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Archive: 09 November 2010

Posts in 09 November 2010

Live Course on Appeal, Pleading & Drafting under GST by CA Sachin Jain

May 15, 2024 6435 Views 0 comment Print

oin us for an immersive live course led by renowned expert CA Sachin Jain, as we delve into the intricacies of appeal, pleading, and drafting under GST.

Electronic Funds Transfer Infrastructure in India – Usage of RTGS and NEFT

November 9, 2010 558 Views 0 comment Print

Based on requests received from the participant member banks, it is clarified that the revised customer charges for the transactions routed through RTGS are applicable for amounts starting from ` 2 lakhs and above.

Ready Forward Contracts in Corporate Debt Securities

November 9, 2010 385 Views 0 comment Print

In exercise of the powers conferred by Section 45 W of the Reserve Bank of India Act, 1934 and in partial modification of the notification No IDMD.DOD. 04/11.08.38/2009-10 dated January 8, 2010, the Reserve Bank hereby makes the following amendments in the Repo in Corporate Debt Securities (Reserve Bank) Directions, 2010 dated 8th January 2010 (hereinafter referred to as the said Directions) namely.

Shortfall in Maintenance of SLR – Additional Liquidity support under LAF

November 9, 2010 442 Views 0 comment Print

As stated in the Reserve Bank’s press release issued on November 09, 2010, in line with the stance of monetary policy set out in the Second Quarter Review of November 2, 2010 and in order to provide liquidity comfort arising out of frictional liquidity pressure, it has been decided that scheduled commercial banks may avail of additional liquidity support under the Liquidity Adjustment Facility (LAF) to the extent of up to 1.0 per cent of their Net Demand and Time Liabilities (NDTL) as on the reporting Friday of the second preceding fortnight. For any shortfall in maintenance of Statutory Liquidity Ratio (SLR) during November 9 – December 16, 2010.

Facilitating transactions in Mutual Fund schemes through the Stock Exchange infrastructure

November 9, 2010 285 Views 0 comment Print

This circular is issued in exercise of powers conferred under Section 11 (1) of the Securities and Exchange Board of India Act, 1992, read with the provisions of Regulation 77 of SEBI (Mutual Funds) Regulations, 1996, to protect the interests of investors in securities and to promote the development of, and to regulate the securities market.

CA coaching set to go online

November 9, 2010 261 Views 0 comment Print

THE Chartered Accountancy course, supposed to be one of the toughest, has a pass percentage of 5-10 per cent. In an attempt to increase it to 20 per cent, efforts are on start satellite-based education across the country, including the tier-II cities

RBI see no case for levy of pre-payment penalty

November 9, 2010 312 Views 0 comment Print

Banks are losing their battle for penalty on home loan pre-payments as the Reserve Bank of India sees no case for such a levy given that lenders don’t play a fair game with borrowers. In a meeting with chief executives of banks last week, RBI deputy

‘EPFO cannot claim damages for delayed payment’

November 9, 2010 1680 Views 0 comment Print

The Madras High Court bench here has ruled that the Employees Provident Fund Organisation (EPFO) cannot claim damages from employers for delayed payment of their contribution “if there is no intention to commit a prohibited act or actus reus” (action

Draft guidelines for foreign banks delayed

November 9, 2010 240 Views 0 comment Print

The draft guidelines on how foreign banks can convert themselves into wholly owned subsidiaries of their parents, have been delayed, with the Reserve Bank of India (RBI) awaiting clarity from tax authorities. The guidelines were to be have been relea

Supreme Court rejects plea, Raju to surrender tomorrow

November 9, 2010 420 Views 0 comment Print

The Supreme Court on Tuesday rejected scam-tainted Satyam Computer founder B Ramalinga Raju’splea seeking extension of time beyond November 10 to surrender. He now has to surrender on Wednesday. The SC had earlier cancelled Raju’s bail and directed h

Sebi Wants MFS to Spend Money on Investors, Not Distributors

November 9, 2010 204 Views 0 comment Print

Concerned over large-scale outflow from mutual fund schemes, market regulator Sebi wants fund houses to invest part of their profit on cementing ties with investors and curtail commissions and freebies to agents. Market watchdog Sebi, which also over

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