The Government of India has taken a historic decision to reduce the rate of contribution under the ESI Act from 6.5% to 4%(employers’ contribution being reduced from 4.75% to 3.25% and employees’ contribution being reduced from 1.75% to 0.75%). Reduced rates will be effective from&n..
Union Minister for Finance & Corporate Affairs Smt. Nirmala Sitharaman attends the G20 Finance Ministers and Central Bank Governors meeting and associated events and meetings during June 8-9, 2019 at Fukuoka, Japan
Smt Sitharaman flags serious issues related to taxation and digital economy co..
Review of Charges for RBI-operated Payment Systems
The Reserve Bank levies minimum charges on banks for transactions routed through its Real Time Gross Settlement System (RTGS) meant for large-value instantaneous fund transfers and the National Electronic Funds Transfer (NEFT) System for other ..
June 06, 2019
The Chairperson / CEOs of all Scheduled and Non Scheduled Banks
Dear Sir / Madam,
Change in Bank Rate
Please refer to our circular DBR.No.Ret.BC.33/12.01.001/2018-19 dated April 04, 2019 on the captioned subject..
In order to ensure smooth and flawless compliance of Copyright Act in the light of technological advancement in digital era and to bring them in parity with other relevant legislations, the Department for Promotion of Industry and Internal Trade, Government of India has now proposed to introduce the..
Enforcement action in respect of statutory auditors of commercial banks
RBI vide its Press Release dated June 29, 2018 had put in place an enforcement action framework in respect of statutory auditors for the lapses in the statutory audit of commercial banks. In terms of the aforesaid e..
My dear Professional Colleagues,
Bound by inherent integrity and transparency, and ICAI’s Code of Ethics, auditors of our country have been imparting credibility to the financial statements. ICAI inspires them to deliver quality in their profile of performing audit, review or assurance..
UDIN already implemented
As you are already aware that the full time practicing Chartered Accountants have to mandatory generate UDIN for the documents certified/ issued by them. As per the mandate schedule of ICAI, UDIN was made mandatory for all certificates from 1st Feb. 2019 onwards and for a..
The Reserve Bank of India will shortly issue ₹ 20 denomination banknotes in the Mahatma Gandhi (New) Series, bearing signature of Shri Shaktikanta Das, Governor, Reserve Bank of India. The new denomination has motif of Ellora Caves on the reverse, depicting the country's cultural heritage. The b..
Ref. CEPD. PRS. No.4535/13.01.004/2018-19
April 26, 2019
The Reserve Bank of India (RBI) had vide Notification Ref.CEPD.PRS.No.3590/13.01.004/2017-18 dated February 23, 2018, implemented the Ombudsman Scheme for Non-Banking Financial Companies (NBFCs) as defined in Section 45-I(f) of the ..