ICAI Release – Technical Guide on Internal-Concurrent Audit of Investment Functions of Insurance Companies (2013)
Document Extract: 1 Framework of Internal / Concurrent Audit for Insurance Companies 1. Introduction One of the major functions of an insurance company is investment of funds and with the ever growing fund size of insurers™ investments, safeguarding and protection of the investments has acquired enormous significance. IRDA, the regulator of insurance industry, has put… Read More
ICAI Release – Technical Guide on Review and Certification of Investment Risk Management Systems and Processes of Insurance Companies (2013)
Document Extract: 1 Introduction 1.01. Insurance in India has come of age.Insurers have been operating in India for a very long time, but insurance then was entirely the monopoly of the state-owned Life Insurance Corporation and four general Insurance Companies. In the post- liberalisation phase, private entrepreneurs have also come on to the scene. Since… Read More
14th National Conference of Practising Company Secretaries
14th National Conference of Practising Company Secretaries July 19-20, 2013 (Friday & Saturday) Inaugural: 11.00 AM Theme Integrating Growth, Governance and Challenges Beyond Sub Themes Emerging Areas of Practice in Governance Enhancing Quality of Service of a Practising Company Secretary Responsibility and Accountability of a Practising Company Secretary Key Takeaways Explore new opportunities in the… Read More
CLR Important | Multi-Brand Retail FDI Policy- Clarification on queries of prospective investors/ stakeholders
CLARIFICATION ON QUERIES OF PROSPECTIVE INVESTORS/ STAKEHOLDERS ON FDI POLICY FOR MULTI-BRAND RETAIL TRADING (Paragraph 6.2.16.5 of ˜Circular 1 of 2013-Consolidated FDI Policy™) Issue Clarification/ comment 30% sourcing from Small and Medium Enterprises: (a) Can the Foreign Investor purchase the 30% of the total procurement of manufactured or processed goods by the SME but distribute … Read More
RBI Note – Legal Audit of title documents in respect of large value loan accounts
RBI /2012-13/524 DBS.FrMC.BC.No.7/23.04.001/2012-13 June 07, 2013 The Chairmen & Chief Executive Officers of all Scheduled Commercial Banks (excluding RRBs) and All India Select Financial Institutions Dear Sir/Madam, Legal Audit of title documents in respect of large value loan accounts Please refer to para 3.1 of our circular DBS.CO. FrMC. BC .No. 11/ 23.0.001/ 2010-11 dated June… Read More
RBI Instruction on Unique Customer Identification Code
RBI/2012-13/523 UBD.BPD (PCB) Cir. No. 54/14.01.062/2012-13 June 6, 2013 The Chief Executive Officer All Primary (Urban) Co-operative Banks Madam/Dear Sir, Know Your Customer (KYC)/Anti-Money Laundering (AML)/Combating of Financing of Terrorism (CFT) Guidelines - Unique Customer Identification Code (UCIC) for banks™ customers in India Primary (Urban) Co-operative Banks Please refer to our circular UBD.BPD (PCB) Cir. No.… Read More
RBI Clarification on Lending against gold
RBI/2012-13/522 RPCD.CO.RCB.BC.No. 77 /07.51.014/2012-13 June 06, 2013 The CEOs of all State and Central Co-operative Banks Dear Sir, Lending against gold Please refer to paragraph 98 of the Monetary Policy Statement 2013-14 announced on May 3, 2013 (extract enclosed) on lending against gold, proposing to restrict the facility of advances against the security of gold… Read More
CLR Snipppets | Tax Collection Report
Gross direct tax collections during April-May of the current Financial Year 2013-14 is up by 21.10 percent at Rs. 63,252 crore as against Rs. 52,231 crore in the same period during the last fiscal. While Gross Collections of Corporate Taxes showed an increase of 14.91 percent and stood at Rs.27,957 crore as against Rs. 24,329… Read More
MoF organising workshop on Facilitating Small Businesses
Ministry of Finance in association with Ministry of Micro, Small and Medium Enterprises (MSME) and World Bank will organise a one-day workshop titled Facilitating Small Businesses here on Monday, 10th June, 2013. The Workshop would be attended among others Dr Arvind Mayaram, Secretary, Department of Economic Affairs, Ministry of Finance, Shri Madhav Lal, Secretary, Department… Read More
Government Sets-Up the National Skill Development Agency
NSDA to Coordinate and Harmonize the Skill Development Efforts of the Government of India and the Private Sector to Achieve the Skilling Targets of the 12th Plan and Beyond; To Bridge the Social, Regional, Gender and Economic Divide by Ensuring that the Skilling needs of the Disadvantaged and Marginalized Groups are taken care of through Various… Read More
Amritsar – Delhi – Kolkata Industrial Corridor – Inter-Ministerial group constituted
1. In order to give a boost to industrial development in the densely populated states of Northern India, the Prime Minister has approved the commencement of preparatory work on creating an Amritsar - Delhi - Kolkata Industrial Corridor. 2. The Amritsar - Kolkata Industrial Corridor is patterned on the Delhi-Mumbai Industrial Corridor (DMIC). The DMIC uses… Read More
National Ambulance Code – Minimum Standards and Guidelines for Ambulances
In a major step towards improving the quality and safety of ambulances on Indian roads, National Ambulance Code AIS:125 (Automotive Industry Standard) recommended by Central Motor Vehicles Rules-Technical Standing Committee (CMVR-TSC) has been approved by the Ministry of Road Transport & Highways. The ˜National Ambulance Code™ puts in place minimum standards and guidelines regarding the constructional… Read More
India Committed to engagement with Myanmar
The Union Minister of Commerce, Industry & Textiles Shri Anand Sharma today met Mr. U Myat Hein, Minister of Communications and Information Technology, Myanmar, in Nay Pyi Taw. Both the Ministers discussed the selection process for telecom companies which is going on in Myanmar. Keeping in mind the geographical contiguity and strategic interest, Shri Sharma… Read More
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