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.
A:544, Tower B2, Spaze i-Tech Park Gurgaon, Haryana, India
State Bank of Bikaner & Jaipur (SBBJ), a Public Sector Bank introduced Financial Super Market concept in Jaipur on 08.08.2012. SBBJ Financial Super market branch at Jaipur primarily sell and service products of its Channel partners like SBI Life, Mutual Fund, SBI General and SBI Card, both across the counters and through electronic means. The… Read More
Interest rates on advances have been de-regulated by the Reserve Bank of India (RBI). The banks determined their actual lending rates on loans and advances with reference to their Base Rate and by including such other customer specific changes as considered appropriate. A statement is annexed. As per the guidelines of RBI, Base Rate system… Read More
The details of complaints regarding Direct Selling Agents/Recovery Agents received against the Scheduled Commercial Banks (SCBs) by the Offices of the Banking Ombudsman and disposed off during the last three years are as under: Bank Group 2009-10 2010-11 2011-12 2012-13 (July -Jan) SBI & Associates 306 62 87 44 Nationalised banks 351 58 58 29 Private Sector Banks 669 928 223 111… Read More
The number and amount of loans sanctioned by the banks to Self Help Groups (SHGs) during the last three years and the current year(upto January, 2013), year-wise and State-wise as reported by NABARD are given in Annexure-I. In order to provide flexibility to SHGs to deposit their available surplus savings with the bank and draw… Read More
After the Second Quarter Review of Monetary Policy 2011-12 by the Reserve Bank of India (RBI), a Working Group (WG) was constituted under the Chairmanship of Shri B. Mahapatra, Executive Director, RBI to review the existing prudential guidelines on restructuring of advances by banks/financial institutions and suggest revisions taking into account the best international practices… Read More
The banks install ATMs as per their assessed need and Business Plan. Banks also install ATMs with Biometric Authentication after assessing the specific needs and requirement, particularly in areas where the customers might have difficulty in using PIN based authentication. Installation of ATMs is part of the business activity of the banks and no funds… Read More
Under Umbrella Programme on Natural Resource Management(UPNRM), the German Development Corporation(GDC) has sanctioned assistance to NABARD in two phases. UPNRM Phase-I has a loan component of 15 Million Euro and a grant component of 12.9 Million Euro, totaling 27.9 Million Euro. UPNRM Phase-II has a loan component of 52 Million Euro and grant component of… Read More
The thirty first meeting of the Technical Advisory Committee (TAC) on Monetary Policy was held on January 23, 2013 in the run up to the Third Quarter Review of Monetary Policy 2012-13 on January 29, 2013. The main points of discussion in the meeting are set out below. On global economic conditions, most of the… Read More
The Union Finance Minister Shri P. Chidambaram, will dedicate the Centralized Processing Cell for Tax Deducted at Source, CPC (TDS) to the nation tomorrow. The CPC (TDS) will be situated at Aayakar Bhawan, Sector-3, Vaishali, Ghaziabad (UP). It will provide the tax deductors, taxpayers and the Assessing Officers, a wide range of online services related… Read More
Cooperative Credit Societies are not required to obtain banking licence from the Reserve Bank of India (RBI) under the provisions of the Banking Regulation Act, 1949. As per the existing instructions of RBI, the Primary Agricultural Cooperative Credit Societies (PACS) are not authorised to collect deposits from the public except members. They offer deposit services… Read More
Penetration of Insurance Policies; IRDA to Come-Out With a New Policy Giving Automatic Clearance to Standard Life Insurance Products and Relax Investment Guidelines to Encourage Flow of Funds into Infrastructure Sector Insurance companies, both life and non-life sector have initiated number of steps to increase insurance penetration across the country. These include, inter alia, opening of… Read More
The details furnished by Reserve Bank of India (RBI) in respect of Scheduled Commercial Banks pertaining to frauds relating to ATMs/Debit Cards/ Internet Banking and Credit Cards is as under : (Rs. In lakhs) Sl. No. Calendar Year Total cases reported Amount involved 1. 2010 15018 4048.94 2. 2011 9588 3672.19 3. 2012 8322 5266.95… Read More
Preamble Over the last two decades, the Reserve Bank of India (RBI) licensed twelve banks in the private sector. This happened in two phases. Ten banks were licensed on the basis of guidelines issued in January 1993. The guidelines were revised in January 2001 based on the experience gained from the functioning of these banks,… Read More
Corporate Law Referencer
Get A Demo Today !