FEMA - Corporate Law Reporter

Auction for Sale (Re-issue) of ˜8.07 per cent Government Stock, 2017-JUL™

Government of India Ministry of Finance Department of Economic Affairs Budget Division New Delhi, dated February 04, 2013 NOTIFICATION Auction for Sale (Re-issue) of ˜8.07 per cent Government Stock, 2017-JUL™ F. No.4 (5)-W&M/2012: Government of India hereby notifies sale (re-issue) of ˜8.07 per cent Government Stock, 2017-JUL™ (hereinafter called 'the Stock') for an aggregate amount… Read More

Auction for Sale (Re-issue) of ˜8.15 per cent Government Stock, 2022™

Government of India Ministry of Finance Department of Economic Affairs Budget Division New Delhi, dated February 04, 2013 NOTIFICATION Auction for Sale (Re-issue) of ˜8.15 per cent Government Stock, 2022™ F. No.4 (5)-W&M/2012(i): Government of India hereby notifies sale (reissue) of ˜8.15 per cent Government Stock, 2022™ (hereinafter called 'the Stock') for an aggregate amount… Read More

Auction for Sale (Re-issue) of ˜8.97 per cent Government Stock, 2030™

Government of India Ministry of Finance Department of Economic Affairs Budget Division New Delhi, dated February 04, 2013 NOTIFICATION Auction for Sale (Re-issue) of ˜8.97 per cent Government Stock, 2030™ F. No.4 (5) W&M/2012 (ii): Government of India hereby notifies sale (re-issue) of ˜8.97 per cent Government Stock, 2030™ (hereinafter called 'the Stock') for an… Read More

Green Channel Policy for DGS&D Rate Contracts

Green Channel Policy for DGS&D Rate Contracts Treating the Firms Deemed Registered and Dispensing with Pre-Dispatch Inspection of Stores by DGS&D A major policy initiative has been taken by Department of Commerce, Government of India, to grant Green Channel facility to the eligible firms, having annual turn-over of Rs. 1000 crore or more, by treating… Read More

FM Statement on growth policies and fiscal consolidation

Finance Minister Reiterates the Commitment of the Government for Observing the path of Fiscal Consolidation and Imposition of Fiscal Targets and Policies to take the Economy back to the Path of Higher Growth The Union Finance Minister Shri P. Chidambaram reiterated the commitment of the Government for observing the path of fiscal consolidation and imposition… Read More

RBI clarifies KYC norms in the event of Shifting of bank accounts to another centre

RBI/2012-13/410 RPCD.RRB.RCB.BC.No. 63 /07.51.018/2012-13 January 30, 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 Please refer to our circular RPCD.CO.RRB.RCB.AML.No.6097/07.51.018/ 2012-13 dated… Read More

RBI allows Indian Companies in Hotel Sector to Avail Benefits under ECB

Union Tourism Minister Shri Chiranjeevi has welcomed the decision of Reserve Bank of India to allow Indian companies in the hotel sector to avail benefits under the ECB (External Commercial Borrowings) scheme to repay their outstanding rupee loans and or to finance fresh capital expenditure. In a statement issued here today the Minister said amended… Read More

Asian Development Bank provides Loan for Sustainable Urban Services

Government of India today signed an agreement for a $100 million loan with Asian Development Bank (ADB) as second tranche of Uttarakhand Urban Sector Development Investment Program which will support rehabilitation and expansion of basic urban infrastructure in five major urban centers of Uttarakhand and ensure sustainable municipal service delivery. The project will supplement the… Read More

Determination of Fair and Remunerative Price payable by sugar mills for 2013-14 sugar season

The Cabinet Committee on Economic Affairs has approved the fair and remunerative price of sugarcane payable by sugar mills for 2013-14 sugar season to be fixed at Rs.210/- per quintal. This price will be linked to a basic recovery rate of 9.5 percent, subject to a premium of Rs.2.21 per quintal for every 0.1 percentage… Read More

Amendments to Regional Rural Banks (RRBs) Act, 1976

The Union Cabinet today gave its approval to the proposed amendments in the Regional Rural Banks (RRBs) Act, 1976 to enhance authorized and issued capital to strengthen their capital base. The term of the non official directors appointed by the Central Government is proposed to be fixed not exceeding two years. The proposed amendments will… Read More

RBI circulars to State Co-op Banks on latest Bank Rates

RBI/2012-13/407 RPCD.CO.RRB.RCB.BC. No.62/03.05.33/2012-13 January 29, 2013 The Chairmen/Chief Executive Officers, All Regional Rural Banks / State and Central Co-operative Banks Dear Sir, Bank Rate As announced in the Third Quarter Review of Monetary Policy 2012-13, the Bank Rate stands adjusted by 25 basis points from 9.00 per cent to 8.75 per cent with effect from January… Read More

RBI circulars to State Co-op Banks on latest CRR

RBI/2012-13/406 RPCD.CO.RCB.RRB.BC.No. 61/03.05.33/2012-13 January 29, 2013 All Scheduled State Co-operative Banks / Regional Rural Banks Dear Sir, Section 42(1) of the Reserve Bank of India Act, 1934 - Maintenance of CRR Please refer to our Circular RPCD.CO.RCB.RRB.BC.No.39/03.05.33/2012-13 dated October 30, 2012, on the captioned subject. 2. As set out in the Reserve Bank™s Press Release 2012-2013/1267 dated… Read More

RBI notification on enhancing the role of standalone Primary Dealers in corporate debt market

RBI/2012-13/405 IDMD. PCD. No. 2223/14.03.05/2012-13 January 30, 2013 All Standalone Primary Dealers Dear Sir/Madam, With a view to enhance standalone Primary Dealers™ (PDs) role in corporate debt market, it has been decided to: Allow PDs a sub-limit of 50% of net owned funds for investment in corporate bonds within the overall permitted average fortnightly limit… Read More