Daily Archives: April 15, 2016

Check Your exemption in CA Inter or Final valid for May 2016 Exam

15th April, 2016 Re: Hosting of exemption(s) in a paper granted in Intermediate and Final examinations, valid for May, 2016. Exemption(s) in a paper(s) are granted to candidates of Intermediate and Final examinations, in terms of Regulation 37C(8) and Regulation 38C(6), respectively, of the Chartered Accountants Regulations 1988. The rules in this regard are provided… Read More »

CBEC guidelines to quasi judicial authorities

DECISION OF CESTAT FINAL ORDER NO.40344/2016 IN CASE OF COMMISSIONER OF CUSTOMS (IMPORT) V. DO BEST INFOWAY INSTRUCTION F.NO.390/CESTAT/24/2016-JC, DATED 13-4-2016 CESTAT Final Order No 40344/2016 dated 29th February 2016 in the case of Commissioner of Customs (Import) Vs Do Best Infoway has commented adversely as paras 9 to 13, the casual manner in which… Read More »

RBI to issue of ₹ 10 banknotes with inset letter ‘L’

The Reserve Bank of India will shortly issue ₹ 10 denomination banknotes in the Mahatma Gandhi Series-2005, with the inset letter ‘L’, bearing the signature of Dr. Raghuram G.Rajan, Governor, Reserve Bank of India, and the year of printing ‘2016‘ printed on the reverse of the banknote. The design of these banknotes to be issued… Read More »

Financial Assistance to UCB’s for Implementation of CBS

RBI/2015-16/368 DCBR.CO.PCB.Cir.No.14/09.18.300/2015-16 Chaitra 24,1938 April 13, 2016 Chief Executive Officers Primary (Urban) Cooperative Banks Dear Sir/Madam Scheme for providing Financial Assistance to Urban Cooperative Banks for Implementation of Core Banking Solution As announced in the First Bi-monthly Monetary Policy Statement-2016-17 dated April 05, 2016 (copy enclosed), it has been decided to prescribe standards and benchmarks… Read More »

Currency chests Banks to conduct fire audits bi-annually

RBI/2015-16/369 DCM (CC) No. G – 11/3445/03.39.01/2015-16 April 13, 2016 The Chairman & Managing Director Chief Executive Officer / Managing Director All Banks having Currency Chests Madam / Dear Sir, Security / Inspection needs and Movement of Treasure Please refer to the guidelines contained in the Technical specifications issued by us vide DCM (CC) No.… Read More »

Category: RBI

Qualifying Assets crietria for NBFC-MFI acting as channelizing agents

RBI/2015-16/370 DNBR.CC.PD.No.078/03.10.038/2015-16 April 13, 2016 To All NBFC-MFIs, Dear Sir/Madam, Non-Banking Financial Company-Micro Finance Institutions (Reserve Bank) Directions, 2011 – Acting as Channelizing Agents for Schemes operated by Central/State Government Agencies Please refer to the Non-Banking Financial Company -Micro Finance Institutions (NBFC-MFIs) (Reserve Bank) Directions, 2011 (the Directions) issued by Reserve Bank of India (the… Read More »

No RBI approval for accepting deposit u/s160 of Companies Act

RBI/2015-16/371 A.P. (DIR Series) Circular No.59 April 13, 2016 To All Authorised Dealer Banks Madam / Sir, Acceptance of deposits by Indian companies from a person resident outside India for nomination as Director Attention of Authorised Dealers Banks is invited to Regulation 3 of the Foreign Exchange Management (Deposit) Regulations, 2016, notified vide Notification No.… Read More »

Submission of Annual Performance Report in ODI form :RBI revised norms

RBI/2015-16/373 A.P. (DIR Series) Circular No.61 April 13, 2016 To All Category – I Authorised Dealer Banks Madam/Sir, Overseas Direct Investment – Submission of Annual Performance Report Attention of the Authorised Dealer (AD – Category I) banks is invited to the Notification No. FEMA 120/RB-2004 dated July 7, 2004 [Foreign Exchange Management (Transfer or Issue… Read More »

revised ODI Form for Overseas Direct Investment

RBI//2015-16/374 A.P. (DIR Series) Circular No.62 April 13, 2016 To All Category-I Authorised Dealer Banks Madam / Sir, Overseas Direct Investment (ODI) – Rationalization and reporting of ODI Forms Attention of the Authorised Dealer (AD – Category I) banks is invited to the Notification No. FEMA 120/RB-2004 dated July 7, 2004 [Foreign Exchange Management (Transfer… Read More »

Port Congestion Surcharge withdrawn by Railway

Railways Decides to Withdraw the Levy of Port Congestion Surcharge Key benefits of withdrawal of Port Congestion Surcharge  :- The Decision is One of the Significant Steps in the Direction of Rationalization of Freight Rate Structure Initiated by the Railways Indian Railways is moving ahead with big bang reforms as announced in the Railway Budget. In… Read More »