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eMinds Legal Consulting Pvt. Ltd. is a Consulting Firm in India specialzing in Corporate Laws, Compliances, Secretarial, FEMA, Indirect Taxation, Cyber Laws & Contracts. The Firm comprises of a team of professionals of Company Secretaries, Lawyers and Chartered Accountants with an in-depth subject matter knowledge and participative industry experience of over 15 years.
RBI Central Board meet today at Mumbai; Governor meets State Government and Bankers
The Central Board of Directors of the Reserve Bank of India met today at Mumbai. Dr. D. Subbarao, Governor, Reserve Bank of India chaired the meeting. Shri Y. H. Malegam, Prof U. R. Rao, Shri Lakshmi Chand, Shri H. P. Ranina, Shri Suresh Neotia, Dr. A. Vaidyanathan, Prof. M. M. Sharma and Shri Sanjay Labroo… Read More
RBI releases Its Monthly RBI Bulletin for August 2011
The Reserve Bank of India today released the August issue of its Monthly RBI Bulletin. The August Bulletin carries four special articles: Developments in India's Balance of Payments during Fourth Quarter (January-March) of 2010-11 India's External Debt as at end-March 2011 Inflation Expectations Survey of Households: June 2011 (Round 24) Quarterly Industrial Outlook Survey: April-June 2011… Read More
RBI Releases Draft Guidelines on Internal Risk Based (IRB) Approach for Calculating Credit Risk Capital Charge
The Reserve Bank of India today released on its website, draft guidelines on Internal Rating Based (IRB) Approach for calculating credit risk capital charge. Comments/feedback on the draft guidelines may please be emailed before September 9, 2011 or mailed to the Chief General Manager-in-Charge, Department of Banking Operations and Development, Reserve Bank of India, Central Office Building, 12th Floor,… Read More
Short-collection/Non-collection of client margins (Derivatives Segments)
CIR/DNPD/7/2011 August 10, 2011 To Managing Director/ Chief Executive Officer Recognized Stock Exchanges Dear Sir/Madam, Sub: Short-collection/Non-collection of client margins (Derivatives Segments) 1. In consultation with BSE, MCX-SX, NSE and USE, it has been decided that Stock Exchanges shall levy penalty specified hereunder on trading members for shortcollection/non-collection of margins from clients in Equity and… Read More
RBI releases Report of the Committee to Review Facilities for Individuals under FEMA, 1999
The Reserve Bank of India (RBI) today placed on its website (www.rbi.org.in) the Report of the Committee to Review the Facilities for Individuals under Foreign Exchange Management Act (FEMA), 1999. The Report was submitted to the Reserve Bank of India on August 8, 2011. Pursuant to the announcement in the Annual Monetary Policy for 2011-12, a… Read More
Teachers’ Co-operative Bank Limited, Udupi, Karnataka Penalised
The Reserve Bank of India has imposed a monetary penalty of ` 5.00 lakh (Rupees five lakh only) on Teachers' Co-operative Bank Limited, Udupi, Karnataka, in exercise of powers vested in it under the provisions of Section 47(A)(1)(b) read with Section 46(4) of the Banking Regulation Act, 1949 (AACS) for violation of Reserve Bank of India's directives… Read More
Dr. Subbarao re-appointed RBI Governor for two more years
Press Release : 2011-2012/216 The Government of India today approved the extension of the term of Dr. D. Subbarao as the Governor of the Reserve Bank of India. Dr. Subbarao™s term has been extended for a period of two years with effect from September 5, 2011 up to September 4, 2013. Dr. Subbarao was appointed… Read More
RBI announces rate of interest on Floating Rate Bonds 2015(II)
Press Release : 2011-2012/214 The rate of interest on the Floating Rate Bonds, 2015(II) [FRB, 2015(II)] applicable for the year (August 10, 2011 to August 9, 2012) shall be 8.82 per cent per annum. It may be recalled that the rate of interest on the FRB, 2015(II) was set at a mark-up (as decided in… Read More
Reverse Repo Window under Liquidity Adjustment Facility and Marginal Standing Facility Change of Timing
RBI/2011-2012/149 FMD.MOAG. No.62/01.01.01/2011-12 All Scheduled Commercial Banks (excluding RRBs) and Primary Dealers Dear Sir, Reverse Repo Window under Liquidity Adjustment Facility and Marginal Standing Facility Change of Timing Presently, Repo and Reverse Repo auctions under Liquidity Adjustment Facility (LAF) are conducted between 9.30 am and 10.30 am and the Marginal Standing Facility (MSF) is available… Read More
Opening of ‘Small Account’
RBI/2011-12/147 RPCD.CO RRB.AML.BC.No.15 /03.05.33(E)/2011-12 The Chairmen All Regional Rural Banks (RRBs) Dear Sir, Opening of 'Small Account' Please find enclosed a copy of the Government of India, Notification No.14/2010/F.No.6/2/2007-E.S. dated December 16, 2010, amending the Prevention of Money-laundering (Maintenance of Records of the Nature and Value of Transactions, the Procedure and Manner of Maintaining and… Read More
Auction of Government of India Dated Securities
Ref.No.IDMD / 675 /08.02.032/2010-11 All Scheduled Commercial Banks / All State Co-operative Banks/All Scheduled Primary (Urban) Co-operative Banks /All Financial Institutions/ All Primary Dealers Dear Sirs, Auction of Government of India Dated Securities Government of India have offered to sell (re-issue) (a) 7.83 percent Government Stock 2018 for a notified amount of Rs.3,000 crore… Read More
RBI circular on Investment in the units of Domestic Mutual funds
RBI/2011-12/148 A.P. (DIR Series) Circular No. 08 August 9, 2011 To, All Category I Authorized Dealer banks Madam / Sir, Investment in the units of Domestic Mutual funds Attention of Authorized Dealers Category I (AD Category - I) banks is invited to Schedule 5 to the Foreign Exchange Management (Transfer or Issue of Security by a… Read More
Auction for Sale (Re-issue) of ˜7.80 per cent Government Stock, 2021™
Government of India Ministry of Finance Department of Economic Affairs Budget Division New Delhi, dated August 08, 2011 NOTIFICATION Auction for Sale (Re-issue) of ˜7.80 per cent Government Stock, 2021™ F. No.4 (4) W&M/2011(i): Government of India hereby notifies sale (re-issue) of ˜7.80 per cent Government Stock, 2021™ (hereinafter called 'the Stock') for an aggregate… Read More
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