Post demonetisation RBI introduced incremental CRR of 100% on deposits collected between September 16 and November 11 2016 to absorb excess liquidity in banks
After Demonetization, certain depositors are hesitating to deposit their monies into bank accounts in view of the current limits on cash withdrawals from accounts.
Start-up Initiative: a Fund of Funds of INR 10,000 Crores to Support Innovation Driven Start-Ups has been Established to be Managed by SIDBI
Press Information Bureau Government of India Ministry of Finance 16-December-2016 17:33 IST Norms for Angel Funds A framework for registration and regulation of angel pools under a sub-category ”Angel Funds” under Category I-Venture Capital Funds have been provided in SEBI (Alternative Investment Funds) Regulations, 2012 (“AIF Regulations”) on 16.09.2013. Subsequently, in the board meeting held […]
Norms and Procedure for Appointment of Non-Official Directors (NODs) on the Boards of Public Sector Banks (PSBs)/Reserve Bank of India (RBI)/Financial Institutions (FIs)/Public Sector Insurance Companies (PSICs)
Central Government reduced import duty on wheat, potatoes and crude palm oil , to stabilize prices of these commodities in country
As per Taxation and Investment Regime for Pradhan Mantri Garib Kalyan Yojana, 2016, Taxes will have to be paid first and then scheme can be availed on production of tax receipt, unlike recent Income Disclosure Scheme
India and Switzerland signed the ‘Joint Declaration’ for implementation of Automatic Exchange of Information (AEOI) on 22.11.2016;
While Searches have been carried out in 291 cases across country, 295 cases have been covered by survey action. In addition to these, open enquiries have been effected in more than 3000 cases.
Central Government hereby- (i) notifies the Principal Commissioner or the Commissioner, as the case may be, who exercises the jurisdiction under section 120 of the Income-tax Act, 1961 (43 of 1961)
