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Notifications

Opening of ‘Small Bank Account’ – NREGA job card and letters issued by the UIDAI can be treated ac KYC documents

August 8, 2011 2649 Views 0 comment Print

The Notification has also expanded the definition of ‘officially valid document’ as contained in clause (d) of Rule 2(1) of the PML Rules to include job card issued by NREGA duly signed by an officer of the State Government or the letters issued by the Unique Identification Authority of India containing details of name, address and Aadhaar number. RPCD.CO RRB.AML.BC.No.15 /03.05.33(E)/2011-12

Notification No. 70/2011-Customs, Dated-5th August, 2011

August 5, 2011 450 Views 0 comment Print

Notification No. 70/2011-Customs The anti-dumping duty imposed shall remain in force for a period of five years (unless revoked, superseded or amended earlier) from the date of publication of this notification in the Official Gazette and shall be payable in Indian currency.

Competition Law – CCI (Form and Time of Preparation of Annual Report) Amendment Rules, 2011 – Amendment in Schedule

August 4, 2011 517 Views 0 comment Print

These rules may be called the Competition Commission of India (Form and Time of Preparation of Annual Report) Amendment Rules, 2011. They shall come into force from the date of their publication in the Official Gazette.

Notification No. 65 (RE-2010)/2009-2014, Dated: 04/08/2011

August 4, 2011 418 Views 0 comment Print

Existing policy conditions (prior to this amendment) as available at page 474-475, for the Exim Codes 6802 10 00, 6802 21 10, 6802 21 20, 6802 21 90, 6802 91 00 and 6802 92 00 of Chapter 68 of ITC(HS) Classifications of Export and Import Items are extracted below (earlier policy conditions).

Notification No. 64 (RE-2010)/2009-2014, Dated: 04/08/2011

August 4, 2011 5153 Views 0 comment Print

Notification No. 64 (RE-2010)/2009-2014 Import policy of rough marble blocks for the year 2011-12 has increased the import quota from 3 lakh MT to 5 lakh MT with an MIP of US$ 325 per MT.

DGFT – Export of Cotton [ITC (HS) Code 5201 and 5203] – obtaining of Registration Certificate

August 4, 2011 349 Views 0 comment Print

Exporters intending to export cotton [ITC (HS) Codes 5201 and 5203] will apply to the Regional Authority (RA) for grant of Registration Certificate (RC) subject to the following conditions – (i) The applicant should not be a defaulter / must not be in the Denied Entities List (DEL). (ii) An applicant shall submit a performance guarantee in the form of a Bank Guarantee (in the format given in Annexure 2) for 2.5% of the value equivalent of the quantity for which RC is being applied, or for Rs 1 lakh, whichever is more. Notification No. 63 (RE-2010)/2009-2014,

RBI – Security Issues and Risk mitigation measures related to Card Not Present (CNP) transactions

August 4, 2011 1138 Views 0 comment Print

Based on the feedback from the stakeholders and keeping in view the interest of card holders the following directions are issued: It is mandatory to put in place additional factor of authentication for all CNP transactions indicated in para 4 of our directions dated December 31, 2010 with effect from May 01, 2012. In case of customer complaint regarding issues, if any,arising out of transactions effected without the additional factor of authentication after the stipulated date, the issuer bank shall reimburse the loss to the customer further without demur.

Substitution of term Micro and Small Enterprises in place of SSI in the documents

August 3, 2011 519 Views 0 comment Print

Issued by the Ministry of Small Scale Industries andS.O.563 (E) dated February 27, 2009 issued by Ministry of Commerce and Industry regarding substitution of term ‘Micro and Small Enterprises’ in place of the term ‘Small Scale Industries’ are enclosed. Kindly ensure that your internal guidelines / instructions are compliant with these notifications.

Export of Cotton [ITC (HS) Code 5201 & 5203], amendment in nature of restriction

August 2, 2011 1275 Views 0 comment Print

The cap on export of cotton [ITC (HS) Code 5201 & 5203] has been removed. However, condition regarding registration of contracts with DGFT would continue to apply. A new procedure of registration is being separately notified for export of Cotton [ITC (HS) Code 5201 & 5203]. In respect of cotton waste including yarn waste and garneted stock [ITC (HS) Code 5202] there is no change even in the procedure to obtain registration.

Comprehensive Guidelines on Derivatives – Modifications

August 2, 2011 1461 Views 0 comment Print

Please refer to our Circular DBOD No. BP. BC. 86/21.04.157/2006-07 dated April 20, 2007 on Comprehensive Guidelines on Derivatives. The guidelines with regard to suitability and appropriateness policy for offering of derivative products to users, as outlined in paragraph 8.3 of the said circular, have been reviewed in the light of experience gained in implementation of the guidelines over last four years. The revised guidelines are furnished in the Annex (changes indicated in bold italics).

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