Press Releases

Products accorded approval by SEBI for trading in stock exchanges in GIFT City IFSC

Press Releases No.: 50/2017 (03/08/2017)

Gujarat International Finance Tec-City International Financial Service Centre (GIFT City IFSC) has been set up with an objective to, inter alia, enable Indian entities to compete on an equal footing with offshore financial centres and to provide facilities and regulations comparable to other leading international financial centres in the ...

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Cheer from RBI! Repo rate cut by 25 basis points to 6%

Press Release: 2017-2018/326 and 2017-2018/325 (02/07/2017)

On the basis of an assessment of the current and evolving macroeconomic situation at its meeting today, the Monetary Policy Committee (MPC) decided to reduce the policy repo rate under the liquidity adjustment facility (LAF) by 25 basis points from 6.25 per cent to 6.0 per cent with immediate effect....

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SEBI constitutes Committee on Fair Market Conduct

Press Ralease No. 50/2017-SEBI (01/08/2017)

A fair and efficient securities market stands on investor confidence. The same can be instilled by keeping the market free from manipulative practices. Regulatory intervention in this regard has been made in the areas of market manipulation and insider trading in the form of Regulations such as SEBI( Prohibition of Insider Trading) Regula...

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RBI imposes penalty of Rs. 30 million on UBI for KYC norm violations

Press Release : 2017-2018/294 and Press Release : 2017-2018/295 (31/07/2017)

eserve Bank of India (RBI) has imposed, on July 26, 2017, a monetary penalty of ₹ 10 million and ₹ 20 million on Union Bank of India for non-compliance with the directions issued by RBI on Know Your Customer (KYC) norms....

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Benefits of GST for the Transport Sector

The transport sector stands to benefit from the recently rolled out GST in several ways. Pre- GST, the complex tax structure and paper work forced the transport industry to spend a lot of resources on tax compliance and deposit of interstate sales tax....

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Issues on implementation of MAT provisions for Ind AS companies

NA (25/07/2017)

CBDT press release on Issues arising from the implementation of Minimum Alternate Tax (MAT) provisions relating to Indian Accounting Standards (Ind AS) compliant companies....

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SEBI to initiate action against non -compliant companies which are exclusively listed on Dissemination Board

Press Release No.- 41/2017-SEBI (07/07/2017)

SEBI vide circular dated October 10, 2016 provided three months to ELCs on DB to submit a plan of action to the designated stock exchanges (“DSEs”) either to list or to provide exit to its shareholders. Further it was also stipulated that failure to comply with the above would attract actions as enumerated below...

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Draft Notification on foreign company resident in India U/s. 115JH

F No 370142/19/2017-TPL (15/06/2017)

CBDT invites comments and suggestions on the Draft Notification in respect of foreign company said to be resident in India under Section 115JH of the Income-tax Act, 1961...

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Cabinet clears Bill to deal with crisis in banks, insurers

Press Release No. PIB Release/DL/981 (14/06/2017)

The Financial Resolution and Deposit Insurance, Bill 2017 when enacted, will pave the way for setting up of the Resolution Corporation. It would lead to repeal or amendment of resolution-related provisions in sectoral Acts as listed in Schedules of the Bill....

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SEBI on Formation of Committee on Corporate Governance

PR No.: 30/2017 (02/06/2017)

The Committee shall make recommendations to SEBI on the following issues with the aim of improving standards of corporate governance of listed companies in India: 1. Ensuring independence in spirit of Independent Directors and their active participation in functioning of the company;...

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