MCA clarifies the notification S.O.447 (E) on Revised Schedule VI
General Circular no. 62/2011; GOI; MCA; Dated: 05.09.2011 All Regional Directors; All Registrar of Companies; All Official Liquidators Sub: Clarification on notification no. S.O.447 (E) dated 28.02.2011 on Revised Schedule VI ( shall be effective from 01.04.2011) The undersigned is directed to refer to this Ministry™s notification no. S.O. 447 (E) dated 28.02.2011 regarding Revised… Read More
RBI issues Guidelines regarding dealing with Pension related matters
Guidelines regarding dealing with pension related matters have been issued by Reserve Bank of India (RBI) vide their circular dated 1.10.2008. These guidelines, inter-alia, stipulate that to streamline pension payment arranged in banks, it would be necessary to establish and operationalise the Central Pension Processing Centers (CPPCs) at an early date. The arrangement of disbursement… Read More
Custom & Excise duty reduced on petro products
With effect from 25thJune, 2011, the Central Government has reduced basic customs duties on crude from 5% to Nil, on petrol and diesel from 7.5% to 2.5% and on other petroleum products from 10% to 5%. Similarly, the basic excise duty on diesel has been reduced to Nil from Rs. 2 per litre. The custom… Read More
Banking Ombudsman Conference : Ten Action Points to improve Customer Service of Banks
1. Indian Banks™ Association (IBA) will standardise most important terms and conditions (MITC) for at least ten important banking transactions and circulate among banks for adaptation. 2. Banks would initiate the process of providing one view of all bank accounts of a customer including deposits, loans, etc., with the help of available technology, such as,… Read More
RTGS Service charges for Members
RBI/2011-12/166 DPSS (CO) RTGS No.388/04.04.002/2011-2012 Chairman and Managing Director / Chief Executive Officer of all RTGS participants Madam / Dear Sir, RTGS service charges for members As you are aware, the Reserve Bank of India has not been levying any service charges on the members for the usage of the RTGS system since its inception.… Read More
Incorporation of Companies removed through Straight Through Processing
General Circular No. 61/2011 No 2/10/2011-CL.V Government of India Ministry of Corporate Affairs 5th floor, ˜A™ Wing, Shastri Bhawan, Dr. Rajendra Prasad Road, New Delhi Dated the 5th Sept, 2011 To, All Regional Directors All Registrar of Companies. Sub: Online incorporation of companies within 24 hours Sir, Please refer to this Ministry™s General Circular No.… Read More
Self-Assessment introduced in Customs
Circular No. 39/2011 F.No.450/20/2007-Cus.IV Government of India Ministry of Finance Department of Revenue Central Board of Excise & Customs 227-B, North Block, New Delhi-110001. 2nd September, 2011. To All Chief Commissioners of Customs / Customs (Prev.). All Chief Commissioners of Customs & Central Excise. All Commissioners of Customs / Customs (Prev.). All Commissioners of Customs… Read More
Workshop on Management of Contract Labour, Construction Workers and Outsourcing
Workshop on Management of Contract Labour, Construction Workers and Outsourcing Problem Solving and Related Case Laws Held on 19th-20th August, 2011 Jointly released study titled Management of Contract Labour , Contract Labour (Regulation & Abolition ) Act 1970 and Handling Outsourcing by Shri K.C. Mehra,… Read More
Submission of Credit Information to Credit Information Companies
RBI/2011-12/165 DBOD.No. CID.BC.30 /20.16.042/2011-12 Chairmen/Managing Directors/CEOs All Scheduled Commercial Banks (excluding RRBs and LABs) All India Notified Financial Institutions Dear Sir, Submission of Credit Information to Credit Information Companies Defaulters of Rs. 1 Crore and above and Wilful Defaulters of Rs. 25 lakh and above Dissemination of Credit Information of suit-filed accounts Please refer to our Circulars… Read More
What to do When the Cheque Gets Bounced
Introduction: In the current era, when crimes have increased to a surprising rate, crimes in banking appear as one of the major forms. India is also not untouched from such crimes. Bouncing of cheques is one such crime which occurs almost everyday in some or the other bank throughout India infact throughout the world. For… Read More
Competition Law Summit 2011 on 15th & 16th September 2011, Grand Hyatt Mumbai
Competition Law Summit is designed to address the increasing need and implication of rules and regulations of competition policy in an economy. Competition law in India has been relatively emerging at a faster pace. The summit is designed to impart the latest and structured amendment law to the corporates which may facilitate a greater level… Read More
Steps to curb circulation of Fake Indian Currency Notes- RBI
The steps taken by the Government to curb circulation of Fake Indian Currency Notes (FICN) in the country include stepping up of vigilance by the Border Security Force and Custom authorities to prevent smuggling of fake notes; dissemination of information on security features through print and electronic media and formation of Forged Note Vigilance Cells… Read More
Exchange programme initiated b/w India & UK for CA’s
A delegation of Accountants headed by Mr. Ian Gomes, Partner Chairman, High Growth Markets from the United Kingdom (UK) today called on Union Corporate affairs Minister Dr. M .Veerappa Moily and expressed its desire to have regulators exchange programme on regular basis between India and UK. The delegation also desired to have exchange of professionals… Read More
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