Some of the key aspects of the Guidelines include: (i) resident individuals and professionals having 10 years of experience in banking and finance at a senior level are also eligible to promote universal banks; (ii) large industrial houses are excluded as eligible entities but are permitted to invest in the banks up to 10 per cent
In the Joint Meeting of the Honourable the Acting Chief Justice and the Committee to formulate Code for the Press and Electronic Media in relation to Reporting of Court Proceedings in the High Court of Kerala, it was noted that there is need to make public the fact that there is no ban imposed on the Journalists from attending and reporting Court Proceedings.
Under section 115QA of the Income-tax Act, 1961 (the Act), additional Income-tax at the rate of 20 percent is levied on the distributed income arising out of buy back of unlisted share by the company. The distributed income was defined to be the consideration paid by the company on buy back of shares as reduced by the amount which was received by the company for issue of such shares.
The Government of India has reviewed the extant FDI policy on various sectors and made following amendments in the Consolidated FDI Policy Circular of 2016 issued on June 07, 2016 (FDI Policy).
The objective of this consultation paper is to seek comments from the public for the purpose of laying down an enabling framework for the registration of Eligible Fund Managers to manage Eligible Investment Funds pursuant to insertion of Section 9A in the Income Tax Act, 1961.
The Government has taken the momentous step of both setting a Consumer Price Index (CPI) based inflation objective for the Reserve Bank of India as well as setting up an independent monetary policy committee (MPC). We intend to ensure these frameworks and institutions work as they should in producing a low inflation future for India.
Today, I feel proud that we at the Reserve Bank have delivered on all these proposals. A new inflation-focused framework is in place that has helped halve inflation and allowed savers to earn positive real interest rates on deposits after a long time. We have also been able to cut interest rates by 150 basis points after raising them initially.
A. Consultation Paper for Amendments to the SEBI (Portfolio Managers) Regulations, 1993 pursuant to introduction of Section 9A in the Income Tax Act, 1961 B. Consultation Paper for Amendments to the SEBI (Real Estate Investment Trusts) Regulations, 2014
In order to make the process of registration of new NBFCs smoother and hassle free, the application form for registration of new NBFCs and the checklist of documents to be submitted have been revised. The number of documents to be submitted by the NBFC applicants has been reduced from existing set of 45 documents to 7-8 in the revised process.
The general public is hereby cautioned to deal with only SEBI registered investment advisers and research analysts for availing investment advisory services/ research services. The details of SEBI registered investment advisers and research analysts are available on the SEBI website www.sebi.gov.in.
