Daily Archives: December 19, 2015

Mobile Banking Registration through ATMs

RBI/2015-16/269 DPSS.CO.PD.No./1265/02.23.001/2015-2016 December 17, 2015 The Chairman and Managing Director / Chief Executive Officers All Scheduled Commercial Banks including RRBs / Urban Co-operative Banks / State Co-operative Banks / District Central Co-operative Banks / White Label ATM Operators Madam /Dear Sir Mobile Banking Transactions in India – Operative Guidelines for Banks – Customer Registration for… Read More »

RBI guidelines for pricing advances by Banks using Marginal Cost of Funds based Lending Rate

Reserve Bank of India RBI/2015-16/273 DBR.No.Dir.BC.67/13.03.00/2015-16 December 17, 2015 All Scheduled Commercial Banks (Excluding RRBs) Dear Sir/ Madam Interest Rates on Advances A reference is invited to paragraph 22 of the first Bi-monthly Monetary Policy Statement 2015-16 announced on April 7, 2015 which stated that in order to improve the efficiency of monetary policy transmission,… Read More »

Income of unit holder of investment fund shall be intimated to Income tax department

[Statement under sub-section (7) of section 115UB. Rule 12CB inserted by the Income-tax (Twentieth Amendment) Rules, 2015, w.e.f. 11-12-2015. vide Notification No. 92/2015/ F.No.142/22/2015-TPL 12CB . (1) The statement of income paid or credited by an investment fund to its unit holder shall be furnished by the person responsible for crediting or making payment of… Read More »

Omnibus approval for related party transactions on annual basis

MINISTRY OF CORPORATE AFFAIRS  vide NOTIFICATION  [F. No. 1/32/2013-CL-V-Part]  Dated 14th December, 2015  notified  Companies (Meetings of Board and its Powers) Second Amendment Rules, 2015. and inserted rule 6A . What are related party transactions for which approval is required from Audit Committee ? Omnibus approval for related party transactions on annual basis.- All related party transactions… Read More »

Govt notify rules for Fair compensation in Land Acquisition

Land Acquisition Govt of India vide THE GAZETTE OF INDIA : EXTRAORDINARY [PART II—SEC. 3(i)],Notification No  [F.No. 13011/01/2015- LRD]  Dated  18th December, 2015.  notified  Right to Fair Compensation and Transparency in Land Acquisition, Rehabilitation and Resettlement (Compensation, Rehabilitation and Resettlement and Development Plan) Rules, 2015 When will Right to Fair Compensation and Transparency in Land… Read More »