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Frauds Classification and Reporting
RBI 2011-12/266 DBS.FrMC.BC.No.4/23.04.001/2011-12 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 our letter DBS. FrMC. BC. No.1 /23.04.001/2011-12 dated July 01, 2011 forwarding the Master Circular on 'Frauds Classification and Reporting'. 2. Following the constitution of Financial… Read More
Mid Sea Trans-shipment of catch by Deep Sea Fishing Vessel
RBI/2011-12/267 A.P. (DIR Series) Circular No. 48 To All Category-I Authorised Dealer Banks Madam / Sir, Mid Sea Trans-shipment of catch by Deep Sea Fishing Vessel Attention of Authorised Dealer Category-I (AD Category-I) banks is invited to Regulation 3 of Foreign Exchange Management (Export of Goods and Services) Regulations, 2000 notified vide Notification No. FEMA 23/2000-RB… Read More
Infrastructure Debt Funds (IDFs)
RBI/2011-12/268 DNBS.PD.CC.No.249/03.02.089/2011-12 To All NBFCs excluding RNBCs Infrastructure Debt Funds (IDFs) The Finance Minister had in his budget speech for the year 2011-2012 announced the setting up of Infrastructure Debt Funds (IDFs), to facilitate the flow of long-term debt into infrastructure projects. The IDF will be set up either as a trust or as a… Read More
Banks as sponsors to Infrastructure Debt Funds (IDFs)
RBI/2011-12/269 DBOD.FSD.BC.No. 57/24.01.006/2011-12 The Chairmen and Managing Directors / Chief Executive Officers of All Scheduled Commercial Banks (Excluding RRBs) Dear Sir, Banks as sponsors to Infrastructure Debt Funds (IDFs) In order to accelerate and enhance the flow of long term funds to infrastructure projects for undertaking the Government™s ambitious programme of infrastructure development, Union Finance… Read More
Listing Provides an Oppurtunity to the People of India to become Shareholders in CPSES while Government Retains Management Control:FM
The Union Finance Minister, Shri Pranab Mukherjee has said that listing provides an opportunity to the people of India to become shareholders in Central Public Sector Enterprises(CPSEs); while Government retains management control and at least 51% shareholding in the Government companies. The Finance Minister was delivering the inaugural address after inaugurating the Seminar on PSU Disinvestment through Listing… Read More
Union Finance Minister Shri Pranab Mukherjee™s Speech at Business World Best Bank Awards in Mumbai on November 19, 2011
Following is the text of the speech : I am very happy to be here at the Businessworld Best Bank awards once again. Your event is becoming popular in highlighting the importance of banking activities and their expansion for economic development. I am happy to see some of our distinguished bankers in this room today.… Read More
Increase in FII debt limit in Government & Corporate debt category
CIR/IMD/FIIC/ 20 /2011 To All Foreign Institutional Investors through their designated Custodians of Securities Dear Sir/Madam Sub Increase in FII debt limit in Government & Corporate debt category 1. Government vide press release dated November 18, 2011 has decided to: a. Increase the current limit of FII investment in Government Securities by US $ 5… Read More
Set-off of export receivables against import payables-Liberalization of Procedure
Attention of Authorized Dealer Category I (AD Category I) banks is invited to the fact that the requests received from the exporters through their AD branches for set-off of export receivables against import payables are considered by the Reserve Bank of India. As a measure of further liberalization, it has been decided to delegate power… Read More
Direct Access to Negotiated Dealing System-Order Matching (NDS-OM)
RBI/2011-12/265 IDMD.DOD.No.13 /10.25.66/2011-12 November 18, 2011 To All SGL/CSGL Account holders, Dear Sir/Madam, Direct Access to Negotiated Dealing System-Order Matching (NDS-OM) Please refer to our circular IDMD.DOD.No. 5893 /10.25.66/ 2007-08 dated May 27, 2008 on access to NDS-OM. 2. With a view to widening the secondary market in Government Securities to more number of participants, it has… Read More
Citibank fraud: I-T initiates re-assessment of investors
The I-T department's various tax assessment wings will undertake the process of re-checking of I-T returns and issuing subsequent notices after a high-level probe by its investigation wing found `capital gains' at the hands of some of the high-networth individuals New Delhi: In a double whammy for investors who lost their money in the Rs400… Read More
G Ramaswamy, President, ICAI elected as IFAC Board Member. – (17-11-2011)
G Ramaswamy, President, The Institute of Chartered Accountants of India (ICAI) has been elected as the Board Member of International Federation of Accountants (IFAC) at the November IFAC Council Meeting held at Berlin, Germany on 17th November 2011. IFAC is a global organization for the accountancy profession, dedicated in serving the public interest by strengthening… Read More
SEBI Plans Circuit Filter from Listing Day
The Securities and Exchange Board of India (SEBI) is considering imposing circuit filter on the day of listing to check excessive volatility. If circuit filter imposes on the listing day, price of the debutant share cannot go up or down beyond a level. For example, if the issue price of a share is Rs 100… Read More
SEBI Chairman Mr. U. K. Sinha™s statement on Insider Trading Surveillance System
Over the period of the last three years, Sebi has been able to strengthen the surveillance system tremendously. We have invested heavily on technology and systems. We have now moved to a higher area called data warehousing and business intelligence. So phase one of that has been implemented and next two phases are also in… Read More
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