Category Archives: other Acts

SEBI issues comprehensive risk management framework for national commodity derivatives exchanges

By | October 8, 2015
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COMPREHENSIVE RISK MANAGEMENT FRAMEWORK FOR NATIONAL COMMODITY DERIVATIVES EXCHANGES CIRCULAR NO.CDMRD/DRMP/01/2015, DATED 1-10-2015 1. Pursuant to section 131 of the Finance Act, 2015 and Central Government notification F.No. 1/9/SM/2015 dated August 28, 2015, all recognized associations under the Forward Contracts (Regulation) Act, 1952 are deemed to be recognized stock exchanges under the Securities Contracts (Regulation)… Read More »

Delaying delivery of flat and non disclosure of stage of completion to buyer was unfair trade practice

By | October 8, 2015
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Summary of Facts Complainant buyer had applied for allotment of a flat with respondent builder .Complainant had paid six instalments but builder did not complete construction of flat within three years as stipulated in brochure and did not inform buyer about progress of construction . Later, builder cancelled allotment on ground of alleged failure of… Read More »

RBI relaxes micro finance norms for Scheduled Castes living below double poverty line

By | October 8, 2015
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NON-BANKING FINANCIAL COMPANY – MICRO FINANCE INSTITUTIONS (NBFC-MFIs) – MODIFICATIONS OF DIRECTIONS CIRCULAR DNBR.CC.PD.NO.069/03.10.01/2015-16, DATED 1-10-2015 In terms of extant instructions on pricing of credit by MFIs, the maximum variance between the minimum and maximum interest rate on loans cannot exceed 4 per cent. 2. The National Scheduled Castes Finance & Development Corporation (NSFDC) under… Read More »

Category: RBI

Govt expands the scope of disclosure of beneficial interest to be made by presiding officer and members of Securities Appellate Tribunal

By | October 8, 2015
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SECURITIES APPELLATE TRIBUNAL (SALARIES, ALLOWANCES AND OTHER TERMS AND CONDITIONS OF PRESIDING OFFICER AND OTHER MEMBERS) AMENDMENT RULES, 2015 – AMENDMENT IN RULES 2, 10 AND 11 NOTIFICATION NO. GSR 683(E) [F.NO.3/5/2015-RE], DATED 3-9-2015 In exercise of the powers conferred by section 15L, read with section 15M, 15-O and clauses (db) and (f) of sub-section… Read More »

CHANGE IN BANK RATE

By | October 7, 2015
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CHANGE IN BANK RATE CIRCULAR DBR.NO.RET.BC.42/12.01.001/2015-16, DATED 29-9-2015 Please refer to our circulars DBR.No.Ret.BC.99/12.01.001/2014-15 dated June 02, 2015 and DCBR.BPD.(PCB/RCB).Cir.No.37/16.11.00/2014-15 dated June 2, 2015 on the captioned subject. 2. As announced in the Fourth Bi-Monthly Monetary Policy Statement 2015-16 dated September 29, 2015, the Bank Rate stands adjusted by 50 basis points from 8.25 per… Read More »

IRDA releases master circular on anti money laundering or counter financing of terrorism

By | October 7, 2015
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ANTI MONEY LAUNDERING/COUNTER FINANCING OF TERRORISM (AML/CFT) GUIDELINES FOR LIFE INSURERS MASTER CIRCULAR NO.IRDAI/SDD/GDL/CIR/175/09/2015, DATED 28-9-2015 1. Background: 1.1 The Prevention of Money Laundering Act (PMLA), 2002 (the Act) brought into force with effect from 1st July 2005, is applicable to all the financial institutions which include Life Insurers. The application of anti-money laundering measures… Read More »

LLPs receiving Foreign Direct Investment shall submit Annual return on foreign liabilities and assets

By | October 7, 2015
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FEMA (TRANSFER OR ISSUE OF SECURITY BY A PERSON RESIDENT OUTSIDE INDIA) (SEVENTH AMENDMENT) REGULATIONS, 2015 – AMENDMENT IN SCHEDULE 9 NOTIFICATION [NO.FEMA.351/2015-RB]/GSR 745(E), DATED 30-9-2015 In exercise of the powers conferred by clause (b) of sub-section (3) of section 6 and section 47 of the Foreign Exchange Management Act, 1999 (42 of 1999), the… Read More »

Copy of doc proving ownership of premises is required for registration under Kerala VAT

By | October 7, 2015
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KERALA VALUE ADDED TAX (AMENDMENT) RULES, 2015 – AMENDMENT IN RULE 17 NOTIFICATION NO.SRO 545/2015, DATED 17-8-2015 In exercise of the powers conferred by section 92 of the Kerala Value Added Tax Act, 2003 (30 of 2004), the Government of Kerala hereby make the following rules further to amend the Kerala Value Added Tax Rules,… Read More »

Govt notifies norms on Digital Signature

By | October 7, 2015
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DIGITAL SIGNATURE (END ENTITY) RULES, 2015 NOTIFICATION NO. GSR 660(E) [F.NO.19/26/2015-CCA], DATED 25-8-2015 In exercise of the powers conferred by section 87 of the Information Technology Act, 2000 (21 of 2000), the Central Government hereby makes the following rules, namely:- 1. Short title and commencement (1) These rules may be called the Digital Signature (End… Read More »

Govt notifies Credit Guarantee Fund Scheme for education loans

By | October 7, 2015
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CREDIT GUARANTEE FUND SCHEME FOR EDUCATION LOANS (CGFSEL) NOTIFICATION NO.18-1/2013-U.5 (VOL.III), DATED 16-9-2015   The following Scheme is published for the information of all concerned:—     CHAPTER I INTRODUCTION Title and date of commencement 1. (i) The Scheme shall be known as the Credit Guarantee Fund Scheme for Education Loans (CGFSEL). (ii) It shall… Read More »