Press Releases

Institutional framework for regulation and development of Valuation Professionals

Press Release No. IBBI/PR/2019/28 (08/10/2019)

Invitation of public views / suggestions on the Institutional framework for regulation and development of Valuation Professionals The Ministry of Corporate Affairs, vide its Order dated 30th August 2019, has constituted a Committee of Experts to examine the need for an Institutional framework for regulation and development of valuation...

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Statement by Governor – Fourth Bi-monthly Monetary Policy Statement, 2019-20

Press Release: 2019-2020/865, Press Release : 2019-2020/866 (04/10/2019)

This post contains Statement by RBI Governor – Fourth Bi-monthly Monetary Policy Statement, 2019-20, Fourth Bi-monthly Monetary Policy Statement, 2019-20 Resolution of the Monetary Policy Committee (MPC) and Statement on Developmental and Regulatory Policies. Reserve Bank of India Statement by Governor – Fourth Bi-monthly Mone...

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RBI Enhances withdrawal limit for depositors of PMC Bank Ltd to Rs. 25000

Press Release: 2019-2020/861 (03/10/2019)

Reserve Bank Enhances withdrawal limit for depositors of Punjab and Maharashtra Cooperative Bank Ltd to Rs. 25,000 Reserve Bank of India Date : Oct 03, 2019 It may be recalled that the Reserve Bank of India had permitted the depositors of Punjab and Maharashtra Cooperative Bank Ltd to withdraw up to Rs. 10,000/- (Rupees Ten Thousand [&he...

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PMCB Bank Crisis: RBI increases cash withdrawal limit

Press Release : 792/2019-2020 (26/09/2019)

Vide modified Directive dated September 26, 2019, it has been decided to allow the depositors to withdraw a sum not exceeding ₹10,000/- (Rupees Ten Thousand Only) (including ₹1,000/- wherever already withdrawn) of the total balance held in every savings bank account or current account or any other deposit account by whatever name cal...

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DGGI detects fraudulent ITC refund claim of more than Rs. 400 crore

F. No. DGGI/AZU/Gr 'A'/12(4)/118/2019-20 (24/09/2019)

DIRECTORATE GENERAL OF GOODS & SERVICES TAX INTELLIGENCE, ZONAL UNIT, AHMEDABAD. 6th & 7th Floor, I-The Address, Near Sola Fly Over, Off : SG Highway, Ahmedabad – 380060 Phone: 079-26477011; Fax: 079-29600116. F. No. DGGI/AZU/Gr ‘A’/12(4)/118/2019-20 Dated: 24.09.2019 PRESS NOTE Acting on specific intelligence th...

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SEBI constitutes working group on ‘Social Stock Exchanges’

Press Release No. 21/2019-SEBI (19/09/2019)

Finance Minister as part of the Budget Speech for FY 2019-20 had proposed to initiate steps towards creating a social stock exchange, under the regulatory ambit of Securities and Exchange Board of India, for listing social enterprise and voluntary organizations....

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Report of Committee on Development of Housing Finance Securitisation Market

Press Release: 2019-2020/651 (09/09/2019)

The key recommendations of the Committee, guided by the broad perspective of enhancing efficiency and transparency of securitisation transactions, are as follows: setting up of a government sponsored intermediary, through the National Housing Bank, to enable market making and standard setting;...

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CBDT enters into 26APAs during current Financial Year

NA (04/09/2019)

CBDT has entered into 26 APAs in the first 5 months of the current financial year (April to August, 2019). With the signing of these APAs, the total number of APAs entered into by the CBDT as of now stand at 297, which includes 32 BAPAs....

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Clarification on applicability of TDS on cash withdrawals | Section 194N

NA (30/08/2019)

Section 194N inserted in the Act, is to come into effect from 1st September, 2019. Hence, any cash withdrawal prior to 1st September, 2019 will not be subjected to the TDS under section 194N of the Act. However, since the threshold of Rs. 1 crore is with respect to the previous year, calculation of amount of cash withdrawal for triggering...

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CBDT constitutes Cell for redressal of grievances related to Start-ups

F.No. 187/6/2019-ITA-I (30/08/2019)

In order to redress grievances and address various tax related issues in the cases of Start-ups, a Start-up Cell has been constituted by CBDT on 30.08.2019 with the following ex-officio members:...

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