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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India™s Exports of Computer Services 75.2 per cent of Total Software Services Exports in 2011-12: RBI Survey
The Reserve Bank of India today released, on its website, the data related to the results of Computer Software and Information Technology (IT) Services Exports: 2011-12. The data compiled are based on the annual survey on ˜Computer Software and Information Technology Services Exports™. The survey is intended to provide information on various aspects of computer services exports… Read More
RBI Board meets in Chennai
The Central Board of the Reserve Bank of India met today at Chennai. Dr. D. Subbarao, Governor, Reserve Bank of India, chaired the meeting. Dr. Anil Kakodkar, Shri Kiran Karnik, Prof. M.V. Rajeev Gowda, Dr. Nachiket M. Mor, Shri Y.H. Malegam, Shri Azim Premji, Shri K.M. Birla, Prof. Dipankar Gupta, Shri G.M. Rao, Dr. Indira Rajaraman,… Read More
RBI releases data on ˜Weighted Average Lending Rate (WALR)’ of Scheduled Commercial Banks (SCBs)
The Reserve Bank today released annual time-series data on ˜Weighted Average Lending Rate™ of Scheduled Commercial Banks for the period 1992 to 2012 on its website. The data is based on data reported under Basic Statistical Return 1 - Part A (BSR-1A), in which granular data on borrowal accounts with credit limit more than ` 25,000 till 1998 and more… Read More
Master Circular on Call/Notice Money Market Operations
RBI/2013-14/103 IDMD.PCD. 03/14.01.01/2013-14 July 1, 2013 The Chairmen/Chief Executives of all Scheduled Commercial Banks (excluding RRBs) / Co-operative Banks / Primary Dealers Dear Sir/Madam, Master Circular on Call/Notice Money Market Operations The Reserve Bank of India has, from time to time, issued a number of guidelines/instructions/directives to banks and the Primary Dealers in regard to… Read More
Know Your Customer Norms/Anti-Money Laundering Standards/Combating Financing of Terrorism – Unique Customer Identification Code for Banks Customers in India
RBI/2013-14/122 DNBS(PD).CC.No.351/03.10.42/2013-14 July 4, 2013 All NBFCs-Deposit taking Companies/ NBFC-ND-SI with assets of Rs 25 cr and above Dear Sir/Madam, Know Your Customer (KYC) norms/Anti-Money Laundering (AML) standards/Combating of Financing of Terrorism (CFT) - Unique Customer Identification Code for Banks Customers in India (UCIC) Please refer to our circular DNBS.(PD).CC.No.325/03.10.42/2012-13 dated May 3, 2013 on the captioned subject,… Read More
Anti-Money Laundering/Combating of Financing of Terrorism Standards
RBI/2013-14/120 DBOD. AML.No. 314/14.01.001/2013-14 July 4, 2013 The Chairmen/CEOs of all Scheduled Commercial Banks(Excluding RRBs)/ Local Area Banks / All India Financial Institutions Dear Sir, Anti-Money Laundering (AML)/Combating of Financing of Terrorism (CFT) - Standards Please refer to our letter DBOD. AML.No.12913/14.01.001/ 2012-13 dated March 11, 2013 on risks arising from the deficiencies in AML/CFT regime of… Read More
Payment of interest on overdue public deposits
RBI/2013-14/121 DNBS.PD/CC.No.350/03.02.001/2013-14 July 04, 2013 All NBFCs Dear Sirs, Payment of interest on overdue public deposits Kindly refer to clause (10) of paragraph 4 of Non-Banking Financial Companies Acceptance of Public Deposits (Reserve Bank) Directions, 2007. NBFCs are at times required to freeze the term deposits of customer based on the orders of the enforcement… Read More
Deferred Payment Protocols dated April 30, 1981 and December 23, 1985 between Government of India and erstwhile USSR
RBI/2013-14/119 A.P. (DIR Series) Circular No.03 July 04, 2013 To All Category - I Authorised Dealer Banks Madam / Sir, Deferred Payment Protocols dated April 30, 1981 and December 23, 1985 between Government of India and erstwhile USSR Attention of Authorised Dealer Category-I (AD Category-I) banks is invited to A.P. (DIR Series) Circular No.112 dated June… Read More
Risk Management and Inter-Bank Dealings- Liberalization of documentation requirements for the resident entities in the Indian Forex Market
RBI/2013-14/118 A.P. (DIR Series) Circular No.02 July 04, 2013 To, All Authorised Dealer Category I Banks Madam / Sir, Risk Management and Inter-Bank Dealings- Liberalization of documentation requirements for the resident entities in the Indian Forex Market Attention of Authorized Dealers Category I (AD Category I) banks is invited to A.P. (DIR Series) Circular No. 32… Read More
Foreign Investment in India Guidelines for calculation of total foreign investment in Indian companies, transfer of ownership and control of Indian companies and downstream investment by Indian companies
RBI/2013-14/117 A.P. (DIR Series) Circular No.01 July 04, 2013 To All Category I Authorised Dealer banks Madam/Sir, Foreign Investment in India Guidelines for calculation of total foreign investment in Indian companies, transfer of ownership and control of Indian companies and downstream investment by Indian companies Attention of Authorised Dealer Category I (AD Category-I) banks is… Read More
Identification of Unserved Intimation under section 143 (1) for cases processed prior to 31-03-2010
Hon'ble Delhi High Court vide judgment in case of Court On its Own Motion v. UOI and Ors. in W.P. (C) 2659/2012 dated 14.03.2013 has issued Seven Mandamus for necessary action by income-tax Department one of which is regarding non-enforcement of Demand where no intimation under section 143(1) of Income-tax Act,1961 was sent by field-authorities in refspect of returns which were… Read More
Rectification of mistakes u/s 154 – Manner of disposal of application received for rectification of mistake
Hon'ble Delhi High Court vide Judgment in case of Court On its Own Motion v. UOI and Ors. in W.P. (C) 2659/2012 dated 14.03.2013 has issued several Mandamuses for necessary action by income-tax Department one of which is regarding maintenance of "Rectification Register" in which details like receipt of applications under section 154 of the IT Act,… Read More
Income-tax (9th Amendment) Rules, 2013 – Insertion of Rule 6DDC AND FORM NO. 3 BC
GOVERNMENT OF INDIA MINISTRY OF FINANCE ( DEPARTMENT OF REVENUE ) NOTIFICATION No. 51/2013 New Delhi, the 4th July, 2013 S.O. 2017 (E). -In exercise of the powers conferred by clause (e) of the proviso to clause (5) of section 43 read with section 295 of the Income - tax Act, 1961 (43 of 1961), the Central Board of Direct Taxes… Read More
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