Daily Archives: April 5, 2016

Non-Compliance of Award of Insurance OMBUDSMAN

Source IRDAI IRDAI has been receiving communications from certain Ombudsman bringing to its notice the inordinate delay on the part of the Insurance Companies to implement the orders/awards of the Insurance Ombudsman. Similar complaints have also been received from the aggrieved Policy Holders on the above issue. Considering the seriousness of the issue, IRDAI in… Read More »

Cross Border Reinsurers Clarification by IRDA

Clarifications on Guidelines on Cross Border Reinsurers Ref:IRDA/NL/GDL/RIN/065/04/2016 Date:04-04-2016 To All CEOs/CMDs of Insurance Companies / GIC Re This refers to Circular No IRDAI/NL/GDL/RIN/017/01/2016 dated 19-01-2016 The Authority has been receiving information sheets for the Cross Border Reinsurers (CBR) (who are not fully compliant with the said circular), from various insurers/GIC Re, for approval of… Read More »

Liquidity Adjustment Facility reduced by RBI

RBI/2015-16/355 REF.No.MPD.BC.380 /07.01.279/2015-16 Chaitra 16, 1938 (Sake) April 5, 2016 To All Primary Dealers Dear Sir/Madam, Standing Liquidity Facilities for Primary Dealers Please refer to the First Bi-monthly Monetary Policy statement 2016-17 by Dr. Raghuram G Rajan, Governor dated April 5, 2016, in terms of which the repo rate under the Liquidity Adjustment Facility (LAF)… Read More »

Marginal Standing Facility Reduced by RBI

RBI/2015-2016/356 FMOD.MAOG. No.113 /01.18.001/2015-16 April 5, 2016 All Scheduled Commercial Banks (excluding RRBs) Madam / Sir, Marginal Standing Facility As announced by the Governor today, it has been decided to reduce the Marginal Standing Facility (MSF) rate by 75 basis points from 7.75 per cent to 7.00 percent with immediate effect. All other terms and… Read More »

Category: RBI

Repo and Reverse Repo Rates announced by RBI

RBI/2015-2016/357 FMOD.MAOG. No. 112 /01.01.001/2015-16 April 05, 2016 All Scheduled Commercial Banks (excluding RRBs), Scheduled Urban Co-operative Banks and Standalone Primary Dealers Madam / Sir, Liquidity Adjustment Facility – Repo and Reverse Repo Rates As announced in the Monetary policy by the Governor today, it has been decided to reduce the Repo rate under the… Read More »

Category: RBI

OECD statement on Panama Papers

The “Panama Papers” revelations have thrown light on Panama’s culture and secretive ways of carrying out business. Panama is the last major tax haven that continues to allow funds to be hidden offshore from tax and law enforcement authorities flouting international best practices with impunity. The OECD has been leading a global crackdown on these… Read More »

Panama Papers FAQ’s : Largest leak in offshore history

Panama Papers What are Panama Papers ? 2.6-terabyte leak of  confidential papers of Panamanian law firm called  “Mossack Fonseca ” to the International Consortium of Investigative Journalists is called Panama Papers. Mossack Fonseca was helping foreigners to set up Panamanian shell companies to hold financial assets while obscuring the identities of their real owners. The documents provide… Read More »

Gatimaan Express :India’s First Semi High-Speed Train

Gatimaan Express   Shri Suresh Prabhakar Prabhu Flags off First New Semi High-Speed Train “Gatimaan Express” from H.Nizamuddin to Agra Cantt. Station today i.e. 05-04-2016 Commissioning of Main Concourse at Hazrat Nizamuddin Station Along with Enhanced Passenger Amenities and Executive Lounge at Agra Cantt Gatimaan Express will Run on All Days of Week Except Friday… Read More »

Solid Waste Management Rules Revised After 16 Years

Solid Waste Management Rules Revised After 16 Years; Rules Now Extend to Urban and Industrial Areas’: Javadekar Central Monitoring Committee Under Environment Secretary to Monitor Implementation The Environment Ministry has revised Solid Waste Management Rules after 16 years.  Addressing a press conference to announce the revised Rules here today, Minister of State (Independent Charge) of… Read More »

Challan for Income Tax Appeal Fees

 Challan for Paying Income Tax Appeal Fees FAQ’s on Challan for Income Tax Appeal Fees :- If I have to deposit fees for filing appeal , which Challan I should Use? Income Tax Challan No. 280 (For Payment of Income tax) Corporate Assessee:- In case you have to deposit appellate fees, copying charges or other miscellaneous… Read More »