Daily Archives: March 18, 2016

Govt withdraws recognition of Delhi Stock Exchange

By | March 18, 2016

NOTIFICATION NO. SO 1102(E) [F.NO.1/14/SM/2015], DATED 15-3-2016 Whereas the Securities and Exchange Board of India, vide notification number SEBI/MRD/ 48107/2005 dated the 29th August, 2005, notified the Delhi Stock Exchange Limited (Corporatisation and Demutualisation) Scheme, 2005 in terms of section 4B and the Securities Contracts (Regulation) Act, 1956 (42 of 1956); 2. And whereas sub-section… Read More »

Govt allows 49% FDI in Insurance companies via automatic route

By | March 18, 2016

INDIAN INSURANCE COMPANIES (FOREIGN INVESTMENT) AMENDMENT RULES, 2016  SUBSTITUTION OF RULE 5 AND OMISSION OF RULE 6 NOTIFICATION NO. GSR 314(E)[F.NO.12018/1/2006-INS.IV], DATED 16-3-2016 In exercise of the powers conferred by clause (aaa) of sub-section (2) of section 114 of the Insurance Act, 1938 read with clause (b) of sub-section (7A) of section 2 of the… Read More »

CBDT to reopen cases of PENNY STOCK Investors

By | March 18, 2016

SECTION 69 OF THE INCOME-TAX ACT, 1961 – UNDISCLOSED INVESTMENTS – UPLOADING OF INFORMATION RELATED TO PENNY STOCK IN RESPECT OF ASSESSEES LETTER F.NO.287/30/2014-IT (INV.II)-VOL-III, DATED 16-3-2016 REF : EFS Instruction No.53 of Directorate of Systems dated 08.03.2016 Kind attention is invited to the above referred EFS Instruction issued by the System Directorate regarding handling… Read More »

CBDT notify rules for Period of Holding of Convertible Debentures / bonds

By | March 18, 2016

INCOME-TAX (SIXTH AMENDMENT) RULES, 2016 – INSERTION OF RULE 8AA NOTIFICATION NO. SO 1146(E) [NO.18/2016 (F.NO.142/1/2016-TPL]  DATED 17-3-2016 In exercise of the powers conferred by section 2, read with section 295 of the Income-tax Act, 1961 (43 of 1961), the Central Board of Direct Taxes hereby makes the following rules further to amend the Income-tax… Read More »

RBI discontinue report on NEFT Customer Service and Charges

By | March 18, 2016

RBI/2015-16/337 DPSS.CO.EPPD No.2157/04.03.01/2015-16 March 17, 2016 The Chairman and Managing Director / Chief Executive Officer of member banks participating in NEFT NEFT – Customer Service and Charges – Adherence to Procedural Guidelines and Circulars We invite reference to Para 7 of circular DPSS.CO.EPPD No.1583/04.03.01/2013-14 dated January 21, 2014 on the captioned subject wherein banks were… Read More »

Category: RBI

RBI Instructions on Annual Closing of Government Accounts

By | March 18, 2016

RBI/2015-16/342 DGBA.GAD.No. 2969/42.01.029/2015-16 March 17, 2016 The Chairman / Chief Executive Officer All agency banks Dear Sir/Madam, Annual Closing of Government Accounts – Transactions of Central / State Governments – Special Measures for the Current Financial Year (2015-16) The Government of India has desired that all government transactions with banks must be accounted for within… Read More »

Category: RBI

RBI guidlines to banks for reporting of march transactions

By | March 18, 2016

RBI/2015-16/343 DGBA.GAD.No.2968/42.01.029/2015-16 March 17, 2016 The Chairman/Chief Executive Officer All Agency Banks Dear Sir / Madam, Scheme for Collection of Dues of (i) Central Board of Direct Taxes (ii) Central Board of Excise and Customs (iii) Departmentalised Ministries Account – Reporting and Accounting of March Transactions – Special Arrangements – Financial Year 2015-16 Please refer… Read More »

Category: RBI

RBI : Recovery of excess payments made to pensioners

By | March 18, 2016

RBI/2015-16/340 DGBA.GAD.No.2960/45.01.001/2015-16 March 17, 2016 The Chairman / Chief Executive Officer All Agency Banks Dear Sir, Recovery of excess payments made to pensioners We have been receiving complaints from pensioners stating that the recovery of excess/wrong pension payments are being made in a manner that is not in keeping with the extant guidelines. In this… Read More »

RBI : Pradhan Mantri Fasal Bima Yojana compulsory for loanee farmers

By | March 18, 2016

RBI/2015-16/341 FIDD.No.FSD.BC.20/05.10.007/2015-16 March 17, 2016 The Chairman/Managing Director/Chief Executive Officer All Scheduled Commercial Banks (excluding Regional Rural Banks) Madam / Dear Sir, Pradhan Mantri Fasal Bima Yojana As you are aware, Government of India has recently approved Pradhan Mantri Fasal Bima Yojana (PMFBY) which would replace the existing schemes of National Agricultural Insurance Scheme (NAIS)… Read More »

Commodity Derivatives can be traded on exchanges operating in IFSC

By | March 18, 2016

SEBI (INTERNATIONAL FINANCIAL SERVICES CENTRES) GUIDELINES, 2015 (IFSC GUIDELINES) – INCLUSION OF COMMODITY DERIVATIVES CIRCULAR NO.MRD/DSA/41/2016, DATED 17-3-2016 1. SEBI (International Financial Services Centres) Guidelines, 2015 were issued on March 27, 2015. 2. Pursuant to section 131 of the Finance Act, 2015 and Central Government notification S.O. 2362 (E) dated August 28, 2015, all recognized… Read More »

Health Advisory for Yatris During Amarnathji Yatra

By | March 18, 2016

Health Advisory for Yatris During Shri Amarnathji Yatra The Pilgrimage to Holy Cave of Shri Amarnathji involves trekking at altitudes as high as14000 feet. Yatris may develop High Altitude Sickness with following symptoms: loss of appetite, nausea, vomiting, fatigue, weakness, dizziness, lightheadedness and difficulty in sleeping, visualimpairment, bladder dysfunction, bowl dysfunction, loss of coordination of… Read More »

Plastic carry bag rules now applies to Rural areas also

By | March 18, 2016

WHAT’S NEW IN PLASTIC WASTE MANAGEMENT RULES, 2016 ? 1. Rural areas have been brought in ambit of these Rules since plastic has reached to rural areas also. Responsibility for implementation of the rules is given to Gram Panchayat. 2. First time, responsibility of waste generators is being introduced. Individual and bulk generators like offices,… Read More »

Government Notifies Plastic Waste Management Rules, 2016

By | March 18, 2016

Government Notifies Plastic Waste Management Rules 2016 ‘Minimum Thickness of Plastic Carry Bags Increased from 40 to 50 Microns’: Javadekar The Government has notified the Plastic Waste Management Rules, 2016, in suppression of the earlier Plastic Waste (Management and Handling) Rules, 2011.   The Minister of State for Environment, Forest and Climate Change, Shri Prakash Javadekar,… Read More »