CBDT issues Order u/s 119 of on issue of certificates for lower rate/nil deduction/collection of TDS or TCS
Posted Date : 31-Mar-2020 , 02:12:04 pm | Posted By: CASANSAAR
Due to outbreak of thc p3Ildel1lic Covid·19 virus, th~re is se'ere disruptiol1 III the nOllllal working of almost all sectors. including functioning of the Income _ ta.x Depanmenl In such a sccnario. the applications filed by thc payces uls 195 and 197 of the Act for lo,,'er or nil rate of d.:duetion of ms and applications b} buycrsfliccnSl.:es/lessces uls 206C (9) of tile Act for lowcr or l1i l rate of collection of lCS for F.Y. 2020-21 . ha'e not been attended in a timcly ...
Continue Reading...
Category :
CBDT |
Comments :
0 | Hits : 1201
|
 |
‘Fully Accessible Route’ for Investment by Non-residents in Government Securities - (specified securities)
Posted Date : 31-Mar-2020 , 09:20:33 am | Posted By: CASANSAAR
RBI/2019-20/201
FMRD.FMSD.No.25/14.01.006/2019-20
March 30, 2020
To
All participants in Government Securities market
Madam/Sir,
‘Fully Accessible Route’ for Investment by Non-residents in Government Securities
A reference is invited to the announcement made in the Union Budget 2020-21 that certain specified categories of Central Government securities would be opened fully for non-resident investors without any restrictions, apart from being available to domestic inve...
Continue Reading...
Category :
FEMA |
Comments :
0 | Hits : 878
|
|
‘Fully Accessible Route’ for Investment by Non-residents in Government Securities
Posted Date : 31-Mar-2020 , 09:19:53 am | Posted By: CASANSAAR
RBI/2019-20/200
A.P. (DIR Series) Circular No. 25
March 30, 2020
To
All Authorized Persons
Madam / Sir
‘Fully Accessible Route’ for Investment by Non-residents in Government Securities
Attention of Authorised Dealer Category-I (AD Category-I) banks is invited to the following regulations / directions, as amended from time to time, and the relevant directions issued thereunder:
...
Continue Reading...
Category :
FEMA |
Comments :
0 | Hits : 936
|
|
Investment by Foreign Portfolio Investors (FPI): Investment limits
Posted Date : 31-Mar-2020 , 09:19:09 am | Posted By: CASANSAAR
RBI/2019-20/199
A.P. (DIR Series) Circular No. 24
March 30, 2020
To,
All Authorized Persons
Madam / Sir
Investment by Foreign Portfolio Investors (FPI): Investment limits
Attention of Authorised Dealer Category-I (AD Category-I) banks is invited to Schedule 1 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 the relevant directions issued thereunder. A r...
Continue Reading...
Category :
FEMA |
Comments :
0 | Hits : 1096
|
|
Special Clearing Operations on March 31, 2020 - RBI
Posted Date : 31-Mar-2020 , 09:18:19 am | Posted By: CASANSAAR
RBI/2019-20/198
DPSS.CO.RPPD.No./1864/03.01.03/2019-20
March 30, 2020
The Chairman and 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 / Local Area Banks / Payment Banks /
Small Finance Banks
Madam / Dear Sir,
Special Clearing Operations on March 31, 2020
A reference is invited to the circular issued by Department of Government ...
Continue Reading...
Category :
RBI |
Comments :
0 | Hits : 799
|
|
Amalgamation of Public Sector Banks - Assignment of SLBC/ UTLBC Convenorship and Lead Bank responsibilities
Posted Date : 31-Mar-2020 , 09:17:30 am | Posted By: CASANSAAR
RBI/2019-20/197
FIDD.CO.LBS.BC.No.22/02.01.001/2019-20
March 30, 2020
The Chairmen/ Managing Directors & CEOs
SLBC/ UTLBC Convenor Banks and Lead Banks
Madam / Dear Sir,
Amalgamation of Public Sector Banks - Assignment of SLBC/ UTLBC Convenorship and Lead Bank responsibilities
The amalgamations of Oriental Bank of Commerce and United Bank of India with Punjab National Bank; Andhra Bank ...
Continue Reading...
Category :
RBI |
Comments :
0 | Hits : 805
|
|
Notification for increasing threshold of default under section 4 of IBC,2016
Posted Date : 30-Mar-2020 , 09:33:08 am | Posted By: CASANSAAR
MCA issueNotification for increasing threshold of default under section 4 of IBC,2016....
Continue Reading...
Category :
Corporate Laws |
Comments :
0 | Hits : 1003
|
|
Contribution to PM CARES Fund shall qualify as CSR expenditure - MCA
Posted Date : 30-Mar-2020 , 08:47:24 am | Posted By: CASANSAAR
Clarification on contribution to PM CARES Fund as eligible CSR activity under item no. (viii) of the Schedule VII of Companies Act, 2013.
Item no. (viii) of the Schedule VII of the Companies Act, 2013, which enumerates activities that may be undertaken by companies in discharge of their CSR obligations, inter alia provides that contribution to any fund set up by the Central Government for socio-economic development and relief qualifies as CSR expenditure. The PM-CARES Fund has been set up to ...
Continue Reading...
Category :
Corporate Laws |
Comments :
0 | Hits : 861
|
|
Branches of Allahabad Bank to operate as branches of Indian Bank from April 1, 2020
Posted Date : 29-Mar-2020 , 09:20:58 am | Posted By: CASANSAAR
The Amalgamation of Allahabad Bank into Indian Bank Scheme, 2020 dated March 4, 2020, issued by the Government of India was published under Extraordinary Part II-Section 3-Sub-section (i) in the Gazette of India sanctioning the Amalgamation of Allahabad Bank into Indian Bank in terms of section 9 of the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970 (5 of 1970). The scheme comes into force on the 1st day of April 2020.
Consequently, all branches of Allahabad Bank will ...
Continue Reading...
Category :
RBI |
Comments :
0 | Hits : 828
|
|
Branches of Andhra Bank and Corporation Bank to operate as branches of Union Bank of India from April 1, 2020
Posted Date : 29-Mar-2020 , 09:20:26 am | Posted By: CASANSAAR
The Amalgamation of Andhra Bank and Corporation Bank into Union Bank of India Scheme, 2020 dated March 4, 2020, issued by the Government of India was published under Extraordinary Part II-Section 3-Sub-section (i) in the Gazette of India sanctioning the Amalgamation of Andhra Bank and Corporation Bank into Union Bank of India in terms of section 9 of the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970 (5 of 1970) and section 9 of the Banking Companies (Acquisition and Tran...
Continue Reading...
Category :
RBI |
Comments :
0 | Hits : 814
|
|
Branches of Oriental Bank of Commerce and United Bank of India to operate as branches of Punjab National Bank from April 1, 2020
Posted Date : 29-Mar-2020 , 09:19:50 am | Posted By: CASANSAAR
The Amalgamation of Oriental Bank of Commerce and United Bank of India into Punjab National Bank Scheme, 2020 dated March 4, 2020, issued by the Government of India was published under Extraordinary Part II-Section 3-Sub-section (i) in the Gazette of India sanctioning the Amalgamation of Oriental Bank of Commerce and United Bank of India into Punjab National Bank in terms of section 9 of the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970 (5 of 1970) and section 9 of the B...
Continue Reading...
Category :
RBI |
Comments :
0 | Hits : 733
|
|
Branches of Syndicate Bank to operate as branches of Canara Bank from April 1, 2020
Posted Date : 29-Mar-2020 , 09:19:13 am | Posted By: CASANSAAR
The Amalgamation of Syndicate Bank into Canara Bank Scheme, 2020 dated March 4, 2020, issued by the Government of India was published under Extraordinary Part II-Section 3-Sub-section (i) in the Gazette of India sanctioning the Amalgamation of Syndicate Bank into Canara Bank in terms of section 9 of the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970 (5 of 1970). The scheme comes into force on the 1st day of April 2020.
Consequently, all branches of Syndicate Bank will ...
Continue Reading...
Category :
RBI |
Comments :
0 | Hits : 864
|
|
Guidelines for Licensing of Small Finance Banks in Private Sector - RBI
Posted Date : 29-Mar-2020 , 09:18:17 am | Posted By: CASANSAAR
RBI/2019-20/196
DOR.NBD.No.44/16.13.218/2019-20
March 28, 2020
Managing Director and Chief Executive Officers
of Small Finance Banks
Madam / Dear Sir,
‘Guidelines for Licensing of Small Finance Banks in Private Sector’ dated November 27, 2014 – Modifications to existing norms
Please refer to the ‘Guidelines for Licensing of Small Finance Banks in Private Sector’ ...
Continue Reading...
Category :
RBI |
Comments :
0 | Hits : 825
|
|
Annual Closing of Government Accounts – Transactions of Central / State Governments – Special Measures for the Current Financial Year
Posted Date : 27-Mar-2020 , 08:44:21 pm | Posted By: CASANSAAR
RBI/2019-20/194
DGBA.GBD.No.1799/42.01.029/2019-20
March 27, 2020
All Agency Banks
Dear Sir / Madam
Annual Closing of Government Accounts – Transactions of Central / State Governments – Special Measures for the Current Financial Year (2019-20)
All government transactions done by agency banks for Financial Year 2019-20 must be accounted for within the same financial year. Taking into acco...
Continue Reading...
Category :
RBI |
Comments :
0 | Hits : 859
|
|
Risk Management and Inter-bank Dealings- Participation of Banks in Offshore Non-deliverable Rupee Derivative Markets
Posted Date : 27-Mar-2020 , 08:43:34 pm | Posted By: CASANSAAR
RBI/2019-20/193
A.P. (DIR Series) Circular No.23
March 27, 2020
All Authorised Dealer Category-I Banks
Madam / Sir,
Risk Management and Inter-bank Dealings- Participation of Banks in Offshore Non-deliverable Rupee Derivative Markets
Attention is invited to the Foreign Exchange Management (Foreign Exchange Derivative Contracts) Regulations, 2000 (Notification no. FEMA.25/RB-2000 dated May 3, 2000), as amended from time to time, andMaster Direction- Risk Management and Inter-bank D...
Continue Reading...
Category :
FEMA |
Comments :
0 | Hits : 838
|
|
Change in Daily Minimum Cash Reserve Maintenance Requirement
Posted Date : 27-Mar-2020 , 08:42:58 pm | Posted By: CASANSAAR
RBI/2019-20/192
DOR.No.Ret.BC.51/12.01.001/2019-20
March 27, 2020
All Scheduled Banks
Dear Sir/Madam
Section 42(1) of the Reserve Bank of India Act, 1934 - Change in Daily Minimum Cash Reserve Maintenance Requirement
Please refer to ourCircular DBR.No.Ret.BC.91/12.01.001/2015-16 dated April 05, 2016on the captioned subject.
2. As announced in theSeventh Bi-monthly Monetary Policy Statement, 2019-20, March 27, 2020, it has been decided to reduce the minimum daily maintenance of...
Continue Reading...
Category :
RBI |
Comments :
0 | Hits : 767
|
|
Maintenance of Cash Reserve Ratio (CRR)
Posted Date : 27-Mar-2020 , 08:42:20 pm | Posted By: CASANSAAR
RBI/2019-20/191
DOR.No.Ret.BC.49/12.01.001/2019-20
March 27, 2020
All Banks
Dear Sir / Madam
Maintenance of Cash Reserve Ratio (CRR)
Please refer to ourCircular DBOD.No.Ret.BC.76/12.01.001/2012-13 dated January 29, 2013and Circular RPCD.CO.RCB.RRB.BC.No.61/03.05.33/2012-13 dated January 29, 2013 on the captioned subject.
2. As announced in theSeventh Bi-monthly Monetary Policy Statement, 2019-20, March 27, 2020, it has been decided to reduce the Cash Reserve Ratio (CRR) of all...
Continue Reading...
Category :
RBI |
Comments :
0 | Hits : 758
|
|
Change in Bank Rate
Posted Date : 27-Mar-2020 , 08:41:42 pm | Posted By: CASANSAAR
RBI/2019-20/190
DOR.No.Ret.BC.53/12.01.001/2019-20
March 27, 2020
All Scheduled and Non Scheduled Banks
Dear Sir/Madam
Change in Bank Rate
Please refer to our circularDBR.No.Ret.BC.19/12.01.001/2019-20 dated October 04, 2019, on the captioned subject.
2. As announced in theSeventh Bi-Monthly Monetary Policy Statement 2019-20 of March 27, 2020, the Bank Rate is revised downwards by 75 basis points from 5.40 per cent to 4.65 per cent with immediate effect.
3. All penal intere...
Continue Reading...
Category :
RBI |
Comments :
0 | Hits : 757
|
|
Maintenance of Statutory Liquidity Ratio (SLR) – Marginal Standing Facility (MSF)
Posted Date : 27-Mar-2020 , 08:41:06 pm | Posted By: CASANSAAR
RBI/2019-20/189
DOR.No.Ret.BC.52/12.01.001/2019-20
March 27, 2020
All Scheduled Banks (excluding Regional Rural Banks)
Dear Sir / Madam
Section 24 of the Banking Regulation Act, 1949 – Maintenance of Statutory Liquidity Ratio (SLR) – Marginal Standing Facility (MSF)
Please refer to ourCircular DBOD.No.Ret.BC.95/12.02.001/2011-12 dated April 17, 2012,Circular UBD.BPD.(SCB).Cir.No.1/16.27....
Continue Reading...
Category :
RBI |
Comments :
0 | Hits : 741
|
|
Basel III Capital Regulations- Review of transitional arrangements
Posted Date : 27-Mar-2020 , 08:40:25 pm | Posted By: CASANSAAR
RBI/2019-20/188
DOR.BP.BC.No.45/21.06.201/2019-20
March 27, 2020
All Scheduled Commercial Banks (Excluding RRBs and LABs)
Dear Sir/Madam,
Basel III Capital Regulations - Review of transitional arrangements
As announced in para 9 of theStatement on Developmental and Regulatory Policiesissued along with theSeventh Bi-monthly Monetary Policy Statement 2019-20, the implementation of the last tranche of ...
Continue Reading...
Category :
RBI |
Comments :
0 | Hits : 751
|
|
Basel III Framework on Liquidity Standards – Net Stable Funding Ratio (NSFR)
Posted Date : 27-Mar-2020 , 08:39:44 pm | Posted By: CASANSAAR
RBI/2019-20/187
DOR.BP.BC.No.46/21.04.098/2019-20
March 27, 2020
All Scheduled Commercial Banks
(excluding RRBs)
Dear Sir/Madam,
Basel III Framework on Liquidity Standards –
Net Stable Funding Ratio (NSFR)
Please refer to paragraph 8 ofStatement on Developmental and Regulatory Policies of Seventh Bi-monthly Monetary Policy Statement, 2019-20 dated March 27, 2020and ourcircular DB...
Continue Reading...
Category :
RBI |
Comments :
0 | Hits : 800
|
|
COVID-19 – Regulatory Package by RBI
Posted Date : 27-Mar-2020 , 08:38:14 pm | Posted By: CASANSAAR
RBI/2019-20/186
DOR.No.BP.BC.47/21.04.048/2019-20
March 27, 2020
All Commercial Banks (including Small Finance Banks, Local Area Banks and Regional Rural Banks)
All Primary (Urban) Co-operative Banks/State Co-operative Banks/ District Central Co-operative Banks
All All-India Financial Institutions
All Non-Banking Finance Companies (including Housing Finance Companies)
Madam/Dear Sir,
COVID-19 – Regulatory Package
Please refer to theStatement of Development and Regulatory...
Continue Reading...
Category :
RBI |
Comments :
0 | Hits : 803
|
|
Legal Entity Identifier: Extension of deadline
Posted Date : 27-Mar-2020 , 08:35:07 pm | Posted By: CASANSAAR
RBI/2019-20/185
FMRD.FMID.No.24/11.01.007/2019-20
March 27, 2020
To
All eligible market participants
Dear Sir/Madam,
Legal Entity Identifier: Extension of deadline
A reference is invited to circularFMRD.FMID.No.10/11.01.007/2018-19 dated November 29, 2018issued by Reserve Bank of India on requirement of Legal Entity Identifier (LEI) for participation in non-derivative markets. Reference is also invited to circularFMRD.FMID.No.15/11.01.007/2018-19 dated April 26, 2019on revised t...
Continue Reading...
Category :
RBI |
Comments :
0 | Hits : 752
|
|
Standing Liquidity Facility for Primary Dealers
Posted Date : 27-Mar-2020 , 08:34:24 pm | Posted By: CASANSAAR
RBI/2019-20/184
REF.No.MPD.BC.390/07.01.279/2019-20
March 27, 2020
All Primary Dealers,
Standing Liquidity Facility for
Primary Dealers
In theSeventh Bi-monthly Monetary Policy Statement 2019-20of the Monetary Policy Committee (MPC) of March 27, 2020, the policy repo rate under the Liquidity Adjustment Facility (LAF) has been reduced by 75 basis points to 4.40 per cent from 5.15 per cent with immediate effect.
2. Accordingly, the Standing Liquidity Facility provided to Primary D...
Continue Reading...
Category :
RBI |
Comments :
0 | Hits : 734
|
|
Marginal Standing Facility
Posted Date : 27-Mar-2020 , 08:33:44 pm | Posted By: CASANSAAR
RBI/2019-2020/183
FMOD.MAOG.No.139/01.18.001/2019-20
March 27, 2020
All Marginal Standing Facility (MSF) participants
Madam/Sir,
Marginal Standing Facility
As announced in theSeventh Bi-monthly Monetary Policy Statement, 2019-20today, it has been decided by the Monetary Policy Committee (MPC) to reduce the policy Repo rate under the Liquidity Adjustment Facility (LAF) by 75 basis points from 5.15 per cent to4.40 per centwith immediate effect.
2. Consequently, the Marginal Stan...
Continue Reading...
Category :
RBI |
Comments :
0 | Hits : 738
|
|
Liquidity Adjustment Facility – Repo and Reverse Repo Rates
Posted Date : 27-Mar-2020 , 08:33:01 pm | Posted By: CASANSAAR
RBI/2019-2020/182
FMOD.MAOG.No.140/01.01.001/2019-20
March 27, 2020
All Liquidity Adjustment Facility (LAF) participants
Madam/Sir,
Liquidity Adjustment Facility – Repo and Reverse Repo Rates
As announced in theSeventh Bi-monthly Monetary Policy Statement, 2019-20,today, it has been decided by the Monetary Policy Committee (MPC) to reduce the policy Repo rate under the Liquidity Adjustment Fac...
Continue Reading...
Category :
RBI |
Comments :
0 | Hits : 729
|
|
Extension of Statutory Audit of Annual Accounts of Public Sector Banks
Posted Date : 26-Mar-2020 , 10:48:05 am | Posted By: CASANSAAR
Department's Letter of even number, dated 10-02-2012 regarding the above subject (copy enclosed for ready reference) is hereby withdrawn.
As per earlier order, Banks has to complete the Statutory Audit of Annual Accounts by 15th May.
This has been withdrawn Now.
NowDue Dates postponed and will be as per SEBI timeline (which has relaxed by a month)
...
Continue Reading...
Category :
RBI |
Comments :
0 | Hits : 6346
|
|
Deferment of applicability of CARO 2020 to FY 2020-21
Posted Date : 26-Mar-2020 , 10:20:18 am | Posted By: CASANSAAR
S.O.- In the order of the Government of India in the Ministry of Corporate Alfairs number S.O. S49(E), dated the 25ft February,2O2O, published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (ii), dated the 25tn February, 2O2O, in paragraph "2. Auditor's report to contain matters specified in paragraphs 3 and 4", for the words and figures "1"t April, 2019", the words and figures ul"t April, 2O2O" shall be substituted....
Continue Reading...
Category :
Corporate Laws |
Comments :
0 | Hits : 1194
|
|
Special Measures under Companies Act, 2013 and Limited Liability Partnership Act, 2008 in view of COVID-19 outbreak
Posted Date : 26-Mar-2020 , 10:16:11 am | Posted By: CASANSAAR
In order to support and enable Companies and Limited Liability Partnerships (LLPs) in India to focus on taking necessary measures to address the COVID-19 threat, including the economic disruptions caused by it, the following measures have been implemented by the Ministry of Corporate Affairs to reduce their compliance burden and other risks: -...
Continue Reading...
Category :
Corporate Laws |
Comments :
0 | Hits : 877
|
|
CBIC notifies GSTR-3B with due dates for April 2020 to September 2020
Posted Date : 25-Mar-2020 , 09:51:13 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) (hereafter in this notification referred to as the said Act), read with sub-rule (5) of rule 61 of the Central Goods and Services Tax Rules, 2017 (hereafter in this notification referred to as the said rules), the Commissioner, on the recommendations of the Council, hereby specifies that the return in FORM GSTR-3B of the said rules for each of the months from April, 2020 ...
Continue Reading...
Category :
GST |
Comments :
0 | Hits : 1143
|
|
|
|
