"17 March 2017" Archive - Page 3

Cybercrime audit on banks to check loopholes

To address the issue of cyber resilience, RBI vide circular dated December 9, 2016 had instructed all authorised entities / banks issuing PPIs in the country to: (i) Carry out a special audit by the empanelled auditors of Indian Computer Emergency Response Team (CERT-In) on a priority basis and take immediate steps thereafter to comply [&...

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Posted Under: Fema / RBI |

9 Criterias to Assess Performance of Private Insurance Companies

Performance of private insurance companies are assessed through the following: - i.) Analysis of the financial statements and corporate governance report of the insurance companies on annual basis. ii.) Analysis of the statement of expenses of management and payment of commission on an annual basis....

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Posted Under: Fema / RBI |

Upload regulatory orders and arbitration matters on website: SEBI

Circular No. SEBI/HO/MRD/DRMNP/CIR/P/2017/24 (16/03/2017)

In order to improve transparency in disclosing the regulatory orders and arbitration awards issued by clearing corporations, it has been decided that all regulatory orders i.e. orders against clearing members and arbitration / appellate awards by arbitrators need to be made available to investors....

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Reforms to Boost Commodities Trading

Regulatory reforms are continuous process and steps are taken continuously to further strengthen and develop commodities derivatives markets. Subsequent to the merger of the erstwhile Forward Markets Commission (FMC) with the Securities and Exchange Board of India (SEBI) in September 2015, SEBI has taken several steps towards reforming an...

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Posted Under: Fema / RBI |

Demonetisation: Critics Silenced as India moves ahead

Demonetisation broke the backs of those who threatened national security and sent a clear message that it was no longer business as usual. Large deposits are under scrutiny to verify their authenticity....

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Posted Under: Fema / RBI |

Reporting and Accounting of Central Govt Transactions of March 2017

Notification No. DGBA.GAD.No. 2376/42.01.029/2016-17-RBI (16/03/2017)

The Government of India has decided that the date of closure of residual transactions for the month of March 2017 be fixed as April 10, 2017 for the Financial Year 2016-17....

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Waiver of Late Fee for late filing of VAT, CST, PT & Luxry Tax returns

Waiver of Late Fee for late filing of VAT and CST returns in Maharashtra The Trade has represented that many technical difficulties are being faced by them while filing their returns and therefore the late fees for delayed filing of returns should be waived. The issue was examined and in order to provide relief to […]...

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Posted Under: Fema / RBI |

Banks branches accepting taxes to remain open till 8 PM on 31.03.2017

Notification No. DGBA.GAD.No. 2377/42.01.029/2016-17-RBI (16/03/2017)

All agency banks should keep the counters of their designated branches conducting government business open for government transactions up to 6.00 p.m. on March 30, 2017 and up to 8.00 p.m. on March 31, 2017....

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Pradhan Mantri Garib Kalyan Deposit Scheme, 2016 – Clarification

Notification No. IDMD.CDD.No. 2347/14.04.051/2016-17-RBI (16/03/2017)

Currently, banks are issuing an acknowledgement for having received the amounts under PMGKDS. The details of the deposit are then entered in the Bank’s e-kuber application which generates a Subscription Receipt....

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SEBI releases updated format of draft offer letter under takeover code

Circular No. SEBI/HO/CFD/DCR1/CIR/P/201 7/22 (15/03/2017)

It has been decided, in consultation with market participants, to revise the time period for which information is required to be filed with SEBI, in line with the provisions relating to maintenance of records under the Companies Act, 2013. The format and instructions prescribed vide aforementioned Circular shall stand modified as given at...

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