The Ministry of Information and Broadcasting has requested TRAI once again to expedite its comments on the reference made earlier to the body regarding Foreign Investment limits in the Broadcasting Sector. In its communication to TRAI, the Ministry has sought comments regarding the paper prepared by the Ministry of Finance relating to revision in existing… Read More
The Government has already framed a comprehensive policy, namely, the National Policy for Containment of Antimicrobial Resistance, to address the problem of multi-drug resistance due to widespread and indiscriminate use of antimicrobial / antibiotic drugs in the country. The policy was developed by a Task Force constituted under the chairmanship of Director General of Health… Read More
The Reserve Bank of India has directed two Non-Banking Financial Companies (NBFCs), viz., Muthoot Fincorp Ltd. (MFCL) and Manappuram Finance Ltd. (MAFIL) to stop allowing the use of its premises / branches to accept deposits from public by their associate unincorporated bodies. Muthoot Estate Investment (MEI), was collecting public deposits through the branches of MFCL… Read More
Reserve Bank of India (RBI) has informed that no instance of damage of currency notes in various public sector banks across the country have been brought to their notice in the recent past. However, during the year 2010 currency notes amounting to Rs. 3.75 crores kept in Currency Chest at SBI Fatehpur, Barabanki (U.P.) were… Read More
Reserve Bank of India (RBI) has notified that the Aadhaar Card is a valid proof for opening of a bank account under the Know Your Customer (KYC) scheme. RBI vide its circular dated 28.09.2011 has advised banks to accept the Aadhar letter issued by Unique Identification Authority of India (UIDAI) as an officially valid document… Read More
RBI/2013-14/194 RPCD.CO.RRB.BC.No.22 /03.05.33/2013-14 August 19, 2013 All Regional Rural Banks Dear Sir, Interest Rates on FCNR(B) Deposits Please refer to our circular RPCD.CO.RRB.No.76/03.05.33(C)/2011-12 dated May 8, 2012 on Interest Rates on Deposits held in FCNR(B) Accounts. In view of the prevailing market conditions, it has been decided that until further notice and with effect from the close… Read More
RBI/2013-14/193 RPCD.CO.RRB. BC.No.24/03.05.33/2013-14 August 19, 2013 The Chairmen All Regional Rural Banks (RRBs) Dear Sir/Madam, Deregulation of Interest Rates on Non-Resident (External) Rupee (NRE) Deposits Please refer to our circular RPCD.CO.RRB.BC.No.45/03.05.33(C)/2011-12 dated December 19, 2011 on Deregulation of Interest Rates on Non-Resident (External) Rupee (NRE) Deposits and Ordinary Non- Resident (NRO) Accounts. 2. In terms of para… Read More
RBI/2013-14/192 A. P. (DIR Series) Circular No.29 August 20, 2013 To All Category-I Authorised Dealer Banks Madam / Sir, Investments by Non-resident Indians (NRIs) under Portfolio Investment Scheme (PIS) Liberalisation of Policy Attention of Authorised Dealers Category-I (AD Category - I) banks is invited to Schedule 3 of the Foreign Exchange Management (Transfer or Issue… Read More
RBI/2013-14/191 A.P. (DIR Series) Circular No.28 August 19, 2013 To All Banks Authorised to Deal in Foreign Exchange Madam/Sir, Foreign Investments in Asset Reconstruction Companies (ARC) Attention of Authorized Dealers is invited to the Foreign Exchange Management (Transfer or Issue of Security by a Person Resident outside India) Regulations, 2000 notified by the Reserve Bank… Read More
RBI/2013-14/190 RPCD.CO.RRB/RCB.BC.No. 20 /03.05.33/2013-14 August 19, 2013 All Regional Rural Banks/ Scheduled State Cooperative Banks Dear Sir, Section 42(1) of the Reserve Bank of India Act, 1934 and Section 24 of the Banking Regulation Act, 1949 FCNR(B)/NRE deposits exemption from maintenance of CRR/SLR At present, banks are required to include all Foreign Currency Non-Resident Bank… Read More
Government of India Ministry of Commerce and Industry Department of Commerce Directorate General of Foreign Trade Udyog Bhawan, New Delhi Policy Circular No. 05 (RE- 2013) /2009-2014 Dated: 14th August, 2013 To All Regional Authorities (RAs) of DGFT Spices Board All Commissioners of Customs Members of Trade Subject: Norms for Spices under Advance Authorization. Reference:… Read More
Procedure for availing the VCES scheme Step 1 If the declarant is not registered, then he is first required to get himself registered and then apply for this scheme. For details, please visit www.aces.gov.in . Step 2 After registration, the declarant shall make a declaration in Form VCES-1 to the designated authority on or before 31.12.2013. Step 3 On receipt… Read More
Circular No. 170/5 /2013 - ST F. No. B1/19/2013-TRU (Pt) Government of India Ministry of Finance Department of Revenue Central Board of Excise and Customs Tax Research Unit ***** New Delhi, dated the 8th August, 2013 To, Chief Commissioners of Central Excise and Customs (All), Director General (Service Tax), Director General (Systems), Director General (Central Excise Intelligence), Director… Read More