eMinds Legal Advocates & Solicitors
eMinds Legal is a Corporate Law Firm based in Gurgaon, India specializing in Corporate Legal, Corporate Secretarial and Compliance. The Firm comprises of a team of Corporate Lawyers and Company Secretaries with in-depth subject matter knowledge and participative industry experience of over 15 years.
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RBI releases Data on India™s Invisibles for First and Second Quarter (April-June and July-September) of 2014-15
The Reserve Bank today released data on India's invisibles as per the IMF's Balance of Payments and International Investment Position Manual (BPM6) format for April-June 2014 and July-September 2014. Sangeeta Das Director Press Release : 2014-2015/1280 Read More
FM tables the much long awaited GST bill in Lok Sabha
The Goods and Service Tax ('GST') is a Value Added Tax (VAT) aimed at creating a single tax for goods and services across the country as it will replace all indirect taxes levied on goods and services by the Central and State Governments. The Finance Minister, Arun Jaitley, tabled the long-pending GST bill in 'Lok… Read More
Special Deposit Scheme 1975 Payment of interest for the calendar year 2014
RBI/2014-15/350 IDMD (DGBA).CDD.No.2600/15.01.001/2014-15 December 12, 2014 The Chairman & 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 Allahabad Bank / Bank of Baroda / Bank of India /… Read More
Foreign Exchange Management (Deposit) Regulations, 2000 – Exemption thereof
RBI/2014-15/360 A.P. (DIR Series) Circular No.51 December 17, 2014 To All Category - I Authorised Dealer Banks Madam / Sir, Foreign Exchange Management (Deposit) Regulations, 2000 - Exemption thereof Attention of Authorised Dealer Category-I (AD Category-I) banks is invited to Regulation 4(5) of the Foreign Exchange Management (Deposit) Regulations, 2000, notified vide Notification No. FEMA… Read More
RBI releases Data on India™s International Trade in Services: October 2014
The Reserve Bank of India today released the data on India's International Trade in Services for October 2014. The value of exports and imports of services during October 2014 was: Table: International Trade in Services (US$ Million) Month Receipts (Exports) Payments (Imports) July 2014 13,344 6,822 August 2014 12,242 6,767 September 2014 12,940 6,174 October… Read More
Flexible Structuring of Existing Long Term Project Loans to Infrastructure and Core Industries
RBI/2014-15/354 DBR.No.BP.BC.53/21.04.132/2014-15 December 15, 2014 The Chairman and Managing Director/Chief Executive Officer All Scheduled Commercial Banks (Excluding Local Area Banks and Regional Rural Banks) Dear Sir, Flexible Structuring of Existing Long Term Project Loans to Infrastructure and Core Industries Please refer to our circular DBOD.No.BP.BC.24/21.04.132/2014-15 dated July 15, 2014 on Flexible Structuring of Long Term… Read More
Companies ( Amendment) Bill, 2014 to be placed in Lok Sabha
A phenomenal move has taken place as the Union cabinet to place the Companies (Amendment) Bill, 2014 in the Lok Sabha for discussion. Attached is the copy of the Bill to be presented in the Lok Sabha which can be accessed below. Companies (Amendment) Bill, 2014 Read More
Foreign Direct Investment (FDI) in India Review of FDI policy Sector Specific conditions- Railway Infrastructure
RBI/2014-15/341 A.P.(DIR Series) Circular No.47 December 8, 2014 To All Category I Authorised Dealer banks Madam/Sir, Foreign Direct Investment (FDI) in India Review of FDI policy Sector Specific conditions- Railway Infrastructure Attention of Authorised Dealer Category I (AD Category-I) banks is invited to Annex A and Annex B of Schedule 1 to the Foreign Exchange… Read More
Introduction of Digital Life Certificates for Pensioners
RBI/2014-15/343 DGBA.GAD.H- 2529/45.01.001/2014-15 December 9, 2014 The Chairman/Chief Executive Officer All agency banks Dear Sir Introduction of Digital Life Certificates for Pensioners As per the present scheme for payment of government pension, pensioners are required to furnish a life certificate in November every year to the bank concerned for continued receipt of pension without interruption.… Read More
Levy of Penal Charges on Non-maintenance of Minimum Balances in Savings Bank Accounts
RBI/2014-15/349 DCBR.BPD (PCB/RCB) Cir. No. 3/12.05.001/2014-15 December 12, 2014 The Chief Executive Officer All Primary (Urban) Co-operative Banks / State and Central Co-operative Banks (St CBs / CCBs) Madam / Dear Sir, Levy of Penal Charges on Non-maintenance of Minimum Balances in Savings Bank Accounts Please refer to UBD circular UBD.PCB.Cir.No.15/12.05.001/2008-09 dated September 18, 2008 on ˜Display… Read More
Tax Tribunal Rules against Vodafone, says Transfer Pricing case lies within IT’s jurisdiction
British telecom giant Vodafone's tax issues continue, with the tax appellate tribunal which decided that the case was very well within the jurisdiction of the Income Tax department in the Rs 8,500 crore transfer pricing tax dispute involving the sale of its call centre business to Hutchison in 2007. The ITAT was hearing a 2012 plea of Vodafone India Services… Read More
Rural Infrastructure Development Fund (RIDF) & Other Funds
RBI/2014-15/345 FIDD.CO.Plan.BC.46/04.09.59/2014-15 December 10, 2014 The Chairman/Managing Director/ Chief Executive Officer (All Scheduled Commercial Banks excluding RRBs) Dear Sir/Madam, RIDF and other funds Please refer to our Circular RPCD.CO.Plan.BC.66/04.09.54/2011-12 dated March 16, 2012 on the above subject. In this connection, it has been decided to restructure the classification of shortfall and interest payable to banks falling in… Read More
Overseas Investments by Alternative Investment Funds (AIF)
RBI/2014-2015/344 A.P.(DIR Series) Circular No.48 December 09, 2014 To All Category-I Authorised Dealer Banks Madam / Sir, Overseas Investments by Alternative Investment Funds (AIF) Attention of the Authorised Dealer (AD - Category I) banks is invited to Regulation 26 of Notification No. FEMA.120/RB-2004 dated July 7, 2004 [Foreign Exchange Management (Transfer or Issue of any Foreign Security)… Read More
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