Daily Archives: February 5, 2016

Buyback of WPI-Linked Inflation Indexed Bond

Buyback of WPI-Linked Inflation Indexed Bond The Government of India has announced the repurchase of “1.44 per cent Inflation Indexed Government Stock-2023” through reverse auction for an aggregate amount of Rs. 6,500 crore (face value). The repurchase by the Government of India will be undertaken to redeem the Government Stocks prematurely by utilizing surplus cash… Read More »

Govt notify Gold Monetisation Scheme -2015

THE GAZETTE OF INDIA EXTRAORDINARY [PART I—SEC. 1] MINISTRY OF FINANCE (Department of Economic Affairs) NOTIFICATION New Delhi, the 3rd February, 2016 F. No. 20/6/2015-FT(Pt.-7).—The Central Government, with a view to provide different options to the people to monetize the privately held stock of the gold, hereby notifies the   ‘ Gold Monetisation Scheme-2015 ’… Read More »

Bihar Value Added Tax Ordinance 2016

BIHAR VALUE ADDED TAX ORDINANCE, 2016 – AMENDMENT IN SECTIONS 3A, 14 & 70 NOTIFICATION NO.LG-01-01/2016/04LEG., DATED 28-1-2016 TO AMEND THE BIHAR VALUE ADDED TAX ACT, 2005 (ACT 27, 2005) Preamble – WHEREAS, The Legislature of the State of Bihar is not in session; AND, WHEREAS, the Governor of Bihar is satisfied that the circumstances… Read More »

Revised benchmark cost of Concentrating Solar Thermal

MNRE revises benchmark cost of Concentrating Solar Thermal (CST) Technologies The Ministry of New and Renewable Energy (MNRE), proposes an upward revision of the benchmark cost of Concentrating Solar Thermal (CST) Technologies Programme. The initiative is taken with the aim to promote energy efficiency. The benchmark cost will be related to the performance efficiency in… Read More »

RBI rationalises FEMA Regulations

Source  :Reserve Bank of India Date : Feb 04, 2016 The Reserve Bank of India, in consultation with the Government of India, has revised nine regulations issued under the Foreign Exchange Management Act, 1999 (FEMA). Consequently, the respective original notifications and subsequent amendments stand repealed. For easy identification, revised regulations will carry the same numbers… Read More »

RBI awarded for Innovation in XBRL Reporting

Source Reserve Bank of India Date : Feb 05, 2016 The XBRL International, the global custodian of the eXtensible Business Reporting Language (XBRL) standard awarded the ‘ XBRL International Award for Excellence ’ to the Reserve Bank of India (RBI). The award has been given to the Reserve Bank in recognition of its efforts in ‘Innovation and… Read More »

Revised Rupee value of the Special Currency Basket

Source : Reserve Bank of India RBI/2015-16/305 A.P. (DIR Series) Circular No. 41 February 04, 2016 To All Category – l Authorised Dealer Banks Madam / Sir, Deferred Payment Protocols dated April 30, 1981 and December 23, 1985 between Government of India and erstwhile USSR Attention of Authorized Dealer Category-I (AD Category-I) banks is invited… Read More »

Regulations for Transfer of Immovable Property outside India

Source : Reserve Bank of India RBI/2015-16/308 A.P. (DIR Series) Circular No. 43/2015-16 [(1)/7(R)] February 04, 2016 To All Category – I Authorised Dealer and Authorised Banks Madam/ Sir Foreign Exchange Management (Acquisition and Transfer of Immovable Property outside India) Regulations, 2015 Attention of Authorised Dealers (ADs) is invited to A.D.(M.A. Series) Circular No. 11… Read More »

Foreign currency accounts by person resident in India

Source : Reserve Bank of India RBI/2015-16/309 A.P. (DIR Series) Circular No.44/2015-16 [(1)/10(R)] February 04, 2016 To All Category – I Authorised Dealers and Authorised Banks Madam/ Sir Foreign Exchange Management (Foreign currency accounts by a person resident in India) Regulations, 2015 Attention of Authorised Dealers (ADs) is invited to A.D.(M.A. Series) Circular No. 11… Read More »

limit for Export & import of Indian currency and notes

Source : Reserve Bank of India RBI/2015-16/310 A.P. (DIR Series) Circular No. 45/2015-16 [(1)/6(R)] February 04, 2016 To All Authorised Persons Madam/ Sir Foreign Exchange Management (Export and Import of Currency) Regulations, 2015 Attention of Authorised Persons is invited to Foreign Exchange Management (Export and Import of Currency) Regulations, 2015 notified vide Notification No. FEMA.6(R)/… Read More »

Surrender of foreign exchange within 180 days by Resident Individuals

Source : Reserve Bank of India RBI/2015-16/311 A.P. (DIR Series) Circular No.46/2015-16 [(1)/9(R)] February 04, 2016 To All Category – I Authorised Dealers and Authorised Banks Madam/ Sir Foreign Exchange Management (Realisation, repatriation and surrender of foreign exchange) Regulations, 2015 Attention of Authorised Dealers (ADs) is invited to Foreign Exchange Management (Realisation, repatriation and surrender… Read More »

India’s Handicrafts Exports grow by 10%

Handicrafts Exhibition cum sale ‘SHRESTHKRITI’ held Craftsvilla to market India Handloom brand products 56TH IIGF a Big Success 5th edition of Technotex in Mumbai from April 21 – 23, 2016 Monthly Review – January 2016 The exports of Handicrafts has grown by 10% in rupee terms, from Rs. 13,460 crore during April-December 2014 to Rs.… Read More »

Limits for Possession and retention of Foreign Currency

Source : Reserve Bank of India RBI/2015-16/312 A.P. (DIR Series) Circular No.47/2015-16 [(1)/11(R)] February 04, 2016 To All Category – I Authorised Dealers and Authorised Banks Madam/ Sir Foreign Exchange Management (Possession and Retention of Foreign Currency) Regulations, 2015 Attention of Authorised Dealers (ADs) is invited to Foreign Exchange Management (Possession and Retention of Foreign… Read More »

Now you can buy foreign exchange from any post office

Source : Reserve Bank of India RBI/2015-16/314 A.P. (DIR Series) Circular No.49/2015-16 [(1)/18(R)] February 04, 2016 To All Category – I Authorised Dealers and Authorised Banks Madam/ Sir Post Office (Postal Orders/Money Orders), 2015 Attention of Authorised Dealers (ADs) is invited to Notification No. FEMA. 18(R)/2015-RB dated December 29, 2015 notified vide G.S.R. No.1009 (E)… Read More »

Definition of Currency includes Debit cards and ATM cards

Source : Reserve Bank of India RBI/2015-16/313 A.P. (DIR Series) Circular No.48/2015-16 [(1)/15(R)] February 04, 2016 To All Category – I Authorised Dealers and Authorised Banks Madam/ Sir Definition of “Currency”, 2015 Attention of Authorised Dealers (ADs) is invited to Notification No. FEMA. 15(R)/2015-RB dated December 29, 2015 notified vide G.S.R. No.1008 (E) dated December… Read More »

Settlement of Export/ Import transactions in currencies not having a direct exchange rate

Source: Reserve Bank of India RBI/2015-16/307 A.P. (DIR Series) Circular No. 42 February 4, 2016 To All Category – I Authorised Dealer Banks Madam/ Sir, Settlement of Export/ Import transactions in currencies not having a direct exchange rate Attention of Authorised Dealer Category I (AD Category – I) banks is invited to Notification No. FEMA.… Read More »

RBI Increased RTGS service charges

Source : Reserve Bank of India RBI/2015-16/306 DPSS (CO) RTGS No.1926/04.04.002/2015-16 February 4, 2016 The Chairman / Managing Director / Chief Executive Officer of participants of RTGS Madam / Sir, RTGS service charges for members and customers – Rationalisation A reference is invited to our circular DPSS.(CO).RTGS.No.388/04.04.002/2011-2012 dated September 5, 2011. 2. As participants in… Read More »

Exchange rate for foreign currency conversion w.ef 5.02.16

Rate of exchange of conversion of the foreign currency with effect from 5th February, 2016 GOVERNMENT OF INDIA MINISTRY OF FINANCE (DEPARTMENT OF REVENUE) (CENTRAL BOARD OF EXCISE AND CUSTOMS) Notification No. 18/2016 – Customs (N.T.) Dated the 4th February, 2016 15 Magha, 1937 (SAKA) In exercise of the powers conferred by section 14 of… Read More »

Apprenticeship (Amendment) Rules, 2016 notified

THE GAZETTE OF INDIA : EXTRAORDINARY [PART II—SEC. 3(i)] MINISTRY OF SKILL DEVELOPMENT AND ENTREPRENEURSHIP NOTIFICATION New Delhi, the 25th January, 2016 G.S.R. 130(E).—In exercise of the powers conferred by sub-section (1) read with sub-section (1A) of section 37 of the Apprentices Act, 1961 (52 of 1961), the Central Government, after consulting the Central Apprenticeship… Read More »