NEFT TRANSFER TO GET QUICKER AS RBI CUTS CLEARANCE TIME

The Reserve Bank has decided to slash clearance time for National Electronic Funds Transfer (NEFT) in an attempt to enhance efficiency of the electronic payment system and add to customer convenience. With regard to the same, the NEFT settlement cycle will be reduced from hourly batches to half hourly batches. “Consequently, 11 additional settlement batches […]

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AGENCY BANKS NOT TO OPEN FOR GOVERNMENT BUSINESS ON 01.04.2017

RBI has vide circular.No.BC.55/09.07.005/2016-17 dated March 24, 2017 advised all Agency Banks to keep all their branches dealing with government business open on all days in the current financial year and on April 1, 2017 (including Saturday, Sunday and all holidays). In this connection, it has been represented that the opening of bank branches on […]

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DUE DATE REMINDER- March 15, 2017

ATTENTION!! Tomorrow i.e. 15th March 2017 is the due date for the following statutory compliance: Fourth installment of Advance Tax for the Assessment Year 2017-18 in Challan No. ITNS 280 under Income Tax Act, 1961. Due date for payment of whole amount of advance tax in respect of assessment year 2017-18 for assessees covered under […]

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PARLIAMENT PASSES ENEMY PROPERTY BILL

Parliament has passed the Enemy Property (Amendment and Validation) Bill, 2016 with the Lok Sabha approving the amendments made to the Bill on 14th march 2017. The Rajya Sabha had passed the bill with some amendments on 10th March 2017. The Bill will replace the ordinance promulgated by the government. It guards against claims of […]

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