FEMA - Corporate Law Reporter

Revised Reporting System for Priority Sector Lending

RBI/2012-13/364 RPCD.CO.Plan. BC 56/04.09.01/2012-13 January 07, 2013 The Chairman/ Managing Director/ Chief Executive Officer [All scheduled commercial banks (excluding Regional Rural Banks)] Madam/Dear Sir, Priority Sector Lending - Revised Reporting System Please refer to the revised priority sector guidelines issued vide circular RPCD.CO. Plan. BC.13/04.09.01/2012-13 dated July 20, 2012 wherein it was advised that separate guidelines relating… Read More

Revised Guidelines on Credit Default Swaps (CDS) for Corporate Bonds

RBI/2012-13/366 IDMD.PCD.No.10 /14.03.04/2012-13 January 7, 2013 All Market Participants Dear Sir/Madam, Revised Guidelines on Credit Default Swaps (CDS) for Corporate Bonds A reference is invited to the guidelines on CDS issued vide circular IDMD.PCD.No. 5053 /14.03.04/2010-11 dated May 23, 2011. 2. Based on the feedback received from the market and suggestions of the Technical Advisory Committee… Read More

External Commercial Borrowings Policy on Infrastructure Finance

RBI/2012-13/367 A.P. (DIR Series) Circular No. 69 January 07, 2013 To, All Category - I Authorised Dealer Banks Madam / Sir, External Commercial Borrowings (ECB) Policy Non-Banking Financial Company Infrastructure Finance Companies (NBFC-IFCs) Attention of Authorized Dealer Category-I banks is invited to A. P. (DIR Series) Circular No. 51 dated May 11, 2010 relating to External Commercial… Read More

Revised Guidelines on Ready Forward Contracts in Corporate Debt Securities

RBI/2012-13/365 IDMD.PCD.09/14.03.02/2012-13 January 7, 2013 To All Market Participants Dear Sir/Madam, Revised Guidelines on Ready Forward Contracts in Corporate Debt Securities As part of the measures to develop the corporate bond market, repo transactions were permitted in corporate debt securities vide the Directions issued through the notification no IDMD.DOD. 04/11.08.38/ 2009-10 dated January 8, 2010… Read More

DGFT makes modifications of SIONs

(To be published in the Gazette of India Extraordinary) (Part-I- Section-1) Government of India Ministry of Commerce & Industry Department of Commerce Directorate General of Foreign Trade Public Notice No. 43 (RE: 2012)/2009-2014 New Delhi: Dated: 2nd January, 2013 Subject: Modification of SIONs at Sl No.C-1188,1206,1207,1208,1209,1314,1702 and 1971 In exercise of the powers conferred under Paragraph… Read More

Inclusion of Chapter Offices of FIEO

TO BE PUBLISHED IN THE GAZETTE OF INDIA EXTRAORDINARY PART-1, SECTION-1 GOVERNMENT OF INDIA MINISTRY OF COMMERCE AND INDUSTRY DEPARTMENT OF COMMERCE DIRECTORATE GENERAL OF FOREIGN TRADE Public Notice No. 44 (RE 2012)/2009-2014 NEW DELHI, DATED THE 2nd JANUARY, 2013 Subject: - Inclusion of Chapter Offices of FIEO in Appendix-2 of Handbook of Procedures Vol.1.… Read More

DGFT makes amendments in Reward/Incentive Schemes

TO BE PUBLISHED IN THE GAZETTE OF INDIA EXTRAORDINARY PART-1 SECTION-1 GOVERNMENT OF INDIA MINISTRY OF COMMERCE & INDUSTRY DEPARTMENT OF COMMERCE DIRECTORATE GENERAL OF FOREIGN TRADE Public Notice No. 42(RE2012)/2009-14 Dated: 31st December, 2012 Subject: Amendments in the Reward/Incentive Schemes of Chapter 3 of Foreign Trade Policy 2009-14 - Appendix 37A, Appendix 37C and Appendix 37D… Read More

Annual Report on Banking Ombudsman Scheme, 2011-12

The Reserve Bank of India in the month of January 2013 has set up a working group in order to evaluate and make improvements in the current grievance redressal mechanism for bank customers. The working group has been constituted by the RBI to review, update, and revise the Banking Ombudsman Scheme (BOS), 2006. As per the… Read More

Classification and Reporting of Frauds

RBI/2012-13/363 DBS.FrMC.BC.No.5/23.04.001/2012-13 January 04, 2013 The Chairmen & Chief Executive Officers of all Scheduled Commercial Banks (excluding RRBs) and All India Select Financial Institutions Dear Sir, Frauds Classification and Reporting Please refer to our letter DBS. FrMC. BC. No.1 /23.04.001/2012-13 dated July 02, 2012 i.e. the Master Circular on 'Frauds Classification and Reporting'. 2. In view of… Read More

Constitution of Fourteenth Finance Commission

As mandated by the Article 280 of the Constitution, the Government has constituted the Fourteenth Finance Commission consisting of Dr. Y.V.Reddy, former Governor Reserve Bank of India, as the Chairman and the following four other members, namely: - 1. Prof Abhijit SenMember, Planning Commission Member(Part Time) 2. Ms. Sushma NathFormer Union Finance Secretary Member 3. Dr. M.Govinda… Read More

Finance Minister: Need to Revive investment in Manufacturing and Service Sector

The Finance minister has said that there is a need to revive investments in the manufacturing and service sector in order to create more job opportunities. The Finance Minister said that at present, the economy is passing through a difficult phase mainly due to external factors and, therefore, there is immediate need to tide over… Read More

Exchange Rate of Foreign Currency Related to imported and Export Goods

In exercise of the powers conferred by section 14 of the Customs Act, 1962 (52 of 1962), and in super session of the notification of the Government of India in the Ministry of Finance (Department of Revenue) No.111/2012-CUSTOMS (N.T.), dated the 20th December, 2012 vide number S.O.2966 (E), dated the 20th December, 2012, except as respects things done or… Read More

FM Statement on Inclusive Growth

The Finance Minister has stated that Agriculture Growth Vital for inclusive Growth The Union Finance Minister Shri P .Chidambaram said that Agriculture and Allied Sectors are critical sectors for inclusive growth. The agriculture growth rate for the 11th Plan has been targeted at 3.3 per cent as compared to 2.2 per cent achieved during the… Read More