Statement of India’s External Debt
India™s Total External Debt Stock Stood at US$ 365.3 Billion, Recording an increase of 5.8 per cent over the Level at End- March 2012; Ministry of Finance Releases India™s External Debt Report at End-September 2012 Department of Economic Affairs, Ministry of Finance has been compiling and releasing quarterly statistics on India™s External Debt for… Read More
Withdrawal of RBI Circulars related to write-off of Bad Debt
RBI has withdrawn all circulars send to Private sector banks for delegation of powers on writing off bad debt, losses and compromise proposals. Read More
RBI to Adopt ISO 20022 Compliant Messaging Standards
The Next Generation - Real Time Gross Settlement (RTGS) systems will be developed to conform to ISO 20022 standards, RBI announced in the final hours of 2012. ISO 20022, is a globally accepted ISO Standard for Financial Services Messaging. It describes a Metadata Repository containing descriptions of messages and business processes, and a maintenance process for the… Read More
Simplification and Revision of Softex Procedures at SEZs
Some modifications have been made in the Softex procedures for organizaitions in SEZs, EPZs, and STPIs. The process has been simplified on all India basis and as per the revised procedure, a software export firm which is either under STPIs or SEZs/EPZs/100%EOU/DTA, and who either annually files at least 600 SOFTEX forms, or whose annual turnover… Read More
Guidelines for Issue of Commercial Paper
The following is a circular that has been issued by the RBI, in the light of some of the recent developments in the financial markets. The directions provided in this document and subsequent notification below, is applicable to issuance of Commercial Paper (CP). The proposed guidelines have been reviewed and issued in consultation with the… Read More
Year End Review of Competition Commission of India for 2012
The following is an excerpt from the year-end review of the major achievements & other highlights of the Competition Commission of India (CCI), which happened under the Ministry of Corporate Affairs' (MCA) and the able guidance of Union Minister Shri Sachin Pilot. Read More
Revisions in existing investment limits for lending to Micro Enterprises
RBI has made a revision in the existing limits for lending related to Micro Enterprises who have investments in plant, machinery and equipment. The lending has been revised in a 40:20 proportion i.e. 40% advances made to the Micro and Small Enterprises (MSME), would go to Micro firms, both service and manufacturing, having investments of… Read More
A new Team at the Institute of Company Secretaries of India
A change of guards has taken place at the Institute of Company Secretaries of India (ICSI); Shri Sutanu Sinha, Fellow Member ICSI, taking over as the Chief Executive of the Institute. Shri M. S. Sahoo, IES and Fellow ICSI has taken over as the Secretary. Shri Sahoo has over 30 years of multi-industry, varied experience… Read More
Master Your Time
What is Time? Time has different meaning to different people. Time escapes definition. Time is a relative concept. As St.Augustine remarked long ago I know what time is until someone asks me. Time is an everlasting and indestructible marvel. Time is more valuable than diamond or gold since diamond or gold could be preserved and… Read More
DVAT 51 reconciliation return Qtr 1 to 4 of 2011-12 extended to 28/02/2013
GOVERNMENT OF NATIONAL CAPITAL TERRITORY OF DELHI DEPARTMENT OF TRADE AND TAXES VYAPAR BHAWAN, I.P. ESTATE, NEW DELHI-110002 No.F.3(33)/P-II/ VAT/ Misc./2006/ Dated: ORDER In exercise of the powers conferred under Rule 49A of the Delhi Value Added Tax Rules, 2005, sub-section (2) of section 9 of the Central Sales Tax Act, 1956 and sub-rule (7)… Read More
Exim Bank’s Line of Credit of USD 250 million to the Government of Mozambique
RBI/2012-13/350 A.P. (DIR Series) Circular No. 65 December 27, 2012 To All Category - I Authorised Dealer Banks Madam / Sir, Exim Bank's Line of Credit of USD 250 million to the Government of the Republic of Mozambique Export-Import Bank of India (Exim Bank) has concluded an Agreement dated September 20, 2012 with the Government… Read More
Exim Bank’s Line of Credit of USD 19 million to the Government of Guyana
RBI/2012-13/349 A.P. (DIR Series) Circular No. 64 December 27, 2012 To All Category - I Authorised Dealer Banks Madam / Sir, Exim Bank's Line of Credit of USD 19 million to the Government of the Co-Operative Republic of Guyana Export-Import Bank of India (Exim Bank) has concluded an Agreement dated October 30, 2012 with the… Read More
Development of Industrial Park by iLabs
Notification No. 55/2012 Dated 28-12-2012 Whereas the Central Government in exercise of the powers conferred by clause (iii) of sub-section (4) of section 80-IA of the Income-tax Act, 1961(43 of 1961)(hereinafter referred to as the said Act), has framed and notified a scheme for industrial park, by the notifications of the Government of India in the Ministry of Commerce… Read More
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