Reserve Bank of India

09.03.2017

Banking

Issue of Rs. 10 banknotes with improved security features

MANU/RPRL/0030/2017

The Reserve Bank of India will shortly issue Rs. 10 denomination banknotes in the Mahatma Gandhi Series-2005 with inset letter 'L' in both the number panels, bearing the signature of Dr. Urjit R. Patel, Governor, Reserve Bank of India, and the year of printing '2017' printed on the reverse of the banknote. The numerals in both the number panels of these banknotes are in the ascending size from left to right while the first three alpha-numeric characters (prefix) remain constant in size. All the Banknotes in the denomination of Rs. 10 issued by the Bank in the past will continue to be legal tender.

Tags : Bank Notes Issuance Security

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Press Information Bureau

09.03.2017

Civil

India and Belgium sign Protocol amending the India-Belgium Double Taxation Avoidance Agreement

MANU/PIBU/0191/2017

India and Belgium have signed a Protocol amending the existing Agreement and Protocol between the two countries for Avoidance of Double Taxation and the Prevention of Fiscal Evasion with respect to Taxes on Income today in New Delhi. The Protocol was signed by Shri Sushil Chandra, Chairman Central Board of Direct Taxes (CBDT) on behalf of India and Mr. Jan Luykx, Ambassador of Belgium to India, on behalf of Belgium. The Protocol will broaden the scope of the existing framework of exchange of tax related information. This in turn will help curb tax evasion and tax avoidance between the two countries and will also enable mutual assistance in collection of taxes.

Fighting the menace of Black Money stashed in offshore accounts has been a key priority area for the Government. To further this goal, India has either signed or amended international agreements, declarations or conventions for the Avoidance of Double Taxation & Prevention of Fiscal Evasion with respect to Taxes on Income and for the Exchange of Information with Switzerland, Mauritius, Cyprus, Japan, Republic of Korea, Kazakhstan, Singapore and Austria during the financial year 2016-17.

Tags : Protocol Taxation Avoidance Signing of

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Press Information Bureau

07.03.2017

Direct Taxation

Central Board of Direct Taxes (CBDT) signs another Bilateral Advance Pricing Agreement (APA) with subsidiary of a Japanese Company

MANU/PIBU/0187/2017

The Central Board of Direct Taxes (CBDT) has entered into a bilateral Advance Pricing Agreement (APA) with rollback provision with a Japanese subsidiary on 6th March, 2017. The total number of APAs entered into by the CBDT has reached 141 with this signing. The CBDT expects more APAs to be concluded and signed before the end of the current fiscal.

With this signing, the total number of bilateral APAs with Japanese subsidiaries has reached five, all with rollback provisions. Four APAs out of these five have been signed in the current financial year. All these five bilateral APAs are with Japanese trading companies (Sogo Soshas). Certainty in tax treatment for Sogo Soshas has been a long standing demand of the Japanese industry. The bilateral signing of APAs in this sector provides tax certainty up to nine years in each of these cases.

Tags : Agreement Billateral Advance Pricing

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Press Information Bureau

07.03.2017

Civil

No one to be deprived of benefits for lack of Aadhaar, Government says that benefits to continue with alternate means of identification

MANU/PIBU/0188/2017

Government has said that no one will be deprived of the benefits for lack of Aadhaar. In a statement issued today, the Government has reiterated that till Aadhaar number is assigned to any individual, the benefit will continue to be given based on alternate means of identification. It also directed the departments to provide Aadhaar enrolment facilities to their beneficiaries under Regulation 12 of Aadhaar (Enrolment and Update) Regulations 2016.

Considering the usefulness of Aadhaar in curbing leakages and bringing transparency in delivery system, the Government has recently issued orders to use Aadhaar in several other welfare schemes funded from the Consolidated Fund of India. While these orders require beneficiaries of these programs to give their Aadhaar number, it has also been ensured that no one is deprived of the benefits for want of Aadhaar.

In case of Mid Day Meal scheme and under the Integrated Child Development Scheme, the schools and Anganwadis have been asked to collect the Aadhaar number of the children beneficiaries and in case a child does not have Aadhaar, the school or ICDS functionary will be required to provide enrolment facilities to a child and till Aadhaar number is assigned, the benefits will be continue.

Aadhaar has been given to more than 112 Crore people. With such wide and extensive coverage, Aadhaar has become an important tool of transformation, good governance and empowerment of people. It ensures that the benefits reach only the deserving and entitled individuals and are not cornered away by fake persons and middlemen. Various studies and survey had earlier pointed out massive leakages in welfare schemes. During the last two and half years, Aadhaar has helped in direct delivery of benefits to crores of people through the Direct Benefit Transfer (DBT) in schemes such as LPG subsidy under Pahal, Scholarships, MNREGA, and Pensions. In the Public Distribution System, Aadhaar is also ensuring that the food grains are received only by the genuine beneficiaries and not diverted by any middle man or unscrupulous elements. It has, thus, saved huge sums of public money which otherwise was being siphoned away by middlemen. The total savings because of plugging of leakages due to Aadhaar during the last two and half years in just a few schemes where Aadhaar has been implemented amount to more than Rs 49,000 Crore.

Tags : AADHAR Lack Alternate Identification

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Reserve Bank of India

07.03.2017

Banking

Supervisory College for State Bank of India, ICICI Bank Ltd., Axis Bank Ltd. and Punjab National Bank

MANU/RPRL/0029/2017

Meetings of the Supervisory Colleges of State Bank of India, ICICI Bank Ltd., Axis Bank Ltd. and Punjab National Bank were held at Mumbai during February 22-24, 2017. Shri S.S. Mundra, Deputy Governor, Reserve Bank of India inaugurated the proceedings of the Colleges. Thirty six host supervisors from nineteen overseas banking supervisory authorities participated in the Supervisory College of State Bank of India on February 22, 2017. Sixteen supervisors from ten overseas banking supervisory authorities and ten supervisors from six authorities participated in the Supervisory Colleges of ICICI Bank Ltd. and Axis Bank Ltd. respectively on February 23, 2017. Ten supervisors from five overseas banking supervisory authorities participated in the Supervisory College of Punjab National Bank on February 24, 2017. Representatives from Securities and Exchange Board of India (SEBI), Insurance Regulatory and Development Authority (IRDA) & Pension Fund Regulatory and Development Authority (PFRDA) also participated in the Colleges of State Bank of India, ICICI Bank Ltd. and Punjab National Bank as these bank led financial groups operate in more than one segment of the Indian financial market and undertake a wide range of financial activities, including commercial banking, investment banking, insurance, pension fund management etc.

In his address to the College of Supervisors, Shri Mundra gave an overview of the macroeconomic conditions in India, current supervisory approach of Reserve Bank of India, supervisory measures adopted by RBI in recent times, increased focus on cyber security, matters of critical importance to the Indian banking system like asset quality related issues etc. The Deputy Governor noted that supervisory college meetings help in building mutual trust and relationship among supervisors.

Smt Arundhati Bhattacharya, Chairman, State Bank of India, Smt Chanda Kochhar, MD & CEO, ICICI Bank Ltd., Smt Shikha Sharma, MD & CEO, Axis Bank Ltd. and Smt Usha Ananthasubramanian, MD & CEO, Punjab National Bank made presentations and responded to the queries of the various host supervisors on their respective banks.

The supervisory and regulatory developments in RBI were shared with the participants. The participants also deliberated on many issues of mutual concern in the Colleges and shared their perspectives on the presence and overseas operations of State Bank of India, ICICI Bank Ltd., Axis Bank Ltd. and Punjab National Bank.

The Reserve Bank of India has set up, as part of supervision of cross border operations of Indian banks abroad, Supervisory Colleges for six major banks (State Bank of India, Bank of Baroda, Bank of India, ICICI Bank Ltd., Axis Bank Ltd. and Punjab National Bank) which have significant international presence. The main objectives of Supervisory College are to enhance information exchange and cooperation among supervisors, to improve understanding of the risk profile of the banking group and thereby facilitate more effective supervision of the internationally active banks. The physical meeting of the Colleges are held every alternate year.

Tags : Inauguration Supervisory colleges

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Telecom Regulatory Authority of India

07.03.2017

Media and Communication

TRAI releases Recommendations on "Spectrum Usage Charges and Presumptive Adjusted Gross Revenue for Internet Service Providers and Terminal Service Providers

MANU/TRAI/0020/2017

The Telecom Regulatory Authority of India (TRAI) has today issued its Recommendations on "Spectrum Usage Charges and Presumptive Adjusted Gross Revenue for Internet Service Providers and Commercial Very Small Aperture Terminal Service Providers".

2. DoT has sought TRAI's recommendations in terms of clause 11(1) of TRAI Act 1997 (as amended) on:

(A) ISP license
(i) Rates for SUC;
(ii) Percentage of AGR including minimum AGR;
(iii) Allied issues like schedule of payment, charging of interest,penalty and Financial Bank Guarantee (FBG).

(B) Commercial VSAT license
(i) Floor level (minimum) AGR, based on the amount of spectrum held by commercial VSAT operators.

3. Accordingly, TRAI issued a consultation paper on "Spectrum Usage Charges and Presumptive Adjusted Gross Revenue for Internet Service Providers and Commercial Very Small Aperture Terminal Service Providers" on 19th August 2016. Written comments and counter comments were invited from stakeholders by 13th October 2016 and 27th October 2016 respectively. An Open House Discussion (OHD) was held on 19th January 2017 with the stakeholders.

4. Based on the analysis of the comments received from the stakeholders and its own analysis, the Authority has finalised its Recommendations on "Spectrum Usage Charges and Presumptive Adjusted Gross Revenue for Internet Service Providers and Commercial Very Small Aperture Terminal Service Providers".

5. The salient features of the recommendations are given below:

(i) The existing system of spectrum assignment on location/link-by-linkbasis on administrative basis to ISP licensees in the specified bands (viz 2.7 GHz, 3.3 GHz, 5.7 GHz and 10.5 GHz) to continue.
(ii) Minimum presumptive AGR should not . be made applicable to ISPlicensees.
(iii) SUC should not be levied as percentage of AGR and existing formula based mechanism of charging SUC to continue and also the existing system of payment of SUC charges on annual basis by ISP licensees should continue.
(iv) The interest for delayed payment of SUC by ISP licensees should be 2% above the SBI PLR rate existing on the beginning of the relevant financial year and there should be no requirement of FBG for ISP licensee in respect of formula based SUC payable.
(v) The minimum presumptive AGR should not be made applicable to commercial VSAT license.
(vi) The SUC should not be more than 1% of AGR irrespective of the data rate.
(vii) DoT may take up with DoS to evolve a system where the VSAT licensees are not made to run from pillar to post to get their services activated. The clock should start from the day the bandwidth is allotted by DoS and DoT should allot frequency within 3 months of allotment of spectrum by DoS. The two departments may also explore the possibility of implementing an on-line application for automating the whole process to bring in transparency.
(viii) DoT should make arrangement to accept online payment of financial levies /dues such as LF, SUC and other fees that are paid by the licensees for obtaining licence/ approval/ clearance / issue of NOC from DoT.
(ix) DoT should put in place a comprehensive, integrated on-line system that acts as a single window clearance for the allocation/clearances/ issuance for approval/ clearance / issue of NOC and other permissions to the licensees.

Tags : Recommendation Release

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Ministry of Chemicals and Fertilizers

06.03.2017

Civil

Mandatory requirement of AADHAR for individuals availing facilities under the cash compensation given under the scheme called ex-gratia to Bhopal gas victims

MANU/CHFZ/0015/2017

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 in a convenient and seamless manner and Aadhaar obviates the need for producing multiple documents to prove one's identity;

And whereas, the Department of Chemicals and Petrochemicals, Ministry of Chemicals and Fertilizers in the Government of India is administering the Bhopal Gas Leak Disaster (Processing of Claims) Act, 1985 and a Scheme thereunder for ensuring proper legal representation of the Bhopal Gas victims and settlement of their claims. Under this Act, the Office of the Welfare Commissioner, Bhopal Gas victims was created in 1985 and the Claim Tribunals to adjudicate claims of the Bhopal Gas Victims actually started functioning from the year 1992 by the Government of India for speedy adjudication and award or disbursement of compensation to the survivors and families of the victims of the gas leak disaster. Under the scheme called "Ex-gratia to Bhopal Gas victims", the compensation is paid to Death, Permanent disability, Injury of utmost severity, Cancer, Total Renal Failure and Temporary disability categories of gas victims by the Office of the Welfare Commissioner, Bhopal Gas Victims.

And whereas, the aforesaid benefit of cash compensation given to the individual recipients under the scheme is one-time expenditure from the Consolidated Fund of India and;

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) (hereinafter referred to as the said Act), the Central Government hereby notifies the following, namely: --

1.       (1) An individual eligible to receive the benefit of cash compensation under the scheme is, hereby required to furnish proof of possession of Aadhaar number or undergo Aadhaar authentication.
(2) All such eligible beneficiaries entitled to receive benefit of cash compensation under the scheme, who does not possess the Aadhaar Number or, not yet enrolled for Aadhaar, but desirous of availing the benefits of cash compensation under the Scheme are hereby required to make application 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 www.uidai.gov.in) to get enrolled for Aadhaar.
(3) As per regulation 12 of Aadhaar (Enrolment and Update) Regulations, 2016, the Department of Chemicals and Petrochemicals through its implementing agency i.e. Office of the Welfare Commissioner, Bhopal Gas Victims, Bhopal which requires an individual to furnish Aadhaar, is required to offer 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 Department in charge of implementation of the scheme through its implementing agency i.e. Office of the Welfare Commissioner, Bhopal Gas Victims, Bhopal may provide enrolment facilities for Aadhaar at convenient locations in coordination with the existing Registrars of UIDAI or by becoming UIDAI Registrar:
Provided that, till the Aadhaar is assigned to the individual of the Scheme, benefits under the Scheme shall be given to such individual, subject to the production of the following identification documents, namely:
(a)      (i) if he or she has enrolled, his or her Aadhaar Enrolment ID slip; or
(ii) a copy of his or her request made for Aadhaar enrolment, as specified in sub-paragraph (2) of paragraph 2 below; and
(b)     (i) Voter ID card issued by the Election Commission of India; or
(ii) Permanent Account Number Card issued by Income Tax Department; or
(iii) Passport; or
(iv) Driving License issued by Licensing authority under Motor Vehicles Act, 1988 (59 of 1988); or
(v) Certificate of Identity having photo issued by any Gazetted officer or Tehsildar on an official letter head; or
(vi) Address card having Name and Photo issued by Department of Posts; or
(vii) Kisan Photo Passbook; or
(viii) any other document as specified by the State or Union territory Administration:
Provided further that the above documents shall be checked by an officer designated by the Department of Chemicals and Petrochemicals through its implementing agency i.e. Office of the Welfare Commissioner, Bhopal Gas Victims, Bhopal for that purpose.

2. In order to provide convenient and hassle free benefit of cash compensation under the Scheme to the beneficiaries, the Department in charge of implementing the Scheme shall make all the required arrangements including following, namely: -

(1) Wide publicity through media and individual notices through the office of the Department of Chemicals and Petrochemicals and through its implementing agency i.e. Office of the Welfare Commissioner, Bhopal Gas Victims, Bhopal shall be given to beneficiaries of cash compensation under the scheme to make them aware of the requirement of Aadhaar under the scheme and they may be advised to get themselves enrolled for Aadhaar at the nearest enrolment centres available in their areas by 30th June, 2017 in case they are not already enrolled and the list of locally available Aadhaar enrolment centres shall be made available to them.

(2) In case, beneficiaries of cash compensation under the scheme are not able to enrol for Aadhaar due to non-availability of Aadhaar enrolment centres in the nearby vicinity such as in the Block or Tehsil or Taluka, the Department of Chemicals and Petrochemicals through its implementing agency i.e. Office of the Welfare Commissioner, Bhopal Gas Victims, Bhopal is required to create Aadhaar enrolment facilities at convenient locations in coordination with UIDAI or the existing Registrars of UIDAI or becoming UIDAI registrar themselves and the beneficiaries under the Scheme may register their request for enrolment by giving their name, address, mobile number and other details specified in the proviso to sub-paragraph (3) of paragraph 1 above with the Department of Chemicals and Petrochemicals through its implementing agency i.e. Office of the Welfare Commissioner, Bhopal Gas Victims, Bhopal or through the web portal provided for the purpose.

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

Tags : AADHAR Requirement Scheme

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Ministry of Finance 

06.03.2017

Customs

Classification of Selfie Sticks with or without Bluetooth-reg

MANU/CUST/0009/2017

The Conference of Chief Commissioners of Customs and Director Generals (03 January, 2017, New Delhi) on Customs Tariff and Allied Matters had deliberated the classification of Selfie Stick with Bluetooth. It was decided that the classification of the said item would be examined in the Board.

The issue has been examined by the Board and it is clarified that -

(i) In the light of recent review of the WCO(HS), effective from January 1st, 2017- a new heading 9620 00 00 was created vide the Finance Act, 2016.
(ii) The 2017 HS Explanatory Note for heading 96.20 provides as follows : "96.20 - Monopods, bipods, tripods and similar articles.
For the purpose of this heading, the expression "similar articles" refers to devices with four or more legs, which have the same function as monopods, bipods and tripods in reducing random movements. Selfie pods, also known as "selfie sticks", designed to be held in the hand, rather than to stand on the ground, to take self-portraits ("selfies") by positioning a smartphone, a photographic camera, a digital camera or a video camera recorder in an adjustable holder at the end of the stick, are also included in the heading, whether or not they are equipped with wired or wireless remote control for picture taking. In view of the above, the correct heading for the classification of the Selfie Stick with or without Bluetooth is 9620 00 00.

Tags : Selfie stick Classification

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Ministry of Labour and Employment

06.03.2017

Labour and Industrial

Mandatory requirement of AADHAR for individuals availing facilities under the Bonded Labour Rehabilitation Scheme

MANU/LABR/0029/2017

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 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 Labour and Employment, in the Government of India, is administering the Bonded Labour Rehabilitation Scheme (hereinafter referred to as the Scheme) for rehabilitation of bonded labourer by giving Cash and Non-cash component through the National Child Labour Project Society in the State Government or Union Territory Administration;

And whereas, the Benefits under Bonded Labour Rehabilitation Scheme involves recurring 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) (hereinafter referred to the said Act), the Central Government in the Ministry of Labour and Employment hereby notifies the following, namely:-

1.     (1) An individual eligible to receive the benefits under the Scheme hereby, is required to furnish proof of possession of Aadhaar number or undergo Aadhaar authentication.

All such eligible beneficiaries entitled to receive the benefits under the Scheme, who does not possess the Aadhaar Number or, has not yet enrolled for Aadhaar, but desirous of availing benefits under the Scheme is hereby required to make application 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 individual may visit any Aadhaar enrolment centre (list available at UIDAI's website.) to get enrolled for Aadhaar.

As per regulation 12 of Aadhaar (Enrolment and Update) Regulations, 2016, the Ministry of Labour and Employment through the National Child Labour Project Society (hereinafter referred to as NCLP Society) 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 of Labour and Employment through the National Child Labour Project Society may provide Aadhaar enrolment facilities at convenient locations in coordination with the existing Registrars of UIDAI or concerned Department in the State Governments or Union Territory Administrations by becoming UIDAI Registrar or engaging NCLP Society as enrolment agency:

Provided that, till the Aadhaar is assigned to the individuals of the Scheme, benefits under the Scheme shall be given to such individuals, subject to the production of the following identification documents, namely:-

(a)     (i) if he or she has enrolled, his or her Aadhaar Enrolment ID slip; or
(ii) a copy of his or her request made for Aadhaar enrolment, as specified in sub-paragraph (2) of Paragraph 2 below; and
(b)      (i) Voter ID card issued by the Election Commission of India; or
(ii) Permanent Account Number Card issued by Income Tax Department; or
(iii) Passport; or
(iv) Driving License issued by Licensing authority under Motor Vehicles Act, 1988(59 of 1988); or
(v) Certificate of Identity having photo issued by the Gazetted officer or Tehsildar on an official letter head; or
(vi) Ration Card; or
(vii) Kisan Photo Passbook; or
(viii) Any other document as specified by the State Government or Union territory Administration:
Provided further that the above documents shall be checked by an officer specifically designated by the Ministry of Labour and Employment for that purpose.

2. In order to provide convenient and hassle free benefits under the Scheme, the Ministry of Labour and Employment through National Child Labour Project Society shall make all the required arrangements including the following; namely:-

Wide publicity through media and individual notices through the district National Child Labour Project Society and other means, shall be given to the beneficiaries to make them aware of the requirement of Aadhaar under the Scheme and they may be advised to get themselves enrolled for Aadhaar 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 Aadhaar enrolment centres shall be made available to them.

In case, beneficiaries are not able to enrol due to non-availability of enrolment centres in the near vicinity such as in the block or Tehsil or Taluka, the Department in charge of implementation of the Scheme in the State Governments or Union Territory Administrations is required to create Aadhaar enrolment facilities at convenient locations and the beneficiaries may register their request for Aadhaar enrolment by giving their name, address, mobile number and other details as specified in the proviso to sub-paragraph (3) of paragraph (1) with their District National Child Labour Project Society or through the web portal provided for the purpose.

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

Tags : AADHAR Requirement Scheme

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