"21 April 2016" Archive

Anti-dumping duty on Barium Carbonate

Notification No. 14/2016-Customs (ADD) (21/04/2016)

R eview in the matter of continuation of anti-dumping duty on imports of Barium Carbonate (hereinafter referred to as the subject goods) falling under tariff item 2836 60 00 of the First Schedule to the Customs Tariff Act, 1975 (51 of 1975) (hereinafter referred to as the Customs Tariff Act), originating in or exported from People’s Re...

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Draft Revised Scheme of Education &Training of CA Course

No.1-CA(7)/178/2016 (21/04/2016)

The Central Government has accorded its in-principle approval to the draft amendments in the Chartered Accountants Regulations, 1988 arising out of the Revised Scheme of Education and Training approved by the Council of the Institute. ...

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Rate of exchange of foreign currency conversion WEF 22.04.2016

Notification No. 55/2016-Customs (N.T.) (21/04/2016)

Central Board of Excise and Customs hereby determines that the rate of exchange of conversion of each of the foreign currencies specified in column (2) of each of Schedule I and Schedule II annexed hereto, into Indian currency or vice versa, shall, with effect from 22nd April, 2016, be the rate mentioned against it in the corresponding en...

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Amended Track & Trace system for Pharmaceuticals & Drug export

Public Notice No. 03/2015-2020-DGFT (21/04/2016)

In case, the Government of the importing country has mandated a specific requirement, the exporter has the option of adhering to the same and in such a case, it would not be necessary to comply with the stipulation under sub para (i) to (iv) of Para 2 of this Public Notice and if an exporter is seeking to avail such exemption from bar cod...

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Banks to caution public against deposits in dubious schemes

RBI/2015-16/378 DBR.No.Leg.BC.93/09.07.005/2015-16 (21/04/2016)

It has also come to the notice of the RBI that the customers receive telephone calls relating to their winning lotteries/prizes etc. and depositing money in an unknown account, following which the amount of lottery would be remitted to them or credited to the account they would advise. The customers believing such fraudulent messages remi...

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Guidelines on Investment Advisory Services offered by Banks

RBI/2015-16/379 DBR.No.FSD.BC.94/24.01.026/2015-16 (21/04/2016)

IAS is defined and regulated by SEBI under the SEBI (Investment Advisors) Regulations, 2013, and entities offering these activities need to be registered with SEBI. In view of the same it is advised that henceforth, banks cannot undertake IAS departmentally. Accordingly, banks desirous of offering these services may do so either through a...

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Foreign Investment in units issued by REITs, InvITs, & AIFs

RBI/2015-16/377 A.P. (DIR Series) Circular No. 63 (21/04/2016)

With a view to rationalising foreign investment regime for Alternative Investment vehicles and to facilitating foreign investment in collective investment vehicles for real estate and infrastructure sectors, it has been decided, in consultation with the Government of India, to allow foreign investment in the units of Investment Vehicles r...

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India’s Potential Output Revisited

In India, the debate on ‘potential growth and output gap’ has been intensified due to revision in the GDP estimates with change in base year and its underlying methodology. This paper provides the estimates of potential growth and output gap, for the first time in India, on a quarterly basis using production function approach in addit...

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Posted Under: Custom Duty |

Revised methodology for computation of RBI Reference Rate

Press Release : 2015-2016/2470 (21/04/2016)

The Reserve Bank of India (RBI) compiles and publishes on a daily basis the Reference Rate for Spot USD/INR. Under the existing methodology, the rate is arrived at through a polling process involving rates obtained from select banks....

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Master Direction 2016 on Amalgamation of Private Sector Banks

RBI/DBR/2015-16/22 Master Direction DBR.PSBD.No. 96/16.13.100/2015-16 (21/04/2016)

The Reserve Bank of India today issued the Master Directions on Issue and Pricing of shares by Private Sector Banks. The Master Directions issued today consolidates all relevant instructions issued by the Reserve Bank of India (RBI) so far on the subject and will be applicable to all private sector banks licensed to operate in India by th...

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