Holding Corporation of India Ltd. (SHCIL)
Madam/Sir,
Cessation of 7.75% Savings (Taxable) Bonds, 2018
Government of India has videNotification F.No.4(28)-(W&M)/2017 dated May 27, 2020announced that the 7.75 percent Savings (Taxable) Bonds, 2018 shall cease for subscription with ef...
Continue Reading...
Category :
RBI |
Comments :
0 | Hits : 1137
|
|
Import of goods and services- Extension of time limits for Settlement of import payment
Posted Date : 23-May-2020 , 09:17:59 am | Posted By: CASANSAAR
RBI/2019-20/242
A.P. (DIR Series) Circular No.33
May 22, 2020
To
All Category - I Authorised Dealer Banks
Madam / Sir,
Import of goods and services- Extension of time limits for Settlement of import payment
Please refer to para 5 ofStatement on Developmental and Regulatory Policiesissued today. In this connection the attention of Authorised Dealer Category -I banks is invited to para B.5.1 ...
Continue Reading...
Category :
FEMA |
Comments :
0 | Hits : 1534
|
|
Change in Bank Rate
Posted Date : 23-May-2020 , 09:17:03 am | Posted By: CASANSAAR
RBI/2019-20/240
DOR.No.Ret.BC.74/12.01.001/2019-20
May 22, 2020
All Scheduled and Non Scheduled Banks
Dear Sir / Madam
Change in Bank Rate
Please refer to ourcircular DBR.No.Ret.BC.53/12.01.001/2019-20 dated March 27, 2020on the captioned subject.
2. As announced in theMonetary Policy Statement 2020-21 dated May 22, 2020, the Bank Rate is revised downwards by 40 basis points from 4.65 per c...
Continue Reading...
Category :
RBI |
Comments :
0 | Hits : 1328
|
|
Voluntary Retention Route’ (VRR) for Foreign Portfolio Investors (FPIs) investment in debt - relaxations
Posted Date : 23-May-2020 , 09:16:19 am | Posted By: CASANSAAR
RBI/2019-20/239
A.P.(DIR Series) Circular No.32
May 22, 2020
To
All Authorised persons
Madam / Sir,
‘Voluntary Retention Route’ (VRR) for Foreign Portfolio Investors (FPIs) investment in debt - relaxations
Attention of Authorised Dealer Category-I (AD Category-I) banks is invited to the Foreign Exchange Management (Debt Instruments) Regulations, 2019 notified videNotification No. FEMA.396/2019-RB dated October 17, 2019, as amended from time to time, and relevant di...
Continue Reading...
Category :
FEMA |
Comments :
0 | Hits : 1204
|
|
Standing Liquidity Facility for Primary Dealers
Posted Date : 23-May-2020 , 09:15:22 am | Posted By: CASANSAAR
RBI/2019-20/238
REF.No.MPD.BC.391/07.01.279/2019-20
May 22, 2020
All Primary Dealers,
Standing Liquidity Facility for
Primary Dealers
In theMonetary Policy Statement 2020-21 dated May 22, 2020, the policy repo rate under the Liquidity Adjustment Facility (LAF) has been reduced by 40 basis points to 4.00 per cent from 4.40 per cent with immediate effect.
2. Accordingly, the Standing Liquidity Facility provided to Primary Dealers (PDs) (collateralised liquidity support) from the R...
Continue Reading...
Category :
RBI |
Comments :
0 | Hits : 1058
|
|
Liquidity Adjustment Facility – Repo and Reverse Repo Rates
Posted Date : 23-May-2020 , 09:14:40 am | Posted By: CASANSAAR
RBI/2019-20/237
FMOD.MAOG.No.142/01.01.001/2019-20
May 22, 2020
All Liquidity Adjustment Facility (LAF) participants
Madam/Sir,
Liquidity Adjustment Facility – Repo and Reverse Repo Rates
As announced in theMonetary Policy Statement, 2020-21, today, it has been decided by the Monetary Policy Committee (MPC) to reduce the policy Repo rate under the Liquidity Adjustment Facility (LAF) by 40 basis points from 4.40 per cent to4.00 per centwith immediate effect.
2. Consequent...
Continue Reading...
Category :
RBI |
Comments :
0 | Hits : 1049
|
|
Marginal Standing Facility
Posted Date : 23-May-2020 , 09:13:47 am | Posted By: CASANSAAR
RBI/2019-20/236
FMOD.MAOG.No.143/01.18.001/2019-20
May 22, 2020
All Marginal Standing Facility (MSF) participants
Madam/Sir,
Marginal Standing Facility
As announced in theMonetary Policy Statement, 2020-21today, it has been decided by the Monetary Policy Committee (MPC) to reduce the policy Repo rate under the Liquidity Adjustment Facility (LAF) by 40 basis points from 4.40 per cent to4.00 per centwith immediate effect.
2. Consequently, the Marginal Standing Facility (MSF) rat...
Continue Reading...
Category :
RBI |
Comments :
0 | Hits : 1108
|
|
Amendment of the Income-tax Rules, 1962 to provide for Safe Harbour Rule
Posted Date : 22-May-2020 , 09:27:47 am | Posted By: CASANSAAR
G.S.R. 304(E).— In exercise of the powers conferred by section 295 read with sub-section (2) of section 92CB of the Income-tax Act, 1961 (43 of 1961), the Central Board of Direct Taxes hereby makes the following rules further to amend the Income-tax Rules, 1962, namely:...
Continue Reading...
Category :
CBDT |
Comments :
0 | Hits : 1111
|
|
Clarifications in respect of prescribed electronic modes under section 269SU of the income-tax Act, 1961 - CBDT
Posted Date : 21-May-2020 , 09:23:34 am | Posted By: CASANSAAR
Circular No. 12/2020
F.No.370142/3512019-TPL
Government of India
Ministry of Finance
Department of Revenue
Central Board of Direct Taxes
****
Dated: 20th May, 2020
Subject: Clarifications in respect of prescribed electronic modes under section 269SU of the income-tax Act, 1961 — reg.
In furtherance to the declared policy objective of the Government to encourage digital transactions and move towards a less-cash economy, a new provision namely Section 269SU was inserted in t...
Continue Reading...
Category :
CBDT |
Comments :
0 | Hits : 1441
|
|
Know Your Customer (KYC) Direction, 2016 to Housing Finance Companies
Posted Date : 20-May-2020 , 09:26:46 am | Posted By: CASANSAAR
RBI/2019-20/235
DOR.NBFC (HFC).CC.No.111/03.10.136/2019-20
May 19, 2020
To
Housing Finance Companies
Madam/ Sir,
Extending Master Direction – Know Your Customer (KYC) Direction, 2016 to Housing Finance Companies
TheMaster Direction – Know Your Customer (KYC) Direction, 2016issued by the Bank has consolidated directions on Know Your Customer (KYC), Anti-Money Laundering (AML) and Combating the Financing of Terrorism (CFT) and is applicable to all Regulated Entities ...
Continue Reading...
Category :
RBI |
Comments :
0 | Hits : 1094
|
|
Reporting Platform for OTC Derivatives – Transactions undertaken by IFSC Banking Units (IBUs) and non-deliverable derivative contracts
Posted Date : 19-May-2020 , 09:19:49 am | Posted By: CASANSAAR
RBI/2019-20/233
FMRD.FMID.26/02.05.002/2019-20
May 18, 2020
All Authorised Dealer Category-I Banks
Madam/Sir,
Reporting Platform for OTC Derivatives – Transactions undertaken by IFSC Banking Units (IBUs) and non-deliverable derivative contracts (involving Rupee or otherwise)
In terms ofA.P. (DIR Series) circular no.23 dated March 27, 2020, banks in India having an Authorised Dealer Category-1 license under FEMA, 1999, and operating IBUs have been permitted, with effect from...
Continue Reading...
Category :
RBI |
Comments :
0 | Hits : 1050
|
|
Risk Management and Inter-bank Dealings – Hedging of Foreign Exchange Risk-Date of Implementation
Posted Date : 19-May-2020 , 09:18:56 am | Posted By: CASANSAAR
RBI/2019-20/232
A.P.(DIR Series) Circular No.31
May 18, 2020
To
Authorised Dealers Category – I
Madam/Sir,
Risk Management and Inter-bank Dealings – Hedging of Foreign Exchange Risk-Date of Implementation
A reference is invited to the Directions on Hedging of Foreign Exchange Risk issued videA.P. (DIR Series) Circular No. 29 dated April 7, 2020. The Directions were to come into effect from June 1, 2020.
2. Based on the requests received from market participants ...
Continue Reading...
Category :
FEMA |
Comments :
0 | Hits : 1171
|
|
Extension of Interest Equalisation Scheme on Pre and Post Shipment Rupee Export Credit
Posted Date : 14-May-2020 , 09:53:45 am | Posted By: CASANSAAR
RBI/2019-20/231
DOR.Dir.BC.No.69/04.02.001/2019-20
May 13, 2020
All Scheduled Commercial Banks (excluding RRBs)
Small Finance Banks, Primary (Urban) Cooperative Banks
and EXIM Bank
Dear Sir / Madam,
Interest Equalisation Scheme on Pre and Post Shipment Rupee Export Credit-Extension
Please refer to the operational instructions for the captioned Scheme contained in RBI circular on Interest Equalisation Scheme on Pre and Post Shipment Rupee Export Credit issued videDBR.Dir.BC.No.6...
Continue Reading...
Category :
RBI |
Comments :
0 | Hits : 1170
|
|
Clarification in respect of residency under section 6 of the Income-tax Act,1961 - CBDT
Posted Date : 09-May-2020 , 10:05:49 am | Posted By: CASANSAAR
Clarification in respect of residency under section 6 of the Income-tax Act,1961 - CBDT Circular No. 11 of 2020 dated 08/05/2020...
Continue Reading...
Category :
CBDT |
Comments :
0 | Hits : 1576
|
|
Revised GSTR-3B Due dates for for UT of J&K, Ladakh notified
Posted Date : 07-May-2020 , 08:25:26 am | Posted By: CASANSAAR
G.S.R.....(E).–In exercise of the powers conferred by section 168 of the Central Goods and Services Tax Act, 2017 (12 of 2017) read with sub-rule (5) of rule 61 of the Central Goods and Services Tax Rules, 2017, the Commissioner, 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.44/2019 – Central Tax, dated the 9th October, 2019, published in the Ga...
Continue Reading...
Category :
GST |
Comments :
0 | Hits : 1336
|
|
GST annual return filing date for FY 2018-19 extended till 30th September 2020
Posted Date : 07-May-2020 , 08:24:17 am | Posted By: CASANSAAR
G.S.R.....(E).– In exercise of the powers conferred by sub-section (1) of section 44 of the Central Goods and Services Tax Act, 2017 (12 of 2017) (hereafter in this notification referred to as the said Act), read with rule 80 of the Central Goods and Services Tax Rules, 2017 (hereafter in this notification referred to as the said rules), and in supersession of notification No. 15/2020-Central Tax, dated the 23rd March, 2020, published in the Gazette of India, Extraordinary, Part II, Sectio...
Continue Reading...
Category :
GST |
Comments :
0 | Hits : 1408
|
|
CBIC extends validity of e-way bills till 31st May 2020
Posted Date : 07-May-2020 , 08:22:35 am | Posted By: CASANSAAR
G.S.R.....(E).– In exercise of the powers conferred by section 168A 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 20 of the Integrated Goods and Services Tax Act, 2017 (13 of 2017), and section 21 of Union Territory Goods and Services Tax Act, 2017 (14 of 2017), the Central Government, on the recommendations of the Council, hereby makes the following amendment in the notification of the Governmen...
Continue Reading...
Category :
GST |
Comments :
0 | Hits : 1184
|
|
GST new registration post appointment of IRP/RP by 30.06.2020
Posted Date : 07-May-2020 , 08:21:28 am | Posted By: CASANSAAR
G.S.R.....(E).– In exercise of the powers conferred by section 148 of the Central Goods and Services Tax Act, 2017 (12 of 2017), the Government, on the recommendations of the Council, hereby makes the following amendments in the notification of the Government of India in the Ministry of Finance (Department of Revenue), No.11/2020- Central Tax, dated the 21st March, 2020, published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i), vide number G.S.R. 194(E), dated ...
Continue Reading...
Category :
GST |
Comments :
0 | Hits : 1149
|
|
GSTR 3B Nil Return can be by SMS - Companies can file through EVC
Posted Date : 07-May-2020 , 08:20:11 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: -...
Continue Reading...
Category :
GST |
Comments :
0 | Hits : 1155
|
|
Submission of regulatory returns - Extension of timelines by RBI
Posted Date : 01-May-2020 , 10:28:01 am | Posted By: CASANSAAR
RBI/2019-20/228
DOR.BP.BC.No.68/21.04.018/2019-20
April 29, 2020
All Scheduled Commercial Banks
(including RRBs and Small Finance Banks),
Payments Banks and Local Area Banks,
All India Financial Institutions,
All Co-operative Banks,
Madam / Dear Sir,
Submission of regulatory returns - Extension of timelines
In order to mitigate the difficulties in timely submission of v...
Continue Reading...
Category :
RBI |
Comments :
0 | Hits : 1464
|
|
Extension of the last date of filing of Form NFRA-2
Posted Date : 01-May-2020 , 10:25:03 am | Posted By: CASANSAAR
Time limit for filing for Form NFRA 2, for the reporting period Financial Year 2018-19 will be 210 days from the date of reporting financial year 2018-19 will be 210 days from the date of deloyment of this form on the website of NFRA....
Continue Reading...
Category :
Corporate Laws |
Comments :
0 | Hits : 1260
|
|
CBIC notifies effective date for Rule 87(13) and Form GST PMT09
Posted Date : 01-May-2020 , 10:20:19 am | Posted By: CASANSAAR
G.S.R. 266(E).In exercise of the powers conferred by section 164 of the Central Goods and Services Tax Act, 2017 (12 of 2017) read with clause (c) of rule 9 and rule 25 of the Central Goods and Services Tax (Fourth Amendment) Rules, 2019 (hereinafter referred to as the rules), made vide notification No. 31/2019–Central Tax, dated the 28th June, 2019, published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i), vide number G.S.R 457(E), dated the 28th June, 2019, t...
Continue Reading...
Category :
GST |
Comments :
0 | Hits : 1305
|
|
|
|
