{"id":255114,"date":"2021-10-04T10:40:18","date_gmt":"2021-10-04T05:10:18","guid":{"rendered":"https:\/\/www.scconline.com\/blog\/?p=255114"},"modified":"2021-10-04T10:40:18","modified_gmt":"2021-10-04T05:10:18","slug":"deposit-insurance-and-credit-guarantee-corporation-general-amendment-regulations-2021","status":"publish","type":"post","link":"https:\/\/www.scconline.com\/blog\/post\/2021\/10\/04\/deposit-insurance-and-credit-guarantee-corporation-general-amendment-regulations-2021\/","title":{"rendered":"Deposit Insurance and Credit Guarantee Corporation General (Amendment) Regulations, 2021"},"content":{"rendered":"<p style=\"text-align: justify;\"><span id=\"page1R_mcid230\" class=\"markedContent\"><span dir=\"ltr\" role=\"presentation\">The <\/span><span dir=\"ltr\" role=\"presentation\">Board of <\/span><span dir=\"ltr\" role=\"presentation\">Deposit Insu<\/span><span dir=\"ltr\" role=\"presentation\">rance and Credit Guarantee Corporation, with the previous approval <\/span><span dir=\"ltr\" role=\"presentation\">of the Reserve Bank of <\/span> <span dir=\"ltr\" role=\"presentation\">India notified Deposit Insurance and Credit Guarantee Corporation General (Amendment) Regulations, 2021 to modify\u00a0 Deposit Insurance and Credit\u00a0 <\/span><span dir=\"ltr\" role=\"presentation\">Guarantee Corporation General Regulations, 1961<\/span><span dir=\"ltr\" role=\"presentation\">.<\/span><\/span><\/p>\n<p>&nbsp;<\/p>\n<ul>\n<li style=\"text-align: justify;\"><span id=\"page8R_mcid3\" class=\"markedContent\"><span dir=\"ltr\" role=\"presentation\">Inserted New Regulation 21A in Principal Regulations relating to submitting a form furnishing the list and certification by the insured bank:<br \/>\n<\/span><\/span><\/li>\n<\/ul>\n<p style=\"text-align: justify; padding-left: 40px;\"><span id=\"page8R_mcid5\" class=\"markedContent\"><br role=\"presentation\" \/><span dir=\"ltr\" role=\"presentation\">\u201c<\/span><\/span><span id=\"page8R_mcid6\" class=\"markedContent\"><span dir=\"ltr\" role=\"presentation\">21A<\/span><\/span><span id=\"page8R_mcid7\" class=\"markedContent\"><span dir=\"ltr\" role=\"presentation\">. <\/span><\/span><span id=\"page8R_mcid8\" class=\"markedContent\"> <span dir=\"ltr\" role=\"presentation\">(1) The insured bank, while furnishing the list and the certification <\/span><\/span><span id=\"page8R_mcid9\" class=\"markedContent\"> <span dir=\"ltr\" role=\"presentation\">under sub<\/span><\/span><span id=\"page8R_mcid10\" class=\"markedContent\"><span dir=\"ltr\" role=\"presentation\">&#8211;<\/span><\/span><span id=\"page8R_mcid11\" class=\"markedContent\"><span dir=\"ltr\" role=\"presentation\">section (2) of <\/span><\/span><span id=\"page8R_mcid12\" class=\"markedContent\"><span dir=\"ltr\" role=\"presentation\">section 18A, shall submit in such form as specified by the Corporation, the name and account details <\/span><\/span><span id=\"page8R_mcid13\" class=\"markedContent\"><span dir=\"ltr\" role=\"presentation\">of depositors who have affirmed their willingness to receive the insured amount in respect of their <\/span><\/span><span id=\"page8R_mcid14\" class=\"markedContent\"><span dir=\"ltr\" role=\"presentation\">deposit in the insured bank, a<\/span><\/span><span id=\"page8R_mcid15\" class=\"markedContent\"><span dir=\"ltr\" role=\"presentation\">nd that form shall also contain a declaration signed by the chief <\/span><\/span><span id=\"page8R_mcid16\" class=\"markedContent\"><span dir=\"ltr\" role=\"presentation\">executive officer\/the person in charge as to the correctness of the contents thereof along with a <\/span><\/span><span id=\"page8R_mcid17\" class=\"markedContent\"><span dir=\"ltr\" role=\"presentation\">confirmation as to availability of the declarations signed and submitted by the depositors, <\/span><\/span><span id=\"page8R_mcid18\" class=\"markedContent\"> <span dir=\"ltr\" role=\"presentation\">and an <\/span><\/span><span id=\"page8R_mcid19\" class=\"markedContent\"><span dir=\"ltr\" role=\"presentation\">undertaking to preserve and submit the said declarations to the Corporation, within such time and in <\/span><\/span><span id=\"page8R_mcid20\" class=\"markedContent\"><span dir=\"ltr\" role=\"presentation\">such manner a<\/span><\/span><span id=\"page8R_mcid21\" class=\"markedContent\"><span dir=\"ltr\" role=\"presentation\">s specified by the Corporation.<\/span><\/span><span id=\"page8R_mcid22\" class=\"markedContent\"> <\/span><span id=\"page8R_mcid23\" class=\"markedContent\"><\/span><span id=\"page8R_mcid24\" class=\"markedContent\"><\/span><\/p>\n<p style=\"text-align: justify; padding-left: 40px;\"><span id=\"page8R_mcid24\" class=\"markedContent\"><br role=\"presentation\" \/><span dir=\"ltr\" role=\"presentation\">(2) The insured bank shall obtain willingness of the depositors in such form as may be specified by <\/span><\/span><span id=\"page8R_mcid25\" class=\"markedContent\"><span dir=\"ltr\" role=\"presentation\">the<\/span><\/span><span id=\"page8R_mcid26\" class=\"markedContent\"> <\/span><span id=\"page8R_mcid27\" class=\"markedContent\"><span dir=\"ltr\" role=\"presentation\">Corporation, which shall necessarily include an express declaration of willingness signed by the <\/span><\/span><span id=\"page8R_mcid28\" class=\"markedContent\"><span dir=\"ltr\" role=\"presentation\">depositor to receive the insured amount along with a certification by the chief executive officer\/the <\/span><\/span><span id=\"page8R_mcid29\" class=\"markedContent\"><span dir=\"ltr\" role=\"presentation\">person in charge as to the correctness of the contents t<\/span><\/span><span id=\"page8R_mcid30\" class=\"markedContent\"><span dir=\"ltr\" role=\"presentation\">hereof, and the forms so obtained shall be <\/span><\/span><span id=\"page8R_mcid31\" class=\"markedContent\"><span dir=\"ltr\" role=\"presentation\">submitted to the Corporation within such time and in such manne<\/span><\/span><span id=\"page8R_mcid32\" class=\"markedContent\"><span dir=\"ltr\" role=\"presentation\">r specified by the Corporation.<\/span><\/span><span id=\"page8R_mcid33\" class=\"markedContent\"> <\/span><span id=\"page8R_mcid34\" class=\"markedContent\"><\/span><span id=\"page8R_mcid35\" class=\"markedContent\"><span dir=\"ltr\" role=\"presentation\">(3) Where the insured bank receives willingness of a depositor after submission of the Form under <\/span><\/span><span id=\"page8R_mcid36\" class=\"markedContent\"><span dir=\"ltr\" role=\"presentation\">sub<\/span><\/span><span id=\"page8R_mcid37\" class=\"markedContent\"><span dir=\"ltr\" role=\"presentation\">&#8211;<\/span><\/span><span id=\"page8R_mcid38\" class=\"markedContent\"><span dir=\"ltr\" role=\"presentation\">regulation (1) b<\/span><\/span><span id=\"page8R_mcid39\" class=\"markedContent\"><span dir=\"ltr\" role=\"presentation\">ut within the period specified in the first proviso to sub<\/span><\/span><span id=\"page8R_mcid40\" class=\"markedContent\"><span dir=\"ltr\" role=\"presentation\">&#8211;<\/span><\/span><span id=\"page8R_mcid41\" class=\"markedContent\"><span dir=\"ltr\" role=\"presentation\">section (4) of section <\/span><\/span><span id=\"page8R_mcid42\" class=\"markedContent\"><span dir=\"ltr\" role=\"presentation\">18A, it shall submit the details thereof in the same format specified under sub<\/span><\/span><span id=\"page8R_mcid43\" class=\"markedContent\"><span dir=\"ltr\" role=\"presentation\">&#8211;<\/span><\/span><span id=\"page8R_mcid44\" class=\"markedContent\"><span dir=\"ltr\" role=\"presentation\">regulation (1) within <\/span><\/span><span id=\"page8R_mcid45\" class=\"markedContent\"><span dir=\"ltr\" role=\"presentation\">such time and in such manner specified by the Corporation in the same fo<\/span><\/span><span id=\"page8R_mcid46\" class=\"markedContent\"><span dir=\"ltr\" role=\"presentation\">rmat specified under sub<\/span><\/span><span id=\"page8R_mcid47\" class=\"markedContent\"><span dir=\"ltr\" role=\"presentation\">&#8211;<\/span><\/span><span id=\"page8R_mcid48\" class=\"markedContent\"><span dir=\"ltr\" role=\"presentation\">regulation (1).<\/span><\/span><span id=\"page8R_mcid49\" class=\"markedContent\"> <\/span><span id=\"page8R_mcid50\" class=\"markedContent\"><\/span><span id=\"page8R_mcid51\" class=\"markedContent\"><span dir=\"ltr\" role=\"presentation\">(4) The claim settlement procedure adopted by the Corporation with the approval of the Board, for <\/span><\/span><span id=\"page8R_mcid52\" class=\"markedContent\"><span dir=\"ltr\" role=\"presentation\">verifying the genuineness and authenticity of the claim made by the liquidator under section 17 and <\/span><\/span><span id=\"page8R_mcid53\" class=\"markedContent\"><span dir=\"ltr\" role=\"presentation\">the transferee\/i<\/span><\/span><span id=\"page8R_mcid54\" class=\"markedContent\"><span dir=\"ltr\" role=\"presentation\">nsured bank under section 18 shall <\/span><\/span><span id=\"page8R_mcid55\" class=\"markedContent\"> <span dir=\"ltr\" role=\"presentation\">mutatis mutandis<\/span><\/span><span id=\"page8R_mcid56\" class=\"markedContent\"> <\/span><span id=\"page8R_mcid57\" class=\"markedContent\"> <span dir=\"ltr\" role=\"presentation\">be applied for verification of <\/span><\/span><span id=\"page8R_mcid58\" class=\"markedContent\"><span dir=\"ltr\" role=\"presentation\">the genuineness and authenticity of the <\/span><\/span><span id=\"page8R_mcid59\" class=\"markedContent\"><span dir=\"ltr\" role=\"presentation\">&#8211;<\/span><\/span><span id=\"page8R_mcid60\" class=\"markedContent\"> <\/span><\/p>\n<p style=\"text-align: justify; padding-left: 80px;\"><span id=\"page8R_mcid61\" class=\"markedContent\"><\/span><span id=\"page8R_mcid62\" class=\"markedContent\"><span dir=\"ltr\" role=\"presentation\">(a) claim made in the list furnished by the insured bank under sub<\/span><\/span><span id=\"page8R_mcid63\" class=\"markedContent\"><span dir=\"ltr\" role=\"presentation\">&#8211;<\/span><\/span><span id=\"page8R_mcid64\" class=\"markedContent\"><span dir=\"ltr\" role=\"presentation\">section (2) of section 18A;<\/span><\/span><span id=\"page8R_mcid65\" class=\"markedContent\"> <\/span><span id=\"page8R_mcid66\" class=\"markedContent\"><span dir=\"ltr\" role=\"presentation\">and<\/span><\/span><span id=\"page8R_mcid67\" class=\"markedContent\"> <\/span><\/p>\n<p style=\"text-align: justify; padding-left: 80px;\"><span id=\"page8R_mcid68\" class=\"markedContent\"><\/span><span id=\"page8R_mcid69\" class=\"markedContent\"><span dir=\"ltr\" role=\"presentation\">(b) the forms and declarations<\/span><\/span><span id=\"page8R_mcid70\" class=\"markedContent\"> <\/span><span id=\"page8R_mcid71\" class=\"markedContent\"> <span dir=\"ltr\" role=\"presentation\">referred to in sub<\/span><\/span><span id=\"page8R_mcid72\" class=\"markedContent\"><span dir=\"ltr\" role=\"presentation\">&#8211;<\/span><\/span><span id=\"page8R_mcid73\" class=\"markedContent\"><span dir=\"ltr\" role=\"presentation\">regulations (1), (2) and (3), for ascertaining the <\/span><\/span><span id=\"page8R_mcid74\" class=\"markedContent\"><span dir=\"ltr\" role=\"presentation\">willingness of the depositor.<\/span><\/span><span id=\"page8R_mcid75\" class=\"markedContent\"><span dir=\"ltr\" role=\"presentation\">\u201d<\/span><\/span><span id=\"page8R_mcid82\" class=\"markedContent\"><br role=\"presentation\" \/><\/span><\/p>\n<p>&nbsp;<\/p>\n<ul>\n<li>Inserted New Regulation 22A in the principal Regulations relating to deferring or varying the time limit for receipt of repayments under certain circumstances:<\/li>\n<\/ul>\n<p style=\"text-align: justify; padding-left: 40px;\"><span id=\"page8R_mcid82\" class=\"markedContent\"><span dir=\"ltr\" role=\"presentation\">\u201c<\/span><\/span><span id=\"page8R_mcid83\" class=\"markedContent\"><span dir=\"ltr\" role=\"presentation\">22A<\/span><\/span><span id=\"page8R_mcid84\" class=\"markedContent\"><span dir=\"ltr\" role=\"presentation\">. (1)<\/span><\/span><span id=\"page8R_mcid85\" class=\"markedContent\"> <\/span><span id=\"page8R_mcid86\" class=\"markedContent\"><span dir=\"ltr\" role=\"presentation\">Notwithstanding anything contained in Regulation <\/span><\/span><span id=\"page8R_mcid87\" class=\"markedContent\"><span dir=\"ltr\" role=\"presentation\">22, where the Corporation is satisfied <\/span><\/span><span id=\"page8R_mcid88\" class=\"markedContent\"><span dir=\"ltr\" role=\"presentation\">about the financial position of the insured bank or the transferee bank, as the case may be, and <\/span><\/span><span id=\"page8R_mcid89\" class=\"markedContent\"><span dir=\"ltr\" role=\"presentation\">keeping in view the expected time period that would be sufficient to generate<\/span><\/span><span id=\"page8R_mcid90\" class=\"markedContent\"> <\/span><span id=\"page8R_mcid91\" class=\"markedContent\"> <\/span><span id=\"page8R_mcid92\" class=\"markedContent\"> <span dir=\"ltr\" role=\"presentation\">cash flows, capital <\/span><\/span><span id=\"page8R_mcid93\" class=\"markedContent\"><span dir=\"ltr\" role=\"presentation\">infusion, liquidity,<\/span><\/span><span id=\"page8R_mcid94\" class=\"markedContent\"> <\/span><span id=\"page8R_mcid95\" class=\"markedContent\"> <span dir=\"ltr\" role=\"presentation\">business profits, sale of assets, restructuring of the insured bank, to pay the <\/span><\/span><span id=\"page8R_mcid96\" class=\"markedContent\"><span dir=\"ltr\" role=\"presentation\">stakeholders including uninsured depositors and other creditors, makes an assessment that the bank <\/span><\/span><span id=\"page8R_mcid97\" class=\"markedContent\"><span dir=\"ltr\" role=\"presentation\">is not capable of making repayment to the Corporation, then it may defer or <\/span><\/span><span id=\"page8R_mcid98\" class=\"markedContent\"> <span dir=\"ltr\" role=\"presentation\">vary the time limit for <\/span><\/span><span id=\"page8R_mcid99\" class=\"markedContent\"><span dir=\"ltr\" role=\"presentation\">receipt of repayments due to it for such period and upon such terms as the<\/span><\/span><span id=\"page8R_mcid100\" class=\"markedContent\"> <\/span><span id=\"page8R_mcid101\" class=\"markedContent\"> <span dir=\"ltr\" role=\"presentation\">Board may specifically <\/span><\/span><span id=\"page8R_mcid102\" class=\"markedContent\"><span dir=\"ltr\" role=\"presentation\">decide.<\/span><\/span><span id=\"page8R_mcid103\" class=\"markedContent\"> <\/span><span id=\"page8R_mcid104\" class=\"markedContent\"><\/span><span id=\"page8R_mcid105\" class=\"markedContent\"><span dir=\"ltr\" role=\"presentation\">(<\/span><\/span><span id=\"page8R_mcid106\" class=\"markedContent\"><span dir=\"ltr\" role=\"presentation\">2<\/span><\/span><span id=\"page8R_mcid107\" class=\"markedContent\"><span dir=\"ltr\" role=\"presentation\">)<\/span><\/span><span id=\"page8R_mcid108\" class=\"markedContent\"> <\/span><span id=\"page8R_mcid109\" class=\"markedContent\"> <span dir=\"ltr\" role=\"presentation\">The decision of the Board referred in sub<\/span><\/span><span id=\"page8R_mcid110\" class=\"markedContent\"><span dir=\"ltr\" role=\"presentation\">&#8211;<\/span><\/span><span id=\"page8R_mcid111\" class=\"markedContent\"><span dir=\"ltr\" role=\"presentation\">regulation (1) shall be binding on the bank and till <\/span><\/span><span id=\"page8R_mcid112\" class=\"markedContent\"><span dir=\"ltr\" role=\"presentation\">such time as repayment is m<\/span><\/span><span id=\"page8R_mcid113\" class=\"markedContent\"><span dir=\"ltr\" role=\"presentation\">ade to the Corporation, the insured bank or the transferee bank, as the <\/span><\/span><span id=\"page8R_mcid114\" class=\"markedContent\"><span dir=\"ltr\" role=\"presentation\">case may be, shall be prohibited from discharging the classes of liabilities, other than those specified <\/span><\/span><span id=\"page8R_mcid115\" class=\"markedContent\"><span dir=\"ltr\" role=\"presentation\">in terms <\/span><\/span><span id=\"page8R_mcid116\" class=\"markedContent\"><span dir=\"ltr\" role=\"presentation\">of the decision of the Board. <\/span><\/span><span id=\"page8R_mcid117\" class=\"markedContent\"> <\/span><span id=\"page8R_mcid118\" class=\"markedContent\"><\/span><span id=\"page8R_mcid119\" class=\"markedContent\"><span dir=\"ltr\" role=\"presentation\">(3)<\/span><\/span><span id=\"page8R_mcid120\" class=\"markedContent\"> <\/span><span id=\"page8R_mcid121\" class=\"markedContent\"><span dir=\"ltr\" role=\"presentation\">The Corporation may, for the purpo<\/span><\/span><span id=\"page8R_mcid122\" class=\"markedContent\"><span dir=\"ltr\" role=\"presentation\">se of assessment of the financial position and the capability <\/span><\/span><span id=\"page8R_mcid123\" class=\"markedContent\"><span dir=\"ltr\" role=\"presentation\">of the bank to make repayment, call upon the bank, from time to time or periodically, to submit such <\/span><\/span><span id=\"page8R_mcid124\" class=\"markedContent\"><span dir=\"ltr\" role=\"presentation\">records or statements and furnish such information as the Corporation considers it necessary <\/span><\/span><span id=\"page8R_mcid125\" class=\"markedContent\"> <span dir=\"ltr\" role=\"presentation\">and <\/span><\/span><span id=\"page8R_mcid126\" class=\"markedContent\"><span dir=\"ltr\" role=\"presentation\">expedient and the bank shall comply with the same.<\/span><\/span><span id=\"page8R_mcid127\" class=\"markedContent\"><span dir=\"ltr\" role=\"presentation\">\u201d<\/span><\/span><span id=\"page8R_mcid128\" class=\"markedContent\"><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Board of Deposit Insurance and Credit Guarantee Corporation, with the previous approval of the Reserve Bank of India notified Deposit Insurance <\/p>\n","protected":false},"author":8808,"featured_media":154904,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[4,15],"tags":[47368,10091,47367,47369,7361,2732],"class_list":["post-255114","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-legislationupdates","category-rules_regulations","tag-board-of-deposit-insurance-and-credit-guarantee-corporation","tag-corporation","tag-credit-insurance","tag-insured-bank","tag-payment","tag-Reserve_Bank_of_India"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.4 (Yoast SEO v26.4) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Deposit Insurance and Credit Guarantee Corporation General (Amendment) Regulations, 2021 | SCC Times<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, 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(DICGC) increases &#8212; insurance coverage for depositors in all insured banks to Rs 5 lakh","author":"Bhumika Indulia","date":"February 10, 2020","format":false,"excerpt":"With a view to providing a greater measure of protection to depositors in banks the Deposit Insurance and Credit Guarantee Corporation, a wholly-owned subsidiary of the Reserve Bank of India, has raised the limit of insurance cover for depositors in insured banks from the present level of Rs 1 lakh\u2026","rel":"","context":"In &quot;Business News&quot;","block_context":{"text":"Business News","link":"https:\/\/www.scconline.com\/blog\/post\/category\/news\/business_news\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/02\/RBI-3.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/02\/RBI-3.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/02\/RBI-3.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/02\/RBI-3.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/02\/RBI-3.jpg?resize=1050%2C600&ssl=1 3x"},"classes":[]},{"id":251851,"url":"https:\/\/www.scconline.com\/blog\/post\/2021\/07\/28\/cabinet-approves-amendments-to-deposit-insurance-credit-guarantee-corporation-act\/","url_meta":{"origin":255114,"position":1},"title":"Cabinet approves amendments to Deposit Insurance &#038; Credit Guarantee Corporation Act","author":"Bhumika Indulia","date":"July 28, 2021","format":false,"excerpt":"On July 28, 2021, Cabinet approves amendments to Deposit Insurance & Credit Guarantee Corporation Act vide Deposit Insurance & Credit Guarantee Corporation Act, Bill 2021 in order to provide account holders access to up to Rs 5 lakh funds within 90 days of a bank coming under moratorium. Source: Press\u2026","rel":"","context":"In &quot;Cabinet Decisions&quot;","block_context":{"text":"Cabinet Decisions","link":"https:\/\/www.scconline.com\/blog\/post\/category\/legislationupdates\/cabinet_decisions\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2015\/11\/Press-Information-Bureau.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2015\/11\/Press-Information-Bureau.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2015\/11\/Press-Information-Bureau.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2015\/11\/Press-Information-Bureau.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2015\/11\/Press-Information-Bureau.jpg?resize=1050%2C600&ssl=1 3x"},"classes":[]},{"id":136691,"url":"https:\/\/www.scconline.com\/blog\/post\/2017\/06\/16\/cabinet-approves-proposal-to-introduce-the-financial-resolution-and-deposit-insurance-bill-2017\/","url_meta":{"origin":255114,"position":2},"title":"Cabinet approves proposal to introduce the Financial Resolution and Deposit Insurance Bill 2017","author":"Saba","date":"June 16, 2017","format":false,"excerpt":"The Union Cabinet has approved the proposal to introduce a Financial Resolution and Deposit Insurance Bill, 2017. The Bill would provide for a comprehensive resolution framework for specified financial sector entities to deal with bankruptcy situation in banks, insurance companies and financial sector entities. The Financial Resolution and Deposit Insurance,\u2026","rel":"","context":"In &quot;Cabinet Decisions&quot;","block_context":{"text":"Cabinet Decisions","link":"https:\/\/www.scconline.com\/blog\/post\/category\/legislationupdates\/cabinet_decisions\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2015\/12\/DSC_4762-e1474523869607.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2015\/12\/DSC_4762-e1474523869607.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2015\/12\/DSC_4762-e1474523869607.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2015\/12\/DSC_4762-e1474523869607.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2015\/12\/DSC_4762-e1474523869607.jpg?resize=1050%2C600&ssl=1 3x"},"classes":[]},{"id":268452,"url":"https:\/\/www.scconline.com\/blog\/post\/2022\/06\/15\/whether-the-credit-availed-by-bank-on-service-tax-paid-for-insuring-deposits-eligible-for-cenvat-credit-or-not-cestat-answers\/","url_meta":{"origin":255114,"position":3},"title":"Whether the credit availed by bank on service tax paid for insuring deposits, eligible for CENVAT Credit or not? CESTAT answers","author":"Editor","date":"June 15, 2022","format":false,"excerpt":"Customs, Excise and Services Tax Appellate Tribunal (CESTAT): The coram of Sulekha Beevi C.S. (Judicial Member) and P. Anjani Kumar (Technical Member) allowed an appeal which was filed aggrieved by the order of the original authority confirming the demand interest and imposed penalty, including a separate penalty on the Former\u2026","rel":"","context":"In &quot;Case Briefs&quot;","block_context":{"text":"Case Briefs","link":"https:\/\/www.scconline.com\/blog\/post\/category\/casebriefs\/"},"img":{"alt_text":"Customs, Excise and Services Tax Appellate Tribunal","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2022\/02\/CESTATNew-Logo.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2022\/02\/CESTATNew-Logo.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2022\/02\/CESTATNew-Logo.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2022\/02\/CESTATNew-Logo.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2022\/02\/CESTATNew-Logo.jpg?resize=1050%2C600&ssl=1 3x"},"classes":[]},{"id":242096,"url":"https:\/\/www.scconline.com\/blog\/post\/2021\/01\/11\/cestat-whether-cenvat-credit-of-service-tax-paid-on-the-deposit-insurance-service-provided-by-the-dicgc-available-tribunal-explains-while-allowing-appeal\/","url_meta":{"origin":255114,"position":4},"title":"CESTAT | Whether Cenvat credit of service tax paid on the deposit insurance service provided by the DICGC available; Tribunal explains while allowing appeal","author":"Editor","date":"January 11, 2021","format":false,"excerpt":"Customs, Excise and Services Tax Appellate Tribunal (CESTAT): Ajay Sharma (Judicial Member) allowed an appeal which was filed challenging the order passed by the Commissioner by which he had rejected the appeal filed by the Appellants while upholding the Order-in-Original. The issue involved was whether the Appellant was eligible to\u2026","rel":"","context":"In &quot;Case Briefs&quot;","block_context":{"text":"Case Briefs","link":"https:\/\/www.scconline.com\/blog\/post\/category\/casebriefs\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2018\/09\/CESTAT-Taxscan.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2018\/09\/CESTAT-Taxscan.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2018\/09\/CESTAT-Taxscan.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2018\/09\/CESTAT-Taxscan.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2018\/09\/CESTAT-Taxscan.jpg?resize=1050%2C600&ssl=1 3x"},"classes":[]},{"id":211220,"url":"https:\/\/www.scconline.com\/blog\/post\/2019\/03\/02\/life-insurance-corporation-of-india-recruitment-of-apprentice-development-officers-amendment-regulations-2019\/","url_meta":{"origin":255114,"position":5},"title":"Life Insurance Corporation of India (Recruitment of Apprentice Development Officers) (Amendment) Regulations, 2019","author":"Bhumika Indulia","date":"March 2, 2019","format":false,"excerpt":"F.No.S-11011\/17\/2017-Ins.I \u2014In exercise of the powers conferred by Section 49 of the Life Insurance Corporation Act, 1956 (31 of 1956) and with the previous approval of the Central Government, the Life Insurance Corporation of India hereby makes the following regulations further to amend the Life Insurance Corporation of India (Recruitment\u2026","rel":"","context":"In &quot;Legislation Updates&quot;","block_context":{"text":"Legislation Updates","link":"https:\/\/www.scconline.com\/blog\/post\/category\/legislationupdates\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2019\/03\/1200px-LIC_Logo.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2019\/03\/1200px-LIC_Logo.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2019\/03\/1200px-LIC_Logo.png?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2019\/03\/1200px-LIC_Logo.png?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2019\/03\/1200px-LIC_Logo.png?resize=1050%2C600&ssl=1 3x"},"classes":[]}],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/posts\/255114","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/users\/8808"}],"replies":[{"embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/comments?post=255114"}],"version-history":[{"count":0,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/posts\/255114\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/media\/154904"}],"wp:attachment":[{"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/media?parent=255114"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/categories?post=255114"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/tags?post=255114"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}