Legal Updates - Corporate Law Reporter

RBI introduces Cross Currency Futures and Exchange Traded Cross Currency Option Contracts

The Reserve Bank of India has issued guidelines for introduction of cross currency futures and exchange traded cross currency option contracts in the currency pairs of Euro (EUR)-US Dollar (USD), Pound Sterling (GBP)-USD and USD- Japanese Yen (JPY). Further, exchange traded option contracts in the currency pairs of EUR-Indian Rupee (INR), GBP-INR and JPY-INR have… Read More

RBI Intervention in Exchange Traded Currency Derivatives (ETCD)

The Reserve Bank of India intervenes in the domestic foreign exchange market as and when required in order to manage excessive volatility and to maintain orderly conditions in the market. As a further measure it has been decided to intervene in the Exchange Traded Currency Derivatives (ETCD) segment, if required. The data for the ETCD… Read More

Review of Annual Custody / Issuer Charges

CIRCULAR CIR/MRD/DP/18/2015 December 09, 2015 To, The Depositories Dear Sir/ Madam, Subject: Review of Annual Custody / Issuer Charges 1. SEBI vide circular No. MRD/DoP/SE/Dep/Cir-4/2005 dated January 28, 2005 has allowed the custody/issuer charges to be collected by the depositories from the issuers in the manner specified therein. Subsequently, the charges and the methodology were… Read More

Monthly Development Report for Commodity Derivative Exchanges

CIRCULAR CIR/CDMRD/DEA/4/2015 December 9, 2015 To The Managing Directors / Chief Executive Officers Of all Commodity Derivatives Exchanges Dear Sir / Madam, Sub: Monthly Development Report for Commodity Derivative Exchanges 1. The Commodity Derivative Exchanges are advised to submit a Monthly Development Report, as per the prescribed format, from the month of April, 2015 onwards… Read More

Outsourcing by Depositories

CIRCULAR CIR/MRD/DP/19/2015 December 09, 2015 To, The Depositories, Dear Sir / Madam, Subject: Outsourcing by Depositories 1. SEBI has vide circular CIR/MIRSD/24/2011 dated December 15, 2011 prescribed Guidelines on Outsourcing of Activities by Intermediaries. These guidelines list out certain principles for outsourcing to be followed by all the intermediaries registered with SEBI. 2. The Depository… Read More

Report on the Revenue Neutral Rate and Structure of Rates for the Goods and Services Tax (GST)

Full Report on the Revenue Neutral Rate and Structure of Rates for the Goods and Services Tax (GST) by the Committee headed by the Chief Economic Adviser (CEA), Dr Arvind Subramanian. Report on the Revenue Neutral Rate and Structure of Rates for the Goods and Services Tax (GST) Read More

Representation on Draft Trade Marks Rules, 2015

ICSI/TMA/2015 December 2, 2015 The Additional Secretary to the Government of India Ministry of Commerce & Industry Department of Industrial Policy & Promotion Udyog Bhawan New Delhi -110011 Dear Sir, Sub: Request for modification in Rule 147 of the Draft Trade Marks Rule, 2015 in alignment with the existing provision of Rule 150 of the… Read More

Income-tax (18th Amendment) Rules, 2015

Government of India Ministry of Finance Department of Revenue [Central Board of Direct Taxes] Income-tax Notification New Delhi, dated 2nd December, 2015 G.S.R. 923(E).─ In exercise of the powers conferred by section 282 read with section 295 of the Income-tax Act, 1961 (43 of 1961), the Central Board of Direct Taxes hereby makes the following… Read More

Interest Equalisation Scheme on Pre and Post Shipment Rupee Export Credit

RBI/2015-16/259 DBR.Dir.BC.No.62/04.02.001/2015-16 December 4, 2015 All Scheduled Commercial Banks (excluding RRBs) Dear Sir/Madam, Interest Equalisation Scheme on Pre and Post Shipment Rupee Export Credit The Government of India has announced the Interest Equalisation Scheme on Pre and Post Shipment Rupee Export Credit to eligible exporters. The scheme is effective from April 1, 2015. The details… Read More

Anti-Money Laundering (AML)/ Combating of Financing of Terrorism (CFT) – Standards

RBI/2015-16/258 DBR. AML. No. 7312/14.01.001/2015-16 December 3, 2015 The Chairpersons/ CEOs of all Scheduled Commercial Banks/ Regional Rural Banks/ Local Area Banks/ All India Financial Institutions/ all NBFCs/ All Primary (Urban) Co-operative Banks /State and Central Co-operative Banks (StCBs / CCBs) /All Payment System Providers/ System Participants and Prepaid Payment Instrument Issuers/ All authorised persons… Read More

Regional Rural Banks – Priority Sector Lending – Targets and Classification

RBI/2015-16/257 FIDD.CO.Plan.BC.No.14/04.09.01/2015-16 December 3, 2015 The Chairman All Regional Rural Banks Dear Sir/Madam, Regional Rural Banks - Priority Sector Lending – Targets and Classification During the last decade, Regional Rural Banks (RRBs) have undergone significant structural and operational changes, be it two-phased amalgamation, implementation of CBS platform or recapitalization, inter alia. Considering the growing significance… Read More

Income-tax deduction from salaries during the Financial Year 2015-16 under section 192 of the Income-tax Act, 1961

CIRCULAR NO : 20/2015 F.No. 275/192/2015-IT(B) Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes North Block, New Delhi Dated the 2nd December, 2015 SUBJECT: INCOME-TAX DEDUCTION FROM SALARIES DURING THE FINANCIAL YEAR 2015-16 UNDER SECTION 192 OF THE INCOME-TAX ACT, 1961 Reference is invited to Circular No.17/2014 dated 10.12.2014… Read More

Rate of exchange of conversion of the foreign currency with effect from 4th December, 2015

GOVERNMENT OF INDIA MINISTRY OF FINANCE (DEPARTMENT OF REVENUE) (CENTRAL BOARD OF EXCISE AND CUSTOMS) Notification No. 136/2015 - Customs (N.T.) Dated the 3rd December, 2015 In exercise of the powers conferred by section 14 of the Customs Act, 1962 (52 of 1962), and in super session of the notification of the Central Board of Excise… Read More