At present, banks obtain liquidity from the Reserve Bank under the liquidity adjustment facility (LAF) against the collateral of eligible securities that are in excess of their prescribed statutory liquidity ratio (SLR). It has been decided that, in addition, purely as a temporary measure, scheduled commercial banks may avail additional liquidity support under the LAF to the extent of up to 0.5 per cent of their net demand and time liabilities. The additional liquidity support will be available with effect from the LAF auctions of May 28, 2010 and up to July 2, 2010.
DNBS(PD) CC.No 175/03.10.42/2009-10- Government of India vide its Notification No. 7/2010-E.S.F.No6/8/2009-E.S dated February 12, 2010 has amended the Prevention of Money-laundering (Maintenance of Records of the Nature and Value of Transactions, the Procedure and Manner of Maintaining and Time for Furnishing Information and Verification and Maintenance of Records of the Identity of the Clients of the Banking Companies, Financial Institutions and Intermediaries) Rules, 2005. A copy of the Notification is enclosed for ready reference, which may be studied and the amendments clearly noted and spread across your organisation.
In exercise of powers conferred under section 5 of the Foreign Trade (Development and Regulation) Act, 1992 read with paragraph 2.1 of the Foreign Trade Policy, 2009-2014, the Central Government hereby makes the following amendments in Schedule –1 of the ITC(HS) Classifications of Export and Import Items.
Attention of Authorized Dealer Category – I (AD Category – I) banks is invited to the A.P. (DIR Series) Circular No. 22 dated December 7, 2000,A.P. (DIR Series) Circular No. 02 dated July 27, 2001 and A.P. (DIR Series) Circular No. 49 dated June 4, 2002 in terms of which it was advised that remittance in any form towards participation in lottery schemes are prohibited under the Foreign Exchange Management Act, 1999.
Notification No. 40/2010-Income Tax In exercise of the powers conferred by sub-sections (1) and (2) of section 120 of the Income-tax Act, 1961 (43 of 1961), the Central Board of Direct Taxes hereby makes the following further amendments in the notification of the Government of India, Ministry of Finance (Department of Revenue) Central Board of Direct Taxes, number S.O. 732(E), dated the 31st July, 2001, namely:-
Notification No. 39/2010-Income Tax It is hereby notified for general information that the organization Bose Institute, Kolkata has been approved by the Central Government for the purpose of clause (ii) of sub-section (1) of section 35 of the Income-tax Act, 1961 (said Act), read with Rules 5C and 5E of the Income-tax Rules, 1962 (said Rules), from Assessment year 2009-2010 onwards in the category of ‘ASSOCIATION’, partly engaged in research activities
Notification No. G.S.R. 445(E)-Income Tax In the Competition Commission of India (Return on Measures for the promotion of competition Advocacy, Awareness and Training on Competition Issues) Rules, 2008, in rule 3, for sub-rule (5), the following sub-rule shall be substituted, namely :-
NOTIFICATION NO. 46 /2009-14 “2.1 Transitional arrangements allowed under Para 1.5 of the Foreign Trade Policy, 2009-2014, shall, in public interest, not be applicable to the restrictions imposed as above vide this notification.”
S.O. 1217(E). In exercise of power by sub section (2) of section 1 of the Payment of Gratuity (Amendments) Act, 2010(15 of 2010), the central Government hereby appoints the 24thday of May, 2010 the on which said act will come into force.
In exercise of powers conferred by Section 5 and section 3(2) of the Foreign Trade (Development and Regulation) Act, 1992 read with paragraph 1.3 and paragraph 2.1 of the Foreign Trade Policy, 2009-14, as amended from time to time, the Central Government hereby amends Schedule 2 (Export Policy) of the ITC (HS) Classifications of Export and Import.
