A doubt has been expressed on the financial activities which promote dairy development in the districts. As credit under the dairy segment (including procurement, storage, processing, collection, transportation, etc.) primarily benefits small/marginal farmers and tiny units, it has been decided that bank credit to all activities which contribute to the development of dairy business would be treated as indirect finance to agriculture under priority sector. However, due care may be exercised by banks to ensure that the ultimate beneficiaries are farmers engaged in dairy farming, who will benefit from such investment.
With a view to providing greater flexibility to RRBs in mobilising non-resident deposits and also in view of the prevailing market conditions, it has been decided to deregulate interest rates on Non-Resident (External) Rupee (NRE) Deposits and Ordinary Non-Resident (NRO) Accounts (the interest rates on term deposits under Ordinary Non-Resident (NRO) Accounts are already deregulated). Accordingly, RRBs are free to determine their interest rates on both savings deposits and term deposits of maturity of one year and above under Non-Resident (External) Rupee (NRE) Deposit accounts and savings deposits under Ordinary Non-Resident (NRO) Accounts with immediate effect. However, interest rates offered by RRBs on NRE and NRO deposits cannot be higher than those offered by them on comparable domestic rupee deposits.
NC Notification No. 199/2011 – Income Tax In exercise of the powers conferred by sub-section (1) read with clause (b) of the Explanation to section 35AC of the Income-tax Act, 1961 (43 of 1961), the Central Government, on the recommendations of the National Committee for Promotion of Social and Economic Welfare, hereby notifies the institutions approved by the said National Committee, mentioned in column (2) of the Table below, and approves the eligible projects or schemes specified to be carried on by the said institutions and the estimated cost thereof as mentioned in column (3) of the said Table, and also specifies in the column (4) of the Table the maximum amount of such cost which may be allowed as deduction under the said section 35AC for the period of approval, namely:-
The Standing Committee constituted by the Authority by its order dated 25.08.2010 will receive the applications for the grant of ATI licenses and screening shall be done according to the eligibility criteria prescribed by the Authority. The Committee shall make necessary recommendations to Sr. JD (Intermediaries) who shall according to the recommendations of the Committee grant license or renew the licenses of ATI. The verification regarding the suitability, carrying out due diligence shall be the responsibility of the Committee and there shall not be any further examination after the Committee makes it recommendations.
With a view to providing greater flexibility to banks in mobilising non-resident deposits and also in view of the prevailing market conditions, it has been decided to deregulate interest rates on Non-Resident (External) Rupee (NRE) Deposits and Ordinary Non-Resident (NRO) Accounts (the interest rates on term deposits under Ordinary Non-Resident (NRO) Accounts are already deregulated). Accordingly, banks are free to determine their interest rates on both savings deposits and term deposits of maturity of one year and above under Non-Resident (External) Rupee (NRE) Deposit accounts and savings deposits under Ordinary Non-Resident (NRO) Accounts with immediate effect. However, interest rates offered by banks on NRE and NRO deposits cannot be higher than those offered by them on comparable domestic rupee deposits.
Please refer to Para 27 of the Mortgage Guarantee Company (Reserve Bank) Guidelines 2008 issued vide Notification DNBS(PD)MGC No.3 /CGM (PK) – 2008 dated February 15, 2008 wherein it has been stated that no mortgage guarantee company shall provide mortgage guarantee for a housing loan with 90% and above LTV ratio. As scheduled commercial banks are expected to seek mortgage guarantee for their housing loans, it has been decided to align the regulatory prescription of LTV ratio for mortgage guarantee companies with that of commercial banks and revise it downwards from 90% to 80% for housing loans exceeding Rs. 20 lakhs. However for small value housing loans i.e housing loans up to Rs. 20 lakh (which get categorized as priority sector advances), LTV ratio should not exceed 90%.
In exercise of the powers conferred by sub-sections (1), (2), (5) and (8) of section 25 and sub-section (2) of section 609 of the Companies Act, 1956(1 of 1956), the Central Government hereby makes the following regulations further to amend the Companies Regulations, 1956, namely :— 1. (1) These regulations may be called the Companies (Amendment) Regulations, 2011. (2) They shall come into force with effect from 18-12-2011.
We forward herewith a copy of Government of India Notification No. F.1/12/2011-NS-II dated November 25, 2011, on the captioned subject. The contents of the same are self-explicit. 2. In this regard, we advise that the contents of the Notification may be brought to the notice of the branches of your bank operating the PPF, 1968 and SCSS, 2004 Scheme. These should also be displayed on the notice boards of your branches for the information of the PPF, 1968 & SCSS, 2004 subscribers and agents.
Notification No 90 (RE – 2010)/2009-2014 – For export of Empty Gelatin capsule to EU, CAPEXIL will be the competent authority for issuance of shipment clearance certificate. Post shipment Health certificate will be issued jointly by CAPEXIL and Regional Animal Quarantine Officer, Department of Animal Husbandry, Dairying and Fisheries, Ministry of Agriculture, Government of India.
The Department of Revenue & Rehabilitation, Government of Punjab vide their Gazette Notification No. 1/1/2011-RE-II(I)/14544 & 14554 dated July 27, 2011 has advised about the constitution of new districts viz. Pathankot and Fazilka respectively with effect from July 27, 2011. The new district with its headquarter at Pathankot has been carved out from the existing Gurdaspur and comprises of two Tehsils viz. Pathankot & Dharkalan and another new district with its headquarter at Fazilka has been carved out from the existing Ferozepur district and comprises of three Tehsils viz. Fazilka, Jalalabad & Abohar.
