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Archive: 25 August 2011

Posts in 25 August 2011

Anti-dumping duty on imports of PVC Flex Films import from China

August 25, 2011 1903 Views 0 comment Print

Notification No.82/2011-Customs, New Delhi, dated the 25th August, 2011 Whereas, in the matter of import of PVC Flex Films (hereinafter referred to as the subject goods), falling under Chapter 39 of the First Schedule to the Customs Tariff Act, 1975 (51 of 1975), originating in, or exported from, People’s Republic of China (hereinafter referred to as the subject country), the designated authority in its preliminary findings, vide, notification No. 14/4/2010 -DGAD, dated the 22nd June, 2010,

RBI Committee to re-examine the existing classification and suggest revised guidelines with regard to priority sector lending classification and related issues

August 25, 2011 6489 Views 0 comment Print

The Reserve Bank of India has set up a Committee to re-examine the existing classification and suggest revised guidelines with regard to priority sector lending classification and related issues. Shri M. V. Nair, CMD, Union Bank of India will chair the Committee. Other members of the Committee include, Dr.P.K.Mishra, IAS (Retd.), Former Secretary, Ministry of Agriculture and Co-operation, Government of India Smt. Nupur Mitra, ED, Indian Overseas Bank

RBI releases Annual Report for 2010-11

August 25, 2011 7361 Views 0 comment Print

The Reserve Bank of India today released its Annual Report for 2010-11. This is a statutory Report of the Central Board of the Reserve Bank that covers (i) the assessment of the macroeconomic performance during 2010-11 and the prospects for 2011-12, and (ii) the working and operations of the Reserve Bank and its financial accounts. The highlights of the Report are as follows:

Notification No. G.S. R. 649(E), dated 25/08/2011

August 25, 2011 463 Views 0 comment Print

In exercise of the powers conferred by clauses (e) and (t) of sub-section (2) of Section 38A, read with Section 29C and sub-section (1) of Section 29D of the Company Secretaries Act, 1980 (56 of 1980), the Central Government hereby makes the following amendments in the Company Secretaries Procedures of Meetings of Quality Review Board.

Redressal of investor grievances against stock brokers and sub- brokers in SEBI Complaints Redress System (SCORES)

August 25, 2011 411 Views 0 comment Print

CIRCULAR NO. MIRSD/18/2011, DATED 25-8-2011 1. SEBI has commenced processing of investor grievances in a centralized web-based complaints redressal system, ‘SCORES’. The salient features of this system are: l Centralized database of all complaints; l Online movement of complaints to the concerned entities; l Online upload of Action Taken Reports (ATRs) by the concerned entities; and l Online tracking of status of complaints by investors.

ICAI awards for excellence in financial reporting – Invitation to Participate in the Competition for the year 2010-11

August 25, 2011 7860 Views 0 comment Print

To recognise and encourage excellence in the preparation and presentation of financial information with the mission of greater accountability and well-informed decision making. Procedure for Participation There is no fee for participation in the competition. Annual report relating to the financial year ending on any day between April 1, 2010 and March 31, 2011 (both days inclusive) is eligible for participation in this competition. Decisions of the Panel of Judges in all the matters relating to the Competition will be final. Fill in the Entry Form *and submit with requisite documents on or before September 30, 2011 to:

Insurance – Proposed amendments to IRDA (Investment) Regulations 2008

August 25, 2011 7284 Views 0 comment Print

Date- 25.08.2011 – The Authority after notification of IRDA (Investment) (4th Amendment) Regulations, 2008 and after mandating the minimum requirements in respect of Investment Risk Management Systems & Process and Internal / Concurrent Audit Scope (issued through Technical Guides through the ICAI) took the feedback from the Working Group members on (1) Operational Issues (2) Systems issues (3) Audit related issues.

Banking, electronic payments and road ahead

August 25, 2011 7636 Views 0 comment Print

The stage of payment system development in a country to a large extent depends upon the adoption of technology, introduction of new payment instruments and the confidence of the public in using these payment instruments. In India cash still continues to be the predominant payment mode. This can be gauged from the fact that value of bank notes and coins in circulation as a percentage of narrow money is very high at 60.07% for the year 2009-20102, when compared to other emerging economies like South Africa (18.51%), China(18.83%), Mexico (39.14%). Brazil comes close to India with 52.70% of the value of banknotes and coins in circulation as a percentage of narrow money. This is perhaps a pointer that we have been relatively slow in embracing cashless payment modes and using them as cash substitute. The pre-dominant use of cash could also be attributed to the fact that the process for adoption of non-cash mode of payments started relatively late in the country.

Comments suggestions invited regarding levy of service tax on distributors/sub-distributors of films & exhibitors of movie

August 25, 2011 16655 Views 0 comment Print

These representations have been examined. Subsequent to CBEC Circular No. 109/03/2009 dated 23.02.2009, temporary transfer or permitting the use or enjoyment of, any copyright defined in the Copyright Act, 1957 (14 of 1957), except the rights covered under sub-clause (a) of clause (1) of section 13 of the said Act were made taxable w.e.f. 01.07.2010 under the sub-clause (zzzzt) of Sec 65(105) by the Finance Act of 2010. Also, for the words ‘operational assistance for marketing’, the words ‘operational or administrative assistance in any manner’ were substituted in the clause (104c) of Sec 64 of the Act by the Finance Act, 2011, w.e.f. 01.05.2011.

CS exam Results to be declared on 25th August 2011 (Today) at 11:00 AM

August 25, 2011 14576 Views 0 comment Print

The CS Result shall be declared on 25th August 2011 at 11:00 AM on the official website of ICSI- http://www.icsi.edu/

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