The Central Bureau of Investigation has registered a case on a complaint received from State Bank of India against a private rice company based at Karnal (Haryana) & its three Directors and unknown others including unknown public servants.
In a news item in today’s Business Line it has been reported that SEBI has discontinued the use of POA between a client and broker in the equity markets. This is not correct – there is no restriction imposed on use of POA by broker.
Central Board of Direct Taxes (CBDT) has issued tax refunds worth Rs. 26,242 crore to 16,84,298 assessees since 1st April, 2020 to 21st May, 2020. Income Tax refunds amounting to Rs. 14,632 crore have been issued to 15,81,906 assessees and corporate tax refunds amounting to Rs. 11,610 crore have been issued to 1,02,392 assessees during this period.
Keeping in view the objective of ensuring orderly trading and settlement, effective risk management, price discovery and maintenance of market integrity, it has been decided that the measures implemented since March 23, 2020 will continue to be in force till June 25, 2020.
In respect of working capital facilities sanctioned in the form of cash credit/overdraft, lending institutions are being permitted to allow a deferment of another three months, from June 1, 2020 to August 31, 2020, in addition to the three months allowed on March 27, 2020 on payment of interest in respect of all such facilities outstanding as on March 1, 2020.
On the basis of an assessment of the current and evolving macroeconomic situation, the Monetary Policy Committee (MPC) at its meeting today (May 22, 2020) decided to: reduce the policy repo rate under the liquidity adjustment facility (LAF) by 40 bps to 4.0 per cent from 4.40 per cent with immediate effect;
Lower rate of EPF subscription 10% with EPFO notified placing higher liquidity in the hands of employees and employers during COVID -19 pandemic. Government Sector, their PSEs and establishment whose subscription is being borne by Union Government under PMGKY continue to have subscription at old rates of 12%. Lower rates to be applicable for salary months of May, June and July 2020.
♦ Rs 40,000 crore increase in allocation for MGNREGS to provide employment boost. ♦ Increased investments in Public Health and other health reforms to prepare India for future pandemics.♦ Technology Driven Education with Equity post-COVID. ♦ Further enhancement of Ease of Doing Business through IBC related measures.
a. There will be fast tracking of investment clearance through Empowered Group of Secretaries. b. Project Development Cell will be constituted in each Ministry to prepare investible projects, coordinate with investors and Central/State Governments. c. There will be ranking of States on investment attractiveness to compete for new investment. d. Incentive schemes for promotion of new champion sectors will be launched in sectors such as solar PV manufacturing; advanced cell battery storage etc.
Operational Guidelines for Switch/Conversion Transactions with the Government of India – Switch module on ekuber – 1. The market participants can bid in the switch auction through the Switch Transaction module provided in the e-kuber portal.
