Press Releases

RBI Notifies Changes in Market Hours

Press Release: 2019-2020/2175 (03/04/2020)

The unprecedented situation created by the COVID-19 outbreak has necessitated lockdowns, social distancing, restrictions on movement of people and non-essential activities, work from home arrangements and business continuity plans....

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RBI announces further measures for dealing with COVID-19 pandemic

Press Release : 2019-2020/2167 (01/04/2020)

Reserve Bank Of India Date : Apr 01, 2020 1. Extension of realisation period of export proceeds Presently value of the goods or software exports made by the exporters is required to be realized fully and repatriated to the country within a period of 9 months from the date of exports. In view of the disruption […]...

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FM Releases Ordinance on relaxation Provided on 24th March 2020

(Release ID: 1609734) (31/03/2020)

Finance Ministry issues Taxation and other Laws (Relaxation of Certain Provisions) Ordinance, 2020 today In order to give effect to the announcements made by the Union Finance Minister vide Press Release dated 24.03.2020, regarding several relief measures relating to statutory and regulatory compliance matters across sectors in view of CO...

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Govt extends FTP 2015-2020 for one year with other relief measures

Release ID: 1609704 (31/03/2020)

Foreign Trade Policy 2015-2020 extended for one year; Other immediate relief measures also announced The Union Commerce and Industry Ministry today announced changes in the Foreign Trade Policy (FTP) of Government of India. The present Policy which came into force on 1st April, 2015, is for 5 years and has validity upto 31st March, 2020. ...

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MCA introduces Companies Fresh Start Scheme 2020 & Revises LLP Settlement Scheme 2020


Ministry of Corporate Affairs introduces the 'Companies Fresh Start Scheme, 2020' and revised the 'LLP Settlement Scheme, 2020' to provide relief to law abiding companies and Limited Liability Partnerships (LLPs) in the wake of COVID 19...

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Lockdown period shall not be counted for CIRP Activities: IBBI

Press Release No. IBBI/PR/2020/06 and Notification No. IBBI/2019-20/GN/REG059 (29/03/2020)

1) These regulations may be called the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) (Third Amendment) Regulations, 2020. (2) They shall come into force on the 29th March, 2020....

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Changes in Branch Names of Merged PSU Banks from April 1, 2020

Press Release: 2019-2020/2136 to 2139 (28/03/2020)

RBI issues Press Rleases on 28.03.2020 specifying that Branches of Allahabad Bank to operate as branches of Indian Bank from April 1, 2020, Branches of Andhra Bank and Corporation Bank to operate as branches of Union Bank of India from April 1, 2020, Branches of Oriental Bank of Commerce and United Bank of India to […]...

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RBI reduces repo rate & reverse repo rate by 75 & 90 basis points

Press Release: 2019-2020/2129, Press Release : 2019-2020/2130 (27/03/2020)

On the basis of an assessment of the current and evolving macroeconomic situation, the Monetary Policy Committee (MPC) at its meeting today (March 27, 2020) decided to: reduce the policy repo rate under the liquidity adjustment facility (LAF) by 75 basis points to 4.40 per cent from 5.15 per cent with immediate effect;...

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FM relaxes Tax & Regulatory Compliance in view of COVID-19 outbreak

Release ID: 1607942 (24/03/2020)

Extend last date for income tax returns for (FY 18-19) to 30th June, 2020. Aadhaar-PAN linking date to be extended to 30th June, 2020....

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PM announces complete lockdown of entire nation for 21 days

Release ID: 1607995 and Release ID: 1608009 (24/03/2020)

Prime Minister Shri Narendra Modi called for a complete lockdown of the entire nation for the next 21 days beginning at midnight tonight in an effort to contain the COVID-19 Pandemic....

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