As you are aware, the Reserve Bank has on several occasions in the past, through public awareness campaigns, suitably cautioned the members of public not to fall pray to fictitious offers / lottery winnings/ offers of remittance of cheap funds in foreign currency from abroad by certain foreign entities/ individuals, including Indian residents acting as the representatives of such entities/ individuals.
In view of the developments in the Microfinance sector, particularly in Andhra Pradesh, the Reserve Bank of India (RBI) had in October, 2010 constituted a Sub-Committee under Shri Y.H. Malegam, Member of the Central Board of Directors of RBI, to study issues and concerns of the Micro Finance Sector including interest rates charged by the lenders in this area. The Malegam Committee in its Report has inter alia recommended the following.
Let me now conclude. I have highlighted ten challenges that we need to address in order to accelerate output growth with focus on the quality of growth. I must admit that this list is by no means exhaustive, and individual lists can vary both in content and emphasis. I hope my list would, at the least, serve as a reference point for thinking through.
Notification No. 104 /2011-Customs Whereas in the matter of imports of Hot Rolled Flat Products of Stainless Steel of ASTM Grade 304 with all its variants,(hereinafter referred to as the subject goods), classified under Chapter 72 of the First Schedule to the Customs Tariff Act, 1975 (51 of 1975), originating in, or exported from, European Union, Korea RP, South Africa, Taiwan and USA (hereinafter referred as the subject countries) and imported into India, the designated authority in its final findings vide notification No. 14/12/2010-DGAD, dated the 11th October, 2011, published in the Gazette of India, Extraordinary, Part I, Section 1, the dated 11th October , 2011, had come to the conclusion that –
Each bank will have to offer a uniform interest rate on savings bank deposits up to Rs. 1 lakh, irrespective of the amount in the account within this limit. Second, for savings bank deposits over ` 1 lakh, a bank may provide differential rates of interest, if it so chooses, subject to the condition that banks will not discriminate in the matter of interest paid on such deposits, between one deposit and another of similar amount, accepted on the same date, at any of its offices.
Notification No. 81/2011 Cus.(NT) dated 25.11.2011: Central Board of Excise and Customs has issued new Customs (Provisional Duty Assessment) Regulations, 2011. The new regulations provide that duty can be provisionally assessed by the proper officer if an importer/exporter is unable to make self-assessment under section 17(1) of the Customs Act, 1962 or if the proper officer is not able to verify the self-assessment or make re-assessment of the duty on the imported/export goods.
Notification No. 80/2011 – Customs (N.T.) – (1) These regulations may be called the Shipping Bill (Electronic Declaration) Regulations, 2011.(2) They shall apply to export of goods from all customs stations where the Indian Customs Electronic Data Interchange System is in operation. (3) They shall come into force on the date of their publication in the Official Gazette.
We forward herewith 5 copies of Government of India Notification G.S.R. 770 (E) dated October 19, 2011, on the captioned subject, the contents of which are self-explicit. In this regard, we advise that the contents of the Notification may be brought to the notice of the branches of your bank operating the SCSS, 2004 and may also be displayed on the notice boards of your branches for the information of the SCSS, 2004 subscribers.
Notification No. 79/2011 – Customs (N.T.) These regulations may be called the Bill of Entry (Electronic Declaration) Regulations, 2011. (2) They shall apply to the import of goods through all customs stations where the Indian Customs Electronic Data Interchange System is in operation. (3) They shall come into force on the date of their publication in the Official Gazette.
Modernization of the industry was made to increase the productivity. Productivity not only of the quantity being produced but quality of product & labor force. But the prime reason for modernization and introduction of technology was to improve the quality of human labor has just turned opposite for the intended purpose. Standing in front of 2012 and starring back to the world it can be well seen that neither the problems of production was solved neither human labor quality has improved. Quality of products has improved by wide height backed by extensive use of upgraded technology applied and improved day after day. But the intended purpose for the application of technology for human labor improvement has ditoriated.
