Security and Risk Mitigation Measures for Card Present and Electronic Payment Transactions Issuance of EMV Chip and PIN Cards
RBI/2015-16/163 DPSS.CO.PD.No.448/02.14.003/2015-16 August 27, 2015 All Scheduled Commercial Banks including RRBs / Co-operative Banks / State Co-operative Banks / Central Co-operative Banks / Authorised Card Payment Networks Dear Madam / Sir, Security and Risk Mitigation Measures for Card Present and Electronic Payment Transactions Issuance of EMV Chip and PIN Cards A reference is invited to… Read More
Detection of Counterfeit Notes
RBI/2015-16/162 DCM (FNVD) No. 776/16.01.05/2015-16 August 27, 2015 The Chairman / Managing Director / Chief Executive Officer All Banks Madam / Sir, Detection of Counterfeit Notes Please refer to our Circular DCM (FNVD) No. 5840/16.01.05/2012-13 dated June 27, 2013 on Detection and Reporting of Counterfeit Notes. The procedure for detection of counterfeit notes has been reviewed in… Read More
Streamlining flow of credit to Micro and Small Enterprises (MSEs) for facilitating timely and adequate credit flow during their ˜Life Cycle™
RBI/2015-16/160 FIDD.MSME & NFS.BC.No.60/06.02.31/2015-16 August 27, 2015 All Scheduled Commercial Banks (Excluding Regional Rural Banks) Dear Sir / Madam, Streamlining flow of credit to Micro and Small Enterprises (MSEs) for facilitating timely and adequate credit flow during their ˜Life Cycle™ Micro and small units are more prone to facing financial difficulties during their Life Cycle… Read More
Supreme Court seeks action strategy against girl trafficking
The Supreme Court has initiated and asked the Central Government to come out with an action plan to prevent trafficking of girls for sexual exploitation, their rescue and rehabilitation after deliberating with all the states. It has also asked the Centre to discuss the report of the National Legal Services Authority (NALSA) on prevention, rescue… Read More
FSSAI makes a move to notify the draft food guidelines
The Food Safety & Standards Authority of India (FSSAI) has set in motion the process of notifying guidelines for proprietary foods, health supplements and additives, which were not covered under the food safety regulations of 2011. The setback of the 2011 regulations are that it covers only 377 food items, implying that only these products… Read More
CBEC issues clarification relating to waiver of issuance of SCN and conclusion of proceedings in Service tax and Central Excise
The Central Board of Excise and Customs has issued clarification relating to waiver of issuance of SCN and conclusion of proceedings in Service tax and Central Excise dated 18th August, 2015. Please click on the below link to access the Notification. CBEC issues clarification relating to waiver of issuance of SCN and conclusion of proceedings in… Read More
Guidance Note on SEBI (Prohibition of Insider trading) Regulations, 2015
The Securities and Exchange Board of India issued SEBI (Prohibition of Insider trading) Regulations, 2015 dated 15th January, 2015 which came into effect from 15th May, 2015. Subsequently, SEBI received certain queries from the stakeholders seeking guidance on the interpretation of some provisions of the regulations and SEBI has powers to issue such clarifications vide… Read More
Majority not aware of sexual harassment at workplace legislation
Even though the government is trying hard to tap the employers not adhering to law pertaining to sexual harassment of women at workplace, a huge mass of the private sector is yet to have any awareness about the regulation. A recent survey carried out on compliance of the Sexual Harassment of Women at Workplace (Prevention,… Read More
CBDT enables e-Filing of Form No. 61B
The e-Filing of Form No. 61B relating to Statement of Reportable Account u/s 285BA(1) of the Income-tax Act, 1961 has been enabled for Registration and Submission of Nil statement. Reporting Entities are requested to register in the e-Filing portal post login > My Account > Register as Reporting Financial Institution. After successful Registration, for submission… Read More
Government approves pact with Seychelles to curb black money operations
The cabinet approved the ratification of an agreement between India and the Seychelles for exchange of information on taxes, which is expected to help in the fight against unaccounted wealth. India has already signed an inter governmental agreement with the US to implement Foreign Tax Account Compliance Act (FATCA) which is considered to be as… Read More
Circular on Implementation of the Multilateral Competent Authority Agreement and Foreign Account Tax Compliance Act
Circular on Implementation of the Multilateral Competent Authority Agreement and Foreign Account Tax Compliance Act Read More
Workshop on Dispute Resolution and ADR Mechanism on 28th August, 2015 at Mumbai
ADR mechanism and Arbitration has gradually but surely established itself as a preferred dispute resolution mechanism in India and in the world. It gained significant importance as boiler plate clause in all most all corporate commercial agreements. No commercial contract is considered complete without an arbitration agreement incorporated. VCCircle upcoming workshop on dispute resolution and… Read More
Foreign Direct Investment Reporting under FDI Scheme on the e-Biz platform
RBI/2015-16/157 A.P. (DIR Series) Circular No. 9 August 21, 2015 To All Category - I Authorised Dealer Banks Madam / Sir, Foreign Direct Investment Reporting under FDI Scheme on the e-Biz platform Attention of Authorised Dealers Category-I (AD Category - I) banks is invited to the provisions of the Foreign Exchange Management (Transfer or Issue… Read More
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