Daily Archives: November 10, 2015

1.7% growth in Foreign Tourist Arrivals in October 2015 in India

Ministry of Tourism of Govt of India issued the following press release on 10-November, 2015 1.7% growth in Foreign Tourist Arrivals in October 2015 over the same period in 2014 Bangladesh accounts for highest share of Tourist Arrivals in October 2015 Rs. 9611 Crore Foreign Exchange earned through Tourism in October 2015             Ministry of… Read More »

Reforms in FDI by Govt of India

Ministry of Commerce & Industry of Govt of India on 10-November, 2015 issued following press release Today, India is the fastest growing economy among major Nations.  The World Bank has improved India’s ranking by 12 places in the 2016 Study of Ease of Doing Business. FDI has gone up by 40%.  Several Global Institutions have… Read More »

PM upcoming visit to United Kingdom (UK) and Turkey

Prime Minister’s Office of Govt of India on 10-November, 2015 issued the following press release;- The Prime Minister, Shri Narendra Modi will be visiting United Kingdom (UK) and Turkey from November 12, 2015 to November 16, 2015. In a series of Facebook posts the Prime Minister said: On November 12, I will commence my visit to… Read More »

SEBI Circular for Streamlining the Process of Public Issue of Equity Shares and Convertibles

CIRCULAR CIR/CFD/POLICYCELL/11/2015 November 10, 2015 To Recognised Stock Exchanges Depositories Registered Stock Brokers Registered Merchant Bankers Registered Registrars to an Issue and Share Transfer Agents Registered Depository Participants Registered Bankers to an Issue Dear Sir/Madam, Sub: Streamlining the Process of Public Issue of Equity Shares and Convertibles 1. As a part of the continuing endeavor… Read More »

Withdrawal of all old series of Banknotes issued prior to 2005

RBI/2014-15/650 DCM(Plg) No.G-15/5486/10.27.00/2014-15 June 26, 2015 The Chairman / Managing Director / Chief Executive Officer All Scheduled Commercial Banks Primary (Urban) Co-operative Banks/RRBs Dear Sir /Madam Withdrawal of all old series of Banknotes issued prior to 2005 Please refer to our circular DCM (Plg) No. G-19/3880/10.27.00/2013-14 dated March 03, 2014, DCM (Plg) No. G-8/3004/10.27.00/2014-15 dated… Read More »

Banknotes with new numbering pattern and special features for the visually impaired

RBI/2015-16/188 DCM (Plg) No.G-6/1128/10.01.24/2015-16 September 24, 2015 The Chairman / Managing Director/ Chief Executive Officer All Banks Dear Sir /Madam Banknotes with new numbering pattern and special features for the visually impaired Reserve Bank of India is issuing Banknotes in Mahatma Gandhi Series 2005 with a new numbering pattern and special features for the visually… Read More »

RBI Guidelines for lending to Micro and Small Enterprises

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 »

Rescheduling of loans if the crop loss is 33% or more

RBI/2015-16/156 FIDD No. FSD.BC.12/05.10.001/2015-16 August 21, 2015 The Chaiman/Managing Director/Chief Executive Officer All Scheduled Commercial Banks (excluding Regional Rural Banks) Madam/Dear Sir GUIDELINES FOR RELIEF MEASURES BY BANKS IN AREAS AFFECTED BY NATURAL CALAMITIES Please refer to our Master Circular FIDD.No.FSD.BC.01/05.10.001/2015-16 dated July 1, 2015 containing ‘Guidelines for Relief Measures by Banks in Areas affected by… Read More »

National Rural Livelihoods Mission ,RBI Master Circular

RBI/2015-16/142 FIDD.GSSD.CO.BC.No.09/09.01.01/2015-16 July 30, 2015 (Updated upto October 26, 2015) The Chairman/ Managing Director All Scheduled Commercial Banks Dear Sir/Madam, Master Circular – National Rural Livelihoods Mission (NRLM) Reserve Bank of India has periodically issued instructions/directives to banks with regard to operationalisation of the Government of India’s National Rural Livelihoods Mission (NRLM) Scheme which replaced… Read More »

Interest Subvention Scheme Union Budget 2015-16

RBI/2015-16/152 FIDD.No.FSD.BC.59/05.04.02/2015-16 August 13, 2015 The Chairman / Managing Director All Public & Private Sector Scheduled Commercial Banks Dear Sir/Madam Union Budget – 2015-16 Interest Subvention Scheme Please refer to our letter FIDD CO.FSD.No.10740/05.04.02/2014-15 dated June 17, 2015 conveying extension of Interest Subvention Scheme upto July 31, 2015. In this regard, it is advised that… Read More »

Procedure for payment of commission by banks to authorised agents on sale of Kisan Vikas Patra

RBI/2015-16/172 DGBA.GAD.No.990 /15.02.003/2015-16 September 10, 2015 The Chairman/Chief Executive Officer Agency Banks Handling the Scheme of Kisan Vikas Patra, 2014 Dear Sir Procedure for payment of commission by banks to authorised agents on sale of Kisan Vikas Patra Department of Economic Affairs, Ministry of Finance, Government of India has advised, vide Office Memorandum F.No.2/4/2014-NS-II dated… Read More »

UDAY will lead to Rs 1.8 Lakh Crore Savings Annually

Ministry of Power of Govt of India on 10-November, 2015 UDAY will lead to Rs 1.8 Lakh Crore Savings Annually : Piyush Goyal Union Minister of State ( IC) for Power, Coal and Renewable Energy,Shri Piyush Goyal has asserted that the newly unveiled debt restructuring plan for DISCOMs, will eventually lead to a saving of… Read More »

Notification No. 107/215-CUSTOMS (N. T.)

[TO BE PUBLISHED IN THE GAZETTE OF INDIA, EXTRAORDINARY, PART-II, SECTION-3, SUB-SECTION (ii)] Government of India Ministry of Finance (Department of Revenue) (Central Board of Excise and Customs) Notification  No. 107/215-CUSTOMS (N. T.) New Delhi, Date- 9th November, 2015 S.O. … (E).– In exercise of the powers conferred by sub-section (2) of section 14 of… Read More »

Revised Policy for import of Aircraft and Helicopters

To be Published in the Gazette of India Extraordinary Part-II, Section – 3, Sub-Section (ii)) Government of India Ministry of Commerce & Industry Department of Commerce Directorate General of Foreign Trade Notification No. 24/2015-2020 New Delhi, Dated: 9 October, 2015 Subject: Amendment in policy condition 1 of Chapter 88 of ITC (HS), 2012 – Schedule… Read More »

Import of Human Embryo Prohibited in India except for research

To be Published in the Gazette of India Extraordinary Part-II,Section – 3, Sub-Section (ii)) Government of India Ministry of Commerce & Industry Department of Commerce Directorate General of Foreign Trade Notification No.25/2015-2020 New Delhi, Dated: 26th October, 2015 Subject: Amendment in import policy of Human Embryo classified under Exim Code 0511 99 99 of Chapter… Read More »

Indirect Tax Revenue collections during October 2015 increased by 36.8%

Ministry of Finance of Govt of Idnian on 09-November, 2015 Indirect Tax Revenue (Provisional) collections during October 2015 increased by 36.8% as compared with collections made in October 2014; Cumulatively, during April-October 2015, Indirect Tax Collections increased by 35.9% over the collections made during the same period last year suggesting a healthy growth in the… Read More »

My Stamp Scheme of India Post for personalization Postge Stamp

‘ My Stamp ’ is the brand name for personalized sheets of Postage Stamps of India Post. The personalization is achieved by printing a thumb nail photograph of the customer images and logos of institutions, or images of artwork, heritage buildings, famous tourist places, historical cities, wildlife, other animals and birds etc., alongside the selected… Read More »

Stamp Design Competition for Republic Day 2016

Notification for “Republic Day 2016- Stamp Design Competition” Department of Posts is holding a Stamp Design Competition. The theme of the competition is “Vibrant India”. Terms and Conditions to participate in “ Republic Day 2016- Stamp Design Competition” 1. Entries are invited for ‘Republic Day 2016- Stamp Design Competition’. The theme of the competition is… Read More »

Local Committees to deal with Taxpayers Grievances from High­ Pitched Scrutiny Assessment

Instruction No. 17/2015 F. No.225/290/2015-ITA-II Government of India Ministry of Finance Department of Revenue (CBDT) North Block , New-Delhi dated the 9th November , 2015 To, All Pr. CCsIT/DsGIT/CCIT(Exemptions)/Pr. CCIT(International-tax) Subject: Constitution of Local Committees to deal with Taxpayers Grievances from High­ Pitched Scrutiny Assessment- reg.- Sir/Madam, Board has consistently been advising the field authorities… Read More »

Investment in Indian Companies by FIIs/NRIs/PIOs

Regulations Foreign Institutional Investors (FIIs), Non-Resident Indians (NRIs), and Persons of Indian Origin (PIOs) are allowed to invest in the primary and secondary capital markets in India through the portfolio investment scheme (PIS). Under this scheme, FIIs/NRIs can acquire shares/debentures of Indian companies through the stock exchanges in India. The ceiling for overall investment for… Read More »