RBI Circular - Guidelines on issue of ATM-cum-debit cards
Posted Date : 16-Jul-2015 , 06:50:24 pm | Posted By: Aarti Sharma
RBI/2015-2016/130
DCBR.BPD. (PCB/RCB).Cir.No. 1/16.20.000/2015-16
July 16, 2015
The Chief Executive Officers of
All Primary (Urban) Co-operative Banks/
All State Co-operative Banks (StCBs)/
All District Central Co-operative Banks
Dear Sir/ Madam,
Guidelines on issue of ATM-cum-debit cards
Please refer to ourcircular UBD(PCB) Cir No.6/09.18.300/2007-08 dated July 13, 2007issued to UCBs on the captioned subject andcircular DCBR.CO. RCB.No.BC.29/19.51.008/2014-15 dated April 16, ...
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RBI Circular - Export factoring on non-recourse basis
Posted Date : 16-Jul-2015 , 06:49:31 pm | Posted By: Aarti Sharma
RBI/2015-16/129
A.P. (DIR Series) Circular No.5
July 16, 2015
To
All Authorised Dealers in Foreign Exchange
Madam/ Sir,
Export factoring on non-recourse basis
In order to facilitate exports, Authorised Dealer Category – I (AD Category –I) banks have been permitted to provide ‘export factoring’ services to exporters on ‘with recourse’ basis by entering into arrangements with overseas institutions for this purpose without prior approval from t...
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RBI Circular - Issue of shares under Employees Stock Options Scheme and/or sweat equity shares to persons resident outside India
Posted Date : 16-Jul-2015 , 06:48:37 pm | Posted By: Aarti Sharma
RBI/2015-16/128
A.P. (DIR Series) Circular No.4
July 16, 2015
To
All Category – I Authorised Dealer banks
Madam/Sir,
Issue of shares under Employees Stock Options Scheme and/or sweat equity shares to persons resident outside India
Attention of Authorised Dealer Category – I (AD Category-I) banks is invited to Regulation 8 of the Foreign Exchange Management (Transfer or Issue of ...
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RBi Circular - Deposits placed with NABARD/SIDBI/NHB for meeting shortfall in Priority Sector Lending by Banks-Reporting in Balance Sheet
Posted Date : 16-Jul-2015 , 06:47:27 pm | Posted By: Aarti Sharma
RBI/2015-16/127
DBR.BP.BC.No.31/21.04.018/2015-16
July 16, 2015
All Commercial Banks
(Excluding Regional Rural Banks)
Dear Sir,
Deposits placed with NABARD/SIDBI/NHB for meeting shortfall in Priority Sector Lending by Banks-Reporting in Balance Sheet
Please refer to para 2.1 (v) of ourcircular DBR.No.BP.BC.6/21.04.141/2015-16 dated July 1, 2015- Master Circular: Prudential Norms for Classification, Valuation and Operation of Investment Portfolio by Banks in terms of which banks ...
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RBI Circular - Prudential Norms on Income Recognition, Asset Classification and Provisioning pertaining to Advances – Credit Card Accounts
Posted Date : 16-Jul-2015 , 06:46:15 pm | Posted By: Aarti Sharma
RBI/2015-16/126
DBR.No.BP.BC.30/21.04.048/2015-16
July 16, 2015
All Scheduled Commercial Banks/Non-Banking Financial Companies/Primary (Urban) Co-operative Banks
Dear Sir,
Prudential Norms on Income Recognition, Asset Classification and
Provisioning pertaining to Advances – Credit Card Accounts
Please refer tocircular DBOD.No.BP.BC.78/21.04.048/2013-14 dated December 20, 2013on the captioned subject.
2. In order to bring in greater credit discipline as also to provide o...
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RBI Circular - Alteration in the name of “The Ratnakar Bank Limited” to “RBL Bank Limited” in the Second Schedule to the RBI Act, 1934
Posted Date : 16-Jul-2015 , 06:45:24 pm | Posted By: Aarti Sharma
RBI/2015-16/125
DBR.No.Ret.BC 29 /12.06.47A/2015-16
July 16, 2015
All Scheduled Commercial Banks
Dear Sir,
Alteration in the name of “The Ratnakar Bank Limited” to “RBL Bank Limited”
in the Second Schedule to the RBI Act, 1934
We advise that the name of “The Ratnakar Bank Limited” has been changed to “RBL Bank Limited” in the Second Schedule to the Reserve Bank of India Act, 1934 vide Notification DBR.PSBD.No.8931/16.01.072/2014-15...
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CBDT restricts issue of Manual Refunds by Assessing Officers
Posted Date : 15-Jul-2015 , 09:56:12 pm | Posted By: CASANSAAR
DIRECTORATE OF INCOMETAX(SYSTEMS)
ARA Centre, Ground Floor, E-2, Jhandewalan Extension,
New Delhi-110055
F.No. DGIT(S)/DIT(S)-3/AST/ManualRefunds/85/2015-16Dated: 10/07/2015
To
All the Pro ChiefCommissionerof Income-tax1Chief Commissioner of Income Tax
All the Commissioner of Income-Tax(CO)
Sir/Madam,
Sub: Restriction on Issuance of Manual Refunds by Assessing Officers: Reg.
Kindly refer to the above subject.
2. The functionalities for passing orders u/s143(1) (a)...
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RBI Circular - Auction of Government of India Dated Securities
Posted Date : 15-Jul-2015 , 05:08:00 pm | Posted By: Aarti Sharma
RBI/2015-16/124
Ref. No.IDMD/58/08.02.032/2015-16
July 13, 2015
All Scheduled Commercial Banks
All State Co-operative Banks/All Scheduled Primary
(Urban) Co-operative Banks /All Financial Institutions/
All Primary Dealers.
Dear Sir/Madam,
Auction of Government of India Dated Securities
Government of India has offered to sell (re-issue) four dated securities for notified amount ofRs 15,000crore as per the following details:
Sr No
Security
Notified Amount
...
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Relaxation of additional fees and extension of last date of in filing of forms MGT-7 and AOC-4 under the Companies Act,2013
Posted Date : 15-Jul-2015 , 07:59:45 am | Posted By: CASANSAAR
Relaxation of additional fees and extension of last date of in filing of forms MGT-7 (Annual Return) and AOC-4 (Financial Statement) under the Companies Act,2013....
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Companies Act |
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Extension of time limit for submitting ITR-V form for A.Y. 2013-14 & 2014-15
Posted Date : 14-Jul-2015 , 08:10:59 am | Posted By: CASANSAAR
Extension of time limit for submitting ITR-V form for A.Y. 2013-14 & 2014-15...
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Income Tax |
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Electronic Verification Code (EVC) for electronically filed Income Tax Returnd
Posted Date : 14-Jul-2015 , 07:45:38 am | Posted By: CASANSAAR
Explanation tosub rule (3) of Rule 12of theIncome tax Rules 1962, states that for the purposes of this sub rule “electronic verification code” means a code generated for the purpose of electronic verification of the person furnishing the return of income as per the data structure and standards specified by Principal Director General of Income-tax (Systems) or Director General of Income-tax (Systems). Further,Sub rule (4) of Rule 12of theIncome Tax Rules 1962states that the Principal ...
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DGFT Launches online payment facility for application fees through Credit/ Debit Cards
Posted Date : 11-Jul-2015 , 07:27:44 am | Posted By: CASANSAAR
Government of India
Ministry of Commerce & Industry
Department of Commerce
Directorate General of Foreign Trade
Trade Notice No. 07/2015
Udyog Bhawan, New Delhi
Dated 09. 07. 2015
To
1. All IEC Holders
2. All EPCs / All Chambers of Trade and Industries
3. FIEO/ASSOCHAM/CII
4. All RA’s of DGFT
Subject: Operationalisation of online payments through debit / credit cards.
In keeping with the Digital India vision of Hon'ble Prime Minister, and ...
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RBi Circular - Prepaid Payment Instrument (PPI) guidelines – Introduction of New Category of PPI for Mass Transit Systems (PPI-MTS)
Posted Date : 09-Jul-2015 , 06:44:29 pm | Posted By: Aarti Sharma
RBI/2015-16/123
DPSS.CO.PD.No. 58/02.14.006/2015-16
July 09, 2015
All Prepaid Payment Instrument Issuers, System Providers, System Participants
and all other Prospective Prepaid Payment Instrument Issuers
Madam / Dear Sir
Prepaid Payment Instrument (PPI) guidelines – Introduction of New Category of PPI for Mass Transit Systems (PPI-MTS)
A reference is invited to the Master Circular on Policy Guidelines on Issuance and Operation of Pre-Paid Payment Instruments in India issu...
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RBI Circular - Requirement for obtaining prior approval of RBI in cases of acquisition/ transfer of control of Non-Banking Financial Companies (NBFCs)
Posted Date : 09-Jul-2015 , 06:43:31 pm | Posted By: Aarti Sharma
RBI/2015-16/122
DNBR (PD) CC.No. 065/03.10.001/2015-16
July 09, 2015
All Non-Banking Financial Companies (excluding Primary Dealers)
Dear Sirs,
Requirement for obtaining prior approval of RBI in cases of acquisition/ transfer of control of Non-Banking Financial Companies (NBFCs)
Please refer toDNBS (PD) CC.No.376/03.10.001/2013-14andNotification No. DNBS(PD) 275/GM(AM)-2014 dated May 26, 2014on the ‘Non-Banking Financial Companies (Approval of Acquisition or Transfer of Con...
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RBI Circular - Exim Bank's GoI supported Line of Credit of USD 15.13 million to the Government of Republic of Djibouti
Posted Date : 09-Jul-2015 , 06:42:20 pm | Posted By: Aarti Sharma
RBI/2015-16/121
A.P. (DIR Series) Circular No.3
July 09, 2015
To
All Category - I Authorised Dealer Banks
Madam / Sir,
Exim Bank's GoI supported Line of Credit of USD 15.13 million
to the Government of Republic of Djibouti
Export-Import Bank of India (Exim Bank) has entered into an agreement dated March 9, 2015 with the Government of Republic of Djibouti, for making available to the latter, a Line of Credit (LOC) of USD 15.13 million (USD Fifteen Million One Hundred and T...
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RBI Circular - Data Format for Furnishing of Credit Information to Credit Information Companies and other Regulatory Measures
Posted Date : 09-Jul-2015 , 06:41:23 pm | Posted By: Aarti Sharma
RBI/2015-16/120
DBR.No.CID.BC.28 /20.16.056/2015-16
July 9, 2015
All Scheduled Commercial Banks (excluding RRBs)
All India Notified Financial Institutions (EXIM, NABARD, NHB & SIDBI)
All Credit Information Companies
Dear Sir/Madam
Data Format for Furnishing of Credit Information to Credit Information Companies and other Regulatory Measures
Please refer to ourcircular DBOD.No.CID.BC.127/20.16.056/2013-14 dated June 27, 2014inter alia setting out a Uniform Credit Reporting Fo...
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RBI Circular - Returns to be submitted by NBFCs (Asset Size below Rs. 500 crore)
Posted Date : 09-Jul-2015 , 06:40:30 pm | Posted By: Aarti Sharma
RBI/2015-16/119
DNBS (IT).CC.No. 01/24.01.191/2015-16
July 09, 2015
To CEOs of All NBFCs (excluding RNBCs)
Dear Sir/Madam,
Returns to be submitted by NBFCs (Asset Size below Rs. 500 crore)
Please refer to theDNBR (PD) CC.No. 002/03.10.001/2014-15 dated November 10, 2014on revised Regulatory Framework for NBFCs.
2. As per the revised regulations, all non-deposit taking NBFCs (NBFCs-ND), with assets less than Rs. 500 crore are required to submit an Annual Return. Two new Return ...
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Conditions, Safeguards and Procedures regarding Digitally signed invoices in Central Excise and Service Tax
Posted Date : 08-Jul-2015 , 07:17:25 am | Posted By: CASANSAAR
Government of India
Ministry of Finance
Department of Revenue
Central Board of Excise and Customs
Notification
No. 18/2015-Central Excise (N.T.)
New Delhi, the 6thJuly, 2015
G.S.R. (E).____In pursuance of sub-rule (5) of rule 10 and sub-rule (9) of rule 11 of the Central Excise Rules, 2002 made under section 37 of the Central Excise Act, 1944 (1 of 1944) and sub-rule (5) of rule 5 and sub-rule (2) of rule 4C of the Service Tax Rules, 1994 made under sub-section (1) read with su...
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Service Tax |
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Govt. authorizes 7 public sector companies to issue tax free bonds
Posted Date : 08-Jul-2015 , 07:11:33 am | Posted By: CASANSAAR
Income Tax : Section 10(15), Item (h) of Sub-Clause (iv) of the Income-Tax Act, 1961 - Exemptions - Interest on Bonds/debentures - Notified Bonds...
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Income Tax |
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CBDT releases 32 clarifications on compliance window in Q&A format
Posted Date : 07-Jul-2015 , 06:44:31 am | Posted By: CASANSAAR
The Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015 (hereinafter referred to as ‘the Act’) has introduced a tax compliance provision under Chapter VI of the Act. The Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Rules, 2015 (hereinafter referred to as ‘the Rules’) have been notified. In regard to the scheme queries have been received from the public about the scope of the scheme and the procedure to be follow...
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CBDT |
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CBDT specifies work jurisdiction and role of CIT(Judicial)
Posted Date : 05-Jul-2015 , 10:17:26 am | Posted By: CASANSAAR
IT : Section 268 of the Income-tax Act, 1961 – Allocation of work amongst CIT (Judicial) and their Jurisdiction – Supersession of Instruction No.4, dated...
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CBDT |
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Govt. notifies Black Money Rules; releases 7 Forms including Form 6 for declaration of undisclosed foreign assets
Posted Date : 04-Jul-2015 , 09:13:52 am | Posted By: CASANSAAR
G.S.R. 529 (E).- In exercise of the powers conferred by sub-sections (1) and (2) of section 85 of the Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015 (22 of 2015), the Central Board of Direct Taxes with the approval of the Central Government hereby makes the following rules, namely:-...
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Income Tax |
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RBI Circular - Investment in companies engaged in tobacco related activities
Posted Date : 03-Jul-2015 , 06:12:55 pm | Posted By: Aarti Sharma
RBI/2015-16/116
A.P. (DIR Series) Circular No.2
July 3, 2015
To
All Authorised Persons
Madam/ Sir,
Investment in companies engaged in tobacco related activities
Attention of Authorized Dealer Category-I (AD Category-I) banks is invited to Annex A of Schedule 1 to the Foreign Exchange Management (Transfer or Issue of Security by a Person Resident outside India) Regulations, 2000 notified videNotification No. FEMA.20/2000-RB dated May 3, 2000, andNotification No. FEMA. 242/2012- R...
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Black Money Act would be effective from July 1, 2015
Posted Date : 03-Jul-2015 , 07:41:26 am | Posted By: May I Help You.
S.O. 1790 (E)- Whereas the Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015 (22 of 2015) (hereinafter referred to as the Act) received the assent of the President on 26th May, 2015;
And whereas sub-section (3) of section 1 of the Act provides that save as otherwise provided in the Act, the Act shall come into force on the 1st day of April, 2016;...
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Income Tax |
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RBI Circular - Financial Benchmarks India Pvt. Ltd.(FBIL)- Benchmark Administrator
Posted Date : 02-Jul-2015 , 06:38:11 pm | Posted By: Aarti Sharma
RBI/2015-16/115
FMRD.FMSD.No.03/03.01.006/2015-16
July 02, 2015
All market participants
Dear Sir/Madam,
Financial Benchmarks India Pvt. Ltd.(FBIL)- Benchmark Administrator
Please refer to ourcircular FMD.FSRG.No.102/02.18.002/2013-14 dated April 16, 2014on “Financial Benchmark- Governance Framework for Benchmark Submitters” wherein it was stated that in order to overcome the possible conflicts of interest in the benchmark setting process arising out of the current gov...
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RBI Circular - Applicability of Credit Concentration Norms
Posted Date : 02-Jul-2015 , 06:37:14 pm | Posted By: Aarti Sharma
RBI/2015-16/114
DNBR (PD) CC.No. 064/03.10.001/2015-16
July 02, 2015
All Non-Banking Financial Companies (excluding Primary Dealers)
Madam/Sir
Applicability of Credit Concentration Norms
In terms of section 45IA(7)(I) of the Reserve Bank of India Act, 1934, for calculation of Net Owned Fund (NOF), the loans given to/ investments made in companies in the same group/ subsidiaries by NBFCs, inter alia,...
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RBI Circular - Kisan Vikas Patra, 2014 and Sukanya Samriddhi Account
Posted Date : 02-Jul-2015 , 06:36:13 pm | Posted By: Aarti Sharma
RBI/2015-16/113
DGBA.GAD.No.14/15.02.003/2015-16
July 2, 2015
The Chairman/Chief Executive Officer
Agency Banks Handling the Schemes of Kisan Vikas Patra, 2014
and Sukanya Samriddhi Account
Dear Sir
Kisan Vikas Patra, 2014 and Sukanya Samriddhi Account
Please refer to ourcirculars IDMD (DGBA).CDD.No.3484/15.02.001/2014-15 dated February 09, 2015andIDMD (DGBA).CDD.No.4052/15.02.006/2014-15 dated March 11, 2015regarding Kisan Vikas Patra, 2014 and Sukanya Samriddhi Account respec...
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RBI Circular - Opening of Current Accounts by Banks - Need for Discipline
Posted Date : 02-Jul-2015 , 06:35:33 pm | Posted By: Aarti Sharma
RBI/2015-16/112
DBR.Leg.BC.25./09.07.005/2015-16
July 02, 2015
The Chairman / Chief Executive
All Scheduled Commercial Banks
(excluding RRBs)
Dear Sir,
Opening of Current Accounts by Banks - Need for Discipline
Please refer to ourcircular DBOD.No.Leg.BC.84/09.07.005/2003-04 dated May 15, 2004advising banks to scrupulously ensure that their branches do not open current accounts of entities which enjoy credit facilities (fund based or non-fund based) from the banking system witho...
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RBI Circular - Discount Rate for Computing Present Value of Future Cash Flows
Posted Date : 02-Jul-2015 , 06:34:01 pm | Posted By: Aarti Sharma
RBI/2015-16/111
DBR.No.BP.BC.27/21.04.048/2015-16
July 2, 2015
All Scheduled Commercial Banks
(Excluding Regional Rural Banks)
Dear Sir,
Discount Rate for Computing Present Value of Future Cash Flows
Please refer to paragraph 4.5 ofcircular DBOD.BP.BC.No.99/21.04.132/2012-13 dated May 30, 2013, in terms of which a rate equal to the bank's Benchmark Prime Lending Rate or base rate (whichever is applicable to the borrower) as on the date of restructuring plus the appropriate t...
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RBI Circular - Re-export of unsold rough diamonds from Special Notified Zone of Customs without Export Declaration Form (EDF) formality
Posted Date : 02-Jul-2015 , 06:32:12 pm | Posted By: Aarti Sharma
RBI/2015-16/110
A.P. (DIR Series) Circular No.1
July 02, 2015
To
All Authorised Dealers in Foreign Exchange
Re-export of unsold rough diamonds from Special Notified Zone of
Customs without Export Declaration Form (EDF) formality
Attention of the Authorised Dealers is invited to i) Regulation 3 of theNotification No. FEMA 23/2000-RB dated May 3, 2000viz. Foreign Exchange Management (Export of Go...
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