"27 December 2011" Archive - Page 4

Insurance Companies offering insurance for Losses from Marriage postponement

Insurance companies have come out with an innovative proposition, wherein they would insure the weddings against their postponement of cancellations for certain reasons. The catch is that the insurer will not pay for marriages turning sour due to personal differences between the bride and the groom, and the claims would be entertained onl...

Posted Under: Finance | ,

Notification No. 62/2011 – Income Tax Dated 27/12/2011

Notification No. 62/2011 - Income Tax 27/12/2011

Notification No. 62/2011 - Income Tax S.O. 2903 (E).—Whereas a Protocol amending the Agreement between the Republic of India and the Swiss, Confederation for the avoidance of double taxation with respect to taxes on income with Protocol, signed at New Delhi on the 2nd day of November, 1994, as amended by the supplementary Protocol signe...

General Election to Legislative Assembly of Goa, Manipur, Punjab, Uttarakhand and Uttar Pradesh 2012- Appointment of Observer

The Election Commission of India has appointed the IRS Officers given in the enclosed list as its Expenditure Observer for the General Elections to legislative Assembly of States mentioned above. A briefing meeting of Expenditure Observer has been fixed at 12.30 PM on 2nd January, 2012 in Vigyan Bhawan New Delhi. The detailed instructions...

Posted Under: Finance |

‘Volatility in Indian Rupee a temporary phenomena’

Leading Indian Bankers say, the recent volatility in Indian Rupee is a temporary phenomena and the currency will stabilize soon. They said there is no need to press the panic button. Addressing a Panel discussion in Dubai, the CEOs of Bank of Baroda from GCC region, Punjab National Bank, Corporation Bank and the State Bank of India in Dub...

Posted Under: Finance |

Postings and transfers of officers to the grade of Chief Commissioners/Director Generals of Income Tax – CBDT Order No. 203 of 2011

ORDER NO. 203 of 2011 27/12/2011

ORDER NO. 203 OF 2011 The following postings and transfers of officers in the grade of Chief Commissioners/Director Generals of Income Tax are hereby ordered w.c.f. 01.01.2012 and until further orders:...

Promotion to the grade of Chief Commissioner of income Tax (CCIT) – CBDT ORDER NO. 202 OF 2011

ORDER NO. 202 OF 2011 27/12/2011

ORDER NO. 202 OF 2011 The following officers in the grade of Commissioner/Director of Income Tax are hereby promoted to the grade of Chief Commissioner of income Tax (CCIT) in the Pay Scale of Rs. 67,000-79,000/- with effect from 01.01.2012 and actually from the date of assumption of charge of the post and until further orders:...

Standardisation and Enhancement of Security Features in Cheque Forms-Implementation of CTS 2010 standard

RBI/2011-12/320 DPSS.CO.CHD.No. 1112/04.07.05/2011-12 27/12/2011

A reference is invited to our circular No.DPSS.CO.CHD.No. 1832 / 04.07.05 / 2009-10 February 22, 2010 prescribing the new cheque standards "CTS-2010” and advising banks to be in readiness for rolling out the new standards at an early date. Further, Indian Banks Association (IBA) and National Payment Corporation of India (NPCI) were vest...

Capital Requirement for banks’ investments in financial entities exempted from Capital Market Exposure

RBI/2011-12/321 DBOD.No.BP.BC. 69 /21.06.001/2011-12 27/12/2011

Please refer to paragraph 5.13.4 of our Master Circular No. DBOD.No.BP.BC.11/ 21.06.001/2010-11 dated July 1, 2011 on Prudential Guidelines on Capital Adequacy and Market Discipline - New Capital Adequacy Framework (NCAF), as per which capital market exposure will attract a 125 percent risk weight or risk weight warranted by external rati...

Banks’ Exposure to Capital Market – Issue of Irrevocable Payment Commitments (IPCs) – Circular No. DBOD.Dir.BC. 68 /13.03.00/2011-12

Circular No. DNBS.CC.PD.No.252/03.10.01/2011-12 27/12/2011

Only those custodian banks, who have a clause in the Agreement with their clients which gives them an inalienable right over the securities to be received as pay out in any settlement, would be permitted to issue IPCs. However, in cases where transactions are pre-funded i.e. there are clear INR funds in the customer’s account and, in ca...

IRDA – Dismantling of existing Indian Motor Third Party Pool

Order No. IRDA/NL/ORD/MPL/276/12/2011 23/12/2011

In exercise of the powers vested under Section 14(2) of the IRDA Act, 1999, the Authority issues the following order reforming the Indian Motor Third Party Pool System. The Authority hereby orders the dismantling of the existing Indian Motor Third Party Pool with effect from 31.3.2012....

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