Category - RBI

JLF or IBC? – Can a single dissenting lender derail the process adopted by other lenders under extant JLF Guidelines?

Reserve Bank of India (“RBI”) and Government of India (“GoI”) have been relentlessly showing their willingness to resolve the near about 6 Lakh Crores worth of Non Performing Assets in the country. Manifesting such willingness, GoI has passed the Banking Regulation (Amendment) Ordinance, 2017 to equip RBI to direct insolvency resolution of specific companies to… Read More

RBI releases Master Direction – Lending to MSME Sector

Dear Sir/Madam, Master Direction - Lending to Micro, Small & Medium Enterprises (MSME) Sector As you are aware, the Reserve Bank of India has, from time to time, issued a number of guidelines / instructions / circulars / directives to banks in the matters relating to lending to Micro, Small & Medium Enterprises Sector. The Master… Read More

RBI constitutes monetary policy committee and Regulations to be effective from 1st Aug 2017

RESERVE BANK OF INDIA (CENTRAL OFFICE) (Monetary Policy Department) NOTIFICATION Mumbai, the 14th July, 2017 Reserve Bank of India Monetary Policy Committee and Monetary Policy Process Regulations, 2016 No. M.P.D.P.M.D.No. 17/02.02.015/17-18.—In exercise of the powers conferred by clause (qa), (qb), (qc), (qd) and (qe) of Section 58 of the Reserve Bank of India Act, 1934… Read More

RBI Master Circular –Detection and Impounding of Counterfeit Notes

Master Circular – Detection and Impounding of Counterfeit Notes RBI/2017-18/26 DCM (FNVD) G – 4/16.01.05/2017-18 July 20, 2017 The Chairman/ Managing Director /Chief Executive Officer All Banks and Director of Treasuries of all States Dear Sir / Madam, Master Circular – Detection and Impounding of Counterfeit Notes Please refer to the Master Circular DCM (FNVD) G-6/16.01.05/2016-17… Read More

RBI arrives at an objective, non-discretionary criterion for referring accounts for resolution under IBC

Reserve Bank of India (RBI) has constituted an Internal Advisory Committee (IAC), which arrived at an objective, non-discretionary criterion for referring accounts for resolution under Insolvency and Bankruptcy Code, 2016 (IBC).  Reserve Bank of India (RBI) has constituted an Internal Advisory Committee (IAC), which arrived at an objective, non-discretionary criterion for referring accounts for resolution… Read More

SBI informs on charges to be levied on frequent bank transaction :PIB

Imposition of charges on frequent banking  State Bank of India (SBI) has informed that the charges are levied by them beyond number of free transactions are as under:- Monthly Average Balance in Savings Bank Monthly Limit on Number of free Debit transactions Branch SBI ATMs Other Bank ATMs 6 Metros Other Centres <Rs.1000 2 5… Read More

RBI set up EFD to speed up regulatory compliance on commercial banks

RBI has set up an Enforcement Department (EFD) which would serve as a centralised department to speed up regulatory compliance; EFD has been entrusted with the responsibility of enforcement action on commercial banks  Reserve Bank of India (RBI) has informed that they have set up an Enforcement Department (EFD). EFD would serve as a centralised… Read More

GOI advises Interest rates for Small Savings Schemes for Q2

RBI/2017-18/22 DGBA.GBD. 69/15.02.005/2017-18 July 13, 2017 The Chairman/Chief Executive Officer Agency Banks handling Public Provident Fund, Kisan Vikas Patra- 2014, Sukanya Samriddhi Account, Senior Citizen Savings Scheme-2004 Dear Sir Interest rates for Small Savings Schemes Please refer to our circular DGBA.GAD.2618/15.02.005/2016-17 dated April 6, 2017 on the above subject. The Government of India, had vide their Office… Read More

RBI clarifies Nomination of Non-Executive Chairman to Audit Committee

RBI/2017-18/20 DBS.ARS.BC.01/08.91.020/2017-18 July 13, 2017 The Chief Executives All Indian Commercial Banks Dear Sir/Madam, Audit Committee of the Board of Directors – Nomination of Non-Executive Chairman Please refer to Para 3 (ii) of our circular dated September 26, 1995 on “Audit Committee of the Board of Directors - Reconstitution” and Para (ii) of our circular… Read More

RBI illustrates recording of details of transactions in passbook by Co-operative Banks

RBI/2017-18/24 DCBR.BPD.(PCB/RCB).Cir.No.02/12.05.001/2017-18 July 13, 2017 The Chief Executive Officer All Primary (Urban) Co-operative Banks/ All State Co-operative Banks/ All District Central Co-operative Banks Dear Sir/Madam, Recording of Details of Transactions in Passbook/Statement of Account by Co-operative Banks Please refer to our circular UBD.CO.BPD.(PCB).No.18/12.05.001/2010-11 dated October 26, 2010 and para 4.6.3 of Annex to our circular RPCD.CO.RCB.BC.No.36/07.51.010/2014-15 dated October… Read More

Page 1 of 412...Last »

Corporate Law Referencer

Recent Articles

Recent Legal updates

Recent Gst Updates