Stock exchanges and mutual funds/AMCs, based on the experience gained may further improve the mechanism in the interest of investors. Necessary clarifications, if any, would be issued at appropriate time by SEBI in this regard.
Based on recommendations of the Secondary Market Advisory Committee, it has been decided to allow flexibility to the Stock Exchanges to set the expiry date / day for equity derivative contracts
A representation has been received from Zonal Joint Director General of Foreign Trade, Mumbai Office seeking clarification regarding calculation of Foreign Exchange earned for redemption of EPCG Authorizations issued to Service Providers in terms of provisions ofCircular No. 25 dated 01.01.2008.
In this connection, it may be mentioned that frequent dishonour of cheques of value of less than Rs. 1 crore is also a matter of concern and banks need to take appropriate action in those accounts where such dishonour of cheques occur.
While conducting the inspection of the stock broker, the stock exchange shall also conduct inspection of branches where the terminals of authorised persons are located and records of the operations carried out by them.
The amount charged to the pilgrims in India undertaking Haj and Umrah pilgrimage, is for services provided by the Government of Saudi Arabia and the tour takes place outside India. As perRule 3 (1) (ii) of the Export of Services Rules, 2005, (Circular No. 111/05/2009 – ST dated 24.02.2009), the service in respect of tour operator is export if such service is performed outside India.
Requests have been received from few firms stating that original EP-cum-Exchange Control copy of Shipping Bill have been submitted to the Bank by them for negotiation purpose and the same is not receivable from the Bank and they have requested to consider their claims under VKGUY and FMS/FPS Schemes on the basis of submission of self attested copies of the Shipping Bills.
The Amnesty Scheme is open for the period from 1st August, 2009 to 31st March, 2010 and is called “Profession tax Enrollment Incentive scheme 2009”.
In paragraph 5 (b) of the above circular,it has been advised to RRBs that as and when lists of individuals and entities, approved by Security Council Committee established pursuant to various United Nations’ Security Council Resolutions (UNSCRs), are received from Government of India, the Reserve Bank circulates these to all banks and financial institutions.
I am directed to say that Board has received various references from the trade association and field formations regarding issue of licenses to cigarette manufacturing units.
