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Posted Date : 31-Aug-2015 , 08:45:32 am | Posted By CASANSAAR
We are so used to hearing about the distressed nature of India's public sector banks, which were just given (yet another) brand new government plan to revive them, we often forget about the performance of the biggest one: the Reserve Bank of India. After all, RBI too is a bank with paid-up capit...
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Posted Date : 29-Aug-2015 , 09:10:53 am | Posted By CASANSAAR
With government declaring the second and fourth Saturdays as public holiday for banks from September 1, RBI today said that all money market segments will continue to remain open on all Saturdays. The forex market and government securities markets, along with all OTC derivative market...
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Posted Date : 29-Aug-2015 , 09:08:55 am | Posted By CASANSAAR
Representatives of the Institute of Chartered Accountants of India (ICAI), who gave a presentation to the Finance Standing Committee of Parliament here on Thursday, have suggested important changes in the Benami Transactions (Prohibition) Amendment Bill, 2015. The ICAI representatives told the ...
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Posted Date : 29-Aug-2015 , 09:02:48 am | Posted By CASANSAAR
The Income Tax Department has set a target of collecting Rs 82,000 crore from the Karnataka-Goa region this financial year. Disclosing this, Income Tax Additional Commissioner Jayaram Raipura on Friday said the department had collected Rs 70,000 crore in the last fiscal. It is “tryi...
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Posted Date : 29-Aug-2015 , 08:46:04 am | Posted By CASANSAAR
The Reserve Bank of India (RBI) has given the go-ahead for all banks—public, private, foreign and co-operative—to keep their branches closed on second and fourth Saturdays of the month, effective from 1 September. In exchange for the perk, bank branches will have to be open for full...
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Posted Date : 28-Aug-2015 , 08:17:48 am | Posted By CASANSAAR
The Reserve Bank of India (RBI) on Thursday warned the Government that any delay in reform of the banking system in the country would lead to greater risk in the economy. “The current stress in the banking system suggests that the real economy will not wait for the banking system, and a slow p...
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Posted Date : 27-Aug-2015 , 08:24:12 am | Posted By CASANSAAR
About a month ago, the Reserve Bank of India (RBI) received reports on forensic investigations it had ordered into the bad debt at two companies. The RBI has never in the past hired private investigators or forensic experts to carry out such inspections — in these cases, to look for a...
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Posted Date : 27-Aug-2015 , 08:09:50 am | Posted By CASANSAAR
The Income Tax Department has released a half-page advertisement in Wednesday's newspapers asking people to declare their undisclosed assets abroad on or before September 30, 2015. The advertisement, which has an image of a huge tree trunk with the palms of two hands around it has one messa...
Continue Reading... Category : Income Tax | Comments : 0 | Hits : 539
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Posted Date : 27-Aug-2015 , 08:04:39 am | Posted By CASANSAAR
The government will move an amendment Bill inParliament to make India a favourable place to settle disputes through arbitration. The Cabinet on Wednesday cleared the Arbitration and Conciliation (Amendment) Bill, 2015 for this purpose, amid companies such as&nbs...
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Posted Date : 27-Aug-2015 , 08:00:50 am | Posted By CASANSAAR
The Union Cabinet chaired by the Prime Minister, Shri Narendra Modi, today gave its approval for the extension of the term of the 7th Central Pay Commission by four months up to 31.12.2015. Background: The 7th Central Pay Commission was constituted by the Central Government on 28.2.2014....
Continue Reading... Category : General | Comments : 0 | Hits : 532
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Posted Date : 26-Aug-2015 , 08:09:12 am | Posted By CASANSAAR
Looking to turn the Chinese stocks crisis to its advantage, the government is preparing to bat for a special session of Parliament to pass the GST bill, arguing that this will boost India's ability to buffer the Indian economy. The Cabinet is expected to take a call whether to convene a...
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Posted Date : 26-Aug-2015 , 08:04:12 am | Posted By CASANSAAR
REVISED ANNOUNCEMENT- MECHANISM TO MONITOR TENDERING 24th August, 2015 The Council at its 345th meeting held from 14th to 16th August, 2015 considered the concerns raised by members on the decision of the Council with regard to mechanism to monitor tendering hosted on the website of the ...
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Posted Date : 25-Aug-2015 , 07:04:47 am | Posted By CASANSAAR
The Central Board of Direct Taxes (CBDT) is “ready” to address the problem of “over-pitched” assessments by the officers of income tax department, its Chairperson Anita Kapur has said. At the same time, the CBDT also expects enterprises and their consultants to contribut...
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Posted Date : 24-Aug-2015 , 09:39:27 pm | Posted By CASANSAAR
After a lull in asset sales markets in the past few quarters wherein state-run banks failed to dispose of their troubled loans, more such banks are planning to tap the ARCs this quarter. City-based Union Bank of India, Karnataka-based Corporation Bank and Bank of Maharashtra today said they are p...
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Posted Date : 24-Aug-2015 , 09:32:13 pm | Posted By CASANSAAR
The benchmark Sensex on Monday crashed 1,624.51 points — its biggest single-day fall — ending below 26,000 on heavy outflows as the rupee sank 82 paise to a fresh two-year low of 66.65. The index ended the day 5.94 per cent down at 25,741.56 points as jittery investors sold off shar...
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Posted Date : 24-Aug-2015 , 08:29:11 am | Posted By CASANSAAR
A Reserve Bank of India (RBI) panel has recommended conversion of Urban Cooperative Banks (UCBs), which have a revenue of more than Rs 20,000 crore into regular banks. The recommendation has been made with the objective of allowing UCBs to grow and proliferate further for financial inclusion. ...
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Posted Date : 23-Aug-2015 , 06:59:19 pm | Posted By CASANSAAR
Bandhan Bank on Sunday began operations as a full-fledged bank with 501 branches and 1.43 crore accounts across the country, becoming the newest member of the estimated USD two-trillion Indian banking industry. Bandhan said it is starting operations with 1.43 crore accounts, around Rs.10,500 cr...
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Posted Date : 23-Aug-2015 , 12:40:50 pm | Posted By CASANSAAR
India is poised to grow into a $ 3 trillion economy in future, and it will have tremendous opportunities for people who can contribute to development, said Institute of Chartered Accountants of India (ICAI) former President and Padmasri award winner T.N. Manoharan. He asserted that chartered ac...
Continue Reading... Category : CA | Comments : 0 | Hits : 561
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Posted Date : 21-Aug-2015 , 08:18:58 am | Posted By CASANSAAR
As Indian firms transition towards a new system of auditor rotation, which comes into effect in April 2017, companies have started to plan ahead to ensure a smooth transition. Companies will have to appoint a new statutory auditor if the current auditing firm has been associated with the compan...
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Posted Date : 21-Aug-2015 , 08:15:39 am | Posted By CASANSAAR
Bringing cheers to lakhs of bank employees, the government has accepted the long-pending demand of workers to declare second and fourth Saturdays holidays, with effect from September 1. "The notification regarding Saturday off has come. It is effective from September 1," All India...
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Posted Date : 21-Aug-2015 , 08:11:15 am | Posted By CASANSAAR
The tax department will hold an eight-day special camp in the national capital to help taxpayers file their Income Tax Returns (ITRs). The camp will be held at the civic centre I-T building, near Connaught Place, and will be inaugurated on August 24 by CBDT Chairperson Anita Kapur. ...
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Posted Date : 21-Aug-2015 , 08:08:10 am | Posted By CASANSAAR
Chiefs of all public sector banks, other than five large ones, will come from within the talent pool of state-owned lenders, according to the new selection guidelines issued by the government on Thursday. The selection process will start next month, the Finance Ministry said in a statement. Ac...
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Posted Date : 20-Aug-2015 , 09:53:07 pm | Posted By CASANSAAR
The Securities and Exchange Board of India, or Sebi, on Thursday, barred 59 entities from accessing the capital markets for manipulatively trading in derivatives of thinly traded stocks on BSE to generate fictitious profits and losses, allegedly with the aim of evading tax. While passing an int...
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Posted Date : 20-Aug-2015 , 09:44:36 pm | Posted By CASANSAAR
Government is trying to keep proposed GST rate as reasonable as possible to ensure success of the new indirect tax regime and better growth of the economy. Revenue Secretary Shaktikanta Das said this at a function in New Delhi today. He also said the effort of the government is to ensure a ...
Continue Reading... Category : GST | Comments : 0 | Hits : 418
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Posted Date : 20-Aug-2015 , 09:41:56 pm | Posted By CASANSAAR
The Union Cabinet, chaired by the Prime Minister Shri Narendra Modi, has approved the signing and ratification of the agreement between India and Seychelles for exchange of information with respect to taxes. The Agreement will stimulate the flow of exchange of information between India and ...
Continue Reading... Category : International Taxation | Comments : 0 | Hits : 320
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Posted Date : 20-Aug-2015 , 08:48:32 am | Posted By CASANSAAR
ICAI has released the draft list of Voters for ICAI Elections 2015. Members can check there Eligibility of Vote & Place of Polling at www.casansaar.com/icaielection The draft List of Voters contains the professional address of the voters, his membership number and seri...
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Posted Date : 20-Aug-2015 , 08:16:32 am | Posted By CASANSAAR
Invitation for empanelment as Examiners for CA EXAMS - ICAI 18th August 2015 Applications are invited from eligible members of the Institute and other professionals including academicians of reputed educational institutions, tax and legal practitioners etc., hav...
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Posted Date : 20-Aug-2015 , 08:10:29 am | Posted By CASANSAAR
Market regulator Securities and Exchange Board of India (Sebi) has rejected brokers' request to set a floor to brokerage rates. Brokers are worried that cut-throat competition along with the entry of several discount brokerages in the market might be pushing down broking rates to unsustainable l...
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Posted Date : 19-Aug-2015 , 11:12:38 pm | Posted By CASANSAAR
The Reserve Bank of India (RBI) on Wednesday granted in-principle approval to 11 payment banks applicants under the Guidelines for Licensing of Payments Banks. RBI had received 41 applications for payments banks. The central bank has approved applications of Aditya Birla Nuvo Limited, Airte...
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Posted Date : 19-Aug-2015 , 08:28:03 am | Posted By CASANSAAR
The Ministry of Corporate Affairs has invited applications for 10 posts of Technical Member in the National Company Law Tribunal (NCLT) to be constituted under Section 408 of the Companies Act, 2013. A member of the Institute who is, or has been in practice as a chartered accountant for at ...
Continue Reading... Category : Corporate Law | Comments : 0 | Hits : 696
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