The date for implementation of Track and Trace system for export of drug formulations with respect to maintaining the Parent-Child relationship in packaging levels and its uploading on Central Portal has been extended upto 31.3.2023 for both SSI and non SSI manufactured drugs. Government of India Ministry of Commerce and Industry Department of Commerce Directorate […]
For transfer of securities held in the beneficial owner account of the client towards Stock Exchange related deliveries / settlement obligations arising out of trades executed by such a client on the Stock Exchange through the same stock broker.
CBDT notifies Income Tax Rule 21AAA. Taxation of income from retirement benefit account maintained in a notified country and FORM No. 10-EE vide Notification No. 24/2022-Income Tax Dated: 4th April, 2022. MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) New Delhi, the 4th April, 2022 Notification No. 24/2022-Income Tax G.S.R. 256(E).— In exercise of […]
The Competition Commission of India (CCI) has notified the revised format of Form II (i.e. long form of merger notification) vide Notification no. CCI/CD/Amend/Comb. Regl./2022 dated 31st March 2022.
Account Details for fee to be remitted to IFSCA- It is hereby informed that existing SWIFT code of the USD current account has changed from ICICINBBIBU to ICICINAAXXX.
SEBI has today constituted an ad-hoc committee for reviewing and making recommendations for further strengthening of governance norms at Market Infrastructure Institutions (MIIs). The members of the committee are:
In view of representation received from credit rating agencies, it has been decided to extend the date of applicability of the section B of the aforesaid circular. Credit rating agencies shall ensure compliance with the requirements/ provisions of the section B of the aforesaid circular on or before June 30, 2022.
As the standardized framework will help bring about uniformity in the classifications being used across sectors and in securities market, credit rating agencies are advised to use this standardized industry classification for the purpose of rating exercise, peer benchmarking, research activities including research for Economy, Industries and Companies etc.
Banks, with their vast branch network throughout the length and breadth of the country, occupy a very strategic position in the financial system and have an important role to play in providing credit to the housing sector.
The policy of income recognition should be objective and based on record of recovery rather than on any subjective considerations. Likewise, the classification of assets of banks has to be done on the basis of objective criteria which would ensure a uniform and consistent application of the norms. Also, the provisioning should be made on the basis of the classification of assets based on the period for which the asset has remained non-performing and the availability of security and the realisable value thereof.
