The Delhi Building and Other Construction Workers Welfare Cess Act, 1996, has been in effect since January 2002 throughout the National Capital Territory (NCT) of Delhi. The Honorable Lieutenant Governor of Delhi approved the deduction of labor cess at a rate of 1% on the total construction cost exceeding Rs. 10 lakh. Presently, labor cess is collected via cheque/demand draft and RTGS/NEFT at the State Bank of India, Tis Hazari, Delhi, across the 11 districts managed by the Delhi Building and Other Construction Workers Welfare Board (DBOCWWB). Additionally, cess depositors can directly remit payments to the DBOCWWB by accessing the online portal https://www.onlinesbi.sbi/sbicollect/icolect home.htim?comlD:54 since April 1, 2023, as per the Board’s communication dated April 3, 2023 (Ref: F.No.17(1182/DBOCWWB/20221424-32). As of April 1, 2024, the Competent Authority has decided that all payments for labor cess deposition will exclusively be accepted through online channels by the DBOCWWB. Offline modes of labor cess payments will be discontinued by the DBOCWWB after April 1, 2024.
RBI revised Master Direction on Risk Management and Inter-Bank Dealings
3 May 2024
Standalone Primary Dealers may borrow in foreign currency from their parent or correspondent outside India or any other entity as permitted by Reserve Bank of
