Category Archives: other Acts

Infrastructure Lending Definition -NBFC to be guided by Govt Gazette Notifications

By | March 2, 2017
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RBI/2016-17/242 DNBR.PD.CC.No.085/03.10.001/2016-17 March 2, 2017 All Non-Banking Financial Companies Dear Sir/ Madam, Infrastructure Financing- Definition of ‘Infrastructure Lending’ Please refer to the definition of ‘Infrastructure Lending’ contained in the Non-Banking Financial Company – Systemically Important Non-Deposit taking Company and Deposit taking Company (Reserve Bank) Directions, 2016 and Non-Banking Financial Company – Non-Systemically Important Non-Deposit taking… Read More »

Financial Literacy and rural branches – Policy Review by RBI

By | March 2, 2017
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Financial Literacy by FLCs (Financial Literacy Centres) and rural branches – Policy Review RBI/2016-17/236 FIDD.FLC.BC.No.22/12.01.018/2016-17 March 02, 2017 To Chairman/MD & CEO Scheduled Commercial Banks (Including RRBs) Dear Sir/Madam, Financial Literacy by FLCs (Financial Literacy Centres) and rural branches – Policy Review Please refer to our circular FIDD.FLC.BC.No.18/12.01.018/2015-16 dated January 14, 2016 on guidelines for… Read More »

Category: RBI

RBI Establishes an Inter-disciplinary Standing Committee on Cyber Security

By | February 28, 2017
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Date : Feb 28, 2017 Reserve Bank Establishes an Inter-disciplinary Standing Committee on Cyber Security The Reserve Bank of India has set up an Inter-disciplinary Standing Committee on Cyber Security to, inter alia, review the threats inherent in the existing/emerging technology; study adoption of various security standards/protocols; interface with stakeholders; and suggest appropriate policy interventions… Read More »

Category: RBI

Tax , Interest and Penalty as defined in Supreme Court Judgment

By | February 26, 2017
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In fiscal Statutes, the import of the word-“tax”,”interest”,”penalty”, etc.are well known. They are different concepts. Tax is the amount payable as a result of the charging provision . It is a compulsory extraction of money by a public authority for public purposes, the payment of which is enforce by law. Penalty is ordinarily levied on… Read More »

CPE Hours Requirements from 01.01.2017 to 31.12.2019 – for CA members

By | February 25, 2017
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CPE HOURS REQUIREMENTS FOR THE BLOCK PERIOD OF 3 YEARS (1-1-2017 TO 31.12.2019) TO BE COMPLIED WITH BY DIFFERENT CATEGORIES OF MEMBERS All the members (aged less than 60 years) who are holding Certificate of Practice (except all those members who are residing abroad) are required to: Complete at least 120 CPE credit hours in… Read More »

RBI Master Direction – Money Changing Activities (Updated as on February 22, 2017)

By | February 24, 2017
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RBI/FED/2015-16/17 FED Master Direction No.3/2015-16 January 1, 2016 (Updated as on February 22, 2017) To All Authorised Persons in Foreign Exchange Madam / Dear Sir, Master Direction – Money Changing Activities In terms of Section 10 of the Foreign Exchange Management Act, 1999, Reserve Bank authorises persons designated as Authorised Persons to deal in foreign… Read More »

Category: RBI

Money Transfer Service Scheme (MTSS) – RBI Master Direction – Personal remittances from abroad to India

By | February 23, 2017
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Master Direction – Money Transfer Service Scheme (MTSS) RBI/FED/2016-17/52 FED Master Direction No.1/2016-17 February 22, 2017 To All Authorised Persons who are Indian Agents under the Money Transfer Service Scheme Madam / Dear Sir, Master Direction – Money Transfer Service Scheme (MTSS) Money Transfer Service Scheme (MTSS) is a quick and easy way of transferring… Read More »

Sovereign Gold Bonds 2016-17 – Series IV – Operational Guidelines

By | February 23, 2017
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Sovereign Gold Bonds, 2016-17 – Series IV – Operational Guidelines RBI/2016-17/235 IDMD.CDD.No.2188/14.04.050/2016-17 February 23, 2017 The Chairman & Managing Director All Scheduled Commercial Banks (Excluding RRBs) Designated Post Offices Stock Holding Corporation of India ltd.(SHCIL) National Stock Exchange of India Ltd. & Bombay Stock Exchange Ltd. Dear Sir/Madam, Sovereign Gold Bonds, 2016-17 – Series IV… Read More »

Sovereign Gold Bonds 2016-17 – Series IV (Revised)

By | February 23, 2017
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Sovereign Gold Bonds 2016-17 – Series IV (Revised) RBI/2016-17/234 IDMD.CDD.No.2187/14.04.050/2016-17 February 23, 2017 The Chairman & Managing Director All Scheduled Commercial Banks, (Excluding RRBs) Designated Post Offices Stock Holding Corporation of India Ltd.(SHCIL) National Stock Exchange of India Ltd. & Bombay Stock Exchange Ltd. Dear Sir/Madam, Sovereign Gold Bonds 2016-17 – Series IV Government of… Read More »