Know Your Customer norms : Creating Public Awareness

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RBI/2014-15/233 UBD. BPD (PCB).Cir.No.16/14.01.062/2014-15 September 16, 2014 The Chief Executive Officer All Primary (Urban) Co-operative Banks Madam/Dear Sir, Know Your Customer (KYC) Norms – Creating Public Awareness The Reserve Bank of India, in the recent times, has been taking several measures to simplify KYC requirements to help the common man open bank accounts. It is, howev...
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Seminar on “IT AND TECHNOLOGY CONTRACT” by VC Circle at Bengaluru

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IT & Technology contracts are subject to the same statutes and principles of common law as any other lawful contract. There are, however, several unique features of information technology contracts which have compelled the courts to give such contracts special legal consideration. This highly practical workshop will enhance your both technical and practical skills of drafting and negoti...
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Amendments in Clause 49 of the Listing Agreement

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The Securities and Exchange Board of India has issued a circular in continuation of circular dated 17th April, 2014 w.r.t amendments made in clause 35B and 49 of the listing agreement. Also, further the Ministry of Corporate Affairs has issued various circulars after the commencement of the Companies Act, 2013 with regard to the appointment and qualification of directors, related party transaction...
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Companies (Corporate Social Responsibility) Amendment Rules, 2014

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The Ministry of Corporate Affairs has  issued Companies (Corporate Social Responsibility) Amendment Rules, 2014 dated 12th September, 2014 by making amendment in Sub-rule 6 of rule 4 of the Companies (Corporate Social Responsibility) Rules, 2014. The amended sub-rule 6 shall be as follows: Companies may build CSR capacities of their own personnel as well as those of their Implementing agen...
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FICCI survey concluded Indian Economy to grow at 5.6%in 2014-15

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The MODI led BJP government at ruling which has the objective of restoration of growth and good governance has given very positive results after the completion of initial 100 days. The confidence amongst the investors has increased and hope that will go ahead in line with the implementation of objectives of the new government. Also, the Reserve Bank of India is not likely to cut the interest ra...
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SEBI (ICDR) Second Amendment Regulations, 2014: Anchor Investors and Preferential Issues

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The Securities and Exchange Board of India issued SEBI (Second Amendment) Regulations, 2014 pertaining to the raising of the investment limits of the anchor investors and also relating to the preferential issues. This circular shall be made applicable on or after the date of the circular. In order to remove the difficulties the impact of such circular shall be as follows: 1. The revised regulat...
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Version of Form DIR-11, DIR-12, MGT-14 and Refund Forms changed w.e.f. 13th September, 2014

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The Ministry of Corporate Affairs had issued a General Notice informing the stakeholders on 13th September, 2014 about the change in the version of certain forms under Companies Act, 2013 namely DIR-11, DIR-12, MGT-14 and refund forms. All the stakeholders are requested to download and fill the latest version of the forms and the updated dates of the latest modified version can be seen at the f...
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Bank Accounts to turn dormant and inoperative if no transaction for 2 years

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RBI/2014-15/227 UBD.BPD.Cir.No.14/12.05.001/2014-15 September 11, 2014 The Chief Executive Officer All Primary (Urban) Co-operative Banks Dear Sir / Madam Inoperative Accounts Please refer to Paragraph 2(iv) of our Circular UBD.BPD.(PCB).Cir.No.9/13.01.000/2008-09 dated September 1, 2008 on Unclaimed Deposits / Inoperative Accounts in Banks in terms of which a savings as well as current a...
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Guidelines on Wilful Defaulters – Clarification regarding Guarantor, Lender and Unit

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RBI/2014-15/221 DBOD.No.CID. 41/20.16.003/2014-15 September 9, 2014 All Scheduled Commercial Banks (excluding RRBs and LABs) and All India Notified Financial Institutions (FIs) Dear Sir/ Madam Guidelines on Wilful Defaulters – Clarification regarding Guarantor, Lender and Unit Please refer to the Master Circular on Wilful Defaulters DBOD.No.CID.BC.3/20.16.003/2014-15 dated July 1...
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Upper age limit for Whole Time Directors on the Boards of Banks

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RBI/2014-15/217 DBOD. APPT.BC.No. 40 /29.39.001/2014-15 September 9, 2014 To The Managing Director & Chief Executive Officers of all Private Sector Banks Dear Sir / Madam, Upper age limit for Whole Time Directors on the Boards of Banks The matter relating to fixing an upper age limit for the post of Managing Director & Chief Executive Officers (MD & CEO) and other Whole Time D...
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