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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.
The Finance Minister, Mr Pranab Mukherjee, on Friday hinted at some slippage to the scheduled Goods and Services Tax (GST) system rollout by April 1, 2010. Introduction of the GST, billed as a flagship tax reform measure of the UPA Government, is considered crucial for attracting increased doses of domestic and foreign investments.
