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Reference is also invited to proviso 5.2 read in conjunction with Sl No. 2 Column 4 of Annexure – 1 of the within referred guidelines. With regard to the Registration Fee collected under RSBY in addition to the entities referred therein,
Though the Indian insurance industry has been in existence for over 125 years, the pace of standardization and integration has picked up speed with the liberalization of the sector. The most time and cost-consuming activities are concentrated in back office functions and administrative tasks. These business functions are the highest priority for automation and have the potential to deliver the fastest and greatest return on investment. While e-business greatly reduces these difficulties and removes all error-prone and slow administrative tasks, the challenge is ensuring that the sector is able to conduct business electronically.
In a case of bounced cheque, the Delhi high court has ruled that the magistrate in the place where the cheque was drawn and where the drawee bank is situated has jurisdiction to deal with the complaint. The power under the Negotiable Instruments Act is not with the magistrate where the cheque was presented or from where the notice was issued to the offending party. Shree Raj issued some 45 cheques drawn on State Bank of India in Mumbai to Destination of the World in New Delhi. When the payee company presented them to ICICI Bank in Delhi, they were dishonoured by bank for want of funds.
Reference is invited to the captioned circular issued by the Authority. The Authority is in receipt of representations from the Industry seeking revisiting of certain provisions of the said circular. Accordingly, keeping in view the objective of ensuring higher levels of persistency of life insurance policies as also conserving the agency force, the Authority issues the following modifications.
In partial modification of Clause (1) of the captioned circular the term ‘relative’ is re defined as “the term ‘relative’ shall include spouse, dependent children or dependent step children, whether residing with the employee or not”. Further it is clarified that this clause is applicable only in respect of agents who are licensed or whose agency is transferred to another insurer on or after 01st July, 2011.
1) Annual filing of Form 8 is now taken in straight through process. Users are requested to download the new eForm for their filing. 2) Forms 17 & 2 and Forms 18 & 2 will be linked and processed together in the back-office to speed up the conversion process. 3) Viewing of public documents filed by LLPs are enabled.
In exercise of the powers conferred by sub-sections (1) and (2) of section 79 of the Limited Liability Partnership Act, 2008 (6 of 2009), the Central Government hereby makes the following rules, further to amend the Limited Liability Partnership Rules, 2009 namely:-
Union Corporate Affairs Minister Dr. M. Veerappa Moily has said that the announcement of the national competition policy will be the second biggest reform initiative after the 1991 economic reforms. Dr. Moily was chairing the first Consultation Meeting organized by the Indian Merchants’ Chamber and the Indian Institute of Corporate Affairs in Mumbai today. He hoped that the Cabinet’s nod will be obtained by the end of this year to pave way for the New Competition Policy next year.
1. What is the full form of CRA? The full form of CRA is Credit Rating Agency. 2. What is a credit rating agency? A credit rating agency is an entity which assesses the ability and willingness of the issuer company for timely payment of interest and principal on a debt instrument.
Comments Invited By 19th September, 2011 from chambers of the industries, corporates, law firms, members of civil society or other stakeholders on the draft National Competition Policy version – II to the Ministry. Comments can be sent by mail at dircs@mca.gov.in.
