The Income Tax Department carried out search and seizure operations on 13.12.2020 in the case of a Chandigarh based listed pharmaceutical company and its associated concerns. A total of 11 premises were covered spanning Chandigarh, Delhi and Mumbai.
Securities and Exchange Board of India Press Releases No. 61/2020 SEBI Board Meeting The SEBI Board met in Mumbai today. The out of station Members joined the meeting through video conferencing. The Board, inter-alia, took the following decisions: I. Amendments to SEBI (Mutual Funds) Regulations, 1996 SEBI, in consultation with various stakeholders, undertook a detailed […]
Reserve Bank announces opening of Second Cohort under the Regulatory Sandbox Post announcement of commencement of Test Phase under the First Cohort on Retail Payments vide Press Release dated November 17, 2020, the Reserve Bank now announces opening of Second Cohort under the Regulatory Sandbox (RS) with ‘Cross Border Payments,’ as its theme.
Quality Council of India (QCI) at the behest of the FSSAI has come out with a Scheme for approval of Hygiene Rating Audit Agencies to scale up Hygiene Rating by increasing the number of recognised Hygiene Rating Audit Agencies in the country. The detail of the scheme is available on QCI’s website.
RBI Working Paper No. 14/2020: Asset Quality and Credit Channel of Monetary Policy Transmission in India: Some Evidence from Bank-level Data
RBI Working Paper No. 13/2020: Price Discrimination in Over-the-Counter Currency Derivatives provides empirical evidence on the presence of considerable price discrimination in the Indian over-the-counter (OTC) currency derivatives market. Clients transacting with a single dealer counterparty paid an average markup of 18 paise, which falls to 9 paise for clients transacting with two dealers, and close to zero for clients transacting with ten or more dealers.
7th Instalment of Rs.6,000 crore released to the States as back to back loan to meet the GST compensation shortfall. A total amount of Rs.42,000 crore released so far to all States and UTs with legislation. This is in addition to additional borrowing permission of Rs.1,06,830 granted to the States.
Central Goods and Services Tax, Mumbai West, Investigation team has announced the arrest of Mr. Chandraprakash Pandey, Partner of M/s. C.P. Pandey & Associates. He was arrested on account of indulging in circular trading by way of issuing fake invoices, availing and passing on fraudulent Input Tax Credit (ITC) involving GST of Rs 10.63 Crores (approx.) on turnover of Rs. 59.10crores (approx.)
Shri Piyush Goyal urged all business leaders & intellectuals associated with FICCI to talk about the benefits of the farm laws, as these laws are for the benefit of all the farmers across the country.
To prescribe a set of compliance standards for index providers in order to ensure quality and integrity of the indices administered, maintained or calculated by the index providers, a consultation paper has been issued by SEBI inviting public comments.
