FEMA - Corporate Law Reporter

Auction for Sale (Re-issue) of ˜8.20 per cent Government Stock, 2025™

Government of India Ministry of Finance Department of Economic Affairs Budget Division New Delhi, dated January 28, 2013 NOTIFICATION Auction for Sale (Re-issue) of ˜8.20 per cent Government Stock, 2025™ F. No.4 (5)-W&M/2012(i): Government of India hereby notifies sale (reissue) of ˜8.20 per cent Government Stock, 2025™ (hereinafter called 'the Stock') for an aggregate amount… Read More

Auction for Sale (Re-issue) of ˜8.30 per cent Government Stock, 2042™

Government of India Ministry of Finance Department of Economic Affairs Budget Division New Delhi, dated January 28, 2013 NOTIFICATION Auction for Sale (Re-issue) of ˜8.30 per cent Government Stock, 2042™ F. No.4 (5) W&M/2012(ii): Government of India hereby notifies sale (Re-issue) of 8.30 per cent Government Stock 2042 for an aggregate amount of Rs. 3,000… Read More

RBI Circular on Standardisation of Interest Rate Swap Contracts

RBI/2012-13/396 IDMD.PCD.2191/14.03.01/2012-13 January 28, 2013 All Market Participants Madam/Sir, Standardisation of Interest Rate Swap (IRS) Contracts A reference is invited to RBI circular Ref.No.MPD.BC.187/07.01.279/1999-2000 dated July 7, 1999. 2. To improve tradability and facilitate centralized clearing and settlement of IRS contracts in future, it has been decided to standardise IRS contracts. 3. The standardisation of IRS… Read More

RBI Clarifications on KYC/AML Rules pertaining to “Beneficial Owner” Status

RBI/2012-13/395 UBD.BPD (PCB) Cir. No.34/14.01.062/2012-13 January 28, 2012 The Chief Executive Officer of All Primary (Urban) Co-operative Banks Madam/Dear Sir, Know Your Customer (KYC) Norms/Anti-Money Laundering (AML) Measures/Combating of Financing of Terrorism (CFT) / Obligations of banks under Prevention of Money Laundering Act (PMLA), 2002 Please refer to paragraph 2.4 (a) of Master Circular UBD.BPD. (PCB).MC.No.… Read More

Revision in the norms for the scheme ˜Special Industry Initiative Scheme for Jammu & Kashmir (Udaan)™

The Cabinet Committee on Economic Affairs has approved the modification in the Scheme ˜Special Industry Initiative for Jammu & Kashmir™ (Udaan) to make it more flexible and relevant. Within the overall central assistance of Rs.750 crore, the flexibility to appropriate the budget among different expense heads will be allowed. Public Sector Undertakings (PSUs) have now… Read More

Memorandum of Instructions for Opening and Maintenance of Rupee / Foreign Currency Vostro Accounts of Non-resident Exchange Houses

RBI/2012-13/394 A. P. (DIR Series) Circular No. 81 January 24, 2013 To, All Authorised Dealer Category - I Banks Madam / Sir, Memorandum of Instructions for Opening and Maintenance of Rupee / Foreign Currency Vostro Accounts of Non-resident Exchange Houses Attention of Authorised Dealer Category I (AD Category I) banks is invited to Part (B)… Read More

Interest Rates on and Premature Withdrawal of Rupee Term Deposits

RBI/2012-13/393 DBOD.No.Dir.BC. 74/13.03.00/2012-13 January 24, 2013 All Scheduled Commercial Banks (excluding RRBs) Dear Sir/Madam Interest Rates on and Premature Withdrawal of Rupee Term Deposits In terms of our mailbox clarification dated May 16, 2007, deposits of `15 lakh or any higher threshold approved by the Boards of banks have been termed wholesale deposits. The term bulk… Read More

Retail issue of Subordinated Debt for raising Tier II capital

RBI No. 2012-13/392 DBOD.BP.BC. No.72/21.01.002/2012-13 January 24, 2013 The Chairman and Managing Directors/ Chief Executive Officers of All Commercial Banks (excluding RRBs) Dear Sir Retail issue of Subordinated Debt for raising Tier II capital Please refer to our circular DBOD.BP.BC.No.69/21.01.002/2009-10 dated January 13, 2010 on the above subject, advising banks to adhere to certain conditions, while issuing… Read More

Foreign investment in India by SEBI registered FIIs in Government securities and corporate debt

RBI/2012-13/391 A. P. (DIR Series) Circular No.80 January 24, 2013 To All Category-I Authorised Dealer Banks Madam / Sir, Foreign investment in India by SEBI registered FIIs in Government securities and corporate debt Attention of Authorized Dealer Category-I (AD Category-I) banks is invited to Schedule 5 to the Foreign Exchange Management (Transfer or Issue of… Read More

RBI Clarification on Exchange Earner’s Foreign Currency Account

A.P.(DIR Series) Circular No. 79 January 22, 2013 To All Category - I Authorized Dealer Banks Madam/ Sir, Exchange Earner's Foreign Currency (EEFC) Account, Diamond Dollar Account (DDA) & Resident Foreign Currency (RFC) Domestic Account 1. Attention of Authorised Dealer (AD) Category - I banks is invited to A.P. (DIR Series) Circulars Nos. 15, 124, 128, 8 and 12 dated November 30,… Read More

Engineering Sector Inclusion in pre and post shipment Rupee Export Credit

RBI/2012-13/389 UBD.BPD. (AD) Cir.No.2 /13.05.000/2012-13 January 22, 2013 Chief Executive Officer Scheduled Primary (Urban) Co-operative Banks (holding AD Category I licence) Dear Sir/Madam Interest Rates on Rupee Export Credit -UCBs Please refer to circular UBD.BPD.(AD) Cir. No.8 /13.05.000/2011-12 dated June 26, 2012 extending the interest subvention on rupee export credit on specified export sectors till March 31,… Read More

Explanation of salient terms of KYC norms under Anti Money Laundering Standards

RBI/2012-13/388 RPCD.RRB.RCB.BC.No. 59 /07.51.018/2012-13 January 22, 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 paragraph 3 of… Read More

Revised Lending Rates to Central Government Units

The lending rates prescribed in the aforesaid Office Memorandum have been reviewed. The revised rates of interest applicable from 1st April, 2012 are given in the document attached. Download the full circular here. Read More