Real Time Gross Settlement (RTGS) System – Increase in operating hours
At present, the RTGS system is available for customer transactions from 8:00 am to 6:00 pm and for inter-bank transactions from 8:00
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RBI | Processing of e-mandate on cards for recurring transactions
The Reserve Bank of India (RBI) has, over the past decade, put in place various safety and security measures for card payments,
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Foreign Exchange Management (Deposit) (Amendment) Regulations, 2019 – Acceptance of Deposits by issue of Commercial Papers
Sub-regulation (3) of Regulation 6 of the Foreign Exchange Management (Deposit) Regulations, 2016 , in terms of which a Company may accept
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Central Govt. notifies — Investor Education and Protection Fund Authority (Accounting, Audit, Transfer and Refund)Second Amendment Rules, 2019
G.S.R. 571(E).—In exercise of the powers conferred under sub-sections (1), (2), (3), (4), (8), (9), (10) and (11) of Section 125 and
Continue readingMonetary limits for filing of appeals by Income Tax Department further enhanced by CBDT
There is a substantial pendency of appeals of the Income Tax Department before various appellate fora. The CBDT is aware of the
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Govt. removes Debenture Redemption Reserve requirement for Listed Companies, NBFCs and HFCs
The Ministry of Corporate Affairs has amended the Companies (Share Capital & Debentures) Rules by removing Debenture Redemption Reserve requirement for Listed
Continue readingCBDT simplifies the process of assessment in respect of Startups
The Finance Ministry has simplified the process of assessment in the case of Startup entities. In cases where scrutiny assessments of Startup
Continue readingUsage of ATMs – Free ATM transactions – Clarifications
Clarification issued by Reserve Bank of India It has come to our notice that transactions that have failed due to technical reasons,
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Companies (Share Capital and Debentures) Amendment Rules, 2019
G.S.R. 574(E)—In exercise of the powers conferred by sub-sections (1) and (2) of Section 469 of the Companies Act, 2013 (18 of
Continue readingCentral Govt. constitutes — Advisory Committee– in exercise of powers conferred by S. 5 of Child and Adolescent Labour (Prohibition and Regulation) Act, 1986
S.O. 2948(E)— In exercise of the powers conferred by Section 5 of the Child and Adolescent Labour (Prohibition and Regulation) Act, 1986
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MCA amends provisions related to Differential Voting Rights under Companies Act
The Ministry of Corporate Affairs has amended the provisions relating to issue of shares with Differential Voting Rights (DVRs) provisions under the
Continue readingFour New Products get Geographical Indication Tag
Geographical Indication (GI) under the Department for Promotion of Industry and Internal Trade has recently registered 4 new GIs. PalaniPanchamirtham from Palani
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Transfer of Regulation of Housing Finance Companies (HFCs) to Reserve Bank of India
The Finance (No.2) Act, 2019 (23 of 2019) has amended the National Housing Bank Act, 1987 conferring certain powers for regulation of
Continue readingCBDT takes steps to ensure transparency in Tax Administration by bringing in concept of DIN
With a view to bringing greater transparency in the functioning of the tax-administration and improvement in service delivery, almost all notices and
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The Competition Commission of India (Procedure in regard to the transaction of business relating to combinations) Amendment Regulations, 2019
F.No. CCI/CD/Amend/Comb. Regl./2019.—In exercise of the powers conferred by Section 64 of the Competition Act, 2002 (12 of 2003), the Competition Commission
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MeitY | Aadhaar necessary for availing benefit of fee reimbursement from GoI under Manpower Development Scheme [Read Notification]
S.O. 2903(E).—Whereas, the use of Aadhaar as identity document for delivery of services or benefits or subsidies simplifies the Government delivery processes,
Continue readingParliament received President’s assent for — Public Premises (Eviction of Unauthorised Occupants) Amendment Bill, 2019
Parliament received the assent of the President on 09-08-2019 for Public Premises (Eviction of Unauthorised Occupants) Amendment Bill, 2019. Public Premises (Eviction
Continue readingIncome Tax Department detects Benami business of running of petrol outlets in Meghalaya
In a swift and coordinated action on Friday, 2nd August 2019, the Investigation Wing of Income Tax Department, NER carried out searches
Continue readingPresident gave its assent to — The Unlawful Activities (Prevention) Amendment Bill, 2019
Parliament receives President’s assent for Unlawful Activities (Prevention) Amendment Bill, 2019 on 08-08-2019. The Bill will amend the Unlawful Activities (Prevention) Act,
Continue readingPresident gave assent to — National Medical Commission Bill, 2019
Parliament received the assent of the President on 08-08-2019 for National Medical Commission Act, 2019. This Act is aimed towards the following
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