RBI/2014-15/577 DCBR.CO.BPD.(SCB).No.1/13.05.000/2014-15 April 30, 2015 The Chief Executive Officers of All Scheduled Primary (Urban) Co-operative Banks Dear Sir/Madam, First Bi-monthly Monetary Policy Statement 2015-16 – Issue of Credit Cards by Scheduled Urban Cooperative Banks Please refer to para 26 of First Bi-monthly Monetary Policy Statement 2015-16 (extract appended) by Reserve Bank of India on April…
Income tax department has released circular no. 07/2015 dt. 23-04-15 in which it has extended the benefit of Circular no. 4/2002 dt. 16-07-2002 to those corporations which are covered u/s 10(26BBB). Circular 4/2002 dt. 16-07-2002 states that no TDS to be deducted from payments made to such entities if Income of such entities is unconditionally…
The Reserve Bank of India has imposed monetary penalty on the following three banks for violation of Reserve Bank of India instructions, inter alia, on Know Your Customer (KYC)/ Anti Money Laundering (AML). The details of the penalty are: Sl. No. Name of the bank Penalty Amount (in ` mn) 1. Bank of Maharashtra 15 2. Dena…