"22 November 2016" Archive

Demonetisation- Special measures to incentivise e-Payments

RBI/2016-17/150 DPSS.CO.PD.No.1288/02.14.006/2016-17 (22/11/2016)

Measures to incentivise Electronic Payments – (i) Enhancement in issuance limits for Pre-Paid Payment Instruments(ii) Special measures for merchants...

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Relaxation in conditions of cash withdrawal for wedding Celebration

RBI/2016-17/149 DCM (Plg) No.1346/10.27.00/2016-17 (22/11/2016)

#Demonetisation- Wedding Celebrations- A detailed list of persons to whom the cash withdrawn is proposed to be paid, together with a declaration from such persons that they do not have a bank account, where the amount proposed to be paid is ₹ 10,000/- or more. The list should indicate the purpose for which the proposed payments are bein...

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Ensure Adequate cash supply during Rabi Crop Season: RBI

RBI/2016-17/148 DCM (Plg) No.1345/10.27.00/2016-17 (22/11/2016)

#Demonetisation It is estimated that about ₹ 35,000/- crore would be required by the DCCBs for sanction and disbursement of crop loans to the farmers at the rate of ₹ 10,000/- crore per week. ...

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Watch Fraudulent Act of note exchange by Bank officials: RBI

RBI/2016-17/147 DCM (Plg) No.1341/10.27.00/2016-17 (22/11/2016)

#Demonetisation Few bank branch officials, in connivance with some miscreants, are indulging in fraudulent practices while exchanging SBNs in cash / accepting SBN deposits into account....

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Demonetisation- RBI cautions public on Bank Account misuse

Press Release : 2016-2017/1283 (22/11/2016)

It is reported that certain gullible persons are exchanging demonetised notes of Rs. 500 and Rs. 1000 on behalf of other and some are even helping them by depositing the hoarded cash into their own bank accounts...

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Demonetisation- RBI increases Prepaid Instrument Limit to Rs. 20000

Press Release : 2016-2017/1282 (22/11/2016)

PPIs issuers can issue PPIs to such merchants. While balance in such PPIs cannot exceed ₹ 20,000/- at any point of time, the merchants can transfer funds from such PPIs to their own linked bank accounts upto ₹ 50,000/- per month...

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Revised Guidelines for application of section 9A -Fund manager

Notification No. 106/2016-Income Tax (21/11/2016)

Fund manager shall not be considered to be a connected person of the fund merely for the reason that the fund manager is undertaking fund management activity of the said fund....

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Revised simplified procedure for fixation of brand rates

Circular No. 54/2016-Customs (22/11/2016)

The working sheet (submitted by applicant with brand rate fixation claim) showing the drawback amount, each document wise, in support of claim, shall bear -...

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Admissibility of expense by a firm on Keyman Insurance Policy of Partner

Circular No. 38/2016-Income Tax (22/11/2016)

The issue relating to admissibility of expenditure incurred by a firm on Keyman Insurance Policy premium in the case of a partner has been a contentious one....

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Automatic information of accounts of Indian residents in Switzerland

India be able to receive from Sept, 2019 onwards,the financial information of accounts of Indian residents in Switzerland on automatic basis...

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Posted Under: Fema / RBI |