The export of coir and coir products has shown an increase to the tune of 37 percent in terms of value and 17.6 percent in terms of quantity during the year 2020-21, compared to 2019-20. February 4th, 2022 Posted By: Team-MMTaxClub News & Updates
RBI Rolls Out Major Measures to Strengthen Cooperative Banks CBDT Invites Stakeholder Inputs on Proposed Income-tax Rules & Forms under Income-tax Act, 2025 RBI Monetary Policy February 2026: Repo Rate Unchanged at 5.25%, Neutral Stance Continues RBI’s Big Relief for Small Digital Fraud Victims: What You Need to Know ED Files Prosecution Complaint in Inter-State Drug Trafficking & Money Laundering Case ED Files Money Laundering Case Against Ex-Principal of RG Kar Medical College DGFT Amends Import Policy for Umbrellas under ITC (HS) 2022 Import Policy Update: Platinum Articles Now Restricted (ITC HS 71141920) ED Arrests Former Rajasthan MLA Baljeet Yadav in ₹2.87 Crore MLA-LAD Funds Scam ED Arrests Former Resolution Professional in ₹236 Crore Bank Fraud Linked to Richa Industries Tax Reforms to Boost India’s Manufacturing Sector – Union Budget 2026–27 Preface of Economic Survey 2025–26: Running a Marathon Like a Sprint Monthly Review of Government of India Accounts Position as on December 2025 (FY 2025–26) Monthly Review of Government of India Accounts Position as on December 2025 (FY 2025–26) DRI Busts Mobile Mephedrone Lab in Sahyadri Ranges Under “Operation Sahyadri Checkmate” RBI Extends Regulatory Restrictions on Irinjalakuda Town Co-operative Bank Till April 30, 2026 RBI Announces Fresh Liquidity Injection Measures to Stabilise Markets Central Government Approves Wage and Pension Revision for PSGICs, NABARD and RBI Employees & Pensioners Customs Brokers Licensing Examination (CBLE) 2026 – Important Update Sovereign Gold Bond (SGB) 2018-19 Series V: Premature Redemption Price Announced for January 2026 RBI Extends Restrictions on Konark Urban Co-operative Bank, Ulhasnagar Till April 23, 2026 NPS Vatsalya: A Smart Way to Secure Your Child’s Financial Future from an Early Age Massive Drug Bust in Madhya Pradesh: CBN Seizes 31.25 kg of MD Powder, Dismantles Illegal Lab DFS Secretary Reviews Performance of Public Sector Insurance Companies Special Campaign 5.0: DFS Launches Swachhata Drive with Focus on Digitalization & Customer Care Frequently Asked Questions (FAQs-3) on Key Decisions of the 56th GST Council Meeting September 30, 2025 – Last Date to Opt for Unified Pension Scheme (UPS) Empowering MSMEs: Opportunities, Challenges and the Road Ahead India’s Sovereign Rating Upgraded to BBB+ (Stable) by Rating and Investment Information, Inc. (R&I), Japan Celebrating four years of launch of the Account Aggregator Ecosystem - India’s Digital Public Infrastructure (DPI) Auction for Sale (re-issue) of (i) ‘5.91% GS 2028’ and (ii) ‘6.33% GS 2035’ Comprehensive reforms taken up to instill credit discipline in PSBs Auction for Sale (issue/ re-issue) of (i) “6.68% Government Security 2040” and (ii) “6.90% Government Security 2065” Atal Pension Yojana (APY) Achieves Major Milestone, Gross Enrolments Surpass 8 Crore No directions given to Banks to close inactive PM Jan Dhan Yojana accounts: Department of Financial Services, M/o Finance New Countervailing Duty Alert: Copper Wire Rod Imports from 4 Countries India Charts a New Course Towards Export-Led Growth – Highlights from Exim Bank’s Trade Conclave 2025 Union Finance Minister Smt. Nirmala Sitharaman to Attend ADB’s 58th Annual Meeting in Milan, Italy (May 4–7, 2025) Advisory on Reporting Values in Table 3.2 of GSTR-3B (Effective April 2025 Onwards) DRI Busts Major Meth Trafficking Operation in Mizoram — 52.67 kg Seized! Major Drug Bust at IGI Airport: DRI Seizes Cocaine Worth ₹75.6 Crore from Passenger Arriving from Dubai Celebrating 10 Years of Empowering Small and Micro Entrepreneurs: The Pradhan Mantri Mudra Yojana (PMMY) First International Research Conference on Pension (IRCP) 2025 Concludes with Global Participation and Insightful Discussions 9 Years of Stand-Up India: Turning Aspirations into Achievements Introducing Electronic Processing for Personal Carriage of Import/Export by Air Passengers Starting May 2025 Cabinet Approves Additional Instalment of Dearness Allowance and Dearness Relief (Effective from 01.01.2025) Monthly Review of Accounts: Government of India (Up to February 2025, FY 2024-25) Government of India and Government of Japan sign loan agreements worth JPY 191.736 billion for six projects under Japan’s Official Development Assistance to India RBI to Inject $10 Billion via Forex Swap to Ease Liquidity Crunch Summary of Union Budget 2025-26: Key outcomes HIGHLIGHTS OF UNION BUDGET 2025-26 EPFO Simplifies Online Process for Member Profile Updation EPFO Simplifies PF Transfer Process to Enhance Service Delivery and Ensure Ease of Living for Members 111th EPF Executive Committee Meeting Focuses on Key Reforms and Enhancements in Member Services The Injustice of Taxing Crypto Gains Without Regulation: The Case of WazirX Scams and Unprotected Investors The WazirX Saga: Updates and Insights into Alleged Scams and Controversies RBI imposes monetary penalty on Jila Sahakari Kendriya Bank Maryadit, Mandsaur, Madhya Pradesh RBI imposes monetary penalty on Andhra Pragathi Grameena Bank, Andhra Pradesh Union Finance Minister Smt. Nirmala Sitharaman to leave tonight for an official visit to Mexico and USA from 17th to 26th October 2024 CBDT issues Frequently Asked Questions (FAQs) on Direct Tax Vivad Se Vishwas Scheme, 2024, to provide clarity Recommendations during 54th meeting of the GST Council Record 7.28 crore ITRs filed for AY 2024-25 till 31st July, 2024 Government to implement 3 schemes for ‘employment linked incentive’ as part of the prime minister’s package Gst a success of vast proportions, decreased tax incidence on common man: finance minister CAPITAL GAINS TAXATION SIMPLIFIED AND RATIONALISED Directions under Section 35A read with Section 56 of the Banking Regulation Act, 1949 – Padmashri Dr. Vithalrao Vikhe Patil Co-operative Bank Limited, Nashik, Maharashtra – Extension of Period Central Board of Indirect Taxes and Customs ADD on Pentaerythritol Exemption from sub section 1 of section 7 of the Banking Regulation Act, 1949 Auction for Sale (re-issue) of (i) ‘7.32% GS 2030’ and (ii) ‘7.30% GS 2053’ Auction for Sale (re-issue) of (i) ‘7.33% GS 2026’, (ii) ‘7.23% GS 2039’ and (iii) ‘7.34% GS 2064’ CBDT Amendment of Notification dated 06.09.2018 raising the pecuniary jurisdiction of DRT. CCI approves subscription to compulsory convertible debentures of Napino Auto and Electronics Limited by IFC Auction for Sale (re-issue) of (i) ‘7.10% GS 2034’ and (ii) ‘7.46% GS 2073’ RBI imposes monetary penalty on The Nakodar Hindu Urban Co-operative Bank Limited, Nakodar Launching of 41st Round of Quarterly Services and Infrastructure Outlook Survey (SIOS) Q1:2024-25 RBI imposes monetary penalty on Jogindra Central Co-operative Bank Ltd., Solan, Himachal Pradesh Payroll Data: EPFO adds 15.48 lakh net members during February 2024 CBDT signs record number of 125 Advance Pricing Agreements (APAs) in FY 2023-24 Authorisation of Chairperson of DRAT, Chennai regarding discharging the functions of Chairperson, DRAT, Mumbai. Auction for Sale (issue/ re-issue) of (i) ‘7.37% GS 2028’ and (ii) ‘New GS 2064’ RBI announces Decision on two applications received under Guidelines for ‘on tap’ Licensing of Small Finance Banks 7th round of the India-Peru Trade Agreement Negotiations concludes in New Delhi Sixteenth Finance Commission (XVIFC) invites applications for Young Professionals (YPs)/Consultants on contract basis DGFT notified timelines and Procedures for registration under the Import Monitoring System (MS-IMS) for import of Melon Seeds Auction for Sale (issue/ re-issue) of (i) ‘7.32% GS 2030’, (ii) ‘New GS 2039’ and (iii) ‘7.30% GS 2053’ Second highest monthly Gross GST Revenue collection in March at ₹1.78 lakh crore; Records 11.5% y-o-y growth (18.4% on net basis) Government’s Borrowing plan for first half of FY 2024-25 Rate of interest on Government of India Floating Rate Bond 2033 Omnibus Framework for recognition of Self-Regulatory Organisations for Regulated Entities of the Reserve Bank RBI imposes monetary penalty on Karad Urban Co-operative Bank Ltd., Karad RBI imposes monetary penalty on Jila Sahakari Kendriya Bank Maryadit, Sehore, Madhya Pradesh Premature redemption of a part of outstanding stock of Non-interest bearing Government of India IDBI Special Security, 2024. General Elections to Legislative Assemblies of Arunachal Pradesh and Sikkim, 2024 -Deployment of Expenditure Observers RBI imposes monetary penalty on Tamilnad Mercantile Bank Limited Central Govt. further amended notification no. 50/2017-Customs, dated the 30th June, 2017 for EV’s Central Government reconstitutes an Advisory Board for a period of one year under Foreign Exchange and Prevention of Smuggling Activities Act Government approves E- Vehicle policy to promote India as a manufacturing destination for EVs Government approves E- Vehicle policy to promote India as a manufacturing destination for EVs Highest monthly merchandise exports, in the current FY so far, recorded in February 2024 DRI’s busts major gold smuggling syndicate; seizes over 61 kg gold worth Rs. 40 crore in a Pan-India Operation ‘Rising Sun’ MHA decides to extend financial support of 50% on GST on purchase of goods from Kendriya Police Kalyan Bhandar as a welfare measure Ghaziabad Restaurant Fined for Illegally Imposing Extra Service Charge on Doon Resident India-EFTA Trade and Economic Partnership Agreement Income Tax Department to mount e-campaign for Advance Tax e-campaign for F.Y. 2023-24 MCA revises threshold limits for value of Assets and Turnover for purposes of combination filings under Competition Act, 2002 CBIC Encouraged Women participation in International Trade CCI notifies three distinct regulations on determination of turnover, settlement, commitment and penalty guidelines in relation to an enterprise PFRDA inaugurates app to widen financial inclusion through fintech and to boost NPS DGFT amends the import policy condition for Duck Meat in Chapter 2 of ITC (HS) 2022, Schedule–I (Import Policy) Revised Registration Timelines and Procedures for Import of Yellow Peas under YP-IMS Post-March 31, 2024 at Indian Ports Directions under Section 35 A read with section 56 of the Banking Regulation Act, 1949 (As Applicable to Co-operative Societies) – Pune Sahakari Bank Ltd., Shivajinagar, Pune, Maharashtra DGFT notifies Export of Onions (under HS code 0703 10 19) to Bhutan, Bahrain and Mauritius through NCEL Reconstitution of Central Advisory Board under PITNDPS Act 1988 Government transfer of five cases from DRAT Delhi to DRAT Mumbai Repayment of 8.35% SBI RTS ISU GOI SPL Bond 2024 CBI has arrested six persons including two NHAI Officers, in bribery of Rs.20 lakh; recovers Rs 1.1crore Filed bank officer arrested to taking Rs.7000/- bribe in UP RBI received 97.62% of the ₹2000 banknotes as on February 29, 2024, ₹8470 crore yet to come back Progress of NEFT and RTGS Systems, highest number of transactions processed in a day so far DGFT Notified the Export of Onions (under HS code 0703 10 19) to Bangladesh. Financial Intelligence Unit-India (FIU-IND) imposes penalty of Rs. 5,49,00,000 on Paytm Payments Bank Ltd with reference to violations of its obligations under PMLA Union Minister for Finance and Corporate Affairs Smt. Nirmala Sitharaman virtually launches seven infrastructure projects worth over Rs, 1,000 crore from New Delhi Union Finance Minister Smt. Nirmala Sitharaman virtually presides over handing-over ceremony of 101 antiquities seized by Customs to the Archaeological Survey of India (ASI) Union Finance Minister Smt. Nirmala Sitharaman virtually presides over handing-over ceremony of 101 antiquities seized by Customs to the Archaeological Survey of India (ASI) Implementation of Electronic Cash Ledger (ECL) for payment of Import duties Union Finance Minister Smt. Nirmala Sitharaman launches Electronic Data Interchange (EDI) at remote Land Customs Stations in North Eastern States ED Conducted search operations under PMLA at 10 locations in Mumbai, Chennai and Kochi ED has attached immovable property in the form of land of Kesari Satish, an employee of Department of Posts, to the extent of Rs. 3.26 Lakh under the provisions of Prevention of Money Laundering Act (PMLA), 2002. Customs Commissionerate, Indore (Bhopal Zone) disposes off 40.86 lakhs sticks of Smuggled foreign origin Cigarettes, Cigars and Rolling Paper, valued at Rs. 3.89 Crores at Raipur Download ICAIs 2024 Bank Branch Audit Excel Utility for Streamlined Auditing Designated court sentences then branch manager of UCO bank to 05 years’ rigorous imprisonment Designated courts at Ahmedabad and Madurai sentence five accused including then income tax officer to three years rigorous imprisonment with fine PFRDA notifies amendments to Retirement Adviser (RA) regulations for Good Governance and ease of compliance PFRDA notifies amendments to Retirement Adviser (RA) regulations for Good Governance and ease of compliance Financial Literacy Week 2024 and Financial Literacy Ideathon Directions under Section 35A read with Section 56 of the Banking Regulation Act, 1949 – Shankarrao Mohite Patil Sahakari Bank Ltd., Akluj, Maharashtra – Extension of Period RBI imposes monetary penalty on G P Parsik Sahakari Bank Ltd., Thane RBI imposes monetary penalty on Transport Co-operative Bank Ltd., Indore, Madhya Pradesh RBI imposes monetary penalty on Janseva Co-operative Bank Limited, Nashik, Maharashtra RBI imposes monetary penalty on Hanamasagar Urban Co-operative Bank Ltd., Hanamasagar, Karnataka Action against Paytm Payments Bank Ltd under Section 35A of the Banking Regulation Act, 1949 – Additional Steps Directions under Section 35A read with Section 56 of the BR Act 1949 (AACS) - Thodupuzha Urban Co-operative Bank Ltd, Kerala - Extension of period DGFT suspends inactive Standard Input-Output Norms (SIONs) from April 1, 2024 Government proposes to increase Multi sector SEZ at panapakkam village, Ranipet District, Tamil Nadu CBIC notified Public Tech Platform for Frictionless Credit for Enhanced Credit Ecosystem Sharing What is Public Tech Platform for Frictionless Credit CBI arrests an enforcement officer, EPFO for accepting a bribe of rupees Two lakh PFRDA notifies amendments to National Pension System Trust (NPST) and Pension Fund Regulations for Good Governance Cabinet approves amendment in the Foreign Direct Investment (FDI) policy on Space Sector MoF notified reporting entities to perform aadhar authentication service under PMLA APEDA formulates roadmap to push organic exports from Uttarakhand and Sikkim CBIC removes the end date on export duty on Parboiled Rice and prescribes specific conditions on imports of Yellow Peas India’s demographic dividend to spur economic partnerships with European countries: Sh. Goyal Union Finance Minister chairs 28th meeting of Financial Stability and Development Council (FSDC) in New Delhi PFRDA notifies amendments to National Pension System Trust (NPST) and Pension Fund Regulations for Good Governance MCA issued circular on Deployment and usage of Change Request Form (CRF) on MCA-21 MCA notified enforcement date of section 33 of Competition (Amendment) Act, 2023 CBIC amended Custom Notification No11/2021 to include goods under heading 5201 Key Highlights of the Assam Budget 2024-25 India on track to become $35 trillion, fully developed economy by 2047: Shri Piyush Goyal Government will appoint Member to the 16th Finance Commission in lieu of Dr. Niranjan Rajadhyaksha APEDA facilitates export of Bananas from India to Moscow, Russia via Sea DFS Secretary chairs conference of heads of Debt Recovery Appellate Tribunals (DRATs) and Presiding Officers of Debt Recovery of Tribunals (DRTs) in New Delhi APEDA catapults agricultural exports from modest USD 0.6 billion exports in FY1987-88 to USD 26.7 billion in FY 2022-23 Supreme Court issued new procedure for Adjournment Request Action against Paytm Payments Bank Ltd under Section 35A of the Banking Regulation Act, 1949 Payment Intermediary by Card Network – Restraining of Unauthorized Payment System Terms of Reference signed between Reserve Bank of India and Nepal Rastra Bank on Integration of Unified Payments Interface (UPI) of India with National Payments Interface (NPI) of Nepal for cross-border remittances India’s merchandise exports in Jan 2024 registers 3.12 % growth at USD 36.92 Billion over USD 35.80 Billion in Jan 2023 Ministry of Defence records ₹1 lakh crore total order value on Government e-Marketplace since portal’s inception 16th Finance Commission holds first meeting under Chairmanship of Dr. Arvind Panagariya in New Delhi Ministry of Defence records ₹1 lakh crore total order value on Government e-Marketplace since portal’s inception Index Numbers of Wholesale Price in India for the Month of January, 2024 (Base Year: 2011-12) Medical Benefits to be extended to superannuated Insured Persons with relaxed norms under ESIC The Central Board Trustees (CBT) EPF recommends 8.25 % rate of interest to EPF subscribers for FY2023-24 Nine NBFCs and One HFC surrender their Certificate of Registration to RBI RBI cancels Certificate of Registration of Three NBFCs Department of Telecom blocks about 1.4 lakh mobile handsets linked to financial frauds Total approved funding of Rs 802.98 crore as on 31st December 2023 provided to startups DPIIT coordinates initiatives for Ease of Doing Business creating a conducive business environment The Government of India is committed to promote Agri-startups by providing financial and technical support Govt. releases states of increase in income of farmers on implementation of various schemes Capacity Building Maldivian Civil Servants: The NCGG achieves the milestone of training 1000 civil servants of Republic of Maldives Publication for notifying manufactured drugs, psychotropic substances and their small and commercial quantities Contribution of MSME Sector in GDP in last five years RBI releases the results of Forward Looking Surveys RBI imposes monetary penalty on The Nakodar Hindu Urban Cooperative Bank Ltd., Nakodar, Dist. Jalandhar, Punjab RBI imposes monetary penalty on Zoroastrian Co-operative Bank Ltd., Mumbai RBI imposes monetary penalty on Bombay Mercantile Co-operative Bank Ltd RBI imposes monetary penalty on The Navnirman Co-operative Bank Ltd., Ahmedabad, Gujarat 65th Meeting of Network Planning Group under PM GatiShakti evaluates five infrastructure projects RBI Governor’s Statement on Monatory Policy: February 8, 2024 Monetary Policy Statement, 2023-24 Resolution of the Monetary Policy Committee (MPC) February 6 to 8, 2024 DPIIT coordinates initiatives for Ease of Doing Business creating a conducive business environment Reserve Money for the week ended February 02, 2024 and Money Supply for the fortnight ended January 26, 2024 APEDA promotes export of agricultural products, including millets, from India Govt. cognizant of importance of supply chain and effective logistics for improved resilience in domestic production and trade Credit for Micro Small and Medium Enterprises Development of MSME in the country Authorisation of Chairperson of DRAT Mumbai discharging the functions of Chairperson DRAT Delhi Indian Toy Makers receive huge orders at Germany’s Nuremberg International Toy Fair Shri Goyal emphasizes on importance of production of high-quality goods ensuring benefits extend to both businesses and consumers RBI cautions against frauds in the name of KYC updation Premature redemption under Sovereign Gold Bond (SGB) Scheme - Redemption Price for premature redemption due on February 05, 2024 (Series I of SGB 2016-17) Final redemption under Sovereign Gold Bond (SGB) Scheme - Redemption Price for final redemption of SGB 2016-I due on February 08, 2024 Filing of the MCA eForm may be impacted from 3rd February 2024, 14:00 PM to 5th February 2024, 06:00 AM Download PDF copy of interim budget 2024 Finance Minister Speech HIGHLIGHTS OF THE INTERIM UNION BUDGET 2024-25 SUMMARY OF THE INTERIM UNION BUDGET 2024-25 Budget 2024: Budget Proposes to Establish a Corpus of Rupees One Lakh Crore For Youth Empowerment of Women Through Entrepreneurship, Ease of Living, And Dignity For Them Has Gained Momentum: Finance Minister Interim Budget 2024: Average Monthly Gross GST Collection Doubles To ₹1.66 Lakh Crore Government Committed to Empower Amrit Peedhi - The Yuva : Union Finance Minister Poor, Women, Youth And Farmer are the Four Major Castes of Focus For The Government: Union Finance Minister Rs. 75,000 Crore Worth 50-Year Interest Free Loan to States to Realise Vision Of ‘Viksit Bharat Interim Budget 2024: Government Focused on More Comprehensive GDP - Governance, Development and Performance Interim Budget 2024: Government Committed to Strengthen and Expand Economy With High Growth Action against Paytm Payments Bank Ltd under Section 35A of the Banking Regulation Act, 1949 Lending and Deposit Rates of Scheduled Commercial Banks – January 2024 Commemorative Coin on 125th Birth Anniversary of Shri Ram Chandraji of Shahjahanpur DPIIT organizes nationwide ‘One District One Product Sampark’ events to spur local e-commerce growth, promote artisans and farmers Government appoints Members of the Sixteenth Finance Commission DGFT organizes National Conference on Strategic Trade Controls RBI imposes monetary penalty on Bhilai Nagrik Sahakari Bank Maryadit, Bhilai, Chhattisgarh RBI imposes monetary penalty on Dr. Panjabrao Deshmukh Urban Co-operative Bank Limited, Amravati, Maharashtra Standing Liquidity Facility for Standalone Primary Dealers ED has provisionally attached assets worth Rs. 58.82 Crore belonging to Padam Singhee, and M/s Max Tech Oil & Gas Services Pvt Ltd ED investigation press release on Lalu Yadav family in Land for Job Scam CBIC amended Notification No. 50/2017-Customs, dated the 30th June, 2017 Govt. of India working in mission mode to develop robust quality ecosystem in India CBIC celebrates International Customs Day-2024 with theme of ‘Customs engaging traditional and new partners with purpose’ in New Delhi In the Aadhaar (Sharing of Information) Regulations, DGFT to discuss trade regime of dual-use goods, software and technology on Jan 30 Final stage of preparations for Interim Union Budget 2024 commences with Halwa Ceremony Government allows direct listing of securities by public Indian companies on International Exchanges of GIFT IFSC CBIC notified Non-Levy of Customs Duty on the import of hearables Goods for the period February 01, 2022 to April 27, 2023 u/s 28A of the Customs Act CBIC notified Non-Levy of Customs Duty on the import of wearables Goods for the period February 01, 2022 to April 27, 2023 u/s 28A of the Customs Act CBIC imposes Additional Duty on import of gold or silver falling under entry 7112, 7113 and 7118 Department of Revenue Notify reporting entity to perform aadhar authentication KVIC launches Khadi Sanatan Vastra from its flagship store in Connaught Place PFRDA notifies PoP Regulations requiring only one registration for National Pension System Department of Revenue, invites suggestions on draft Indian Stamp Bill, 2023 ED has conducted follow up search operations on 16.01.2024 at 8 locations in Jaipur & Banswara districts of Rajasthan under the Provisions of Money Laundering Act, 2002 (PMLA) in the Jal Jeevan Mission Scam. ED has provisionally attached properties worth Rs. 5 Crore approx. under the provisions of Prevention of Money Laundering Act (PMLA), 2002 in the case of Mohammad Akbar Bhat and others in relation to terrorist activities.
