Corporate Updates – 25-11-2016


RBI has directed Banks to stop accepting old currency notes of Rs 500 and Rs 1,000 as deposits for small savings schemes, such as the Public Provident Fund (PPF) with immediate effect. The small savings schemes include post office deposits, Public Provident Fund, Senior Citizen Savings, National Savings Certificate and Sukanya Samriddhi Scheme. Further, the Ministry of Finance has clarified that individuals can deposit Rs 500 and Rs 1,000 notes in post office savings accounts.


SEBI in its Board Meeting has eased norms for angel funds, allowing them to invest in up to five year old start-ups. In effect, lock-in requirements have been eased to one year from three years for angel funds and has cut their minimum investment threshold from Rs 50 lakh to Rs 25 lakh. SEBI has also allowed angel funds to invest in overseas venture capital undertakings up to 25% of their investible corpus in line with other Alternative Investment Funds (AIFs). Further, the upper limits of number of angel investors have been increased from 49 to 200.

News from NIRC of ICSI

Registration open for Master Classes on “GST – Goods& Service Tax” to be held from 13th December, 2016 to 17th December, 2016 daily from 5 PM onwards at Auditorium, ICSI-NIRC Building, 4, Prasad Nagar Institutional Area, New Delhi. Fee : Rs. 750/- for all participants including Corporate Members of NIRC; Online Payment / Registration Facility Available; Program Credit Hours: 02 per day.

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