Branches of SBBJ, SBH, SBM, SBP & SBT to operate as SBI branches wef 1st April
Posted Date : 21-Mar-2017 , 08:10:41 am | Posted By: CASANSAAR
Date : Mar 20, 2017
Branches of SBBJ, SBH, SBM, SBP and SBT to operate as branches of SBI from April 1, 2017
All branches of State Bank of Bikaner and Jaipur (SBBJ), State Bank of Hyderabad (SBH), State Bank of Mysore (SBM), State Bank of Patiala (SBP) and State Bank of Travancore (SBT) will function as branches of State Bank of India from April 1, 2017. Customers, including depositors of State Bank of Bikaner and Jaipur, State Bank of Hyderabad, State Bank of Mysore, State Bank of Patiala...
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RBI |
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Companies (Indian Accounting Standards) (Amendment) Rules, 2017 - MCA
Posted Date : 21-Mar-2017 , 07:35:43 am | Posted By: CASANSAAR
MINISTRY OF CORPORATE AFFAIRS
NOTIFICATION
New Delhi, the 17th March, 2017
G.S.R. 258(E).—In exercise of the powers conferred by section 133 read with section 469 of the Companies Act, 2013 (18 of 2013) and sub-section (1) of section 210A of the Companies Act, 1956 (1 of 1956), the Central Government, in consultation with the National Advisory Committee on Accounting Standards, hereby makes the following rules further to amend the Companies (Indian Accounting Standards) Rules, 2...
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Companies Act |
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Pradhan Mantri Garib Kalyan Deposit Scheme (PMGKDS), 2016 - Clarification
Posted Date : 19-Mar-2017 , 08:19:58 pm | Posted By: Md Irsad Alam
Please refer to our letter IDMD.No.1451/08.03.016/2016-17 dated December 16, 2016 andNotification No. S.O.4061(E) dated December 16, 2016issued by the Government of India about announcement of“Pradan Mantri Garib Kalyan Deposit Scheme (PMGKDS), 2016. It has been brought to our notice that there is lack of clarity amongst investors on the reference number that needs to be quoted onForm Vwhile uploading the same to the Income tax Authorities.
Currently, banks are issuing an acknowledgemen...
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RBI |
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: Disclosures relating to regulatory orders and arbitration matters on websites of Clearing Corporations
Posted Date : 19-Mar-2017 , 12:13:37 am | Posted By: Md Irsad Alam
1. In order to improve transparency in disclosing the regulatory orders and arbitration awards issued by clearing corporations, it has been decided that all regulatory orders i.e. orders against clearing members and arbitration / appellate awards by arbitrators need to be made available to investors.
2. Accordingly, it has been decided that the Clearing Corporations shall post all regulatory orders and arbitration / appellate awards issued since June 20, 2012, on their websites within 30 days. ...
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SEBI |
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Annual Closing of Government Accounts – Transactions of Central / State Governments – Special Measures for the Current Financial Year (2016-17)
Posted Date : 19-Mar-2017 , 12:07:11 am | Posted By: Md Irsad Alam
The Government of India has desired that all government transactions with banks must be accounted for within the same financial year and has requested that certain special arrangements be made for the purpose, as in previous years. Accordingly, all agency banks should keep the counters of their designated branches conducting government business open for government transactions up to 6.00 p.m. on March 30, 2017 and up to 8.00 p.m. on March 31, 2017. All electronic transactions would, however, con...
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RBI |
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Classification of ‘Saree’ under CETA, 1985 - CBEC
Posted Date : 16-Mar-2017 , 09:18:20 am | Posted By: CASANSAAR
Representations have been received from the members of the trade requesting clarification regarding classification of „Saree‟. The issue raised in these representations is whether the goods described as „Saree‟ which has undergone further processing such as embroidery, stitching of lace and tikki etc. and stitched with two or more kinds of fabrics is classifiable as „Saree‟ under Chapter 54 or as made-ups under Chapter 63 of the Central Excise Tariff Act, 1985....
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Excise |
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Disbursal of loan amount in cash
Posted Date : 11-Mar-2017 , 12:18:00 pm | Posted By: CASANSAAR
RBI/2016-17/245
DNBR (PD) CC.No.086/03.10.001/2016-17
March 09, 2017
All NBFCs
Madam/ Sir,
Disbursal of loan amount in cash
Reference is invited to instructions contained in para 37(iii)(b) of Non-Banking Financial Company – Non-Systemically Important Non-Deposit taking Company (Reserve Bank) Directions, 2016 and Non-Banking Financial Company - Systemically Important Non-Deposit taking Company and Deposit taking Company (Reserve Bank) Directions, 2016 which states that high value l...
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RBI |
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Exim Bank's Government of India supported Line of Credit of USD 92.18 million to the Government of Tanzania
Posted Date : 11-Mar-2017 , 12:13:09 pm | Posted By: CASANSAAR
RBI/2016-17/247
A.P. (DIR Series) Circular No. 38
March 09, 2017
To
All Category - I Authorised Dealer Banks
Madam / Sir,
Exim Bank's Government of India supported Line of Credit of USD 92.18
million to the Government of Tanzania
Export-Import Bank of India (Exim Bank) has entered into an agreement on July 10, 2016 with the Government of Tanzania for making available to the...
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RBI |
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Formation of seven new districts in the State of Manipur - Assignment of Lead Bank Responsibility
Posted Date : 11-Mar-2017 , 12:09:22 pm | Posted By: CASANSAAR
RBI/2016-17/248
FIDD.CO.LBS.BC.No.23/02.08.001/2016-17
March 9, 2017
The Chairmen & Managing Directors
All Lead Banks
Dear Sir/Madam,
Formation of seven new districts in the State of Manipur -
Assignment of Lead Bank Responsibility
The Government of Manipur vide Gazette Notification dated December 8, 2016 had notified the creation of seven new districts in the State of Manipur. It has been decided to assign the lead bank responsibility of the seven new districts as detailed b...
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RBI |
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Master Circular on Show Cause Notice, Adjudication and Recovery-reg
Posted Date : 11-Mar-2017 , 10:41:23 am | Posted By: Md Irsad Alam
Kind attention is invited to Ninety two Circulars and Instruction on Show Cause Notices and Adjudication issued by the Board from time to time, placed at the Annexures to this Masteer Circular. These circulars address references from trade and field formations and provide clarity and uniformity on the issues raised. Board undertakes exercise of consolidating these circulars from the time to time so as to ensure clarity and ease of reference. This master circular on the subject of show cause noti...
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Excise |
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withdrawal of exemption of educational institute.
Posted Date : 11-Mar-2017 , 10:27:01 am | Posted By: Md Irsad Alam
In exercise of the powers conferreed by sub-section (1) of section 93 of the Finance Act, 1994, the Central Government, being satisfied that it is neccesary 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) No. 25/2012 Service Tax, dated the 20th June, 2012, published in the Gazette of India, namel:-
In the said notification, in the opening paragraph, in entry 9, in cla...
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Service Tax |
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Gold Monetisation Scheme - RBI
Posted Date : 07-Mar-2017 , 07:17:06 am | Posted By: CASANSAAR
RBI/2016-17/243
DGBA.GAD.No.2294/15.04.001/2016-17
March 6, 2017
All Agency Banks
Dear Sir/Madam
Gold Monetisation Scheme
Please refer to RBIMaster Direction No.DBR.IBD.No.45/23.67.003/2015-16 dated October 22, 2015(updated up to January 21, 2016) on the above subject. In order to operationalise the scheme, we advise the following:
2. In order to have uniformity in reporting, reconciliation...
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RBI |
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Guidelines for launching of prosecution in relation to offences punishable under Customs Act
Posted Date : 07-Mar-2017 , 07:16:08 am | Posted By: CASANSAAR
I am directed to invite the attention of the field formations to the prosecution guidelines issued by the Ministry vide Circular No. 27/2015-Customs dated 23.10.2015 (further amended vide Circular No. 46/2016-Customs dated 04.10.2016) revising the guidelines issued vide order No.394/71/97-CUS (AS) dated 22.06.1999....
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Custom |
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appointment of officer for discharge of various duties
Posted Date : 03-Mar-2017 , 09:32:09 pm | Posted By: Md Irsad Alam
In exercise of the powers conferred by sub-section (1) of section 4 and subsection (1) of section 5 of the Customs Act, 1962 (52 of 1962), the Central Board of Excise and Customs hereby appoints officer to exercise the powers and discharge duties conferred or imposed on officers, for purpose of adjudication of show cause notice....
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Custom |
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Courier Imports and Exports (Clearance) Amendment Regulations, 2017
Posted Date : 03-Mar-2017 , 09:29:58 pm | Posted By: Md Irsad Alam
In exercise of the powers conferred by section 157 of the Customs Act,1962 (52 of 1962), the Central Board of Excise and Customs hereby makes the following regulations, further to amend the Courier Imports and Exports (Clearance) Regulations, 1998, namely:-
These regulations may be called the Courier Imports and Exports (Clearance) Amendment Regulations, 2017.
In the Courier Imports and Exports (Clearance) Regulations, 1998, in regulation 6, in the sub- regulation (3), for the first proviso, t...
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Custom |
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Revised Exchange rate for conversion of foreign currencies.
Posted Date : 03-Mar-2017 , 08:51:45 pm | Posted By: Md Irsad Alam
In exercise of power conferred by section 14 of custom act, 1962, CBEC notified revise rate of exchange for conversion of foreing currencies relating to import and export goods....
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Custom |
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Service tax payable by way of admission to museum
Posted Date : 03-Mar-2017 , 08:45:18 pm | Posted By: Md Irsad Alam
Whereas, Central Government is satisfied that in the period commencing on and from the 1st day of july, 2012 and ending with 31st march, 2015 (hereinafter referred as the said period), according to the practice that was generally prevalent, there was non levy of service tax by way of admission to museum and this service was liable to service tax, in said period, which was not being paid according to the said practice.
Now, therefore, in exercise of power conferred by section 11C of Central Exci...
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Service Tax |
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Extension of benefit of exportation and reimporting of cut and polished diamonds at zero duty
Posted Date : 03-Mar-2017 , 03:05:26 pm | Posted By: Md Irsad Alam
CBEC vide notification extended benefit of exportation and reimportation of cut and polished diamonds at zero duty to authorised offices or agencies in India of laboratories mentioned in paragraph 4.74 of Handbook procedures 2015-20....
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Custom |
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Infrastructure Financing- Definition of 'Infrastructure Lending'
Posted Date : 03-Mar-2017 , 07:52:00 am | Posted By: CASANSAAR
RBI/2016-17/242
DNBR.PD.CC.No.085/03.10.001/2016-17
March 2, 2017
All Non-Banking Financial Companies
Dear Sir/ Madam,
Infrastructure Financing- Definition of 'Infrastructure Lending'
Please refer to the definition of 'Infrastructure Lending' contained in theNon-Banking Financial Company - Systemically Important Non-Deposit taking Company and Deposit taking Company (Reserve Bank) Directions, 2016andNon-Banking Financial Company – Non-Systemically Important N...
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RBI |
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Financial Literacy by FLCs (Financial Literacy Centres) and rural branches - Policy Review
Posted Date : 03-Mar-2017 , 07:50:59 am | Posted By: CASANSAAR
RBI/2016-17/236
FIDD.FLC.BC.No.22/12.01.018/2016-17
March 02, 2017
To Chairman/MD & CEO
Scheduled Commercial Banks
(Including RRBs)
Dear Sir/Madam,
Financial Literacy by FLCs (Financial Literacy Centres) and rural branches - Policy Review
Please refer to ourcircular FIDD.FLC.BC.No.18/12.01.018/2015-16 dated January 14, 2016on guidelines for FLCs and rural branches. In terms of this circular, FLCs and rural branches were advised to conduct two types of camps viz. - Special c...
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RBI |
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Export of cut & polished diamonds with re-import facility at zero duty
Posted Date : 01-Mar-2017 , 10:23:24 pm | Posted By: Md Irsad Alam
In excercise of the powers conferred by sub-section (1) of section 25 of the Custom Act, 1962, the Central Government, being satisfied that it is necessary in the publice interest so to do, hereby makes the following further amendments in the notification of the Government of India No. 9/2012, namely-
in said notification,
(a) After the proviso to condition (v), the following paragraph shall be inserted, namely-
"2. Notwithstanding anything contained herein above, the exemption contained in ...
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Custom |
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Acceptance of e-BRC of DGFT towards proof of realization of sale proceeds for exports with LEO date upto 31.03.2014 under drawback scheme
Posted Date : 01-Mar-2017 , 07:58:04 am | Posted By: CASANSAAR
Attention is invited to Board’s Circular No. 5/2009-Customs dated 2.2.2009 which prescribes Bank Realization Certificate (BRC) as one of the documents that may be submitted to Customs by the exporters as proof of realization of sale proceeds for exports. Further, for exports with LEO date from 01.04.2014 onwards, an electronic system of reconciliation of sale proceeds (RBI-BRC module) is made functional by DG (Systems) in coordination with Reserve Bank of India (RBI), which has been dealt ...
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Custom |
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Classification of articles of paper and printing industry
Posted Date : 24-Feb-2017 , 01:49:51 pm | Posted By: CASANSAAR
...
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Category :
Excise |
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Sovereign Gold Bonds, 2016-17 – Series IV - Operational Guidelines
Posted Date : 24-Feb-2017 , 08:10:03 am | Posted By: CASANSAAR
RBI/2016-17/235
IDMD.CDD.No.2188/14.04.050/2016-17
February 23, 2017
The Chairman & Managing Director
All Scheduled Commercial Banks
(Excluding RRBs)
Designated Post Offices
Stock Holding Corporation of India ltd.(SHCIL)
National Stock Exchange of India Ltd. & Bombay Stock Exchange Ltd.
Dear Sir/Madam,
Sovereign Gold Bonds, 2016-17 – Series IV - Operational Guidelines
This has reference to theGoI notification F.No. 4(16)-B(W&M)/2016andRBI circular IDMD.CDD....
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RBI |
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Online Verification of Cash Transactions, 2016 in ITBA
Posted Date : 23-Feb-2017 , 08:01:38 am | Posted By: CASANSAAR
EFS Instruction No. 61
Tel: 0120-2770029, Fax: 0120-2770452
Email:adg2.systems@incometaxindia.gov.in
DIRECTORATE OF INCOME TAX (SYSTEMS)
ARA Centre, Ground Floor, E-2, Jhandewalan Extension,
Delhi-110055
F. No. DGIT(S)-ADG(S)-2/Online verification of Cash Transactions/157/2016
Dated 21.02.2017
To
The Pr. Chief Commissioner of Income Tax (CCA),
Ahmedabad/Bangalore/Bhopal/Bhubaneswar/Chandigarh/Chennai/Delhi/Guwahati/
Hyderabad/Jaipur/Kochi/Kolkata/Kanpur/Luc...
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Income Tax |
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CBDT amended Section 138 with effect from 23.05.2003
Posted Date : 22-Feb-2017 , 08:38:50 am | Posted By: CASANSAAR
S.0 (E).-In exercise of the powers conferred by sub-section (2) of section 138 of the Income-tax Act, 1961 (43 of 1961), the Central Government, having regard to all the relevant factors, hereby makes the following amendment in the notification of Government of India in the Ministry of Finance, Department of Revenue (Central Board of Direct Taxes) published in the Gazette of India, Part II, Section 3, Sub-section(ii) vide number S.O. 576(E), dated the 23rd of May, 2003, namely:-
In the said n...
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CBDT |
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Services by way of treatment of effluent in the period from the 1st of July 2012 to 31st of March 2015
Posted Date : 21-Feb-2017 , 01:35:47 pm | Posted By: CASANSAAR
Services by way of treatment of effluent in the period from the 1st of July 2012 to 31st of March 2015...
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Category :
Service Tax |
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Issuance of Rupee denominated bonds overseas – Multilateral and Regional Financial Institutions as Investors
Posted Date : 19-Feb-2017 , 08:33:27 pm | Posted By: CASANSAAR
RBI/2016-17/233
A. P. (DIR Series) Circular No.31
February 16, 2017
To
All Authorised Dealer Category – I Banks
Madam/Sir
Issuance of Rupee denominated bonds overseas – Multilateral and Regional
Financial Institutions as Investors
Attention of Authorised Dealer Category-I (AD Category-I) banks is invited to paragraph No. 4 ofA. P. (DIR Series) Circular No. 60 dated April 13, 2016and paragraph No. 3.3.3 ofMaster Direction No.5 dated January 1, 2016on ‘Externa...
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RBI |
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Forward Rate Agreement (FRA) and Interest Rate Swap (IRS) - Withdrawal of Fortnightly return
Posted Date : 19-Feb-2017 , 08:32:06 pm | Posted By: CASANSAAR
RBI/2016-17/232
FMRD.DIRD.13/14.01.019/2016-17
February 16, 2017
To,
All Market Participants
Madam/Sir,
Forward Rate Agreement (FRA) and Interest Rate Swap (IRS) - Withdrawal of Fortnightly return
Attention is invited to theRBI notification ref. no. MPD.BC.187/07.01.279/1999-2000 dated July 07, 1999. As per the notification, banks were advised to submit a fortnightly return on FRA/IRS to Monetary Policy Department with a copy to various RBI departments.
2. In a further step t...
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RBI |
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Repayment of Gold Loan - RBI
Posted Date : 19-Feb-2017 , 08:30:56 pm | Posted By: CASANSAAR
RBI/2016-17/229
DBR.RRB.BC.No. 53/31.01.001/2016-17
February 16, 2017
All Regional Rural Banks
Dear Sir / Madam,
Repayment of Gold Loan
Please refer tocircular RPCD.CO.RRB.BC.No.22/03.05.34/2010-11 dated September 22, 2010wherein Regional Rural Banks (RRBs) were permitted to grant gold loans up to Rs.1.00 lakh with bullet repayment option.
2. On a review, it has been decided to increase the...
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RBI |
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