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As per Government of India, Ministry of Finance order No. F1/4/2012-RRB, dated 17 July 2014. The bank was sponsored by Bank of Maharashtra. The share capital of the bank was contributed by Government of India and during the administrative setup of the bank, one CGM and two general managers report to the chairman.
The Indian Financial System Code (IFS Code or IFSC) is an alphanumeric code that facilitates electronic funds transfer in India. A code uniquely identifies each bank branch participating in the three main Payment and settlement systems in India: the National Electronic Funds Transfer (NEFT), Real Time Gross Settlement (RTGS) and Immediate Payment Service (IMPS) systems.
Maharashtra State Electricity Board Holding Company Ltd. 4th Floor, HSBC Bank Building, M.G.Road, Fort, Mumbai Mumbai City 400023 0222260838 MSEBHCL@gmail.com 8 Maharashtra Small Scale Industries Corporation Ltd. Krupanidhi, 9, Walchand Hirachand Marg, Ballard Estate Mumbai City 400001 22611121 mssidcmanagingdirector@gmail.com 9
In December 2015 the first International Financial Services Centre (IFSC) in India was set up in Gujarat International Finance Tec-City (GIFT City). [5] In 2019 the Government of India enacted an Act of Parliament called the International Financial Services Centres Authority Act, 2019. [6] [7] [5]
The GST replaced existing multiple taxes levied by the central and state governments. It an indirect tax (or consumption tax) used on the supply of goods and services. It is a comprehensive, multistage, destination-based tax: comprehensive because it has subsumed almost all the indirect taxes except a few state taxes.
Pre-GST, the statutory tax rate for most goods was about 26.5%; post-GST, most goods are expected to be in the 18% tax range. The tax came into effect from 1 July 2017 through the implementation of the One Hundred and First Amendment to the Constitution of India by the Government of India . 1 July is celebrated as GST Day. [ 4 ]
National Electronic Funds Transfer (NEFT) is an electronic funds transfer system maintained by the Reserve Bank of India (RBI). Started in November 2005, the setup was established and maintained by Institute for Development and Research in Banking Technology. [1]
Punjab & Maharashtra Co-operative Bank Limited (PMC), was a multi-state co-operative bank that began operations in 1983. It had 137 branches spread over half a dozen states of India and nearly 100 branches were in Maharashtra. It was regulated by the Reserve Bank of India and registered under the Cooperative Societies Act. [1]