Others - Corporate Law Reporter

RBI and GoI taking steps for Improving Customer Services in Public Sector Banks

Public Sector Banks accounted for nearly two third of the customer complaints received during last financial year. A total number of 72,889 complaints were received in the offices of the Banking Ombudsmen spread across the country against the Scheduled Commercial Banks during the period from June, 2011 to July, 2012, out of which 48,180 were… Read More

TRAI seeks views on Fifth Amendment to the Telecom Mobile Number Portability Regulations 2009

The Telecom Regulatory Authority of India has issued draft amendment to the Mobile Number Portability Regulations for the consultation of the stake holders. Earlier, TRAI had issued the Telecommunication Mobile Number Portability Regulations, 2009 (8 of 2009) dated 23rd September, 2009 laying down the basic business process framework for implementation of mobile number portability in… Read More

TRAI releases Consultation Paper on Universal Single Number Based Integrated Emergency Communication and Response System

The Telecom Regulatory Authority of India (TRAI) has released a Consultation Paper on Universal Single Number Based Integrated Emergency Communication and Response System (IECRS) Most emergencies usually involve direct risk to health, life, property or environment and therefore require urgent intervention. Presently in India, different emergency communication & response systems are in place for police,… Read More

Standardization and Enhancement of Security Features in Cheque Forms/Migrating to CTS 2010 standards

RBI/2012-13/444 DPSS.CO.CHD.No. 1622/04.07.05/2012-13 March 18, 2013 The Chairman and Managing Director / Chief Executive Officer All Scheduled Commercial Banks including RRBs / Urban Co-operative Banks / State Co-operative Banks / District Central Co-operative Banks/Local Area Banks Madam / Dear Sir Standardization and Enhancement of Security Features in Cheque Forms/Migrating to CTS 2010 standards A reference… Read More

Report on SEZs notified under SEZ Act, 2005

In addition to seven Central Government Special Economic Zones (SEZs) and 12 State/Private Sector SEZs set up prior to the enactment of SEZ Act, 2005, formal approval has been accorded to 577 proposals out of which 385 SEZs have been notified. A total of 166 SEZs are exporting. Statement containing State-wise distribution of SEZs is annexed. Setting… Read More

Department of Electronics and Information Technology to give Preference to Domestically manufactured IT equipments

In terms of the policy for providing preference to domestically manufactured electronic products in procurement due to security considerations and in Government procurement, the Department of Electronics and Information Technology (DeitY) has issued two notifications. Notification No. 8(41)/2012-IPHW dated 17.12.2012 provides preference to domestically manufactured Desktop PCs and Dot Matrix Printers and Notification No. 8(41)/2012-IPHW… Read More

Implementation on National Child Health Programme under Under National Rural Health Mission

Under National Rural Health Mission, the following interventions are being implemented to improve child health situation in the country: 1. Promotion of Institutional Delivery through JananiSurakshaYojana (JSY) and JananiShishuSurakshaKaryakram (JSSK): Promoting Institutional delivery to ensure skilled birth attendance is a key to reducing both maternal and neo-natal mortality. JSY incentivizes pregnant women to opt for… Read More

Health Insurance Scheme: Over 3.41 Crore Cards Issued

As informed by the Insurance Regulatory and Development Authority (IRDA), a study conducted by the National Council of Applied Economic Research, on behalf of IRDA, and based on the survey of 30,200 respondents spread over 29 States and Union Territories, indicate that with regard to health insurance, the level of awareness is quite low since… Read More

GoI Statement on Steps to Check Inflow of Illegal Money

Reserve Bank of India (RBI) has issued comprehensive instructions/guidelines to banks on Know Your Customer (KYC) norms/Anti-Money Laundering (AML) standards/Combating of Financing of Terrorism (CFT)/Obligation of banks under PMLA, 2002. Also under PMLA 2002, the reporting entities, including banks, financial institutions and intermediaries of securities market, payment system operators and authorized persons which include Money… Read More

Government Steps to Tackle Black Money Stashed Abroad

The Government has been receiving a number of representations from public, demanding disclosure of the names of black money depositors in banks located abroad. Since the information received from the Foreign Governments is covered by the confidentiality provisions of Double Taxation Avoidance Agreements (DTAAs) and Tax Information Exchange Agreements (TIEAs), the Indian government cannot disclose… Read More

Case Filed with Economic Officers Wing against Singapore Telecommunications Limited for violation of India Telegraph Act

During a routine inspection carried out by Department of Telecommunications (DoT), it was found that an unlicensed foreign entity M/s Singapore Telecommunications Limited (STL) was providing international Private Lease Circuits (IPLC) to the customers in India and issuing bills to the customers in India resulting into loss of revenue to the Government. M/s STL had… Read More

Central Administrative Tribunal urged to improve its Efficiency – Propasals to Amend CAT Act under Consideration

Union Minister of State for Personnel, Public Grievances and Pensions Shri V Narayansamy said that there is an urgent need to strengthen Central Administrative Tribunal( CAT) and make it more effective. Speaking as Special Guest at the daylong All India Conference of the members of Central Administrative Tribunal here today he said to streamline the… Read More

GoI clarification on Electoral Trusts Scheme

The Government has notified the Electoral Trusts Scheme, 2013 vide Notification No. S.O.309(E) dated 31st January, 2013. Beside rule 17CA for functioning of electoral trusts for the purpose of section 13B of the Income-tax Act, 1961 has also been notified vide Notification No. S.O. 308(E) dated 31st January, 2013. The scheme and the rules provide… Read More