RBI releases Names of Applicants of Trade Receivables Discounting System (TReDS)

The Reserve Bank of India on 25.03.2015 released the names of applicants who have applied for setting up Trade Receivables Discounting System (TReDS). These are: Sr.No.  Name of the entity NSE Strategic Investment Corporation Limited (NSIC) and Small Industries Development Bank of India (SIDBI), Mumbai Trade Receivables Exchange (Group of Banking Professionals), Mumbai Axis Bank…

RBI slashes Repo Rate by 25 basis point

RBI slashes ‘Repo rate’ by 25 basis point from immediate effect. Consequently the policy rates will be as under from 04.03.2015 Repo Rate…………………7.50% Reverse Repo Rate……6.50% Marginal Standing Facility Rate….8.50% Bank Rate………………………………….8.50% SLR…………………………….21.50% (Unchanged) CRR……………………………4% (Unchanged) RBI continues to provide liquidity under overnight repos of 0.25 percent of bank-wise NDTL at the LAF repo rate…

Highlights of 2015 Budget

Budget 2015 Highlights: 1. No change in income tax slabs. 2. Medical exemption limit increased to Rs.25000/- from Rs.15000/- 3. Health Insurance Premium deduction for senior citizen increased to Rs.30000/- from Rs.10000/- 4. Exemption of Rs.50000/= for pension under section 80 C 5. Exemption limit rose to Rs.150000/- from Rs.100000/- on contribution to National Pension…

Now on wards submission of Form A-1 is dispensed with for import of goods to India

According to earlier RBI Circular [A.P.(DIR Series) No. 82 dated February 21, 2012] any persons, firms and companies for making payments, exceeding USD 5,000 or its equivalent towards imports into India,  application for such payment must be made in Form A-1.  RBI communique today (dated 13.02.2015) said that in order to further liberalize and simplify…