Monetary Policy Statement for 2013-14 w.r.t Distribution of Banknotes and Coins

RBI/2013-14/322 DCM (Plg) No. G - 14/10.65.03/2013-14 October 10, 2013 The Chairman & Managing Director / Chief Executive Officer (All Scheduled Commercial banks including RRBs) Madam/ Dear Sir, Monetary Policy Statement for 2013-14-Distribution of Banknotes and Coins Alternative Avenues Please refer to Para 110 of the Monetary Policy Statement 2013-14 wherein it was stated that With a… Read More

Tags: BanknoteBusinessCash in TransitCITCoinCommercial bankMonetary policyPara

RBI Clarification on Lending against gold

RBI/2012-13/522 RPCD.CO.RCB.BC.No. 77 /07.51.014/2012-13 June 06, 2013 The CEOs of all State and Central Co-operative Banks Dear Sir, Lending against gold Please refer to paragraph 98 of the Monetary Policy Statement 2013-14 announced on May 3, 2013 (extract enclosed) on lending against gold, proposing to restrict the facility of advances against the security of gold… Read More

Tags: Central bankCoinGold coinGold exchange-traded productJewelleryLoanMonetary policyReserve Bank of India

Record Performance of SPMCIL in Production of Bank Notes, Coins and Security Products During 2012-13

Security Printing & Minting Corporation of India Ltd. (SPMCIL) has achieved all the targets with regard to production of Bank Notes, Coins, Security Products (Passports, NJSPs, Postal Products and other Security Products) and production of the Raw Materials (Security Inks and Security Paper) during the year 2012-13. It has not only met with the original… Read More

Tags: BanknoteBusinessCoinHoshangabadIndiaMintPaper MillSecurity printing

Clarification on Amendment to Section 206-C of Income Tax Act

Clarification on Amendment to Section 206-C of Income Tax Act dealing with Tax Collection at Source (TCS) on Sale of Bullion or Jewellery in Cash: Currently, sale in cash of bullion (excluding coin or any other article weighing 10 grams or less) in excess of Rs 2 lakh or jewellery in excess of Rs.5 lakh… Read More

Tags: BullionCoinGold coinJewelleryOuncePrecious metal

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