Reserve Bank of India imposes monetary penalty on Punjab National Bank
RBI has imposed, by an order dated February 25, 2019, a monetary penalty of Rs 20 million (Rupees Twenty Million) on Punjab
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Bilateral Agreement for Exchange of “CbC Reports” signed between India and USA
Sub-section (4) of Section 286 of the Income-tax Act, 1961 requires that a constituent entity of an international group, resident in India,
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Department of Telecommunications | Deadline extended for testing and certification of mobile phone till August, 2019
Government of India has yet again extended the deadline to begin domestic testing and certification of telecom equipment amid industry concerns on
Continue readingSEBI (Delisting of Equity Shares) Regulations, 2015 –“Timelines for Counter Offer Process”
SEBI (Delisting of Equity Shares) Regulations, 2015 has been amended to allow promoter(s)/acquirer(s) to make “Counter offer”, in case price discovered through
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INDIA-US Trade Issues
The United States of America on 05-03-2019 gave a 60-day withdrawal notice to India on the Generalized System of Preferences (GSP) benefits
Continue readingRBI | Four PSU banks fined in respect of “deficient regulatory compliance”
As reported by ANI, Four Public Sector Banks have been fined by Reserve Bank Of India. The stated banks are Corporate Bank
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Government e Marketplace (GeM) and Competition Commission of India (CCI) Sign MoU for detection of Anti-Competitive Practices
Government e Marketplace (GeM) and Competition Commission of India (CCI) entered into a Memorandum of Understanding on 6th February 2019 to enable a
Continue readingSEBI constitutes ‘Research Advisory Committee (RAC)’
In order to strengthen its research function and enhance its linkage to policy making, SEBI has constituted a Research Advisory Committee headed
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Fair Trade Practices | Service charge despite GST
Charging of Service Tax is not valid. The Government in April 2017 issued guidelines on fair trade practices related to charging of
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MoCI | Ad-hoc National Committee of Domestic Council for Gems and Jewellery
Gems and Jewellery Domestic Council An Ad-hoc National Committee of Domestic Council for Gems and Jewellery consisting 14 Members representing various associations
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MoCI | FDI Policy on E-Commerce
In order to ensure due compliance of the FDI policy on e-Commerce, Press Note 2 (2018) has been issued. It puts in
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GST Revenue Collections for the month of January 2019 crosses Rupees One Lakh Crore Mark
The total gross GST revenue collected in the month of January, 2019 is Rs 1,02,503 crore of which CGST is Rs 17,763 crore,
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Justice B N Srikrishna’s report declares former CEO of ICICI Bank Chanda Kochhar guilty of violating Bank’s Code of Conduct
As reported by media, the board of ICICI Bank had appointed Retired Supreme Court Judge, Justice Srikrishna to investigate in regard to
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Requirement for obtaining PAN card under Section 139A of IT Act, 1961 eased for corporate assessees
In case of a company, an application for incorporation, allotment of Permanent Account Number (PAN) and allotment of Tax Deduction and Collection
Continue readingGuidelines for issuance of debt securities by Real Estate Investment Trusts and Infrastructure Investment Trusts
1. SEBI (Real Estate Investment Trusts) Regulations, 2014 (“REIT Regulations”) and SEBI (Infrastructure Investment Trusts) Regulations, 2014 (“InvIT Regulations”) were amended vide
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Removal of prohibition on export of all varieties of edible oils, except mustard oil
S.O.(E)- In exercise of the powers conferred by Section 3 of the Foreign Trade (Development & Regulation) Act, 1992 (No.22 of 1992)
Continue readingSEBI issues clarification on clubbing of investment limits of foreign Govt/foreign Govt related entities
SEBI has been monitoring investment by foreign Governments and their related entities viz. foreign central banks, sovereign wealth funds and foreign Governmental
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Steering Committee on Corporate Social Responsibility (CSR) constituted
The Ministry of Corporate Affairs vide Office Order dated 04.04.2018 announced the constitution of a Steering Committee on Corporate Social Responsibility (CSR)
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RBI prohibits dealing in Virtual Currencies by regulated entities
Reserve Bank has repeatedly through its public notices on December 24, 2013, February 01, 2017 and December 05, 2017, cautioned users, holders
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Process for registration as Registered Valuer with IBBI under the Companies (Registered Valuers and Valuation) Rules, 2017
With an objective to familiarise the eligible and desirous individuals and entities with the process of registration as a valuer with the
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