Tag Archives: revised

Customs Baggage Limit/Rules Relaxed Further to Rs.20 Lakh

Central Board of Excise and Customs has revised the upper limit for arrest and prosecution from rs.5 Lakh to Rs.20 lakh in cases of outright smuggling or mis-declaration of baggage, bringing relief to celebrities who are either arrested or prosecuted last year including Ranbir Kapoor and others at the airports. Persons involved in serious offences of tax evasion are liable ...

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RBI tightens norms for NBFCs, Issues Revised Regulatory Framework

RBI has tightened norms for non-banking financial companies (NBFCs) raising the capital adequacy requirement and the net owned fund limit, among others, to mitigate possible risks in the NBFC/microfinance sector. With a view to streamline the regulations, the RBI also revoked temporary suspension on issuance of Certificate of Registration (CoR) to companies that want to conduct business of non-banking financial ...

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