External Commercial Borrowings (ECB) denominated in Indian Rupees (INR) – Mobilisation of INR

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RBI/2014-15/608 A. P. (DIR Series) Circular No. 103 May 21, 2015 To All Category-I Authorised Dealer Banks Madam / Sir, External Commercial Borrowings (ECB) denominated in Indian Rupees (INR) – Mobilisation of INR Attention of Authorized Dealers Category – I (AD Cat – I) banks is invited to the Foreign Exchange Management (Foreign Exchange Derivative Contracts) Regulations, 20...
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Foreign Currency (Non-Resident) Account (Banks) (FCNR (B)) Scheme

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RBI/2014-15/596 A.P. (DIR Series) Circular No. 98 May 14, 2015 To All Category - I Authorised Dealer Banks Madam / Sir, Foreign Currency (Non-Resident) Account (Banks) (FCNR (B)) Scheme Attention of Authorised Dealer Category-I (AD Category-I) banks is invited to Schedule 2 of the Foreign Exchange Management (Deposit) Regulations, 2000, notified vide Notification No. FEMA 5/2000-RB dat...
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The Companies (Amendment) Bill, 2014 as compiled by the ICSI

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The Companies (Amendment) Bill, 2014 The details of the amendments are as under: 1. Requirement of minimum paid- up share capital for private and public companies is proposed to be omitted. (For ease of doing business) In terms of section 2(68) and 2(71) of the Companies Act, 2013, private companies  and public companies are required to have minimum paid-up share capital of one lakh rupees a...
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Hon’ble Supreme Court confirms the Constitution of NCLT and NCLAT under Companies Act, 2013

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Supreme Court decided following issues : (i) Challenge to the validity of the constitution of NCLT and NCLAT; (ii) Challenge to the prescription of qualifications including term of their office and salary allowances etc. of President and Members of the NCLT and as well as Chairman and Members of the NCLAT; (iii) Challenge to the structure of the Selection Committee for appointment of Preside...
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Download the Companies (Amendment)Bill, 2014 as passed by Rajya Sabha

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Stakeholders are hereby informed that the Companies Amendment Bill, 2014 has been passed in the Rajya Sabha. The same can be downloaded at the link given below. Companies_Amendment_Bill_2014_Passed_by_Rajya Sabha...
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Companies (Amendment) Bill, 2014 gets Rajya Sabha nod

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The Rajya Sabha on Wednesday cleared amendments to the Companies Act, 2013 to enhance ease of doing business in India. The bill had obtained the nod of the Lok Sabha in the last session. Replying to the debate on amending the Act, Finance and Corporate Affairs Minister said the law will be reviewed further by an expert committee to be set up shortly to see where the shoe pinches. As many as ...
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Workshop on FEMA reguations and Foreign Investments in Mumbai at Hotel Hilton 22nd May, 2015

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Foreign Exchange Management Act (FEMA) was introduced in India in 1999 which emerged as an investor friendly legislation. This act relaxed foreign exchange restrictions resulting in significant flow of investments into India over the years making it one of the most lucrative FDI destinations in the world. On the other hand Indian businesses have also been very aggressive in making investments over...
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RBI advises Banks to appoint Internal Ombudsman

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The Reserve Bank of India has advised all public sector banks and some private sector and foreign banks to appoint an internal ombudsman. The internal ombudsman would be designated Chief Customer Service Officer (CCSO), it has stated. The CCSO should not have worked in the bank in which he/she is appointed as CCSO. The Reserve Bank has taken this initiative to further boost the quality of cu...
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RBI releases article on Recent Trends in Residential Property Prices in India for comments

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The Reserve Bank of India placed on its website, an article titled ‘Recent Trends in Residential Property Prices in India: An exploration using housing loan data' based on the results of its ‘Residential Asset Price Monitoring Survey'. The Reserve Bank had initiated an information system on residential property prices through this survey, following the recommendations of the ‘Expert Gr...
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Mandatory issue of acknowledgement to pensioners on submission of life certificates

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RBI/2014-15/587 DGBA.GAD No.H- 5013/45.01.001/2014-15 May 07, 2015 The Chairman/ Chief Executive Officer All Agency Banks Dear Sir Mandatory issue of acknowledgement to pensioners on submission of life certificates In terms of extant instructions, all pensioners are required to furnish a life certificate to the pension disbursing bank every year in November for continuance of pension....
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