eMinds Legal Advocates & Solicitors
eMinds Legal is a Corporate Law Firm based in Gurgaon, India specializing in Corporate Legal, Corporate Secretarial and Compliance. The Firm comprises of a team of Corporate Lawyers and Company Secretaries with in-depth subject matter knowledge and participative industry experience of over 15 years.
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RBI Clarification – Priority Sector Lending – Targets and Classification Revision of Limits
RBI/2012-13/487 RPCD.CO.Plan. BC 72/04.09.01/2012-13 May 03, 2013 The Chairman/ Managing Director/ Chief Executive Officer [All scheduled commercial banks (excluding Regional Rural Banks) Madam/Dear Sir, Priority Sector Lending-Targets and Classification Revision of Limits Please refer to paragraph 65 of the Monetary Policy Statement for the year 2013-14. The following limits under priority sector stand revised upward with effect… Read More
Liquidity Adjustment Facility Repo and Reverse Repo and Marginal Standing Facility Rates
RBI/2012-13/486 FMD.MOAG. No. 78 /01.01.001/2012-13 May 03, 2013 All Scheduled Commercial Banks (excluding RRBs) and Primary Dealers Dear Sir, Liquidity Adjustment Facility Repo and Reverse Repo and Marginal Standing Facility Rates As announced today by the Governor in the Monetary Policy Statement for 2013-14, it has been decided to reduce the Repo rate under the… Read More
Cross Border Inward Remittance under Money Transfer Service Scheme
RBI/2012-13/485 A.P. (DIR Series) Circular No. 102 May 2, 2013 To, All Authorised Persons, who are Indian Agents under Money Transfer Service Scheme. Madam/ Dear Sir, Anti-Money Laundering (AML) standards/Combating the Financing of Terrorism (CFT) Standards - Cross Border Inward Remittance under Money Transfer Service Scheme Please refer to our A.P.(DIR Series) Circular No. 71 dated… Read More
Money changing activities – Anti-Money Laundering (AML) standards/Combating the Financing of Terrorism (CFT) Standards
RBI/2012-13/484 A.P. (DIR Series) Circular No. 101 May 2, 2013 To, All Authorised Persons Madam/ Dear Sir, Anti-Money Laundering (AML) standards/Combating the Financing of Terrorism (CFT) Standards - Money changing activities Please refer to our A.P.(DIR Series) Circular No. 70 dated January 10, 2013 on risks arising from the deficiencies in AML/CFT regime of certain jurisdiction. 2.… Read More
Implementation of Section 51-A of UAPA, 1967 | Updates of the UNSCR 1267 etc
RBI/2012-13/482 DNBS (PD).CC. No 324/03.10.42/2012-13 May 2, 2013 All Non Banking Financial Companies / Residuary Non Banking Companies Dear Sir/Madam, Implementation of Section 51-A of UAPA, 1967 -Updates of the UNSCR 1267 (1999) /1989 (2011) Committee's Al Qaida Sanctions List and Consolidated List Please refer to DNBS (PD).CC.No 318/03.10.42/2012-13 dated December 28, 2012. The Chairman… Read More
Monetary Policy Statement for 2013-14 Statement by Dr. D. Subbarao, Governor, Reserve Bank of India
"First of all, on behalf of the Reserve Bank, a hearty welcome to you all to this dissemination of the Monetary Policy Statement for 2013-14, which we put out a short while ago. 2. Based on an assessment of the current and prospective macroeconomic situation, we have decided to reduce the policy repo rate under… Read More
RBI Release – Monetary Policy Statement 2013-14
By Dr. D. Subbarao Governor Introduction The Annual Policy for 2013-14 is formulated in an environment of incipient signs of stabilisation in the global economy and prospects of a turnaround, albeit modest, in the domestic economy. 2. In the advanced economies (AEs), near-term risks have receded, aided by improving financial conditions and supportive macroeconomic policies. But this… Read More
RBI Release – Macroeconomic and Monetary Developments in 2012-13
The Reserve Bank of India today released the Macroeconomic and Monetary Developments in 2012-13. The document serves as a backdrop to the Monetary Policy Statement 2013-14 to be announced on May 3, 2013. Highlights: Overall Outlook Macro-financial risks require cautious monetary policy stance ahead In view of macro-financial risks that stay significant, headline inflation remaining… Read More
CLR Snippets | Anti-Competitive Practice Information Against Certain Car Manufacturing Companies
Information filed with the Competition Commission of India (CCI) against certain car manufacturing companies alleging anti-competitive practices is under consideration of the Commission. Giving this information in written reply to a question in the Lok Sabha today Shri Sachin Pilot, Minister of Corporate Affairs, said that for protecting the interest of consumers, CCI is empowered… Read More
Committee on Business Climate
A Committee under the Chairmanship of Sh. M. Damodaran has been constituted on 23.08.2012 by this Ministry to extensively examine different areas of root functioning such as financial reforms, governance reforms, liberalized policy framework, process reforms etc, and to suggest a roadmap for improving climate in India. The Committee is likely to submit its report… Read More
CLR Important | Provision Regarding ˜Key Managerial Personnel™ in the Companies Bill, 2012
The Companies Bill, 2012, as passed by Lok Sabha, inter-alia, incorporates provisions (Clause 203) regarding appointment of ˜Key Managerial Personnel™ (KMP) which provides that every Company, belonging to such class or classes of company as may be prescribed, shall have a Company Secretary as whole-time key managerial personnel. Giving this information in written reply to… Read More
Unpaid and Unclaimed Dividends with Companies
According to data available on the ˜MCA21™ portal of the Ministry of Corporate Affairs, an amount of Rs.1,101.35 crore is presently available with 1,406 companies on account of unpaid and unclaimed dividends. Giving this information in written reply to a question in the Lok Sabha today Shri Sachin Pilot, Minister of Corporate Affairs, said that… Read More
Creation and launch of an Exchange Traded Fund comprising stocks of listed CPSEs
The Cabinet Committee on Economic Affairs today approved the setting up of a Central Public Sector Enterprises (CPSE) Exchange Traded Fund (ETF), which would comprise CPSE stocks (from amongst the listed CPSE stocks). Each stock would have a fixed weightage in the basket. The composition of the basket, the launch of the New Fund Offer… Read More
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