« Top Headlines » Open DEMAT Account in 24 hrs  Budget 2024 makes new income tax regime more attractive: See how much taxes you can now save  ITR filing 2024: New vs old income tax regimes, 6 key things to consider while filing your tax return  These five technical glitches may impact your Income tax return (ITR) filing. Know here  ITR filing 2023-24: How to optimise Section 80D deductions at the time of filing tax returns  ITR filing 2023-24: Top 7 mistakes to avoid for hassle-free income-tax return filing this year  Income tax returns for FY 2023-24: Keep these 8 tax law changes in mind while filing ITR this year  ITR Filing 2024: Know who can and cannot file income tax returns using ITR-1 this year  Income Tax Filing: 10 necessary guidelines that you must be aware of  Why you should file your income tax returns before July 31  What is Form 26AS? How to download Form 26AS to file Income Tax Return (ITR)  Income Tax Return: What are the alternatives to Form 16 that can be used while filing ITR? «  IFAC's International Public Sector Accounting Standards... Small cities clock smart growth in I-T collections... » ‘Legal framework to back advanced payment and settlement system’ October, 27th 2006 The Reserve Bank of India (RBI) is trying to ensure that the legal framework in the country is not lagging behind the modern developments in payment and settlement technology, RBI governor YV Reddy said, while addressing a Regional Payment Systems Workshop, in Hyderabad. He said as the Payment and Settlement Systems Bill, 2006 is under consideration of Parliament, the oversight of payment and settlement system was initiated under the RBI Regulations, 2005, which have been framed under the statutory provisions of the RBI Act. As on when the Payment and Settlement Systems Bill is enacted in Parliament, the enactment would provide a specified and dedicated legal foundation for the regulation and supervision of the payment and settlement systems as also legal recognition to netting procedures in the country. Speaking on the RTGS experience, Reddy said the experience with RTGS shows that there are immense benefits but its popularity itself can give rise to some operational issues when the system is stabilising. “The delays in closing the books by the end of the day have been reported. We are according highest priority to tackle these operational issues that have cropped up in the recent past,” he said. Also, several strategic measures may be necessary to popularise and encourage the use of RTGS by the financial intermediaries, consistent with the efficacy and capacity of the RTGS system, said Reddy.