Cuffe Parade | Corporate Law Reporter

Prepaid Payment Instruments issued by Non-Banking Institutions

RBI/2013-14/461 DNBS(PD).CC. No 368 /03.10.01 /2013-14 January 24 , 2014 All Non Banking Financial Companies Dear Sirs, Prepaid Payment Instruments issued by Non-Banking Institutions Nonbanking institutions (NBIs) are allowed to issue prepaid payment instruments (PPIs) and collect money in this behalf from the customers, subject to authorisation under the Payment and Settlement Systems Act (PSS… Read More

Tags: Cuffe Parade, Financial institution, General manager, Mumbai, NSV machine gun, Reserve Bank of India, Run batted in, Settlement Systems Act

RBI Reviews Guidelines on Restructuring of Advances by NBFCs

RBI/2013-14/459 DNBS.CO. PD. No. 367/03.10.01/2013-14 January 23, 2014 All NBFCs excluding Primary Dealers Dear Sirs, Review of Guidelines on Restructuring of Advances by NBFCs As indicated in paragraph 42 of the Second Quarter Review of Monetary Policy 2013-14 announced on October 29, 2013, the extant instructions on restructuring of advances by NBFCs have been reviewed… Read More

Tags: ANNEX, Bank, COLABA, Cuffe Parade, Monetary policy, Mumbai, Reserve Bank of India, Working Group

Submission of online Quarterly Statements by Securitisation Companies/Reconstruction Companies registered with the Reserve Bank of India under Section 3(4) of the SARFAESI Act

RBI/2013-2014/422 DNBS (PD) CC. No. 34/SCRC/26.03.001/2013-2014 December 31, 2013 All registered Securitisation Companies/ Reconstruction Companies Submission of online Quarterly Statements by Securitisation Companies/ Reconstruction Companies registered with the Reserve Bank of India under Section 3(4) of the SARFAESI Act Please refer to our Circular DNBS (PD) CC. No. 5/SCRC/10.30.000/2006-2007 dated April 25, 2007 and subsequent Circular DNBS… Read More

Tags: Bank, COLABA, Cuffe Parade, Mumbai, Reconstruction Era, Reserve Bank of India, Securitisation, Securitisation Companies/Reconstruction Companies

RBI Notification w.r.t. Returns to be submitted by NBFCs & Introduction of ˜Branch info™ returns

RBI/2013-14/219 DNBS (PD). CC.No. 355/03.02.02/2013-14 September 3, 2013 To CEOs of All NBFCs (excluding RNBCs) Dear Sir/Madam, Returns to be submitted by NBFCs- Introduction of ˜Branch info™ return Please refer to the DNBS (PD).CC.No.243/03.02.02/2011-12 dated September 22, 2011 on submission of returns by NBFCs. In terms of the extant instructions NBFCs are required to file various periodical… Read More

Tags: ANNEX, Bank, Cuffe Parade, finance, June 30 2013, Non-banking financial company, Reserve Bank of India, Run batted in

Exim Bank’s Line of Credit to the Government of the Union of Comoros

RBI/2013-14/189 A.P. (DIR Series) Circular No.27 August 16, 2013 To All Category - I Authorised Dealer Banks Madam / Sir, Exim Bank's Line of Credit of USD 41.60 million to the Government of the Union of Comoros Export-Import Bank of India (Exim Bank) has entered into an Agreement dated February 22, 2013 with the Government of… Read More

Tags: Cuffe Parade, EXIM bank, Export-Import Bank of the United States, Foreign Exchange Management Act, India, Letter of credit, Line of Credit, LOC

Exim Bank’s Line of Credit to the Republic of Zimbabwe

RBI/2013-14/177 A.P. (DIR Series) Circular No. 21 August 12, 2013 To, All Category - I Authorised Dealer Banks Madam / Sir, Exim Bank's Line of Credit of USD 28.60 million to the Republic of Zimbabwe Export-Import Bank of India (Exim Bank) has entered into an Agreement dated June 21, 2013 with the Republic of Zimbabwe,… Read More

Tags: Cuffe Parade, EXIM bank, Export-Import Bank of the United States, Foreign Exchange Management Act, India, Letter of credit, LOC, Zimbabwe

Exim Bank’s Line of Credit of USD 19 million to the Government of the Republic of Senegal

RBI/2013-14/149 A.P. (DIR Series) Circular No.16 July 23, 2013 To All Category - I Authorised Dealer Banks Madam / Sir, Exim Bank's Line of Credit of USD 19 million to the Government of the Republic of Senegal Export-Import Bank of India (Exim Bank) has entered into an Agreement dated December 19, 2012 with the Government of… Read More

Tags: Cuffe Parade, EXIM bank, Export-Import Bank of the United States, Foreign Exchange Management Act, India, Letter of credit, Line of Credit, LOC

Exim Bank’s Line of Credit of USD 35 million to the Government of the Republic of Ghana

RBI/2013-14/145 A.P. (DIR Series) Circular No.13 July 17, 2013 To All Category - I Authorised Dealer Banks Madam / Sir, Exim Bank's Line of Credit of USD 35 million to the Government of the Republic of Ghana Export-Import Bank of India (Exim Bank) has entered into an Agreement dated December 14, 2012 with the Government… Read More

Tags: Cuffe Parade, EXIM bank, Export-Import Bank of the United States, Foreign Exchange Management Act, Ghana, India, Letter of credit, Line of Credit

Payment of interest on overdue public deposits

RBI/2013-14/121 DNBS.PD/CC.No.350/03.02.001/2013-14 July 04, 2013 All NBFCs Dear Sirs, Payment of interest on overdue public deposits Kindly refer to clause (10) of paragraph 4 of Non-Banking Financial Companies Acceptance of Public Deposits (Reserve Bank) Directions, 2007. NBFCs are at times required to freeze the term deposits of customer based on the orders of the enforcement… Read More

Tags: Bank, COLABA, Cuffe Parade, Deposit account, Government, Mumbai, Reserve Bank, Reserve Bank of India

NBFCs – RBI™s Fraud Monitoring Cell to function from Bengaluru from July 01, 2013

RBI/2012-13/532 DNBS (PD) CC.No.329 /03.10.42/2012-13 June 13, 2013 All NBFCs Dear Sir/Madam, RBI™s Fraud Monitoring Cell to function from Bengaluru from July 01, 2013 Attention is invited to para 3 of Master Circular DNBS.(PD)CC.No.283/03.10.042/2012-13 dated July 2, 2012 on Reporting of Frauds to RBI. 2. The Reserve Bank of India™s Fraud Monitoring Cell attached to Department of… Read More

Tags: Central Fraud Monitoring Cell, Cuffe Parade, Mumbai, NBFC, Non-banking financial company, Reserve Bank, Reserve Bank of India

RBI Clarification – NBFCs not to be Partners in Partnership Firms

RBI/2012-13/525 DNBS.PD/CC.No. 328/03.02.002/2012-13 June 11, 2013 All NBFCs Dear Sir, NBFCs not to be Partners in Partnership Firms- Clarifications NBFCs were advised vide CC No. 214/03.02.002/2010-11 dated March 30, 2011 that they are prohibited from contributing capital to any partnership firm or to be partners in partnership firms. In cases of existing partnerships, NBFCs were advised to… Read More

Tags: C.R. Samyuktha, CRS, Cuffe Parade, June 11 2013, Limited liability partnership, Mumbai, Non-banking financial company, Reserve Bank of India

RBI Press Release – RBI™s Fraud Monitoring Cell to function from Bengaluru from July 1

The Reserve Bank of India™s Fraud Monitoring Cell attached to Department of Banking Supervision, Central Office has shifted from the present location at 2nd Floor, World Trade Centre-1, Cuffe Parade, Mumbai - 400005 to Bengaluru Regional Office of the Reserve Bank. The Central Fraud monitoring Cell will continue to be part of Department of Banking… Read More

Tags: Ajit Prasad, Central Fraud Monitoring Cell, Cuffe Parade, General manager, Mumbai, Press Release, Reserve Bank of India

Exim Bank’s Line of Credit to the Government of the Republic of Malawi

RBI/2012-13/474 A.P. (DIR Series) Circular No.97 April 9, 2013 To All Category - I Authorised Dealer Banks Madam / Sir, Exim Bank's Line of Credit of USD 76.50 million to the Government of the Republic of Malawi Export-Import Bank of India (Exim Bank) has concluded an Agreement dated December 13, 2012 with the Government of the… Read More

Tags: Cuffe Parade, EXIM bank, Export Import Bank of United States, Foreign Exchange Management Act, India, Letter of credit, LOC, Malawi