Govt refuses to yield on Section 7 of RBI Act
Listen to this Article
The officers P K Dash, Akhilesh Ranjan and Neena Kumar, are from the 1982-batch of the Indian Revenue Service (IRS) and have taken charge of their posts in the Central Board of Direct Taxes (CBDT).
While Dash was till now serving as the principal chief commissioner of I-T (PCCIT) in Bhopal, Ranjan and Kumar have been serving as the PCCsIT in Delhi.
The Appointments Committee of the Cabinet (ACC), headed by Prime Minister Narendra Modi, had issued the order for their appointment on November 6.
With the new joinings, the CBDT is now a full house after a long time. The board has a strength of five members and a chairman.
The two other members of the CBDT are IRS officers Aditya Vikram and P C Mody while the borad's Chairman is Sushil Chandra.
The CBDT frames policy for the I-T Department that is tasked to enforce direct tax laws in the country. It functions under the Union finance ministry. #casansaar (Source - PTI, LiiveMint)
Category : RBI | Comments : 0 | Hits : 498
RBI has issued draft rules to tighten dividend payouts by banks by linking distributions to capital adequacy, asset and profit quality, setting a uniform prudential framework effective from FY27. In the previous financial year, banks paid over Rs 75,000 crore dividend after booking record profits. Under RBI's draft rules, dividend payments by banks will be governed by a common set of conditions from FY27. The directions apply to all banking companies, corresponding new banks and SBI, and ...
Listing of an Indian company on international stock exchanges got a push with the Reserve Bank of India (RBI) coming out with regulations under Foreign Exchange Management (FEMA). Experts believe new regulations will help companies utilise foreign exchange more effectively. Regulations have been made public through two notifications. First set of regulations deals with mode of payment and reporting of non-debt instruments. “The proceeds of purchase / subscription of equity shares of an ...
The Lok Sabha elections 2024 are in full swing with electioneering adding much colour to the entire process. However, to ensure that there is no wrongdoing, the Reserve Bank of India (RBI) has sent a missive to Payment System Operators (PSOs) asking them to keep a watch on all suspicious high-value transactions that they may come across in their systems. The general purpose of the letter is to deny the use of electronic fund transfer mechanism to anyone who is intending to influence the election...
he Reserve Bank on Tuesday came out with draft guidelines to further strengthen regulations on payment aggregators, a move aimed at boosting the payment ecosystem. The draft also covers the physical point-of-sale activities of payment aggregators (PAs). The RBI said that given the growth in digital transactions and the significant role that PAs play in this space, the current directions on PAs are proposed to be updated and cover, inter alia, KYC and due diligence of merchants, operations ...
The RBI on Monday eased rules to allow resident entities to hedge their exposures to the price risk of gold using the OTC derivatives in the International Financial Services Centre (IFSC) in addition to the derivatives on the exchanges in the IFSC. Resident entities such as banks were permitted to hedge their exposure to the price risk of gold on the exchanges in the IFSC that are recognised by the International Financial Services Centres Authority (IFSCA), and the new directive provides them...


Comments