As regards the settlement mechanism for the IRF contracts, it has been decided that all entities having short (sold) position in the IRF contracts and required to deliver securities on the appointed date will move these securities from their respective Subsidiary General Ledger/Constituents ‘ Subsidiary General Ledger (SGL/CSGL) accounts with the RBI to a special “Settlement” SGL account of the respective Clearing Corporations of the Exchanges [Exchange Clearing House (ECH) / Exchange Clearing Corporation (ECC)] authorised to deal in IRF.
Good corporate governance practices are a sine qua non for sustainable business that aims at generating long term value to all its shareholders and other stakeholders. Some aspects of corporate governance have been enshrined in the law that is administered by the Ministry of Corporate Affairs, SEBI and other sectoral regulators.
Whereas, in the matter of import of Flax Fabric (hereinafter referred to as the subject goods), falling under sub-heading 5309 of the First Schedule to the Customs Tariff Act, 1975 (51 of 1975) (hereinafter referred to as the said Customs Tariff Act), originating in, or exported from, People’s Republic of China and Hong Kong(hereinafter referred to as the subject countries) and imported into India, the designated authority in its preliminary findings vide notification No.14/08/2008-DGAD dated the 17th February, 2009, published in the Gazette of India, Extraordinary, Part I, Section 1, dated the 17th February, 2009, had come to the conclusion that-
Notification No. 94/2009 – Income Tax For the purpose of computing the income chargeable under the head Salaries, the value of perquisites provided by the employer directly or indirectly to the assessee (hereinafter referred to as employee) or to any member of his household by reason of his employment shall be determined in accordance with the following sub-rules, namely:-
The use of Automated Teller Machines (ATMs) has been increasing in the country. We have been receiving complaints from members of the public that at many ATM locations the telephone numbers of help desk/ contact persons are not displayed causing difficulties in lodging complaints. Customers using other bank ATMs are also unclear as to the bank with whom complaints on account of failed ATM transactions are to be lodged. The matter has been examined by the Reserve Bank of India and it has been decided that the following information should be displayed prominently at the ATM locations:
In partial relaxation of ban on export of edible oil imposed vide Notification No.85 dated 17th March, 2008 as amended vide above subsequent Notifications, it has been decided by competent authority that export of edible oil shall be allowed as unde.
On a review of RTGS timings and the volume of business handled by RTGS on Saturdays, the RTGS Standing Committee has decided to extend RTGS timings for customer and inter-bank transactions on Saturdays. Accordingly, the revised time window for customer and interbank transactions in RTGS would be as follows:
Please refer to our Circular RPCD.SP.BC.No 117/09.03.01/2008-09 dated June 30, 2009 advising the banks to complete implementation of the Self Employment Scheme for Rehabilitation of Manual Scavengers (SRMS) by September 30, 2009. The implementing agencies have been requested to complete implementation of the scheme by September 30, 2009.
Please refer to paragraph 7.5 of our Master Circular dated July 1, 2009 on Lending to Priority Sector, in terms of which loans granted to Housing Finance Companies (HFCs), approved by National Housing Bank for the purpose of refinance, for on-lending to individuals for purchase/construction of dwelling units, provided the housing loans granted by HFCs do not exceed Rs.20 lakh per dwelling unit per family, are eligible to be classified under priority sector. However, the eligibility under this measure is restricted to five per cent of the individual bank’s total priority sector lending, on an ongoing basis. The above special dispensation is applicable to loans granted by banks to HFCs up to March 31, 2010.
2. With a view to disseminating information on the SLR status of a Government security, it has been decided that: (i) the SLR status of securities issued by the Government of India and the State Governments will be indicated in the Press Release issued by the Reserve Bank of India at the time of issuance of the securities; and (ii) an updated and current list of the SLR securities will be posted on the Reserve Bank’s website (www.rbi.org. in) under the link ” Database on Indian Economy”.
