Demonetization - Page 10

Co-operative Banks barred from accepting deposits under PMGK Deposit Scheme

S.O. 204(E) (19/01/2017)

It is clarified that Co-operative Banks are not authorised banks to accept deposits under PMGKDS, 2016. Application for the deposit in the form of Bonds Ledger Account shall be received by any banking company, other than Co-operative Banks, to which the Banking Regulation Act, 1949 (10 of 1949) applies....

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12 FAQs on Tax & Investment- Pradhan Mantri Garib Kalyan Yojana 2016

Circular No. 2/2017-Income Tax (18/01/2017)

Taxation and Investment Regime for Pradhan Mantri Garib Kalyan Yojana, 2016 (hereinafter ‘the Scheme’) provides an opportunity to persons having undisclosed income in the form of cash or deposit in an account maintained with a specified entity ...

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No collaboration with tainted UK based Note Printing Company: Govt

There have been reports in media stating that Union Govt has compromised national interest by collaborating with a tainted UK based Note Printing Company....

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Posted Under: Fema / RBI |

Top Five Areas of Concern after Demonetization in Bank Concurrent Audits

One of the community most affected by demonetization after common men and bankers would be bank auditors. Most of the auditors are dwelling in confusion after so many notifications of government of India and RBI. ...

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Posted Under: Fema / RBI |

Analysis of Pradhan Mantri Garib Kalyan Yojana

Offering one last window to black money holders, the government has come out with a scheme giving black money holders time until March-end to come clean by paying 50 per cent tax on bank deposits of junk currencies made post demonetization....

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Posted Under: Fema / RBI |

New Cash Withdrawal limits- Rs. 10K for ATMs & 100K for Current A/c

RBI/2016-1 7/213 DCM (Plg) No. 2559 /10.27.00/2016-17 (16/01/2017)

Limit on withdrawals from ATMs enhanced to Rs.10,000/- per day per card and on withdrawal from current accounts has been enhanced to Rs.1 ,00,000/- per week....

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Respect autonomy and independence of RBI

Finance Ministry says that it respects autonomy and independence of Reserve Bank of India after a report in sections of Press that some unions have alleged infringement of autonomy of Reserve Bank of India....

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Posted Under: Fema / RBI |

Demonetization reduces Terror Funding, Hawala Trade, Human Trafficking

Demonetization had resulted in sharp decline in terror funding, hawala trade, supari killings and human trafficking, particularly of young girls as sex slaves, mainly from Nepal and North East....

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Posted Under: Fema / RBI |

GST- Most of the issues been resolved: FM

Stressing the implementation of GST, FM says that most of the issues have been resolved; few critical issues are left which will be resolved in next few weeks....

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Posted Under: Fema / RBI |

Summary of Cicular on Pradhan Mantri Garib Kalyan Yojna, 2016

The CBDT vide Circular No.43 of 2016 dated 27.12.2016 issued explanatory notes on provisions of the taxation and investment regime for Pradhan Mantri Garib Kalyan Yojna, 2016 as contained in Chapter IX-A of the Finance Act, 2016. The summary of the same is given below....

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Posted Under: Fema / RBI |
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