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Customer Due Diligence for transactions in Virtual Currencies (VC)

May 31, 2021 All Commercial and Co-operative Banks / Payments Banks/ Small Finance Banks / NBFCs / Payment System Providers Madam / Dear Sir, It has come to our attention…

Investment by Foreign Portfolio Investors (FPI) in Government Securities: Medium Term Framework (MTF)

May 31, 2021 To,All Authorized Persons Madam / Sir Attention of Authorised Dealer Category-I (AD Category-I) banks is invited to Schedule 1 to the Foreign Exchange Management (Debt Instruments) Regulations,…

Formation of new district in the State of Karnataka – Assignment of Lead Bank Responsibility

May 27, 2021 The Chairman / Managing Director & Chief Executive OfficerAll Lead Banks Dear Sir/Madam, The Government of Karnataka vide Gazette Notification No.RD/04/LRD/2019 dated February 08, 2021 had notified…

Income- tax (16th Amendment) Rules, 2021.

G.S.R. 338 (E).— In exercise of the powers conferred by section 50B read with section 295 of the Income-tax Act, 1961 (43 of 1961), the Central Board of Direct Taxes…

Clarification regarding the limitation time for filing of appeals before the CIT(Appeals) under the Income-tax Act,1961 (the Act)

New Delhi, Dated 25th May, 2021 1. The Central Board of Direct Taxes has issued Circular NO. 8 of 2021 on 30th April 2021 providing various relaxations till 31 st…

Procedure for exercise of option under sub-section (1) of section 245M and intimation thereof by furnishing and upload of Form No. 34BB under sub-rule (1) of Rule 44DA of Income-Tax Rules, 1962

New Delhi, the 24th May,2021 In exercise 01 the powers conferred by the Department 01 Revenue, Ministry 01 Finance, under sub-rule (3) and sub-rule (4) 01 Rule 44DA 01 the…

Amalgamation of District Central Co-operative Banks (DCCBs) with the State Cooperative Bank (StCB) – Guidelines

May 24, 2021 All State and Central Cooperative Banks Dear Sir/ Madam, The Banking Regulation (Amendment) Act, 2020 (39 of 2020) has been notified for the State Co-operative Banks (StCBs)…

Relaxation in timeline for compliance with various payment system requirements.

May 21, 2021 The Chairman / Managing Director / Chief Executive OfficerAll Scheduled Commercial Banks, including Regional Rural Banks /Urban Co-operative Banks / State Co-operative Banks /District Central Co-operative Banks…

Clarification on offsetting the excess CSR spent for FY 2019-20

Dated: 20th May 2021 To,All concerned stakeholders. Madam/ Sir, Keeping in view the spread of COVID-19 in India, an appeal dated 30.03.2020 was made to MDs/CEOs of top 1000 companies…

Prepaid Payment Instruments (PPIs) –(i) Mandating Interoperability;(ii) Increasing the Limit to ₹2 lakh for Full-KYC PPIs; and (iii) Permitting Cash Withdrawal from Full-KYC PPIs of Non-Bank PPI Issuers

May 19, 2021 All Bank and Non-Bank Prepaid Payment Instrument Issuers,System Providers and System Participants Madam / Dear Sir, This has reference to paragraphs 10 and 11 of the Statement…