Daily Archives: July 28, 2016

Excise Duty on Jewellery- Gist of all notifications issued

By | July 28, 2016

Simplified Central Excise norms for Jewellery Sector notified In this year’s Budget, central excise duty of 1% without input and capital goods tax credit or 12.5% with credit was imposed on articles of jewellery falling under heading 7113 of the First Schedule to the Central Excise Tariff 1985. Subsequent to that, the Government had set… Read More »

TRAI issues Consultation Paper on “Complaints/Grievance Redressal in Telecom Sector”

By | July 28, 2016

TRAI issues Consultation Paper on “Complaints/Grievance Redressal in Telecom Sector” The telecom sector in India has grown rapidly in the last decade and subscriptions have crossed 1 billion. These subscribers are filing large numbers of complaints with the Telecom Service Providers [TSPs]. The complaints are on account of wrong billing, indifferent or poor quality of… Read More »

Excise Duty on Jewellery –Key Takeaway

By | July 28, 2016

Excise Duty on Jewellery –Key Takeaway The Central Government proposed to impose excise duty on manufacturing of jewellery except silver jewellery (other than studded with diamond and precious stones) in the Union Budget. However, the jewellers protested against such levy of excise duty. They went on strike across the Country demanding withdrawal of excise duty… Read More »

Companies (Accounts) Amendment Rules 2016 Notified

By | July 28, 2016

THE GAZETTE OF INDIA : EXTRAORDINARY [PART II—SEC. 3(i)] MINISTRY OF CORPORATE AFFAIRS NOTIFICATION New Delhi, the 27th July,2016 G.S.R. 742(E).— In exercise of the powers conferred by sub-sections (1) and (3) of section 128, sub section (3) of section 129, section 133, section 134 and section 138 read with section 469 of the Companies… Read More »

Special Court for Delhi for speedy trial of offences punishable under Companies Act, 2013

By | July 28, 2016

THE GAZETTE OF INDIA : EXTRAORDINARY [PART II—SEC. 3(ii)] MINISTRY OF CORPORATE AFFAIRS NOTIFICATION New Delhi, the 27th July, 2016 S.O. 2554(E).—In exercise of the powers conferred by sub-section (1) of section 435 of the Companies Act, 2013 (18 of 2013), the Central Government hereby, with the concurrence of the Chief Justice of the High… Read More »

Retail Participation by Demat Account Holders in Govt. Securities Market: Access to NDS-OM Platform

By | July 28, 2016

RBI/2016-17/30 Ref No. FMRD.DIRD.3/14.03.07/2016-17 July 28, 2016 To All eligible market participants Retail Participation by Demat Account Holders in the Government Securities Market: Access to NDS-OM Platform As announced in the First Bi-monthly Monetary Policy Statement, 2015-16, an Implementation Group with representation from all the stakeholders was constituted to recommend specific measures to enable seamless… Read More »

Category: RBI

RBI revised reporting format for Half yearly/Quarterly Review of Public Sector Banks

By | July 28, 2016

RBI/2016-17/29 Ref.DBS.ARS.No.BC.2/08.91.001/2016-17 July 28, 2016 All Public Sector Banks Dear Sir/Madam, Half yearly/Quarterly Review of Accounts of Public Sector Banks Please refer to our circular DBS.ARS.No.BC.17/08.91.001/2002-03 dated June 5, 2003 on conduct of Half yearly/Quarterly Review of Accounts of Public Sector Banks. 2. The reporting format has been revised as per the annex. You may,… Read More »

Guidelines for areas affected by Natural Calamities extended to NBFCs

By | July 28, 2016

RBI/2016-17/28 DNBR (PD) CC.No.083/03.10.001/2016-17 July 28, 2016 All Non-Banking Financial Companies Madam/ Sir, Guidelines for Relief Measures by NBFCs in areas affected by Natural Calamities The Reserve Bank has issued guidelines to banks in regard to matters relating to relief measures to be provided in areas affected by natural calamities videFIDD.No.FSD.BC.52/05.10.001/2014-15 dated March 25, 2015,… Read More »

Category: RBI

Revised loan limit for Micro Finance Institutions by NBFC

By | July 28, 2016

RBI/2016-17/27 FIDD.CO.Plan.BC.No.8/04.09.001/2016-17 July 28, 2016 The Chairman/ Managing Director/ Chief Executive Officer [All Scheduled Commercial Banks (excluding RRBs)] Dear Sir/ Madam, Priority Sector Lending –Targets and Classification- Bank loans to MFIs for on-lending – Qualifying asset – Revised loan limit Please refer to paragraph 19 (b) (iv) of the Master Direction on Priority Sector Lending… Read More »

Category: RBI