1. Extension of realisation period of export proceeds Presently value of the goods or software exports made by the exporters is required to be realized fully and repatriated to the country within a period of 9 months from the date of exports. In view of the disruption caused by the COVID-19 pande..
RBI announces auction of a 77-Day and 84-Day Government of India Cash Management Bill The Reserve Bank of India announces the auction of a 77-Day and 84-Day Government of India Cash Management Bill as per the following details. Auct..
In the view of the COVID-19 Outbreak. The RBI has announced various relaxations. It has been decided to reduce the policy Repo rate under the Liquidity Adjustment Facility (LAF) by 75 basis points from 5.15 percent to 4.40 percent with immediate effect. Further, consequent upon the widenin..
Anti-competitive activities found amongst Bengal Chemists and Druggists Association and certain pharmaceutical companies The Competition Commission of India (CCI) has passed an order finding Bengal Chemists and Druggists Association (‘BCDA’), its two District Committees i.e...
Yes Bank Ltd.: RBI announces Scheme of Reconstruction The Reserve Bank of India has today placed in public domain a draft scheme of reconstruction of the Yes Bank Ltd. The Reserve Bank invites suggestions and comments from members of public, including the banks' shareholde..
On the recommendation of the Reserve Bank of India, the Government of India has imposed a moratorium on the Yes Bank from the 5th of March 2020 to the 3rd of April 2020. Any account holder can not withdraw more than Rs 50000 from the Bank during the moratorium period irrespective of the number ..
The Supreme Court of India lifted ban on the cryptocurrency on the 4th of March 2020. The Reserve Bank of India had issued a circular in the year 2018 which barred banks in India from dealing in cryptocurrency. A plea challenging the RBI's circular was raised which had now been allowed by the Su..
The Institute of Chartered Accountants of India elected its new President and Vice President on the 12th of February for 2020-21. CA Atul Kumar Gupta has been elected as the new president of ICAI and CA Nihar Niranjan Jambusaria has been elected as the new Vice President for 2020-21. The new preside..
The details of total amount of funds that are locked up in cases at various quasi-judicial, appellate and judicial forums under Service Tax and Central Excise put together as on dated 31.12.2019 are as follows: Serial No. Forum Number A..
The Institute of Chartered Accountants of India (ICAI) recently got into an arrangement with Income Tax Appellate Tribunal (ITAT) at New Delhi whereby ICAI has extended the facility of using ICAI infrastructure for conducting hearings of ITAT at some of ICAI branches & offices across the co..