NSE has mandated Filing of Board Meeting Compliance on NEAPS Platform for all listed companies.
This has reference to circulars issued by the Exchange for Filing of Information on Electronic Platform. In line with the Principles of Corporate Governance enunciated in Chapter II of Listing Regulations and to provide information to shareholders without any loss of time, the Exchange is pleased to introduce seamless announcement filing mechanism for Board Meeting related compliance on NEAPS platform. For the benefit of investors and market, the information filed under Board Meeting Module shall also be disseminated directly on the website without Exchange intervention. Under this seamless system, the information will get disseminated as has been filed by listed entity. Listed entity shall exercise due care while filing the announcement and shall be solely answerable for the announcement
EPFO cuts interest rate to five-year low, to pay 8.55% on deposits
EPFO interest rate: For the previous year, EPFO paid an interest rate of 8.65 per cent. The year before, it paid 8.8 per cent and 8.75 per cent in 2013-15. In 2012-13, it paid an interest rate of 8.5 per cent.
The Central Board of Trustees of the Employees’ Provident Fund Organisation (EPFO) Wednesday recommended slashing the interest rate for its 5-crore subscribers to a five-year low of 8.55 per cent for the current financial year of 2017-18 from 8.65 per cent last year. Labour and Employment Minister Santosh Gangwar said that at a rate of 8.55 per cent, the EPFO will have a surplus of Rs 586 crore. “Hopefully, the Finance Ministry will give its nod,” Gangwar told reporters after the Board’s 220th meeting in New Delhi.
PNB scam: DGFT to examine violations by Nirav Modi, Mehul Choksi firms
The DGFT grants an advanced licence to companies for availing of benefits under duty exemption schemes
The Directorate General of Foreign Trade (DGFT) has initiated an internal probe to examine whether companies belonging to Nirav Modi and Mehul Choksi, the prime accused in the Rs 114 billion Punjab National Bank (PNB) fraud case, followed foreign trade guidelines while taking loans from banks.DGFT Director-General Alok Vardhan Chaturvedi has directed officials to examine if the two groups of companies enjoyed benefits of any export promotion schemes.
“The DGFT will examine whether duty exemption and remission schemes have been violated, enabling duty-free import of raw materials for export production,” an official said on condition of anonymity, adding that companies were required to meet some commitments towards export of goods after availing of the facility.
The DGFT, which functions under the Ministry of Commerce and Industry, grants an advanced licence to companies for availing of benefits under duty exemption schemes.Under the Reserve Bank of India (RBI) guidelines, overseas banks are required to conduct due diligence on requests by importers to see if genuine trade transactions are taking place in accordance with DGFT norms.
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