Latest Expert Exchange Queries
sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
 
 
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Service Tax | Sales Tax | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Indirect Tax | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing
 
 
 
 
Popular Search: VAT RATES :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: cpt :: ARTICLES ON INPUT TAX CREDIT IN VAT :: Central Excise rule to resale the machines to a new company :: TAX RATES - GOODS TAXABLE @ 4% :: due date for vat payment :: VAT Audit :: articles on VAT and GST in India :: ACCOUNTING STANDARDS :: empanelment :: TDS :: ACCOUNTING STANDARD :: list of goods taxed at 4% :: form 3cd
 
 
« Indirect Tax »
 Should you opt for 'consultant' status to lower tax outgo?
 Income Tax department to issue ‘non-statutory’ letters in case of no reply
 E-commerce majors seek removal of tax at source on sellers
 New direct tax regime would benefit state
 Indirect tax collections increase by 16.9 per cent in January
 Tax officers to file self-appraisal report on e-assessment
 How are you saving tax this season? 10 funds saved tax & delivered 30% returns too
 Increase in taxpayer base will help bring down tax rate, says Arun Jaitley
 There is inconsistency in filing income tax, says CBDT Chairman
 Data analytics to help income tax dept catch evaders
 Tax officers to maintain digital records of summons, notices

RBI-Deregulation of Interest Rates on Non-Resident (External) Rupee (NRE) Deposits
December, 02nd 2013

RBI/2013-14/387
DBOD. No. Dir. BC.71/13.03.00/ 2013-14

November 29, 2013

All Scheduled Commercial Banks
(Excluding RRBs)

Dear Sir/ Madam

Deregulation of Interest Rates on Non-Resident (External) Rupee (NRE) Deposits

Please refer to our circular DBOD. Dir. BC. 40/13.03.00/2013-14 dated August 14, 2013 allowing banks the freedom to offer interest rates on incremental NRE deposits with maturity of 3 years and above without any ceiling in order to pass on the benefit of exemption provided on such deposits from CRR/ SLR requirements. In terms of para 4 thereof, these instructions are valid up to November 30, 2013, subject to review.

2. In this connection, we advise that the above instructions issued vide circular under reference will remain unchanged till January 31, 2014, subject to review.

3. An amending directive DBOD.Dir.BC.70/13.03.00/2013-14 dated November 29, 2013 is enclosed.

Yours faithfully,

(Rajesh Verma)
Chief General Manager

Encl: As above


DBOD.Dir.BC. 70/13.03.00/2013-14

November 29, 2013

Deregulation of Interest Rates on Non-Resident (External) Rupee (NRE) Deposits

In exercise of the powers conferred by Section 35A of the Banking Regulation Act, 1949, and in modification of the directive DBOD. Dir. BC. 39/ 13.03.00/ 2013-14 dated August 14, 2013 on Deregulation of Interest Rates on Non-Resident (External) Rupee (NRE) Deposits, the Reserve Bank of India being satisfied that it is necessary and expedient in the public interest so to do, hereby directs that instructions issued vide directive referred to above will remain unchanged till January 31, 2014, subject to review.

(B. Mahapatra)
Executive Director

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Binarysoft Technologies - Company Overview

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions