eMinds Legal Advocates & Solicitors
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Government to Extend DBT for LPG (DBTL) Scheme in 235 More Districts by 1.1.2014
Government to Extend DBT for LPG (DBTL) Schme in 235 More Districts by 1.1.2014 Covering Overall 289 Districts; RS.272 Crore Cash Subsidy Transferred through 6.23 Million Transactions into the Bank Accounts of the LPG Consumers so Far Government of India has decided to extend the Direct Benefit Transfer for LPG (DBTL) Scheme in 235 more… Read More
Damodaran Committee Submits Report to the Ministry of Corporate Affairs
The Committee constituted by the Ministry of Corporate Affairs for Reforming the Regulatory Environment for doing Business in India, headed by Shri M. Damodaran, presented its Report to the Ministry. The Committee has made a number of recommendations that can be classified as: legal reforms, regulatory architecture, boosting efficacy of regulatory process, enabling MSME™s, and… Read More
India™s Foreign Trade report for August, 2013
EXPORTS (including re-exports) Exports during August, 2013 were valued at US $ 26135.94 million (Rs. 165202.15 crore) which was 12.97 per cent higher in Dollar terms (28.53 per cent higher in Rupee terms) than the level of US $ 23134.47 million (Rs. 128534.68 crore) during August, 2012. Cumulative value of exports for the period April-August 2013 -14… Read More
RBI Circular w.r.t. Housing Sector: Innovative Housing Loan Products
RBI/2013-14/247 RPCD.RRB. BC. No. 29 /03.05.33/2013-14 September 11, 2013 All RRBs Dear Sir, Housing Sector: Innovative Housing Loan Products Upfront disbursal of housing loans It has been observed that some banks have introduced certain innovative Housing Loan Schemes in association with developers/builders, e.g. upfront disbursal of sanctioned individual housing loans to the builders without linking the… Read More
RBI Publishes FAQs on Basic Savings Bank Deposit Account
RBI /2013-14/246 DBOD.No. Leg.52 / 09.07.005/2013-14 September 11, 2013 All Scheduled Commercial Banks (excluding RRBs) Dear Sir/Madam, Financial Inclusion- Access to Banking Services Basic Savings Bank Deposit Account (BSBDA) - FAQs Please refer to Circular DBOD.No. Leg.BC.35 / 09.07.005/2012-13 dated August 10, 2012 on the above subject wherein banks have been advised to offer ˜Basic Savings Bank… Read More
RBI Monthly Bulletin, September 2013
The Reserve Bank of India today released the September 2013 issue of its monthly Bulletin. The Bulletin includes four special articles: (1) Corporate Investment: Growth in 2012-13 and Prospects for 2013-14; (2) Developments in India™s Balance of Payments during Fourth Quarter (January-March) of 2012-13; (3) India™s External Debt as at end-March 2013; and (4) Consumer Confidence Survey… Read More
RBI Clarification w.r.t. KYC Procedure under PMLA – Recognising online Aadhaar authentication
RBI/2013-14/242 RPCD.RRB.RCB.AML.BC.No.32/07.51.018/2013-14 September 10, 2013 The Chairmen / CEOs of all Regional Rural Banks / State and Central Co-operative Banks Dear Sir, Know Your Customer (KYC) Norms /Anti-Money Laundering (AML) Standards/ Combating of Financing of Terrorism (CFT)/Obligation of banks under Prevention of Money Laundering Act (PMLA), 2002 e-KYC Service of UIDAI Recognising on-line Aadhaar authentication… Read More
RBI Simplification of Procedure Settlement of Claims of Deceased Depositor
RBI/2013-14/245 RPCD.CO.RRB.BC.No. 33/03.05.33 /2013-14 September 10, 2013 The Chairmen All Regional Rural Banks Dear Sir/Madam, Settlement of Claims of Deceased Depositor Simplification of Procedure Placing of claim forms on bank™s website Please refer to circular RPCD.CO.RRB.BC.22/03.05.33/2005-06 dated July 19, 2005 and wherein simplified procedure has been specified for settlement of claims of deceased depositors. We have been… Read More
RBI Clarification w.r.t. Alternative Avenues for Distribution of Banknotes and Coins
RBI/2013-14/244 DCM (Plg) No.G12/10.65.03/2013-14 September 10, 2013 The Chairman & Managing Director / Chief Executive Officer (All Scheduled Commercial banks including RRBs) Madam/ Dear Sir, Monetary Policy Statement for 2013-14 - Distribution of Banknotes and Coins Alternative Avenues Please refer to Para 110 of the Monetary Policy Statement 2013-14 wherein it was stated that With… Read More
RBI circular w.r.t. Increase in HTM limits for Standalone PDs
RBI/2013-14/243 IDMD.PDRD.No. 828/03.64.00/2013-14 September 10, 2013 To All Standalone Primary Dealers Dear Sir/Madam, Increase in HTM limits for Standalone PDs A reference is invited to para 5.7 of our Master Circular IDMD.PDRD.01/03.64.00/2013-14 dated July 01, 2013 on Operational Guidelines to Primary Dealers regarding quantum of securities that can be classified as HTM. 2. On the basis of… Read More
RBI enhancement of limit for Overseas Foreign Currency Borrowings by Authorised Dealer Banks
RBI/2013-14/240 A.P. (DIR Series) Circular No. 40 September 10, 2013 To All Category - I Authorised Dealer Banks Madam/ Sir, Overseas Foreign Currency Borrowings by Authorised Dealer Banks Enhancement of limit Attention of Authorised Dealer Category - I (AD Category I) banks is invited to A. P. (DIR Series) Circular No. 23 dated October 15, 2008,… Read More
Foreign Exchange Management (Borrowing or Lending in Foreign Exchange) (Fourth Amendment) Regulations, 2013
RESERVE BANK OF INDIA FOREIGN EXCHANGE DEPARTMENT CENTRAL OFFICE MUMBAI-400 001 Notification No.FEMA. 286/2013-RB Dated : September 05, 2013 Foreign Exchange Management (Borrowing or Lending in Foreign Exchange) (Fourth Amendment) Regulations, 2013 In exercise of the powers conferred by Clause (d) of sub-section (3) of Section 6 and sub-section (2) of Section 47 of the… Read More
RBI Amendment w.r.t. Overseas Direct Investment
RBI/2013-14/241 A.P. (DIR Series) Circular No. 41 September 10, 2013 To All Category - I Authorised Dealer Banks Madam/ Sir, Overseas Direct Investment Amendment Attention of the Authorised Dealer (AD - Category I) banks is invited to para 2(iv)(b) of A. P. (DIR Series) Circular No. 69 dated May 27, 2011 on Overseas Direct Investment Liberalization /… Read More
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