Reserve Bank | Corporate Law Reporter

RBI releases Framework for Revitalising Distressed Assets in the Economy

The Reserve Bank of India today released on its website the Framework for Revitalising Distressed Assets in the Economy. The Framework outlines a corrective action plan that will incentivise early identification of problem cases, timely restructuring of accounts which are considered to be viable, and taking prompt steps by banks for recovery or sale of… Read More

Tags: Economy of India, finance, Green paper, Loan, Reserve Bank, Reserve Bank of India, Restructuring, Steps (group)

Third Quarter Review of Monetary Policy 2013-14

On the basis of an assessment of the current and evolving macroeconomic situation, it has been decided to: increase the policy repo rate under the liquidity adjustment facility (LAF) by 25 basis points from 7.75 per cent to 8.0 per cent; and keep the cash reserve ratio (CRR) of scheduled banks unchanged at 4.0 per… Read More

Tags: Bank Rate, Central bank, Consumer Price Index - CPI (CPIS), December, Economic growth, Repurchase agreement, Reserve Bank, Urjit Patel Committee

Banknotes issued prior to 2005 to be withdrawn: RBI Advisory

The Reserve Bank of India has today advised that after March 31, 2014, it will completely withdraw from circulation all banknotes issued prior to 2005. From April 1, 2014, the public will be required to approach banks for exchanging these notes. Banks will provide exchange facility for these notes until further communication. The Reserve Bank… Read More

Tags: Banknote, Branch (banking), Central bank, Identity document, Legal tender, Reserve Bank, Reserve Bank of India

RBI seeks Public Comments on Depositor Education and Awareness Fund Scheme

The Reserve Bank of India, today placed on its website, the draft Depositor Education and Awareness Fund Scheme for public consultation. Members of public, banks, academia, industry and other stakeholders may send their comments on the scheme by email by February 5, 2014. Background Pursuant to the amendment of The Banking Laws (Amendment) Act, 2012,… Read More

Tags: Awareness Fund Scheme, Business, Deposit account, Fund, India, Official Gazette, Reserve Bank, Reserve Bank of India

RBI Clarifications on Provisions under section 6 (4) of Foreign Exchange Management Act, 1999

RBI/2013-14/440 A.P. (DIR Series) Circular No. 90 January 9, 2014 To, All Category- I Authorised Dealer Banks and Authorised Banks Madam / Sir, Provisions under section 6 (4) of Foreign Exchange Management Act, 1999 - Clarifications Attention of Authorized Dealers is invited to Section 6 (4) of FEMA, 1999 in terms of which a person… Read More

Tags: Categories of New Testament manuscripts, Central bank, Currency, Federal Emergency Management Agency, FEMA, Foreign Exchange Management Act, India, Reserve Bank

Overseas Direct Investments Rollover of Guarantees

RBI/2013-14/427 A.P. (DIR Series) Circular No.83 January 3, 2014 To All Category - I Authorised Dealer Banks Madam / Sir, Overseas Direct Investments Rollover of Guarantees Attention of the Authorised Dealer (AD - Category I) banks is invited the provisions of Notification No. FEMA.120/RB-2004 dated July 7, 2004 [Foreign Exchange Management (Transfer or Issue of any Foreign… Read More

Tags: Anno Domini, Categories of New Testament manuscripts, Central bank, Federal Emergency Management Agency, finance, Foreign Exchange Management Act, India, Reserve Bank

RBI sets up Committee on Data and Information Management in the Reserve Bank of India

The information requirement for monetary and macro financial policies as well as supervision has become more demanding with the increasing integration of the Indian economy and markets with the global economy. Periodic assessment of the institutional process of data capture and management, therefore, becomes important to strengthen the information base of policy making. However, for… Read More

Tags: Chief Information Officer, Committee, Deepak Mohanty, General manager, India, Reserve Bank, Reserve Bank of India, Run batted in

RBI cautions users of Virtual Currencies against Risks

The Reserve Bank of India has today cautioned the users, holders and traders of Virtual currencies (VCs), including Bitcoins, about the potential financial, operational, legal, customer protection and security related risks that they are exposing themselves to. The Reserve Bank has mentioned that it has been looking at the developments relating to certain electronic records… Read More

Tags: Bitcoin, Central bank, finance, money laundering, Reserve Bank, Reserve Bank of India, Run batted in, Virtual currency

Raghuram Rajan on Financial Sector Reforms

(Talk by Dr. Raghuram G. Rajan, Governor, Reserve Bank of India at the Delhi Economics Conclave 2013 at Delhi on December 11, 2013) The economy is stabilizing, but there is no room for complacency. Some part of improvement in the CAD has happened due to suppressing gold imports. Not all the measures to reduce fiscal… Read More

Tags: Central bank, Delhi Metro, Economy of India, India, Inflation, Raghuram Rajan, rbi, Reserve Bank

External Commercial Borrowings (ECB) by Holding Companies / Core Investment Companies for the project use in Special Purpose Vehicles (SPVs)

RBI/2013-14/397 A.P. (DIR Series) Circular No. 78 December 3, 2013 To All Authorised Dealer Category I Banks Madam / Sir External Commercial Borrowings (ECB) by Holding Companies / Core Investment Companies for the project use in Special Purpose Vehicles (SPVs) Attention of Authorized Dealer Category-I (AD Category-I) banks is invited to the A.P. (DIR Series) Circular… Read More

Tags: Capital expenditure, Central bank, ECB, European Central Bank, Foreign Exchange Management Act, Holding company, Reserve Bank, Special purpose entity, SPV, SPV GmbH

RBI seeks Comments on Draft Framework for dealing with Domestic Systemically Important Banks (D-SIBs)

The Reserve Bank of India today released on its website, the draft framework for dealing with Domestic Systemically Important Banks (D-SIBs). The Reserve Bank has sought views/comments on the document from banks, other institutions and the public at large. Suggestions and comments on the draft framework may be sent to the Principal Chief General Manager, Reserve Bank… Read More

Tags: Basel Committee on Banking Supervision, Central Office Building, Financial Stability Board, Mumbai, Reserve Bank, Reserve Bank of India, Run batted in, Systemically important financial institution

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

The Five Pillars of RBI™s Financial Sector Policies – Raghuram Rajan

Good evening. I thank the organisers for inviting me. These are challenging times for the Indian economy, but I have dwelt on those near-term challenges elsewhere. Let me turn instead to the opportunities we have to make India a far better place than it is today, focussing in particular on finance. Much of the world… Read More

Tags: Central bank, Delhi Mumbai Industrial Corridor Project, Economy of India, finance, India, Inflation, Reserve Bank, Reserve Bank of India