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Pernicious practices of select banks deterring customer protection and accounting integrity
RBI/2013-14/292 DBS.CO.PPD No. 3578 /11.01.005/2013-14 September 17, 2013 The Chairman/Chief Executive All Scheduled Commercial Banks (Excluding RRBs) / Local Area Banks Madam/Dear Sir, Pernicious practices of select banks deterring customer protection and accounting integrity Please refer to our circular DBS.CO.PPD No. 17882/11.01.005/2012-13 dated June 19, 2013, wherein we had observed certain disquieting features in certain practices/products… Read More
Export Credit in Foreign Currency
RBI/2013-14/291 DBOD.Dir.BC.No. 57 /04.02.001/2013-14 September 25, 2013 All Scheduled Commercial Banks and Exim Bank (excluding RRBs) Dear Sir/ Madam, Export Credit in Foreign Currency Banks extend export credit in Indian Rupees as well as in foreign currency, such as Pre Shipment Credit in Foreign Currency (PCFC) and Post Shipment Credit in Foreign Currency (PSCFC), as… Read More
Seventh Central Pay Commission Recommendations likely to be implemented w.e.f.1st January, 2016
The Finance Minister Shri P.Chidambaram in a statement said here today that the Prime Minister has approved the constitution of the Seventh Central Pay Commission. The fourth, fifth and sixth Central Pay Commissions™ recommendations were implemented as follows: 4th CPC: 1.1.1986 5th CPC : 1.1.1996 6th CPC : 1.1.2006 The average time taken by a Pay Commission to submit its… Read More
TRAI Releases Recommendations on full Mobile Number Portability
Telecom Regulatory Authority of India (TRAI) here today released recommendations on ˜Full Mobile Number Portability (Pan-India Number Portability)™ in the country. In accordance with the provisions contained in the National Telecom Policy-2012 regarding One Nation- Full Mobile Number Portability, TRAI received a reference from the DoT vide its letter dated 27th Dec 2012, seeking the… Read More
Operationalization of Infrastructure Debt Funds – Removal of certain impediments
The Cabinet Committee on Economic Affairs has approved the following steps to promote the operationalization of Infrastructure Debt Funds (IDFs): (a) Capping of the annual Guarantee Fee payable to the Concession Authority at 0.05% p.a. of outstanding debt financed by the IDF NBFC (Non Banking Financial Companies) for the first three years of operation of… Read More
The Parliament (Prevention of Disqualification) Amendment Bill, 2013 Receives Presidential Assent
The Parliament (Prevention of Disqualification) Amendment Bill, 2013 Receives the Assent of the President Published in the Gazette of India as Act No. 28 of 2013 The Parliament (Prevention of Disqualification) Amendment Bill, 2013 has received the assent of the President of India. It has now been published in the Gazette of India, Extraordinary, Part-II,… Read More
The Representation of people (Amendment) Bill, 2013 receives the Presidential Assent
The Representation of people (Amendment) Bill, 2013 Receives the Assent of the President Published in the Gazette of India as Act No. 29 of 2013 The Representation of People (Amendment) Bill, 2013 has received the assent of the President of India. It has now been published in the Gazette of India, Extraordinary, Part-II, Section-1, dated… Read More
The Wakf (Amendment) Bill, 2013 Receives the Assent of the President
The Wakf (Amendment) Bill, 2013 Receives the Assent of the President Published in the Gazette of India as Act No. 27 of 2013 The Wakf (Amendment) Bill, 2013 has received the assent of the President of India. It has now been published in the Gazette of India, Extraordinary, Part-II, Section-1, dated the 23rd September 2013… Read More
RBI Issues Clarifications Regarding Applicability of Revised ODI Guidelines
RBI Issues Clarifications Regarding Applicability of Revised Guidelines in Respect of Overseas Direct Investment (ODI) to Facilitate Outward Investment Requirements of the Indian Companies Reserve Bank of India (RBI) has issued certain clarifications vide AP (DIR Series) Circular No. 30 dated September 04, 2013 with respect to the applicability of the revised guidelines in respect… Read More
Trade Credits for Import into India
RBI/2013-14/290 A.P. (DIR Series) Circular No. 53 September 24, 2013 To, All Category - I Authorised Dealer Banks Madam / Sir, Trade Credits for Import into India Attention of Authorized Dealer Category - I (AD Category - I) banks is invited to A.P. (DIR Series) Circular No. 87 dated April 17, 2004, A.P. (DIR Series) Circular No.… Read More
Financial Inclusion top in RBI’s agenda
RBI appoints Committee on Comprehensive Financial Services for Small Businesses and Low-Income Households to frame a detailed vision on financial inclusion. The Reserve Bank of India today announced appointment of a Committee on Comprehensive Financial Services for Small Businesses and Low-Income Households under the Chairmanship of Shri Nachiket Mor, Member on the Central Board of… Read More
RBI extends the date for receipt of comments on the Discussion Paper on ˜Banking Structure in India The Way Forward™
The last date for receipt of comments on the issues raised in the Discussion Paper on ˜Banking Structure in India The Way Forward™ has been extended from September 30, 2013 to October 31, 2013. The comments may be forwarded to the Principal Chief General Manager, Department of Banking Operations and Development, Reserve Bank of India,… Read More
Filing of online stock statement as of 31st March ’13 in DVAT Form Stock 1 stands withdrawn with immediate effect
(TO BE PUBLISHED IN PART IV OF THE DELHI GAZETTE EXTRAORDINARY) GOVERNMENT OF NATIONAL CAPITAL TERRITORY OF DELHI DEPARTMENT OF TRADE & TAXES VYAPAR BHAWAN : I.P.ESTATE: NEW DELHI -110 002 No.F.7(433)/Policy-II/VAT/2012/PF/ 817-828 … Read More
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