Financial Services | Corporate Law Reporter

Strategy adopted by RBI for Financial Inclusion

- Speech delivered by Dr. Deepali Pant Joshi, Executive Director, Reserve Bank of India at a workshop organised by Government of Madhya Pradesh at New Delhi on January 24, 2014 One of the major challenges for next decade or more to banks in the country is to capture the banking business of over 50% population… Read More

Tags: Financial inclusion, Financial services, India, Raghuram Rajan, rbi, Reserve Bank of India, Run batted in, Unique Identification Authority of India

The Risk Management, Governance & Compliance Summit 2014

Achromic Point Presents The Risk Management, Governance & Compliance Summit 2014 - Strategy For Better Performance And Accountability - Mumbai 7th February | Bengaluru 14th February | Chennai 12th March Dear Industry Colleague, Greetings from Achromic Point. We would like to take this opportunity to inform and invite you to The Risk Management, Governance & Compliance… Read More

Tags: Business, Chennai, Deloitte, Financial services, Internal audit, Management, Mumbai, Risk management

Sectoral Deployment of Bank Credit December 2013

Data for the month of December 2013 on sectoral deployment of credit collected from select 47 scheduled commercial banks accounting for about 95 per cent of the total non-food credit deployed by all scheduled commercial banks are set out in Statements I and II. These data are also available in the Real-Time Handbook of Statistics… Read More

Tags: Airline, Business, Credit, December 2012, Financial services, Non Banking Financial Companies, Non-banking financial company, Percentage

RBI releases ‘Quarterly Statistics on Deposits and Credit of Scheduled Commercial Banks: September 2013’

The Reserve Bank of India today released on its website ˜Quarterly Statistics on Deposits and Credit of Scheduled Commercial Banks, September 2013'. The publication contains data on spatial distribution of aggregate deposits and gross bank credit of scheduled commercial banks including regional rural banks (RRBs) based on Basic Statistical Return (BSR)-7 as on last Friday… Read More

Tags: Credit (finance), Deposit account, Financial services, India, Percentage, Reserve Bank of India, September 2013, State Bank of India

Collection of Account Payee Cheques – Prohibition on Crediting Proceeds to Third Party Account

RBI/2013-14/458 DBOD.BP.BC.No. 87/21.01.001/2013-14 January 22, 2014 The Chairmen / Chief Executives of All Scheduled Commercial Banks (excluding RRBs) Collection of Account Payee Cheques - Prohibition on Crediting Proceeds to Third Party Account Please refer to our circular DBOD.BP.BC.No.50/21.01.001/2011-12 dated November 4, 2011 advising banks that they are prohibited from crediting 'account payee' cheques to the account of… Read More

Tags: Bank, Bank account, Business, cheque, Financial services, Negotiable Instrument, Negotiable Instruments Act 1881, Payment

Alteration in the name of “Development Credit Bank Limited” to “DCB Bank Limited” in the Second Schedule to the Reserve Bank of India Act, 1934

RBI/2013-14/442 Ref.DBOD.No.Ret.BC /83/12.06.097/2013-14 January 10, 2014 All Scheduled Commercial Banks Dear Sir Alteration in the name of "Development Credit Bank Limited" to "DCB Bank Limited " in the Second Schedule to the Reserve Bank of India Act, 1934 We advise that the name of "Development Credit Bank Limited has been changed to "DCB Bank Limited"… Read More

Tags: Business, Caesarean section, Commercial bank, Financial services, Gazette of India, General manager, Reserve Bank of India, Reserve Bank of India Act

Memorandum of Instructions for Opening and Maintenance of Rupee / Foreign Currency Vostro Accounts of Non-resident Exchange Houses

RBI/2013-14/438 A. P. (DIR Series) Circular No. 88 January 09, 2014 To, All Authorised Dealer Category - I Banks Madam / Sir, Memorandum of Instructions for Opening and Maintenance of Rupee / Foreign Currency Vostro Accounts of Non-resident Exchange Houses Attention of Authorised Dealer Category I (AD Category I) banks is invited to Part (B)… Read More

Tags: Anno Domini, Asia, Financial services, Foreign Exchange Management Act, India, Indian rupee, Mutual fund, Non-resident Indian and person of Indian origin

RBI releases Report of the Committee on Comprehensive Financial Services for Small Business and Low Income Households

The Reserve Bank of India has today released on its website for public comments, the Report of the Committee on Comprehensive Financial Services for Small Business and Low Income Households and additional comments from two members in this regard. The Comments may be emailed or sent by post to the Principal Chief General Manager, Rural Planning and Credit Department, Reserve Bank… Read More

Tags: Committee, Financial services, Money Services Business, Mumbai, Nachiket Mor, Non-governmental organization, Reserve Bank of India, Telephone exchange

Investment in Credit Information Companies

DBOD.CID.BC.No.74/20.16.042/2013-14 November 29, 2013 All Credit Information Companies Investment in Credit Information Companies In exercise of the powers conferred by sub-section (1) of Section 11 of Credit Information Companies (Regulation) Act, 2005, and in supersession of its direction on Investment in Credit Information Companies dated November 20, 2008, Reserve Bank of India, being satisfied that… Read More

Tags: Asia, Financial services, foreign direct investment, India, Investment, Non-resident Indian and person of Indian origin, Regulation, Reserve Bank of India

Trade Credit for imports into India- Online submission of data on issuance of Guarantee/Letter of Undertaking (LoU)/Letter of Comfort (LoC) by ADs

RBI/2013-14/374 A.P. (DIR Series) Circular No. 75 November 19, 2013 To All Category - I Authorised Dealer Banks Madam / Sir Trade Credit for imports into India- Online submission of data on issuance of Guarantee/Letter of Undertaking (LoU) /Letter of Comfort (LoC) by ADs Attention of Authorized Dealer Category-I (AD Category-I) banks is invited to A.P.… Read More

Tags: Anno Domini, Categories of New Testament manuscripts, Financial services, foreign direct investment, Foreign Exchange Management Act, India, Reserve Bank, xbrl

Compliance with the provisions of Equity Listing Agreement by listed companies Monitoring by Stock Exchanges

CIR/CFD/POLICYCELL/13/2013 November 18, 2013 To All Recognised Stock Exchanges Dear Sir(s)/Madam(s), Sub: Compliance with the provisions of Equity Listing Agreement by listed companies - Monitoring by Stock Exchanges 1. The Equity Listing Agreement mandates listed companies to make periodic and event based disclosures which are price sensitive in nature and which will have bearing on… Read More

Tags: Financial services, India, Public company, SEBI, Securities & Exchange Board of India, Securities and Exchange Board of India Act 1992, Standard operating procedure, Stock exchange

Foreign Direct Investment in Financial Sector Transfer of Shares

RBI/2013-14/366 A. P. (DIR Series) Circular No.72 November 11, 2013 To All Category-I Authorised Dealer Banks Madam / Sir, Foreign Direct Investment in Financial Sector Transfer of Shares Attention of Authorized Dealer Category-I (AD Category-I) banks is invited to Regulation 10(A)(v) of the Foreign Exchange Management (Transfer or Issue of Security by a Person Resident… Read More

Tags: Anno Domini, Categories of New Testament manuscripts, Financial services, foreign direct investment, Foreign Exchange Management Act, India, Regulation, Reserve Bank of India

Exposure Draft on Insurance Clearing House

The Authority had observed that the inter-company balances in reinsurance and coinsurance business are at a very high level and have been on a constant rise. In order to ensure timely and effective reconciliation of these balances and also to achieve transparency and for timely and efficient accounting and settlement of these balances, the Authority… Read More

Tags: Business, Clearing Houses, Financial services, Insurance, Insurance Regulatory, IRDA, Reinsurance