• RESERVE BANK OF INDIA

DBOD

Notification No. DBOD.No.BL.BC.43 /22.01.009/2010-11 Dated on 28.09.2010 Financial Inclusion by Extension of Banking Services - Use of Business Correspondents (BCs)

After taking into consideration the pros and cons and based on the feedback received from various quarters, it has been decided to permit banks to engage companies registered under the Indian Companies Act, 1956, excluding Non Banking Financial Companies (NBFCs), as BCs in addition to the individuals/entities permitted earlier, subject to compliance with the guidelines.

DBOD

Notification No. DBOD.No.BP.BC.42 /21.04.141/2010-11 Dated on 27.09.2010 Restriction on grant of bank advances for financing promoters to be applicable to bank finance overseas branches/subsidiaries of Indian banks.

In terms of para 8 of Master Circular No. DBOD.Dir.BC.90/13.07.05/98 dated August 28, 1998 on 'Bank Finance against Shares and Debentures', promoters' contribution towards the equity capital of a company should come from their own resources and banks should not normally grant advances to take up shares of other companies. It also advised that these restrictions would also be applicable to bank finance to such activities by overseas branches/subsidiaries of Indian banks.

IDMD

Circular No : IDMD/1557/08.02.033/2010-11 Dated on 27.09.2010 Auction of Government of India Dated Securities to be conducted on October 1, 2010- Instructions

Government of India have offered to sell (re-issue) of (a) "7.17 percent Government Stock 2015 " for a notified amount of Rs.4,000 crore (nominal) through a price based auction using uniform price method vide Notification No.4(3)-W&M/2010 dated 27.09. 2010 (b) "8.08 percent Government Stock 2022" or a notified amount of Rs. 4,000 crore (nominal) through a price based auction using uniform price method vide Notification No.4(3)-W&M/2010(i) dated 27.09. 2010 and (c) "8.26 percent Government Stock 2027" for a notified amount of Rs. 3,000 crore (nominal) through a price based auction using uniform price method vide Notification No.4(3)-W&M/2010(ii) dated 27.09. 2010. The Reserve Bank of India at Mumbai will conduct the auctions on 01.10. 2010.

• MINISTRY OF COMMERCE AND INDUSTRY

Industrial Policy and Promotion

Notification No. GSR731(E) Dated on 07.09.2010 Trade Marks (Amendment) Rules, 2010.- Draft Rules

Amendment has done to the Trade Marks Rules, 2002 the said draft rules shall be taken into consideration after the expiry of a period of forty-five days from the date on which copies of the Gazette of India in which this notification is published, are made available to the public . Any objection or suggestion which may be received from any person with respect to the said draft rules within the period so specified shall be considered by the Central Government .

• MINISTRY OF FINANCE

CBDT

Press Release From File No. 402/92/2006-MC (42 of 2010) Dated on 28.09.2010 Due date of filing Income Tax returns for the assessment year 2010-11 and tax audit report u/s 44AB of the Income Tax Act 1961 extended up to 15.10.2010

The Central Board of Direct Taxes have extended the due date of filing income tax returns for the assessment year 2010-11 from 30th September 2010 up to 15th October 2010. The due date has been extended in view of disturbance to general life caused by floods. Accordingly, the due date for obtaining tax audit report under Section 44AB also stands extended to 15th October 2010. The due date for the state of Jammu and Kashmir shall, however, remain 30 th November 2010 as extended earlier.

Order No. 225/72/2010-ITA.II Dated on 27.09.2010 Order under Section 119 of the Income Tax Act, 1961 - Extension of last date of filing ITR in Audit Case to 15th October 2010

After consideration of the reports of disturbance of general life caused due to floods and heavy rains, the Central Board of Direct Taxes, in exercise of powers conferred under section 119 of the Income Tax Act, 1961, hereby extends the due date of filing of returns of income for the Assessment Year 2010-11 from 30.09.2010 to 15th October 2010.

CBEC Customs

Notification No. 7/2010 Dated on 21.09.2010 Amendments in the notification No.41/99-Customs, dated the 28th April, 1999.

In exercise of the powers conferred by sub-section (1) of Section 25 of the Customs Act, 1962 (52 of 1962), the Central Government, on being satisfied that it is necessary in the public interest so to do, hereby makes the following further amendments in the notification of the Government of India in the Ministry of Finance (Department of Revenue), No.41/99-Customs, dated the 28th April, 1999, which was published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i) vide number G.S.R. 289(E), dated the 28th April, 1999 .

Circular No. 37/2010 Dated on 24.09.2010 Illegal use of Satellite Phones in India attracts penal provisions - Instructions.

Attention is invited to the existing guidelines of Department of Telecommunications (DOT), Ministry of Communications and Information Technology, Government of India whereby use of any kind of satellite phone in India is permissible only after obtaining a licence from the DOT. Presently, use of specific types of INMARSAT terminal only permitted by the DOT, while use of 'Thuraya' satellite phone in India without specific permission of DOT is illegal. Thus, unauthorized use of a satellite phone in India attracts penal provisions under section 20 and 21 of the Telegraph Act, 1885 for violation of provisions of section 4 of the said Act.

• PRESS INFORMATION Bureau

Dated 03.09.2010 BIS Bureau of Indian Standards) Certification Mandatory for Packaged Drinking Water

As per the Quality Control Order issued under Prevention of Food Adulteration (PFA) Rules, 1955, Bureau of Indian Standards has formulated the following Indian Standards which provide quality norms for packaged water:

i) IS 14543:2004 Packaged drinking water (other than natural mineral water) (First Revision)

ii) IS 13428: 2005 Packaged natural mineral water (Second Revision)

Implementation of the PFA Act and Rules framed under the Act is the responsibility of State Governments and Union Territory Administrations.

Dated 23.09.2010 Central Monitoring Committee on Child Labour calls for an urgent need of realignment of NCLP Scheme with Right to Education Act, 2009

The Meeting of the Central Monitoring Committee on Child Labour was held under the Chairmanship of Secretary (Labour & Employment) in New Delhi earlier this week on 20.09.2010. Shri A.C. Pandey said that there is an urgent need of realignment of National Child Labour Projects (NCLP) Scheme in the light of provisions of Right to Education Act, 2009.

• MINISTRY OF ECONOMIC AFFAIRS

Notification No. SO2257(E) Dated on 13.09.2010 Dr. Thomas Mathew appointed as Joint Secretary in Department of Economic Affairs, Ministry of Finance

In exercise of the powers conferred by sub-section (1) of the Section 9 of Unit Trust of India (Transfer of Undertaking and Repeal) Act, 2002 (No. 58 of 2002), the Central Government hereby appoints Dr. Thomas Mathew, IAS (KL:83), Joint Secretary, Department of Economic Affairs, Ministry of Finance on the Board of Advisors vice Dr. K. P. Krishnan to advise and assist the Administrator in carrying on the management of the Specified Undertaking of Unit Trust of India, with immediate effect.