Notification No. 61/2012-Customs – Seeks to amend notification No 10/2008 – Customs, dated 15th January 2008, so as to further deepen the tariff concessions in respect of goods imported from Singapore under the Comprehensive Economic Cooperation Agreement (CECA) between India and Singapore.
Notification No. 54/2012-Income Tax In exercise of the powers conferred by Explanation 2 to section 90 of the Income- tax Act, 1961 (43 of 1961), the Central Government hereby notifies Sint Maarten, a part of Kingdom of Netherlands, the area outside India as the ‘specified territory’ for the purposes of the said section.
As per extant instructions on Interest Rates on Deposits, RRBs on request from the depositor, should allow closure of a term deposit, a deposit in the form of daily deposit or recurring deposit, to enable the depositor to immediately reinvest the amount lying in the aforesaid deposits with the same bank in another term deposit.
It has been decided to extend the time up to March 31, 2013 for banks to ensure withdrawal of non-CTS 2010 Standard cheques and replace them with CTS-2010 Standard cheques. However, it may be noted that the residual non-CTS-2010 Standard cheques that get presented in the clearing system beyond this extended period will continue to be accepted for the clearing but will be cleared at less frequent intervals.
Please refer to paragraphs 106 and 107 (extract enclosed) of the Second Quarter Review of Monetary Policy 2012-13 announced on October 30, 2012, proposing to accord general permission to banks for issue of co-branded debit and rupee denominated pre-paid instruments, subject to certain conditions, in order to obviate the need for banks to approach the Reserve Bank for every co-branding arrangement.
Issue of rupee denominated pre-paid payment instruments is subject to the stipulations contained in the Notification on the Issuance and Operation of Pre-paid Payment Instruments in India (Reserve Bank) Directions, 2009 by Department of Payment and Settlement Systems (DPSS) of the Reserve Bank of India, under the Payment and Settlement Systems Act, 2007
It is understood that sometimes the customers opening joint accounts with or without ‘Either or Survivor ‘ mandate, are dissuaded from exercising the nomination facility. It is clarified that nomination facility is available for joint deposit accounts also. Banks are, therefore, advised to ensure that their branches offer nomination facility to all deposit accounts including joint accounts opened by the customers.
(i) making a false or misleading statement, or (ii) concealing or omitting material facts of the scheme, or (iii) concealing the associated risk factors of the scheme, or (iv) not taking reasonable care to ensure suitability of the scheme to the buyer.
G.S.R. 880 (E). – In exercise of the powers conferred by sub-section (1) of section 25 of the Customs Act, 1962 (52 of 1962), the Central Government, being satisfied that it is necessary in the public interest so to do, hereby makes the following further amendments in the notification of the Government of India in the Ministry of Finance (Department of Revenue) number G.S.R. 744 (E), dated the 14th November, 1995( No. 158/95-Customs, dated the 14th November, 199
Core Investment Companies (CICs) invest primarily in group companies, in different sectors of the economy. Being holding companies they need to invest in both financial and non-financial activities. It has therefore been decided to issue a separate set of Directions to CICs with regard to their overseas investments.
