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 »
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 »
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 »
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 »
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/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 »
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 »
Issue Assistant Commissioner, Department of Trade & Taxes, Government of National Capital Territory of Delhi (‘GNCTD’) (Respondent No. 2 herein) rejected the request made by the Petitioner for issuance of C-Forms in relation to the inter-state purchases made by the Petitioner during the third and fourth quarter of Financial Year (‘FY’) 2010-11. It is stated… Read More »
GUIDELINES ON POINT OF SALES PERSON – NON-LIFE & HEALTH INSURERS – ADDITION OF PRODUCTS CIRCULAR NO.IRDA/INT/GDL/ORD/047/03/2016, DATED 11-3-2016 Your attention is drawn to the Guidelines on Point of Sales Person for Non-life and Health Insurers issued vide No.IRDA/lnf/GDL/ORD/183/10/2015 dated 26th October, 2015. Vide the above guidelines, the Authority has introduced the concept of Point… Read More »
REGULATIONS ON PAYMENT OF COMMISSION, REMUNERATION OR REWARD TO INSURANCE AGENTS AND INSURANCE INTERMEDIARIES CIRCULAR NO.IRDA/INT/ORD/COMM/049/03/2016 DATED 15-3-2016 Consequent upon promulgation of Insurance Laws (Amendment) Act, 2015, amendments to the provisions of the Insurance Act, 1938 and the Insurance Regulatory and Development Authority Act, 1999 were effected. The following sections of the Insurance Act, 1938… Read More »