Financial institution

Review of Prudential Guidelines on Restructuring of Advances by Financial Institutions (FIs)

RBI/2012-13/534 DBOD.FID.FIC.No.5/01.02.00 /2012-13 June 17, 2013 The CEOs of All-India Term-Lending and Refinancing Institutions (Exim Bank, NABARD, NHB and SIDBI) Dear Sir, Review of Prudential Guidelines on Restructuring of Advances by Financial Institutions (FIs) In continuation of our letter DBOD.FID.FIC.No.6/01.02.00/2010-11 dated October 14, 2010 on the captioned subject, please find enclosed circular DBOD.BP.BC.No.99/ 21.04.132/2012-13 dated May 30, 2013 and… Read More

Tags: AdvancesBankFinancial institutionFinancial servicesGeneral managerIndiaPrudential GuidelinesRajesh Verma

RBI Notification on NBFC-MFIs Directions Modifications in Pricing of Credit & Margin cap

RBI/2012-13/517 DNBS (PD) CC.No.327/03.10.038/2012-13 May 31, 2013 All NBFCs Dear Sir, ˜Non Banking Financial Company-Micro Finance Institutions™ (NBFC-MFIs) Directions Modifications in Pricing of Credit - Margin cap Attention is invited to para 6 of DNBS.(PD)CC.No.300/03.10.38/2011-12 dated August 3, 2012 modifying inter alia the pricing of credit as given in DNBS.CC.PD.No.250/03.10.01/2011-12 dated December 2, 2011.  On a review, it… Read More

Tags: Banking ServicesBusinessFinancial institutionFinancial servicesIndiaNon-banking financial companyReserve Bank of India

RBI FAQs :: Deposit Taking Activities of Financial Entities

1. What is a Non-Banking Financial Company? A Non-Banking Financial Company (NBFC) is a company a) registered under the Companies Act, 1956, b) its principal business is lending, investments in various types of shares/stocks/bonds/debentures/securities, leasing, hire-purchase, insurance business, chit business, and c) its principal business is receiving deposits under any scheme or arrangement in one… Read More

Tags: Collective investment schemeFinancial institutionIndiaMutual fundNational Housing BankNon-banking financial companyReserve BankReserve Bank of India

Review of Prudential Guidelines on Restructuring of Advances by Banks and Financial Institutions

RBI/2012-13/514 DBOD.BP.BC.No. 99/21.04.132/2012-13 May 30, 2013 All Scheduled Commercial Banks (excluding RRBs) Dear Sir, Review of Prudential Guidelines on Restructuring of Advances by Banks and Financial Institutions As indicated in paragraph 81 (extract enclosed) of the Monetary Policy Statement 2013-14 announced on May 3, 2013, ˜Prudential guidelines on restructuring of advances by banks / financial… Read More

Tags: BankCommercial bankDCCOFinancial institutionMonetary policyRun batted inSQRWorking Group

Frauds Classification and Reporting

RBI/2012-13/505 DBS.FrMC.BC.No. 6/23.04.001/2012-13 May 23, 2013 The Chairmen & Chief Executive Officers of all Scheduled Commercial Banks (excluding RRBs) and All India Select Financial Institutions Dear Sir, Frauds Classification and Reporting Please refer to Para 3.1.3 of circular DBS. FrMC. BC. No. 1/23.04.001/2012-13 dated July 02, 2012 i.e. the Master Circular on 'Frauds Classification and Reporting' which… Read More

Tags: Banking ServicesBusinessFinancial institutionFinancial servicesGeneral managerIndiaReserve Bank of IndiaRun batted in

RBI Clarification on Unique Customer Identification Code for NBFC Customers in India

RBI/2012-13/489 DNBS (PD).CC. No. 325/03.10.42/2012-13 May 03, 2013 Non-Deposit taking NBFCs with assets of Rs 25 cr and above/ All Deposit taking NBFCs Dear Sir, Know Your Customer (KYC) norms/Anti-Money Laundering (AML) standards/Combating of Financing of Terrorism (CFT) - Unique Customer Identification Code for NBFC Customers in India (UCIC) The Reserve Bank of India has… Read More

Tags: Financial institutionGovernment of IndiaIndiaKnow Your Customermoney launderingNon-banking financial companyReserve Bank of IndiaTerrorism financing

Highlights of the Maharashtra Budget for 2013-14

HIGHLIGHTS OF THE BUDGET PRESENTED BY DEPUTY CHIEF MINISTER AND FINANCE MINISTER, SHRI AJIT PAWAR ON 20TH MARCH, 2013 Surveillance of transactions by Sales Tax Department to go up. Tax exemption on essential commodities, Solapuri chadars and towels, wet dates to continue up to 31st March, 2014. Tax exemption on currants and raisins to continue… Read More

Tags: Ajit PawarBrailleDroughtFinancial institutionPercentageSales taxTax exemptionValue Added Tax

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