Interest

The Telecommunication Consumers Education and Protection Fund (Second Amendment) Regulations, 2013

The Telecom Regulatory Authority of India (TRAI) had issued Telecommunication Consumers Education and Protection Fund Regulations, 2007 (6 of 2007) on 15th June 2007. As per the regulation any excess amount collected by service providers from the subscribers to be transferred to the said fund in a separate account being maintained in Corporation Bank. Out… Read More

Tags: BusinessCorporation BankInterestMutual fundQuality of ServiceRegulationTelecom Regulatory Authority of IndiaTRAI

Bank Rate stands adjusted by 25 basis points from 8.50 per cent to 8.25 per cent with effect from May 3, 2013

RBI/2012-13/488 DBOD.No.Ret.BC.91 /12.01.001/2012-13 May 3, 2013 All Scheduled Commercial Banks & Local Area Banks Dear Sir, Bank Rate As announced in the Annual Monetary Policy Statement 2013-14, the Bank Rate stands adjusted by 25 basis points from 8.50 per cent to 8.25 per cent with effect from May 3, 2013. 2.  All penal interest rates on… Read More

Tags: Bank RateBasis pointCommercial bankInterestMonetary policyPercentagePercentage pointReserve requirement

Transfer Pricing: Delay payments by Associated Enterprise does not attract notional interest addition

CLR Editorial Notes: There was a delay in payment of credit between an Organization and its Associated Enterprise (AE). The Organization (assessee) raised invoices on its  AE and gave 30 days of credit for the payments. There was a delay by the AE in making the payments beyond the given credit period. The Transfer Pricing Officer… Read More

Tags: BusinessCommonwealth Law ReportsCredit (finance)Financial servicesIndiaInterestITAT MumbaiMumbaiPaymenttransfer pricing

Revision of interest rates of PPF and Senior Citizens Savings Scheme

RBI/2012-13/458 DGBA.CDD. No. H- 5603 /15.02.001/2012-13 March 28, 2013 The Chairman and Managing Director/Managing Director Head Office, Government Accounts Department State Bank of India/State Bank of Patiala/ State Bank of Bikaner & Jaipur / State Bank of Travancore/ State Bank of Hyderabad/State Bank of Mysore/ Andhra Bank/ Allahabad Bank/Bank of Baroda/Bank of India/ Bank of… Read More

Tags: Bank of IndiaFinancial servicesGovernmentGovernment of IndiaIndiaInterestInterest rateReserve Bank of India

Revision of Interest Rates for Small Savings Schemes With Effect from 1st April 2013

 Based on the decisions taken by the Government on the recommendations of the Shyamala Gopinath Committee for Comprehensive Review of National Small Savings Fund (NSSF), the interest rates for small saving schemes are to be notified every financial year, before 1st April of that year. Accordingly, the rate of interest on various small savings schemes for… Read More

Tags: Fiscal yearGovernmentInterestInterest rateNSSFPercentageScheme

RBI Instruction to Rural Banks, State and Central Co-Op Banks on the change of bank rates

RBI/2012-13/452 RPCD.CO.RRB.RCB.BC. No. 69 /03.05.33/2012-13 March 19, 2013 The Chairmen/Chief Executive Officers, All Regional Rural Banks / State and Central Co-operative Banks Dear Sir/Madam, Bank Rate As announced in the Mid Quarter Review of Monetary Policy 2012-13, the Bank Rate stands adjusted by 25 basis points from 8.75 per cent to 8.50 per cent with effect… Read More

Tags: Bank RateBasis pointCentral bankInterestMonetary policyPercentagePercentage pointReserve requirement

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