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	<title>TaxGuru &#187; banks</title>
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	<link>http://taxguru.in</link>
	<description>Complete Tax Solution</description>
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		<item>
		<title>Clean chit to banks, housing finance cos on foreclosure penalty</title>
		<link>http://taxguru.in/corporate-law/clean-chit-to-banks-housing-finance-cos-on-foreclosure-penalty.html</link>
		<comments>http://taxguru.in/corporate-law/clean-chit-to-banks-housing-finance-cos-on-foreclosure-penalty.html#comments</comments>
		<pubDate>Thu, 09 Dec 2010 16:40:38 +0000</pubDate>
		<dc:creator>admin</dc:creator>
				<category><![CDATA[Corporate Law]]></category>
		<category><![CDATA[banks]]></category>
		<category><![CDATA[CCI]]></category>
		<category><![CDATA[Competition Commission of India]]></category>
		<category><![CDATA[foreclosure penalty]]></category>
		<category><![CDATA[Home Loan]]></category>

		<guid isPermaLink="false">http://taxguru.in/clean-chit-to-banks-housing-finance-cos-on-foreclosure-penalty-888.html</guid>
		<description><![CDATA[The levy of a penalty by banks and housing finance companies for foreclosure of home loans does not amount to abuse of dominant position, the Competition Commission of India (CCI) ruled on Tuesday, quashing borrowers’ hopes that the practice could be]]></description>
		<wfw:commentRss>http://taxguru.in/corporate-law/clean-chit-to-banks-housing-finance-cos-on-foreclosure-penalty.html/feed/</wfw:commentRss>
		<slash:comments>1</slash:comments>
		</item>
		<item>
		<title>RBI advises banks to disclose all charges in loan application forms</title>
		<link>http://taxguru.in/rbi/rbi-advises-banks-to-disclose-all-charges-in-loan-application-forms.html</link>
		<comments>http://taxguru.in/rbi/rbi-advises-banks-to-disclose-all-charges-in-loan-application-forms.html#comments</comments>
		<pubDate>Fri, 03 Dec 2010 02:38:38 +0000</pubDate>
		<dc:creator>admin</dc:creator>
				<category><![CDATA[RBI]]></category>
		<category><![CDATA[banks]]></category>
		<category><![CDATA[Financial Institutions]]></category>
		<category><![CDATA[loan application forms]]></category>
		<category><![CDATA[loans]]></category>

		<guid isPermaLink="false">http://taxguru.in/rbi-advises-banks-to-disclose-all-charges-in-loan-application-forms-804.html</guid>
		<description><![CDATA[The Reserve Bank of India (RBI) has once again advised banks and financial institutions to ensure that all information relating to charges or fees for processing of loans should be disclosed in the loan application forms. This is applicable to all lo]]></description>
		<wfw:commentRss>http://taxguru.in/rbi/rbi-advises-banks-to-disclose-all-charges-in-loan-application-forms.html/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Soon Banks may close your savings account if cheques are issued without sufficient funds in the account.</title>
		<link>http://taxguru.in/rbi/soon-banks-may-close-your-savings-account-if-cheques-are-issued-without-sufficient-funds-in-the-account.html</link>
		<comments>http://taxguru.in/rbi/soon-banks-may-close-your-savings-account-if-cheques-are-issued-without-sufficient-funds-in-the-account.html#comments</comments>
		<pubDate>Sat, 13 Nov 2010 07:25:48 +0000</pubDate>
		<dc:creator>admin</dc:creator>
				<category><![CDATA[RBI]]></category>
		<category><![CDATA[Av]]></category>
		<category><![CDATA[banks]]></category>
		<category><![CDATA[CHEQUE-WRITING GUIDELINES]]></category>
		<category><![CDATA[ECS]]></category>
		<category><![CDATA[electronic clearing services]]></category>
		<category><![CDATA[insufficient balance]]></category>
		<category><![CDATA[sbi]]></category>
		<category><![CDATA[state bank of india]]></category>

		<guid isPermaLink="false">http://taxguru.in/soon-banks-may-close-your-savings-account-if-cheques-are-issued-without-sufficient-funds-in-the-account.-575.html</guid>
		<description><![CDATA[You may need to be extra careful while writing cheques in future. Bank regulator Reserve Bank of India (RBI) as well as banks are becoming more strict about individuals issuing cheques. Very often, individuals sign cheques irrespective of the balance]]></description>
		<wfw:commentRss>http://taxguru.in/rbi/soon-banks-may-close-your-savings-account-if-cheques-are-issued-without-sufficient-funds-in-the-account.html/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Financial intermediaries will have to maintain specific information about their clients’ political links</title>
		<link>http://taxguru.in/rbi/financial-intermediaries-will-have-to-maintain-specific-information-about-their-clients%e2%80%99-political-links.html</link>
		<comments>http://taxguru.in/rbi/financial-intermediaries-will-have-to-maintain-specific-information-about-their-clients%e2%80%99-political-links.html#comments</comments>
		<pubDate>Wed, 23 Jun 2010 16:03:53 +0000</pubDate>
		<dc:creator>admin</dc:creator>
				<category><![CDATA[RBI]]></category>
		<category><![CDATA[banks]]></category>
		<category><![CDATA[Bushan Bahal]]></category>
		<category><![CDATA[Clause 5.5(a)]]></category>
		<category><![CDATA[FATF]]></category>
		<category><![CDATA[Monitor clients]]></category>
		<category><![CDATA[PEPs]]></category>
		<category><![CDATA[Political links]]></category>
		<category><![CDATA[Prevention of Money Laundering Act]]></category>
		<category><![CDATA[stocks brokers]]></category>

		<guid isPermaLink="false">http://www.taxguru.in/?p=30091</guid>
		<description><![CDATA[All financial intermediaries, including banks and stocks brokers, will have to maintain specific information about their clients’ political links, if any. This is due to the amendment to the Prevention of Money Laundering Act (PMLA) 2002, notified by the Reserve Bank of India (RBI) on June 9 and the Securities and Exchange Board of India (Sebi) on June 14.]]></description>
		<wfw:commentRss>http://taxguru.in/rbi/financial-intermediaries-will-have-to-maintain-specific-information-about-their-clients%e2%80%99-political-links.html/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>RBI likely to hike CRR , Repo Rate and Reverse Repo Rate</title>
		<link>http://taxguru.in/rbi/rbi-likely-to-hike-crr-repo-rate-and-reverse-repo-rate.html</link>
		<comments>http://taxguru.in/rbi/rbi-likely-to-hike-crr-repo-rate-and-reverse-repo-rate.html#comments</comments>
		<pubDate>Tue, 26 Jan 2010 15:21:37 +0000</pubDate>
		<dc:creator>admin</dc:creator>
				<category><![CDATA[RBI]]></category>
		<category><![CDATA[banks]]></category>
		<category><![CDATA[comfort zone]]></category>
		<category><![CDATA[inflationary pressure]]></category>
		<category><![CDATA[interest rate hikes]]></category>
		<category><![CDATA[liquidity]]></category>
		<category><![CDATA[MONETARY POLICY]]></category>
		<category><![CDATA[money]]></category>
		<category><![CDATA[price inflation]]></category>
		<category><![CDATA[speculations]]></category>
		<category><![CDATA[wholesale]]></category>
		<category><![CDATA[wholesale price]]></category>

		<guid isPermaLink="false">http://www.taxguru.in/?p=20103</guid>
		<description><![CDATA[Ahead of the Reserve Bank's quarterly monetary policy, RBI  is likely to signal interest rate hikes to suck out liquidity from the market and check prices from spiraling further.  Reserve Bank may also raise the amount banks need to park with the apex bank (CRR) by up to 50 basis points.  Reserve Bank could raise the short-term borrowing (reverse repo) rate by 25 basis points. Reserve bank is likely to hike cash reverse ratio by up to 50 basis points.]]></description>
		<wfw:commentRss>http://taxguru.in/rbi/rbi-likely-to-hike-crr-repo-rate-and-reverse-repo-rate.html/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Income tax department  decided to take up fewer tax returns for scrutiny this year</title>
		<link>http://taxguru.in/income-tax/income-tax-department-decided-to-take-up-fewer-tax-returns-for-scrutiny-this-year.html</link>
		<comments>http://taxguru.in/income-tax/income-tax-department-decided-to-take-up-fewer-tax-returns-for-scrutiny-this-year.html#comments</comments>
		<pubDate>Wed, 20 Jan 2010 03:57:02 +0000</pubDate>
		<dc:creator>admin</dc:creator>
				<category><![CDATA[Income Tax]]></category>
		<category><![CDATA[banks]]></category>
		<category><![CDATA[chief commissioner]]></category>
		<category><![CDATA[corruption]]></category>
		<category><![CDATA[direct taxes]]></category>
		<category><![CDATA[Income tax department]]></category>
		<category><![CDATA[insurance]]></category>
		<category><![CDATA[insurance companies]]></category>
		<category><![CDATA[interface]]></category>
		<category><![CDATA[national securities depository]]></category>
		<category><![CDATA[pan cards]]></category>
		<category><![CDATA[Scrutiny]]></category>
		<category><![CDATA[Tax Evasion]]></category>
		<category><![CDATA[tax returns]]></category>
		<category><![CDATA[taxpayers]]></category>

		<guid isPermaLink="false">http://www.taxguru.in/?p=19747</guid>
		<description><![CDATA[If you’re worried about what questions your income tax officer will ask about your returns, you can relax a bit. The department has decided to take up fewer tax returns for scrutiny this year. The Central Board of Direct Taxes had issued an internal circular in December 2009, asking commissioners to select fewer cases for scrutiny.]]></description>
		<wfw:commentRss>http://taxguru.in/income-tax/income-tax-department-decided-to-take-up-fewer-tax-returns-for-scrutiny-this-year.html/feed/</wfw:commentRss>
		<slash:comments>1</slash:comments>
		</item>
		<item>
		<title>Beauty rides vitamin M</title>
		<link>http://taxguru.in/income-tax/beauty-rides-on-big-bucks.html</link>
		<comments>http://taxguru.in/income-tax/beauty-rides-on-big-bucks.html#comments</comments>
		<pubDate>Sat, 16 Jan 2010 01:58:31 +0000</pubDate>
		<dc:creator>admin</dc:creator>
				<category><![CDATA[Income Tax]]></category>
		<category><![CDATA[apartment]]></category>
		<category><![CDATA[banks]]></category>
		<category><![CDATA[clientele]]></category>
		<category><![CDATA[crores]]></category>
		<category><![CDATA[cupboards]]></category>
		<category><![CDATA[currency]]></category>
		<category><![CDATA[mahindra]]></category>
		<category><![CDATA[mattresses]]></category>
		<category><![CDATA[personalities]]></category>
		<category><![CDATA[sbi]]></category>
		<category><![CDATA[security provider]]></category>
		<category><![CDATA[vile parle]]></category>

		<guid isPermaLink="false">http://www.taxguru.in/?p=19468</guid>
		<description><![CDATA[Nutritionist Dr Sarita Davare, recently caught in the tax net (the income tax department recovered Rs 7.5 crore from her), is the city's best kept secret. We spent the best part of the day trying to get a picture of the lady, but failed. However, the recent IT raid on her brings the spotlight on big bucks that the fitness industry rides on.]]></description>
		<wfw:commentRss>http://taxguru.in/income-tax/beauty-rides-on-big-bucks.html/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Mergers of banks will not be forced by Government</title>
		<link>http://taxguru.in/finance/mergers-of-banks-will-not-be-forced-by-government.html</link>
		<comments>http://taxguru.in/finance/mergers-of-banks-will-not-be-forced-by-government.html#comments</comments>
		<pubDate>Wed, 13 Jan 2010 02:25:05 +0000</pubDate>
		<dc:creator>admin</dc:creator>
				<category><![CDATA[Finance]]></category>
		<category><![CDATA[acquisitions]]></category>
		<category><![CDATA[amalgamation]]></category>
		<category><![CDATA[banking system]]></category>
		<category><![CDATA[banks]]></category>
		<category><![CDATA[consolidation]]></category>
		<category><![CDATA[economics]]></category>
		<category><![CDATA[efficiencies]]></category>
		<category><![CDATA[entities]]></category>
		<category><![CDATA[financial services]]></category>
		<category><![CDATA[freedom]]></category>
		<category><![CDATA[human resource issues]]></category>
		<category><![CDATA[merger moves]]></category>
		<category><![CDATA[merger proposals]]></category>
		<category><![CDATA[mergers]]></category>
		<category><![CDATA[mutual interest]]></category>
		<category><![CDATA[mutual interests]]></category>
		<category><![CDATA[optimisation]]></category>
		<category><![CDATA[synergies]]></category>
		<category><![CDATA[time frame]]></category>

		<guid isPermaLink="false">http://www.taxguru.in/?p=19237</guid>
		<description><![CDATA[Mergers on individual banks will not be forced, and no time frame has been set for the consolidation process in the banking system, financial services secretary R Gopalan said today. Merger of state-run banks should be done with a view to bring in good synergies, on mutual interests of the concerned entities, and government will not compel the consolidation process on individual banks, he said said at a Bancon conference here.]]></description>
		<wfw:commentRss>http://taxguru.in/finance/mergers-of-banks-will-not-be-forced-by-government.html/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Banking Regulation Act, 1949 (As Applicable to Co-operative Societies) Section 24- Investment in Government and other approved securities by Urban Co-operative Banks (UCBs)</title>
		<link>http://taxguru.in/rbi/banking-regulation-act-1949-as-applicable-to-co-operative-societies-section-24-investment-in-government-and-other-approved-securities-by-urban-co-operative-banks-ucbs.html</link>
		<comments>http://taxguru.in/rbi/banking-regulation-act-1949-as-applicable-to-co-operative-societies-section-24-investment-in-government-and-other-approved-securities-by-urban-co-operative-banks-ucbs.html#comments</comments>
		<pubDate>Fri, 18 Dec 2009 17:31:57 +0000</pubDate>
		<dc:creator>admin</dc:creator>
				<category><![CDATA[RBI]]></category>
		<category><![CDATA[banking regulation]]></category>
		<category><![CDATA[banks]]></category>
		<category><![CDATA[regulation act]]></category>
		<category><![CDATA[section 24]]></category>
		<category><![CDATA[urban co]]></category>

		<guid isPermaLink="false">http://www.taxguru.in/?p=17612</guid>
		<description><![CDATA[2. With a view to disseminating information on the SLR status of a Government security, it has been decided that: (i) the SLR status of securities issued by the Government of India and the State Governments will be indicated in the Press Release issued by the Reserve Bank of India at the time of issuance of the securities; and (ii) an updated and current list of the SLR securities will be posted on the Reserve Bank's website (www.rbi.org. in) under the link " Database on Indian Economy".]]></description>
		<wfw:commentRss>http://taxguru.in/rbi/banking-regulation-act-1949-as-applicable-to-co-operative-societies-section-24-investment-in-government-and-other-approved-securities-by-urban-co-operative-banks-ucbs.html/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>List of terrorist individuals/organisations &#8211; under UNSCR 1267(1999) and 1822 (2008) on Taliban/Al-Qaida Organisation</title>
		<link>http://taxguru.in/rbi/list-of-terrorist-individualsorganisations-under-unscr-12671999-and-1822-2008-on-talibanal-qaida-organisation.html</link>
		<comments>http://taxguru.in/rbi/list-of-terrorist-individualsorganisations-under-unscr-12671999-and-1822-2008-on-talibanal-qaida-organisation.html#comments</comments>
		<pubDate>Thu, 17 Dec 2009 14:20:52 +0000</pubDate>
		<dc:creator>admin</dc:creator>
				<category><![CDATA[RBI]]></category>
		<category><![CDATA[al qaida]]></category>
		<category><![CDATA[amendments]]></category>
		<category><![CDATA[banks]]></category>
		<category><![CDATA[compliance]]></category>
		<category><![CDATA[government of india]]></category>
		<category><![CDATA[ministry of external affairs]]></category>
		<category><![CDATA[nations security council]]></category>
		<category><![CDATA[order dated august]]></category>
		<category><![CDATA[taliban]]></category>
		<category><![CDATA[united nations]]></category>
		<category><![CDATA[united nations security]]></category>
		<category><![CDATA[united nations security council]]></category>

		<guid isPermaLink="false">http://www.taxguru.in/?p=17498</guid>
		<description><![CDATA[State and Central Co-operative Banks are required to update the consolidated list of individuals/entities as circulated by Reserve Bank and before opening any new account, it should be ensured that the name/s of the proposed customer does not appear in the list. Further, banks should scan all existing accounts to ensure that no account is held by or linked to any of the entities or individuals included in the list.]]></description>
		<wfw:commentRss>http://taxguru.in/rbi/list-of-terrorist-individualsorganisations-under-unscr-12671999-and-1822-2008-on-talibanal-qaida-organisation.html/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>RBI will ask banks to provide details of their direct and indirect exposure to Dubai</title>
		<link>http://taxguru.in/rbi/rbi-will-ask-banks-to-provide-details-of-their-direct-and-indirect-exposure-to-dubai.html</link>
		<comments>http://taxguru.in/rbi/rbi-will-ask-banks-to-provide-details-of-their-direct-and-indirect-exposure-to-dubai.html#comments</comments>
		<pubDate>Mon, 30 Nov 2009 02:56:57 +0000</pubDate>
		<dc:creator>admin</dc:creator>
				<category><![CDATA[RBI]]></category>
		<category><![CDATA[axis bank]]></category>
		<category><![CDATA[bank executive]]></category>
		<category><![CDATA[bank of baroda]]></category>
		<category><![CDATA[bank of india]]></category>
		<category><![CDATA[banks]]></category>
		<category><![CDATA[bombay stock exchange]]></category>
		<category><![CDATA[dubai government]]></category>
		<category><![CDATA[holding company]]></category>
		<category><![CDATA[icici bank]]></category>
		<category><![CDATA[indian clients]]></category>
		<category><![CDATA[indian overseas bank]]></category>
		<category><![CDATA[indirect exposure]]></category>
		<category><![CDATA[real estate developer]]></category>
		<category><![CDATA[reserve bank of india]]></category>
		<category><![CDATA[united arab emirates]]></category>
		<category><![CDATA[west asia]]></category>

		<guid isPermaLink="false">http://www.taxguru.in/?p=15876</guid>
		<description><![CDATA[While RBI played down the issue, it emerged that Bank of Baroda (BoB) had an exposure of around $200 million (Rs 928 crore at Friday’s rates) to Dubai World, a senior bank executive said. “The amount is due for repayment only after 2011. It is paying interest and there are no overdues. So, we have absolutely no immediate concern,” a senior bank executive said.]]></description>
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		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>RBI may soon issue new Norms on NPA</title>
		<link>http://taxguru.in/rbi/rbi-may-soon-issue-new-norms-on-npa.html</link>
		<comments>http://taxguru.in/rbi/rbi-may-soon-issue-new-norms-on-npa.html#comments</comments>
		<pubDate>Wed, 18 Nov 2009 03:15:26 +0000</pubDate>
		<dc:creator>admin</dc:creator>
				<category><![CDATA[RBI]]></category>
		<category><![CDATA[assets]]></category>
		<category><![CDATA[banks]]></category>
		<category><![CDATA[consistent policy]]></category>
		<category><![CDATA[coverage ratio]]></category>
		<category><![CDATA[cushions]]></category>
		<category><![CDATA[MONETARY POLICY]]></category>
		<category><![CDATA[norms]]></category>
		<category><![CDATA[npas]]></category>
		<category><![CDATA[portfolios]]></category>
		<category><![CDATA[provisions]]></category>
		<category><![CDATA[subbarao]]></category>

		<guid isPermaLink="false">http://www.taxguru.in/?p=14851</guid>
		<description><![CDATA[The Reserve Bank said it will soon come out with norms for banks to augment the capital requirements that the lenders have to keep aside against bad assets. “We will be issuing the circular (provisioning against NPAs) so you can then see details on that,” RBI deputy governor Usha Thorat told.]]></description>
		<wfw:commentRss>http://taxguru.in/rbi/rbi-may-soon-issue-new-norms-on-npa.html/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Reserve Bank of India will soon issue guidelines on provisioning rules</title>
		<link>http://taxguru.in/rbi/reserve-bank-of-india-will-soon-issue-guidelines-on-provisioning-rules.html</link>
		<comments>http://taxguru.in/rbi/reserve-bank-of-india-will-soon-issue-guidelines-on-provisioning-rules.html#comments</comments>
		<pubDate>Sat, 31 Oct 2009 17:07:40 +0000</pubDate>
		<dc:creator>admin</dc:creator>
				<category><![CDATA[RBI]]></category>
		<category><![CDATA[banks]]></category>
		<category><![CDATA[coverage ratio]]></category>
		<category><![CDATA[currency futures]]></category>
		<category><![CDATA[deputy governor]]></category>
		<category><![CDATA[futures market]]></category>
		<category><![CDATA[little more time]]></category>
		<category><![CDATA[non performing assets]]></category>
		<category><![CDATA[norm]]></category>
		<category><![CDATA[policy document]]></category>
		<category><![CDATA[provisions]]></category>
		<category><![CDATA[reserve bank of india]]></category>
		<category><![CDATA[risk management]]></category>
		<category><![CDATA[risk mangement]]></category>

		<guid isPermaLink="false">http://www.taxguru.in/?p=14016</guid>
		<description><![CDATA[The Reserve Bank of India will soon issue guidelines on meeting provisioning rules and some banks have sought time to meet them, its deputy governor Shyamala Gopinath said on Friday. "Banks have made certain submissions to us in the policy, in terms of little more time. We are going to come up with guidelines soon," Gopinath said.]]></description>
		<wfw:commentRss>http://taxguru.in/rbi/reserve-bank-of-india-will-soon-issue-guidelines-on-provisioning-rules.html/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>RBi Circular on Payment of interest on Saving Bank Account on a Daily Product Basis</title>
		<link>http://taxguru.in/rbi/rbi-circular-on-payment-of-interest-on-saving-bank-account-on-a-daily-product-basis.html</link>
		<comments>http://taxguru.in/rbi/rbi-circular-on-payment-of-interest-on-saving-bank-account-on-a-daily-product-basis.html#comments</comments>
		<pubDate>Tue, 13 Oct 2009 13:22:07 +0000</pubDate>
		<dc:creator>admin</dc:creator>
				<category><![CDATA[RBI]]></category>
		<category><![CDATA[bank accounts]]></category>
		<category><![CDATA[banks]]></category>
		<category><![CDATA[calendar month]]></category>
		<category><![CDATA[minimum balance]]></category>
		<category><![CDATA[modalities]]></category>
		<category><![CDATA[product basis]]></category>
		<category><![CDATA[saving bank]]></category>
		<category><![CDATA[savings deposits]]></category>
		<category><![CDATA[smooth transition]]></category>

		<guid isPermaLink="false">http://www.taxguru.in/?p=13530</guid>
		<description><![CDATA[Please refer to paragraph 3 (iii) of our directive RPCD.No.RF.Dir. BC.53/D.1- 87/88 dated November 2, 1987, in terms of which interest in the case of savings deposits shall be calculated on the minimum balance to the credit of the deposit account during the period from the 10th to the last day of each calendar month.]]></description>
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		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>RBI Circular on Advance Remittance for import of Services</title>
		<link>http://taxguru.in/fema/rbi-circular-on-advance-remittance-for-import-of-services.html</link>
		<comments>http://taxguru.in/fema/rbi-circular-on-advance-remittance-for-import-of-services.html#comments</comments>
		<pubDate>Tue, 06 Oct 2009 16:43:57 +0000</pubDate>
		<dc:creator>admin</dc:creator>
				<category><![CDATA[FEMA]]></category>
		<category><![CDATA[account transactions]]></category>
		<category><![CDATA[Bank Guarantee]]></category>
		<category><![CDATA[banks]]></category>
		<category><![CDATA[current account]]></category>
		<category><![CDATA[finance government]]></category>
		<category><![CDATA[foreign exchange management]]></category>
		<category><![CDATA[government of india]]></category>
		<category><![CDATA[management act]]></category>
		<category><![CDATA[ministry of finance]]></category>
		<category><![CDATA[ministry of finance government of india]]></category>
		<category><![CDATA[public sector company]]></category>
		<category><![CDATA[remittance]]></category>
		<category><![CDATA[state governments]]></category>

		<guid isPermaLink="false">http://www.taxguru.in/?p=13376</guid>
		<description><![CDATA[Attention of Authorised Dealer Category-I (AD Category-I) banks is invited to A.P. (DIR Series) Circular No. 15 dated September 8, 2008, in terms of which the limit for advance remittance for all admissible current account transactions for import of services without bank guarantee was raised from USD 100,000 to USD 500,000 or its equivalent.]]></description>
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		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>RBI circular on Collection of Account Payee Cheques &#8211; Prohibition on Crediting Proceeds to Third Party Account</title>
		<link>http://taxguru.in/rbi/rbi-circular-on-collection-of-account-payee-cheques-prohibition-on-crediting-proceeds-to-third-party-account.html</link>
		<comments>http://taxguru.in/rbi/rbi-circular-on-collection-of-account-payee-cheques-prohibition-on-crediting-proceeds-to-third-party-account.html#comments</comments>
		<pubDate>Thu, 10 Sep 2009 00:29:23 +0000</pubDate>
		<dc:creator>admin</dc:creator>
				<category><![CDATA[RBI]]></category>
		<category><![CDATA[banks]]></category>
		<category><![CDATA[central co]]></category>
		<category><![CDATA[cheque]]></category>
		<category><![CDATA[clearing house]]></category>
		<category><![CDATA[co operative]]></category>
		<category><![CDATA[constituents]]></category>
		<category><![CDATA[Credit Societies]]></category>
		<category><![CDATA[member bank]]></category>
		<category><![CDATA[prohibition]]></category>
		<category><![CDATA[sponsor member]]></category>
		<category><![CDATA[third party cheques]]></category>
		<category><![CDATA[undertaking]]></category>

		<guid isPermaLink="false">http://www.taxguru.in/?p=12429</guid>
		<description><![CDATA[RBI/2009-10/ 148 &#8212;RPCD.CO.RF.BC. No.18 /07.38.03/2009- 10 Dated: September  7, 2009 All State Co-operative Banks (StCBs) and District Central Co-operative Banks (DCCBs) Dear Sir, Collection of Account Payee Cheques &#8211; Prohibition on Crediting Proceeds to Third Party Account Please refer to our circular RPCD.CO.RF.BC. No.78/07. 38.03/2005- 06 dated April 27, 2006 in terms of which banks are prohibited from [...]]]></description>
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		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>RBI circular on Section 6 of the Banking Regulation Act, 1949 as Applicable to Co-operative Societies</title>
		<link>http://taxguru.in/rbi/rbi-circular-on-section-6-of-the-banking-regulation-act-1949-as-applicable-to-co-operative-societies.html</link>
		<comments>http://taxguru.in/rbi/rbi-circular-on-section-6-of-the-banking-regulation-act-1949-as-applicable-to-co-operative-societies.html#comments</comments>
		<pubDate>Mon, 07 Sep 2009 01:17:45 +0000</pubDate>
		<dc:creator>admin</dc:creator>
				<category><![CDATA[RBI]]></category>
		<category><![CDATA[assets]]></category>
		<category><![CDATA[banking regulation]]></category>
		<category><![CDATA[banks]]></category>
		<category><![CDATA[co operative]]></category>
		<category><![CDATA[compliance]]></category>
		<category><![CDATA[regulation act]]></category>
		<category><![CDATA[section 6]]></category>
		<category><![CDATA[ucbs]]></category>
		<category><![CDATA[urban co]]></category>

		<guid isPermaLink="false">http://www.taxguru.in/?p=12206</guid>
		<description><![CDATA[???? RBI/2009-10/138 UBD.CO.BSD. (SCB). No.5/12.09.009/2009-10 August 31, 2009 The Chief Executive Officer All Primary (Urban) Co-operative Banks Dear Sir, Section 6 of the Banking Regulation Act, 1949 (As Applicable to Co-operative Societies) – Forms of Business in which banking companies may engage A reference is invited to Section 6 (1)(f) of the Banking Regulation Act [...]]]></description>
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		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>RBI ask banks to clear local cheques within a day and of outstation cheques within 14 days</title>
		<link>http://taxguru.in/finance/rbi-ask-banks-to-clear-local-cheques-within-a-day-and-of-outstation-cheques-within-14-days.html</link>
		<comments>http://taxguru.in/finance/rbi-ask-banks-to-clear-local-cheques-within-a-day-and-of-outstation-cheques-within-14-days.html#comments</comments>
		<pubDate>Thu, 04 Jun 2009 16:35:11 +0000</pubDate>
		<dc:creator>admin</dc:creator>
				<category><![CDATA[Finance]]></category>
		<category><![CDATA[Bank]]></category>
		<category><![CDATA[bank accounts]]></category>
		<category><![CDATA[bank of india]]></category>
		<category><![CDATA[banks]]></category>
		<category><![CDATA[cheques]]></category>
		<category><![CDATA[consumer disputes]]></category>
		<category><![CDATA[consumer protection act]]></category>
		<category><![CDATA[drawee bank]]></category>
		<category><![CDATA[fixed deposits]]></category>
		<category><![CDATA[national consumer disputes redressal commission]]></category>
		<category><![CDATA[penal interest]]></category>
		<category><![CDATA[reserve bank of india]]></category>

		<guid isPermaLink="false">http://www.taxguru.in/?p=8925</guid>
		<description><![CDATA[Banks were told by the Reserve Bank of India  on Tuesday to ensure clearance of all local cheques within a day and of outstation cheques within 14 days. Compliance is to be reported within a month. Each bank branch is to display the cheque collection policy prominently on the banks&#8217; website. Failure to adhere to the [...]]]></description>
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		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>ICAI asked banks to hire qualified auditors instead of chartered accountants who render ‘compilation engagement’ services</title>
		<link>http://taxguru.in/chartered-accountant/icai-asked-banks-to-hire-qualified-auditors-instead-of-chartered-accountants-who-render-%e2%80%98compilation-engagement%e2%80%99-services.html</link>
		<comments>http://taxguru.in/chartered-accountant/icai-asked-banks-to-hire-qualified-auditors-instead-of-chartered-accountants-who-render-%e2%80%98compilation-engagement%e2%80%99-services.html#comments</comments>
		<pubDate>Tue, 26 May 2009 15:30:54 +0000</pubDate>
		<dc:creator>admin</dc:creator>
				<category><![CDATA[CA CS ICWA]]></category>
		<category><![CDATA[Audit]]></category>
		<category><![CDATA[audit engagement]]></category>
		<category><![CDATA[auditing]]></category>
		<category><![CDATA[Auditing Standards]]></category>
		<category><![CDATA[banks]]></category>
		<category><![CDATA[chartered accountants of india]]></category>
		<category><![CDATA[collections]]></category>
		<category><![CDATA[constitution]]></category>
		<category><![CDATA[credit management]]></category>
		<category><![CDATA[engagement services]]></category>
		<category><![CDATA[financial statements]]></category>
		<category><![CDATA[ICAI]]></category>
		<category><![CDATA[institute of chartered accountants]]></category>
		<category><![CDATA[institutions]]></category>
		<category><![CDATA[internal control systems]]></category>
		<category><![CDATA[management accountability]]></category>
		<category><![CDATA[public sector banks]]></category>

		<guid isPermaLink="false">http://www.taxguru.in/?p=8618</guid>
		<description><![CDATA[Accounting regulator, Institute of Chartered Accountants of India (ICAI) has asked the private and public-sector banks to hire the services of qualified auditors instead of chartered accountants who render ‘compilation engagement’ services.  In a compilation engagement, a chartered accountant uses his accounting expertise as opposed to the auditing expertise to collect, classify and summarize financial [...]]]></description>
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		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Interest income from banks on fixed deposits not necessarily Income from Other Sources</title>
		<link>http://taxguru.in/income-tax-case-laws/interest-income-from-banks-on-fixed-deposits-not-necessarily-income-from-other-sources.html</link>
		<comments>http://taxguru.in/income-tax-case-laws/interest-income-from-banks-on-fixed-deposits-not-necessarily-income-from-other-sources.html#comments</comments>
		<pubDate>Sat, 16 May 2009 14:56:37 +0000</pubDate>
		<dc:creator>admin</dc:creator>
				<category><![CDATA[Income Tax Case Laws]]></category>
		<category><![CDATA[Assessment]]></category>
		<category><![CDATA[banks]]></category>
		<category><![CDATA[bench]]></category>
		<category><![CDATA[borrowers]]></category>
		<category><![CDATA[business income]]></category>
		<category><![CDATA[business profit]]></category>
		<category><![CDATA[capital receipt]]></category>
		<category><![CDATA[case law]]></category>
		<category><![CDATA[customs]]></category>
		<category><![CDATA[Deduction]]></category>
		<category><![CDATA[derivatives]]></category>
		<category><![CDATA[Interest]]></category>
		<category><![CDATA[Interest Income]]></category>
		<category><![CDATA[investments]]></category>
		<category><![CDATA[judgments]]></category>
		<category><![CDATA[mumbai]]></category>
		<category><![CDATA[profession]]></category>
		<category><![CDATA[profits]]></category>
		<category><![CDATA[taxation]]></category>
		<category><![CDATA[term deposits]]></category>

		<guid isPermaLink="false">http://www.taxguru.in/?p=8271</guid>
		<description><![CDATA[SUMMARY OF CASE LAW Normally, on the placing of funds in banks on short-term or long-term deposits, the interest income derived from those sources would be &#8220;income from other sources&#8221;; but it is not so easy to decide that interest income is always assessable under the head &#8220;income from other sources&#8221;; each case has got [...]]]></description>
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		<slash:comments>1</slash:comments>
		</item>
		<item>
		<title>926 bank branches in Mumbai been appointed by RBI to accept Direct Tax Payment</title>
		<link>http://taxguru.in/income-tax/926-bank-branches-in-mumbai-been-appointed-by-rbi-to-accept-direct-tax-payment.html</link>
		<comments>http://taxguru.in/income-tax/926-bank-branches-in-mumbai-been-appointed-by-rbi-to-accept-direct-tax-payment.html#comments</comments>
		<pubDate>Fri, 15 May 2009 15:10:46 +0000</pubDate>
		<dc:creator>admin</dc:creator>
				<category><![CDATA[Income Tax]]></category>
		<category><![CDATA[appointment]]></category>
		<category><![CDATA[Assessment]]></category>
		<category><![CDATA[axis bank]]></category>
		<category><![CDATA[Bank]]></category>
		<category><![CDATA[banks]]></category>
		<category><![CDATA[central]]></category>
		<category><![CDATA[convenience]]></category>
		<category><![CDATA[hdfc]]></category>
		<category><![CDATA[hdfc bank]]></category>
		<category><![CDATA[icici bank branches]]></category>
		<category><![CDATA[income]]></category>
		<category><![CDATA[mumbai]]></category>
		<category><![CDATA[navi mumbai]]></category>
		<category><![CDATA[public sector bank]]></category>
		<category><![CDATA[public sector banks]]></category>
		<category><![CDATA[reserve]]></category>
		<category><![CDATA[tax]]></category>

		<guid isPermaLink="false">http://www.taxguru.in/?p=8157</guid>
		<description><![CDATA[The Reserve Bank on Thursday said 926 branches of private and public sector banks have been designated for receiving advance income tax in Mumbai and Navi Mumbai.  &#8220;Arrangements have been made for the convenience of the income tax assesses. Of the 926 bank branches, 862 are public sector bank bank branches, 35 HDFC bank branches, [...]]]></description>
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		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>RBI asked banks to review their existing policies for lending to MSEs</title>
		<link>http://taxguru.in/rbi/rbi-asked-banks-to-review-their-existing-policies-for-lending-to-mses.html</link>
		<comments>http://taxguru.in/rbi/rbi-asked-banks-to-review-their-existing-policies-for-lending-to-mses.html#comments</comments>
		<pubDate>Fri, 08 May 2009 16:34:15 +0000</pubDate>
		<dc:creator>admin</dc:creator>
				<category><![CDATA[RBI]]></category>
		<category><![CDATA[banks]]></category>
		<category><![CDATA[debt restructuring]]></category>
		<category><![CDATA[economic downturn]]></category>
		<category><![CDATA[economic slowdown]]></category>
		<category><![CDATA[Micro]]></category>
		<category><![CDATA[non performing assets]]></category>
		<category><![CDATA[reserve bank of india]]></category>
		<category><![CDATA[restructuring]]></category>
		<category><![CDATA[restructurings]]></category>
		<category><![CDATA[sick units]]></category>

		<guid isPermaLink="false">http://www.taxguru.in/?p=7887</guid>
		<description><![CDATA[The Reserve Bank of India (RBI) has asked banks to review their existing policies for lending to micro and small enterprises (MSEs) and frame norms for restructuring sick units that are potentially viable. RBI also said that banks should frame policies on extension of credit facilities and non-discretionary One-Time Settlement (OTS) schemes for recovery of non-performing [...]]]></description>
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		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Savings Bonds-Extending the Collateral Facility</title>
		<link>http://taxguru.in/finance/savings-bonds-extending-the-collateral-facility.html</link>
		<comments>http://taxguru.in/finance/savings-bonds-extending-the-collateral-facility.html#comments</comments>
		<pubDate>Sun, 24 Aug 2008 06:47:00 +0000</pubDate>
		<dc:creator>admin</dc:creator>
				<category><![CDATA[Finance]]></category>
		<category><![CDATA[amendments]]></category>
		<category><![CDATA[Bank]]></category>
		<category><![CDATA[banks]]></category>
		<category><![CDATA[collateral]]></category>
		<category><![CDATA[government securities]]></category>
		<category><![CDATA[hypothecation]]></category>
		<category><![CDATA[india]]></category>
		<category><![CDATA[ministry of finance]]></category>
		<category><![CDATA[ministry of finance government of india]]></category>
		<category><![CDATA[pledge]]></category>
		<category><![CDATA[Savings Bonds]]></category>
		<category><![CDATA[securities regulations]]></category>
		<category><![CDATA[taxable bonds]]></category>

		<guid isPermaLink="false">http://kanoisandeep.wordpress.com/2008/08/24/savings-bonds-extending-the-collateral-facility/</guid>
		<description><![CDATA[Government of India have amended the notifications relating to 7% Savings Bonds, 2002, 6.5% Savings (Non-Taxable) Bonds, 2003, and 8% Savings (Taxable) Bonds, 2003 Schemes, to allow for pledge/lien/ hypothecation of the said Bonds as collateral for obtaining loans from Scheduled Banks. Accordingly, the holders of the said Bonds will be entitled to create pledge or hypothecation or lien in favour of scheduled banks in accordance with section 28 of the Government Securities Act, 2006 and regulations 21 and 22 of the Government Securities Regulations, 2007. ]]></description>
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		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Block Assessment without Satisfaction Is Void</title>
		<link>http://taxguru.in/income-tax-case-laws/block-assessment-without-satisfaction-is-void-5-member-special-bench-itat.html</link>
		<comments>http://taxguru.in/income-tax-case-laws/block-assessment-without-satisfaction-is-void-5-member-special-bench-itat.html#comments</comments>
		<pubDate>Sun, 10 Aug 2008 08:10:00 +0000</pubDate>
		<dc:creator>admin</dc:creator>
				<category><![CDATA[Income Tax Case Laws]]></category>
		<category><![CDATA[Assessment]]></category>
		<category><![CDATA[assets]]></category>
		<category><![CDATA[banks]]></category>
		<category><![CDATA[bench]]></category>
		<category><![CDATA[BLOCK ASSESSMENT]]></category>
		<category><![CDATA[genuineness]]></category>
		<category><![CDATA[income]]></category>
		<category><![CDATA[initiative]]></category>
		<category><![CDATA[Interest]]></category>
		<category><![CDATA[jurisdiction]]></category>
		<category><![CDATA[proceeding]]></category>
		<category><![CDATA[proceedings]]></category>
		<category><![CDATA[satisfaction]]></category>
		<category><![CDATA[Undisclosed]]></category>

		<guid isPermaLink="false">http://kanoisandeep.wordpress.com/2008/08/10/block-assessment-without-satisfaction-is-void-5-member-special-bench-itat/</guid>
		<description><![CDATA[Manoj Aggarwal vs. DCIT - (1) Even in the case of an assessee not maintaining books of account and to whom s. 68 does not apply, addition in respect of unexplained entries in the bank book can be made; (2) Where the assessee was not provided copies of the seized documents and the delay in filing the block return was on that count, interest u/s 158BFA (1) is not leviable even though there is no exemption on that count in the statute.;]]></description>
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		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Assessment of Banks &#8211; Allowance of deduction to rural branches</title>
		<link>http://taxguru.in/income-tax/assessment-of-banks-allowance-of-deduction-to-rural-branches.html</link>
		<comments>http://taxguru.in/income-tax/assessment-of-banks-allowance-of-deduction-to-rural-branches.html#comments</comments>
		<pubDate>Thu, 07 Aug 2008 11:51:00 +0000</pubDate>
		<dc:creator>admin</dc:creator>
				<category><![CDATA[Income Tax]]></category>
		<category><![CDATA[agricultural credit]]></category>
		<category><![CDATA[assessing officers]]></category>
		<category><![CDATA[Assessment]]></category>
		<category><![CDATA[Assessment of Banks]]></category>
		<category><![CDATA[bad debt]]></category>
		<category><![CDATA[banks]]></category>
		<category><![CDATA[Computer]]></category>
		<category><![CDATA[Deduction]]></category>
		<category><![CDATA[gain]]></category>
		<category><![CDATA[Income Tax Notifications]]></category>
		<category><![CDATA[incorporation]]></category>
		<category><![CDATA[previous year]]></category>
		<category><![CDATA[profession]]></category>
		<category><![CDATA[profits]]></category>
		<category><![CDATA[provisions]]></category>
		<category><![CDATA[Results]]></category>
		<category><![CDATA[rural bank]]></category>

		<guid isPermaLink="false">http://kanoisandeep.wordpress.com/2008/08/07/assessment-of-banks-allowance-of-deduction-to-rural-branches/</guid>
		<description><![CDATA[While computing the income under the head 'Profit and Gains of Business &#038; Profession' a scheduled bank (not being a bank incorporated by or under the laws of a foreign country) or a non-scheduled bank or a cooperate bank other than a primary agricultural credit society or a primary co-operative agricultural and rural bank is entitled to claim deduction of provision for bad debt of an amount not exceeding ten per-cent of the aggregate average advances made by the rural branches of such bank computed in the prescribed manner. ]]></description>
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		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Norms relaxed for scrutiny of company tax returns</title>
		<link>http://taxguru.in/income-tax/norms-relaxed-for-scrutiny-of-company-tax-returns.html</link>
		<comments>http://taxguru.in/income-tax/norms-relaxed-for-scrutiny-of-company-tax-returns.html#comments</comments>
		<pubDate>Sat, 02 Aug 2008 10:01:00 +0000</pubDate>
		<dc:creator>admin</dc:creator>
				<category><![CDATA[Income Tax]]></category>
		<category><![CDATA[accountability]]></category>
		<category><![CDATA[Assessment]]></category>
		<category><![CDATA[banks]]></category>
		<category><![CDATA[bombay stock exchange]]></category>
		<category><![CDATA[cash reserves]]></category>
		<category><![CDATA[CBDT]]></category>
		<category><![CDATA[corporates]]></category>
		<category><![CDATA[department]]></category>
		<category><![CDATA[evasion]]></category>
		<category><![CDATA[exchange companies]]></category>
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		<guid isPermaLink="false">http://kanoisandeep.wordpress.com/2008/08/02/norms-relaxed-for-scrutiny-of-company-tax-returns/</guid>
		<description><![CDATA[In what could be a major relief to the corporate sector, the Central Board of Direct Taxes (CBDT) has decided not to scrutinize tax returns of more than 1,000 top companies provided no serious disputes are pending against them. The annual returns of tax complying companies would not be scrutinized this year. The decision has been taken by the CBDT to encourage better tax compliance among the corporate,” a senior finance ministry official, who did not wish to be identified, said.]]></description>
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