RBI Master Circular on Conduct of Government Business by Agency Banks – Payment of Agency Commission dated April 1, 2023
The policy of income recognition has to be objective and based on the record of recovery. Therefore, the banks should not charge and take to income account interest on any NPA. This will apply to Government guaranteed accounts also.
Rule 114AAA of the Income-tax Rules, 1962 related to Manner of making permanent account number (PAN) inoperative is applicable from 1st day of July, 2023. Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes (TPL Division) New Delhi *** Order No. F. No. 370142/14/2022-TPL Dated 1st April, 2023 Sub: Specified […]
Reserve Bank ogf India RBI/2023-24/05 DoR.STR.REC.4/09.27.000/2023-24 April 1, 2023 The Managing Director / Chief Executive Officers All Primary (Urban) Co-operative Banks Dear Sir / Madam, Master Circular – Guarantees, Co-Acceptances & Letters of Credit – UCBs Please refer to our Master Circular DoR.STR.REC.9/09.27.000/2022-23 dated April 1, 2022 on the captioned subject (available at RBI website https://rbi.org.in/). The enclosed Master […]
Reserve bank of India RBI/2023-24/04 DOR.STR.REC.5/13.07.010/2023-24 April 1, 2023 All Scheduled Commercial Banks (excluding Payments Banks and RRBs) Dear Sir / Madam Master Circular – Guarantees and Co-acceptances Please refer to the Master Circular DOR.STR.REC.8/13.07.010/2022-23 dated April 1, 2022 consolidating the instructions / guidelines issued to banks till March 31, 2022, relating to Guarantees and Co-acceptances. This Master […]
Self Help Groups have the potential to bring together the formal banking structure and the rural poor for mutual benefit. Studies conducted by NABARD in a few states to assess the impact of the linkage project have brought out encouraging
In order to ensure that minority communities secure, in a fair and adequate measure, the benefits flowing from various Government sponsored schemes, Scheduled Commercial Banks (referred to as ‘banks’ hereafter) are advised to ensure smooth flow of bank credit to minority communities.
In order to encourage SC/ST borrowers to take advantage of credit facilities, greater awareness among them about various schemes formulated by banks needs to be created through various means such as brochures, visits by field staff etc so that salient features of the schemes, as also the advantages that will accrue to them are known to such borrowers. Banks should advise their branches to organize meetings more frequently exclusively for SC/ST beneficiaries to understand their credit needs and to incorporate the same in the credit plan.
Notification No. 16/2023- Income Tax Dated: 01st April, 2023 – CBDT notifies Tax Exemption to Bhadohi Industrial Development Authority, a body constituted by the state government of Uttar Pradesh, in respect of the specified income under section 10(46) of Income Tax Act, 1961. MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) Notification […]
CBIC notifies manner of issue of duty credit for goods exported under the RoSCTL Scheme under Foreign Trade Policy, 2023 vide Notification No. 25/2023-Customs (N.T.) Dated: 1st April, 2023. GOVERNMENT OF INDIA MINISTRY OF FINANCE (DEPARTMENT OF REVENUE) Notification No. 25/2023-Customs (N.T.) | Dated: 1st April, 2023 G.S.R. 262(E) – In exercise of the powers conferred […]
