As announced in the First Bi-monthly Monetary Policy Statement for the year 2016-17 (paragraph 36) on April 5, 2016, it has been decided to make it obligatory for the Primary Members (PM) to offer the web-based NDS-OM module to their constituent gilt account holders (excluding individuals) for online trading in Government securities in the secondary market.
On a review, in consultation with the Government of India, it has been decided to allow foreign investment up to 100% under the automatic route in ‘Other Financial Services’.
It has been observed that there is a lack of uniformity among banks in the application of risk weights on their exposures to Housing Finance Companies (HFCs).
Banks and other eligible holders can acquire more than 500 gms. of SGBs in a fiscal year, through transfers etc., including transfers arising out of recovery proceedings.
The Payment and Settlement Systems Act, 2007 (PSS Act) has designated the Reserve Bank of India (Reserve Bank) as the authority for regulation and supervision of payment systems. Under the said Act, certain powers have been conferred upon the Reserve Bank.
Application forms from investors will be received at branches during normal banking hours from October 24, 2016 to November 2, 2016. Receiving Offices need to ensure that the application is complete in all respects as incomplete applications are liable to be rejected.
Rule 40BB. Amount received by the company in respect of issue of share- Where the share has been issued by a company to any person by way of subscription, amount actually received by the company in respect of such share including any amount actually received by way of premium shall be the amount received by the company for issue of such share.
Government herby makes the following rules to amend the Senior Citizens’ Welfare Fund Rules, 2016, namely:- 1. (1) These rules may be called the Senior Citizens’ Welfare Fund (Amendment) Rules, 2016.
Reconstruction or splitting up of a company which ceased to be a public sector company as a result of transfer of its shares by Central Govt into separate companies, shall be deemed to be a demerger if following conditions are fulfilled
Lt. Governor of the National Capital Territory of Delhi is pleased to appoint the following AVATOs, with effect from the date of assumption of charge to assist the Commissioner of Value Added Tax, Government of National Capital Territory of Delhi in the administration of the said Act, namely :
