Notifications & Circulars

Press Information Bureau

28.02.2017

Civil

India Signs Financing Agreement with World Bank for US$ 63 Million for Tejaswini

MANU/PIBU/0172/2017

A Financing Agreement for IDA credit of US$ 63 million (equivalent) for the "Tejaswini" Socio-Economic Empowerment of Adolescent Girls and Young Women Project" was signed here with the World Bank on 23rd February, 2017. The Financing Agreement was signed by Mr. Raj Kumar, Joint Secretary, Department of Economic Affairs, Ministry of Finance on behalf of the Government of India and Mr. Junaid Kamal Ahmad, Country Director, World Bank (India) on behalf of the World Bank. A Project Agreement was also signed by Mr. Mukhmeet Singh Bhatia, Principal Secretary, Department of Women, Child Development, Government of Jharkhand and Mr. Junaid Kamal Ahmad, Country Director, World Bank.

The project seeks to empower the adolescent girls with basic life skills and thereafter provide further opportunities to acquire market driven skill training or completion of secondary education, depending on the inclination of the beneficiary. The project will be delivered in 17 Districts of Jharkhand. The project has three main components, (i) Expanding social, educational and economic opportunities (ii) Intensive service delivery (iii) State capacity-building and implementation support. About 680,000 adolescent girls and young women in the project Districts are expected to benefit from the program. The closing date for the project is 30th June, 2021.

Tags : Empowerment Adolescent Girls Agreement World bank

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Securities and Exchange Board of India

28.02.2017

Capital Market

Investments by FPIs in Corporate Debt Securities

MANU/SFII/0001/2017

1. RBI on October 24, 2016, had amended the Foreign Exchange Management (Transfer or Issue of Security by a Person Resident outside India) (Twelfth Amendment) Regulations, 2016 through a Gazette notification to permit FPIs to invest in unlisted corporate debt and securitised debt instruments. Thereafter, RBI vide circular RBI/2016-17/138 dated November 17, 2016 had enhanced the list of eligible instruments for investment by FPIs under the Corporate debt route along with certain terms and conditions.

2. Accordingly, the SEBI (Foreign Portfolio Investors) (Second Amendment) Regulations, 2017 were notified on February 27, 2017. It has been decided to permit FPIs to invest in the following:

a. Unlisted corporate debt securities in the form of non-convertible debentures/bonds issued by public or private Indian companies subject to the guidelines issued by the Ministry of Corporate Affairs, Government of India from time to time and also subject to minimum residual maturity of three years and end use-restriction on investment in real estate business, capital market and purchase of land. The expression 'Real Estate Business' shall have the same meaning as assigned to it in Foreign Exchange Management (Transfer or issue of Security by a Person Resident outside India) Regulations, 2000 Notification No.FEMA.362/2016-RB dated February 15, 2016. The custodians of the FPIs shall put in place an appropriate mechanism to ensure compliance with these conditions as prescribed by RBI from time to time.

b. Securitised debt instruments as under:

i. any certificate or instrument issued by a special purpose vehicle (SPV) set up for securitisation of asset/s where banks, FIs or NBFCs are originators;and/or

ii. any certificate or instrument issued and listed in terms of the SEBI (Public Offer and Listing of Securitised Debt Instruments) Regulations, 2008

3. Investment by FPIs in the unlisted corporate debt securities and securitised debt instruments shall not exceed INR 35,000 cr within the extant Corporate debt limit which currently is INR 2,44,323 cr.

4. Further, investment by FPIs in securitised debt instruments shall not be subject to the minimum 3-year residual maturity requirement.

5. All other existing terms and conditions for FPI investments in corporate debt securities shall continue to apply.

This circular shall come into effect immediately. This circular is issued in exercise of powers conferred under Section 11 (1) of the Securities and Exchange Board of India Act, 1992.

Tags : Investment Securities FPIs

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Reserve Bank of India

28.02.2017

Banking

Reserve Bank Establishes an Inter-disciplinary Standing Committee on Cyber Security

MANU/RPRL/0028/2017

The Reserve Bank of India has set up an Inter-disciplinary Standing Committee on Cyber Security to, inter alia, review the threats inherent in the existing/emerging technology; study adoption of various security standards/protocols; interface with stakeholders; and suggest appropriate policy interventions to strengthen cyber security and resilience.

The current composition of the Standing Committee is as follows:

i. Smt. Meena Hemchandra, Executive Director, RBI, Chairperson

ii. Prof. H. Krishnamurthy, Principal Research Scientist, IISC, Bangalore

iii. Dr. A. S. Ramasastri, Director, IDRBT, Hyderabad

iv. Shri. Nandkumar Sarvade, CEO, ReBIT, Mumbai

v. Shri. Krishna Sastry Pendalaya, Forensic Scientist

vi. Shri. R. Vittal Raj, Founder and Partner, M/s. Kumar & Raj, Chartered Accountants

vii. Shri. Ashutosh Bahuguna, Scientist-C, CERT-In

viii. Shri. S. Ganesh Kumar, CGM-in-Charge, Department of Information Technology, Reserve Bank of India, Central Office

ix. Smt. Nanda S Dave, CGM, Department of Payment and Settlement Systems, Reserve Bank of India, Central Office

x. Shri. R. Ravikumar, CGM, Department of Banking Supervision, Reserve Bank of India, Central Office

xi. Shri. V. G. Sekar, GM, Department of Banking Supervision, Reserve Bank of India, Central Office (Member Secretary)

Going forward, the committee may co-opt more experts in this area and also operate through a framework of sub-committees, if required, to examine specific issues.

Background

Based on the recommendations of the Expert Panel on Cyber Security and Information Technology Examination (Chairperson: Smt. Meena Hemchandra), the Reserve Bank had issued guidelines to banks on June 2, 2016 mandating cyber security preparedness for addressing cyber risks. While banks have taken several steps to strengthen their defences, the diverse and ingenious nature of cyber-attacks necessitates an ongoing review of the cyber security landscape and emerging threats. Therefore, the Statement on Developmental and Regulatory Policies, issued along with the Sixth Bi-monthly Monetary Policy Statement, 2016-17 announced on February 8, 2017, had proposed constitution of an inter-disciplinary Standing Committee on Cyber Security.

Tags : Committee Establishment Cyber security

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Ministry of Finance

28.02.2017

Customs

Exemption from Drawal of Samples for the Purpose of Grant of Drawback to the AEO Certificate Holders

MANU/CUCR/0006/2017

I am directed to invite your attention to Circular No. 34/95-Cus dated 06.04.1995 prescribing the monetary limits and frequency of drawal of sample for purposes of grant of drawback and Circular No. 57/1997-Cus dated 31.10.1997 read with Circular No. 25/2005- Cus exempting certain exporters having in house testing facilities and where the samples have earlier been drawn by Central Excise authorities, from drawal of samples for purposes of grant of drawback. In continuation to above mentioned circular, and as a measure of further facilitation, it has been decided by the Board that those exporters who have been accorded Authorized Economic Operator (AEO) certificate (Tier II & Tier III) in terms of Circular No. 33/2016- Customs dated 22.07.2016 are being exempt from the requirements of drawl of samples for the purpose of grant of drawback, except in case of any specific information or intelligence. Suitable Public Notice and Standing Order should be issued for guidance of thetrade and officers. Any difficulty faced should be initiated to the Board.

Tags : Exemption Samples Drawl

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Ministry of Finance

28.02.2017

Customs

Acceptance of e-BRC of DGFT Towards Proof of Realization of Sale Proceeds for Exports with LEO Date Upto 31.03.2014 under Drawback Scheme

MANU/CUCR/0005/2017

Attention is invited to Board's Circular No. 5/2009-Customs dated 2.2.2009 which prescribes Bank Realization Certificate (BRC) as one of the documents that may be submitted to Customs by the exporters as proof of realization of sale proceeds for exports. Further, for exports with LEO date from 01.04.2014 onwards, an electronic system of reconciliation of sale proceeds (RBI-BRC module) is made functional by DG (Systems) in coordination with Reserve Bank of India (RBI), which has been dealt in Instruction No. 609/59/2012-DBK dated 27.11.2015. A difficulty has been highlighted by field formations and trade that for exports with LEO date 12.08.2012 onwards till 31.03.2014, DGFT's e-BRC (which is also verifiable from DGFT website) is not being accepted and negative statement from statutory auditor or AD bank is insisted which adds to transaction cost. Non-acceptance of e-BRC of DGFT by field formations is due to fact that it contains "realized value" details but does not contain details of commission, freight, insurance etc. which are often relevant for drawback purpose.

In light of the above, the Board has decided that for exports with LEO dates 12.08.2012 onwards till 31.03.2014, DGFT's e-BRC would be accepted, except in case of specific intelligence or information of misuse. This shall be subject to appropriate declaration by the exporter on back of DGFT e-BRC. Format of the said declaration is annexed herewith. A suitable Public Notice and Standing Order may be issued for the guidance of the trade and staff. Difficulties faced, if any, in implementation of the Circular may be brought to the notice of the Board at an early date.

Tags : Acceptance E-brc Proof Sale proceeds

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Ministry of Science and Technology

28.02.2017

Civil

Enforcement Date of Regional Centre for Biotechnology Act, 2016

MANU/STEC/0002/2017

In exercise of the powers conferred by sub-section (2) of section 1 of the Regional Centre for Biotechnology Act, 2016 (36 of 2016), the Central Government hereby appoints the 1st day of March, 2017 as the date on which the provisions of the said Act shall come into force.

Tags : Enactment Date Enforcement

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Ministry of Human Resource Development

02.03.2017

Education

Mandatory Requirement for Individuals Availing Facilities under the Sarva Shiksha Abhiyan

MANU/HRDT/0007/2017

Whereas, the use of Aadhaar as an identifier for delivery of services or benefits or subsidies simplifies the Government delivery processes, brings in transparency and efficiency, and enables beneficiaries to get their entitlements directly in a convenient and seamless manner and Aadhaar obviates the need for producing multiple documents to prove one's identity;

And whereas, the Ministry of Human Resource Development in the Government of India (hereinafter referred to as MHRD) is administering Sarva Shiksha Abhiyan, a Centrally Sponsored Scheme, for universalising elementary education, across the country in partnership with the State Governments and Union territory Administrations, so as to achieve the goals such as universal access and retention, bridging of gender and social category gaps in education and enhancement of learning levels of children;

And whereas, the Sarva Shiksha Abhiyan provides for a variety of interventions, including opening of new schools, construction of schools and additional classrooms, toilets and drinking water, provisioning for teachers, periodic teacher training and academic resource support, textbooks, uniforms and support for learning achievement;

And whereas, Sarva Shiksha Abhiyan Scheme framed in accordance with the norms and standards and free entitlements as mandated under the Right of Children to Free and Compulsory Education (RTE) Act, 2009, which provides a legal framework that entitles all children in the age group of 6 to 14 years free and compulsory elementary education till its completion;

And whereas, section 7 of the RTE Act, 2009 provides that the Central Government and the State Governments shall have concurrent responsibility for providing funds for carrying out the provisions of the RTE Act and the Sarva Shiksha Abhiyan has been designated as the vehicle for implementation of RTE Act, 2009 for which central share is released to States and Union territories for transferring the same together with the matching state share as per the applicable fund sharing pattern between Centre and State or Union territory to the State Implementation Societies (SISs), for undertaking the approved activities under the Scheme;

And whereas, implementation of Sarva Shiksha Abhiyan involves recurring expenditure incurred from the Consolidated Fund of India;

Now, therefore, in pursuance of the provisions of section 7 of the Aadhaar (Targetted Delivery of Financial and Other Subsidies, Benefits and Services) Act, 2016 (18 of 2016) (herein after referred to the said Act), the Central Government hereby notifies the following, namely:-

(i)Children between the age of 6 to 14 years, eligible to receive benefits and entitlements under the Sarva Shiksha Abhiyan, would be required to furnish proof of possession of Aadhaar number or undergo Aadhaar authentication.

(ii)Children between the age of 6 to 14 years, eligible to receive benefits and entitlements under the Sarva Shiksha Abhiyan, who do not possess an Aadhaar Number or, are not yet enrolled for Aadhaar, are requested to apply for Aadhaar enrolment as by 30th June, 2017, provided they are entitled to obtain Aadhaar number as per section 3 of the Aadhaar Act. Such children may visit any Aadhaar enrolment centre (list available at www.uidai.gov.in) to get enrolled for Aadhaar.

(iii)In case there is no enrolment facility in the neighbourhood areas to a school or a child is not able to enrol for Aadhaar for any other reason, the School Education Department of the State or Union Territory shall allocate a unique number to such child which will be used to separately identify him or her and benefits under this scheme shall be given to such child also.

(iv)As per regulation 12 of the Aadhaar (Enrolment and Update) Regulations, 2016, the local authorities in the State Governments or Union Territory Administrations have become or are in the process of becoming UIDAI Registrars for Aadhaar enrolment and are organising special Aadhaar enrolment camps at convenient locations for providing enrolment facilities in consultation with UIDAI. Children desirous for availing any of the benefits and services offered under Sarva Shiksha Abhiyan, who do not possess Aadhaar number or have not yet enrolled for Aadhaar, may also visit such special Aadhaar enrolment camps for Aadhaar enrolment or any of the Aadhaar enrolment centres in the vicinity with existing registrars of UIDAI. The Aadhaar enrolment process as prescribed in section 5 of the Aadhaar Act shall be followed.

(v)In case of children with special needs who are unable to provide fingerprints, owing to reasons such as injury, deformities, amputation of the fingers or hands or any other relevant reason, only Iris scans will be collected. However, for such children with special needs who are unable to provide any biometric information contemplated by the Aadhaar (Enrolment and Update) Regulations, 2016, the procedure specified by the UIDAI in terms of regulation 6(2) of the Aadhaar (Enrolment and Update) Regulations, 2016, shall be followed to carry out enrolment for Aadhaar.

(vi)In case authentication using Aadhaar or submission of proof of possession of Aadhaar is not possible, eligible children shall continue to avail the benefits under Sarva Shiksha Abhiyan till they become time or age barred, if the following documents are produced, namely:-

(a) (i)If they have enrolled for Aadhaar then Aadhaar Enrolment ID slip; or

(ii)a copy of the request made for Aadhaar enrolment, as specified in Paragraph 6 of this notification;

(iii)Unique number issued by School Education Department; and

(b)An undertaking by the parent or legal guardian that the child is residing with him or her and that he or she is not availing same services or benefits for the child from any other Scheme or School:

Provided that the above documents shall be checked by an officer designated by the department in-charge of implementation of Sarva Shiksha Abhiyan in the State Government or Union territory Administration.

2.In order to provide convenient and hassle free benefits under Sarva Shiksha Abhiyan to eligible children between 6 to 14 years, the State Governments, and Union territory Administrations shall make wide publicity through the offices of the State Project Officers, District Education Offices, Block Resources Centres, Cluster Resource Centres, etc. about the need for enrolment for Aadhaar and details of facilities made for Aadhaar enrolment.

3.In case, eligible children under Sarva Shiksha Abhiyan are not able to enrol due to non-availability of enrolment centre in the Block or Tehsil or Taluka, the State Projects Officers are required to create enrolment facilities at convenient location and children through their parents or guardians may be requested to register their request for enrolment by giving their names with other details, such as same, address, mobile number with the school.

4.This notification shall come into effect from the date of its publication in all States and Union Territories except the States of Assam, Meghalaya and Jammu and Kashmir.

Tags : Requirement Facilities Availing of Sarva Shiksha Abhiyan

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Press Information Bureau

01.03.2017

Constitution

Recommendation of Legal Framework for Protection of Interests of Migrants

MANU/PIBU/0175/2017

A Government appointed Panel has recommended necessary legal and policy framework to protect the interests of the migrants in the country, stating that the migrant population makes substantial contribution to economic growth and their Constitutional rights need to be secured. The 'Working Group on Migration' set by the Ministry of Housing & Urban Poverty Alleviation in 2015 who submitted their Report to the Government today held extensive discussions with Minister of HUPA Shri M. Venkaiah Naidu.

The Working Group has recommended that the Protocols of the Registrar General of India needs to be amended to enable caste based enumeration of migrants so that they can avail the attendant benefits in the States to which migration takes place. It also recommended that migrants should be enabled to avail benefits of Public Distribution System (PDS) in the destination State by providing for inter-State operability of PDS. Referring to Constitutional Right of Freedom of Movement and residence in any part of the territory of the country, the Group suggested that States should be encouraged to proactively eliminate the requirement of domicile status to prevent any discrimination in work and employment. States are also to be asked to include migrant children in the Annual Work Plans under Sarva Siksha Abhiyan (SSA) to uphold their Right to Education. Noting that money remittances of migrants was of the order of Rs.50,000 cr during 2007-08, the Working Group suggested that the vast network of post offices need to be made effective use of by reducing the cost of transfer of money to avoid informal remittances. It also suggested that migrants should be enabled to open bank accounts by asking banks to adhere to RBI guidelines regarding Know Your Customer (KYC) norms and not insist on documents that were not required. The Group suggested that the hugely underutilized Construction Workers Welfare Cess Fund should be used to promote rental housing, working Women Hostels etc., for the benefit of migrants.

Quoting data of Census 2011 and National Sample Survey Organisation (NSSO), the Group stated that migrants constitute about 30% of the country's population and also of the total working force. The recent Economic Survey noted that annual migration in the country increased from 3.30 million in 2011 to 9.00 million in 2016. Shri Venkaiah Naidu asked Ministry officials to send report to all concerned ministries and convene a meeting on further course of action. The 18-member Working Group headed by Shri Partha Mukhopadhay of the Centre for Policy Research has representatives of Ministries of Home, HUPA, Labour and Employment, Urban Development, Rural Development, Women & Child Development, Social Justice & Empowerment, Statistics & Programme Implementation, NITI Ayog, Registrar General of India, UNESCO, TATA Trust, Indian Institute for Human Settlements, Indira Gandhi Institute of Development Research as members.

Tags : Recommendation Protection Migrants

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Ministry of Social Justice and Empowerment

01.03.2017

Civil

Mandatory Requirement of AADHAR for Individuals Availing Facilities under Specified Schemes through Banks or Financial Institutions

MANU/SJEM/0005/2017

Whereas, the use of Aadhaar as identity document for delivery of services or benefits or subsidies simplifies the Government delivery processes, brings in transparency and efficiency, and enables beneficiaries to get their entitlements directly to them in a convenient and seamless manner and Aadhaar obviates the need for producing multiple documents to prove one's identity;

And whereas, Ministry of Social Justice and Empowerment (hereinafter referred to as Ministry), Government of India is providing assistance in the form of subsidized loans, interest subsidy or guarantees (hereinafter referred to as benefits) for students and entrepreneurs (hereinafter referred to as beneficiaries) as per scheme guidelines under the following Central Sector Schemes (hereinafter referred to as Schemes):

i.Dr Ambedkar Scheme of Interest Subsidy on Educational Loans for Overseas Studies for OBC and EBC Students;

ii.Venture Capital Fund for Scheduled Caste Entrepreneurs;

iii.Credit Enhancement Guarantee Scheme for Young and Start-Up Entrepreneurs belonging to Scheduled Castes;

And whereas, the aforementioned Schemes are implemented through Banks or Financial Institutions acting as Ministry's nodal banks or agencies (hereinafter referred to as Implementing Agencies). And whereas the aforesaid Schemes involves expenditure incurred from the Consolidated Fund of India;

Now, therefore, in pursuance of the provisions of section 7 of the Aadhaar (Targeted Delivery of Financial and other Subsidies, Benefits and Services) Act, 2016 (18 of 2016) (herein after referred to the said Act), the Central Government hereby notifies the following, namely:--

       (1) An eligible individual desirous of availing the benefits under the Schemes offered through Implementing Agencies is required to furnish proof of possession of Aadhaar or undergo Aadhaar authentication.

(2)An individual desirous of availing the benefit under the Schemes, who does not possess an Aadhaar or has not yet enrolled for Aadhaar is hereby required to apply for Aadhaar enrolment by 30th June 2017, provided he or she is entitled to obtain Aadhaar as per Section 3 of the said Act and such individuals may visit any Aadhaar enrolment centre (list available at Unique Identification Authority of India (UIDAI) website www.uidai.gov.in) for Aadhaar enrolment.

(3)As per regulation 12 of the Aadhaar (Enrolment and Update) Regulations, 2016, the Ministry, through its implementing agencies, which requires an individual to furnish Aadhaar, is required to offer Aadhaar enrolment facilities for the beneficiaries who are not yet enrolled for Aadhaar and in case there is no Aadhaar enrolment centre located in the respective Block or Taluka or Tehsil, the Ministry, through its implementing agencies is required to provide Aadhaar enrolment facilities at convenient locations in coordination with the existing Registrars of UIDAI or by becoming UIDAI registrar themselves:

Provided that till the time Aadhaar is assigned to the beneficiaries, benefits under the Schemes shall be given to such beneficiaries subject to the production of the following identification documents, namely:

(a)      (i) if she/he has enrolled, her/his Aadhaar Enrolment ID slip; or

(ii) a copy of her/his request made for Aadhaar enrolment, as specified in sub-paragraph (b) of paragraph 2; and

(b)      (i) Bank passbook with photograph; or

(ii) Voter identity card issued by the Election Commission of India; or

(iii) Ration Card, or

(iv) Permanent Account Number (PAN) Card issued by the Income Tax Department; or

(v) Passport; or

(vi) Driving license issued by the Licensing Authority under the Motor Vehicles Act, 1988 (59 of 1988); or

(vii) any other documents specified by the Ministry:

Provided further that the above documents shall be checked by an officer designated by the Ministry for that purpose.

2. In order to provide convenient and hassle free benefits to the beneficiaries under the schemes, the Ministry through its implementing agencies shall make all the required arrangements including the following, namely:-

(a) Wide publicity through media and individual notices shall be given to the beneficiaries to make them aware of the requirement of Aadhaar under the Schemes and they may be advised to get themselves enrolled at the nearest Aadhaar enrolment centres available in their areas by 30th June, 2017, in case they are not already enrolled and the list of locally available enrolment centres (list available at www.uidai.gov.in) shall be made available to them.

(b) In case, the beneficiaries of the Schemes are not able to enrol for Aadhaar due to non-availability of enrolment centres in the vicinity such as in Block or Taluka or Tehsil, the Ministry through its implementing agencies is required to facilitate Aadhaar enrolment facilities at convenient locations, and the beneficiaries can be requested to register their request for Aadhaar enrolment by giving their names, address, mobile number with other details as specified in the proviso to sub-paragraph (3) of paragraph 1, with the concerned official of the implementing agencies or through the web portal provided for the purpose.

3.This notification shall come into effect from the date of its publication in all the States and Union Territories except the States of Assam, Meghalaya and Jammu and Kashmir.

Tags : Aadhar Mandatory Scheme Banks

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