FEMA - Corporate Law Reporter

Transactions in derivatives by regulated institutional entities on electronic platforms

RBI/2015-16/392 FMRD.DIRD.No.9/14.03.01/2015-16 May 5, 2016 All Market Participants Dear Madam/Sir, Transactions in derivatives by regulated institutional entities on electronic platforms A reference is invited to para 37 of the First Bi-monthly Monetary Policy Statement announced on April 5, 2016, in terms of which, it was proposed to review the existing guidelines on OTC derivatives in… Read More

Currency Distribution & Exchange Scheme (CDES) for bank branches based on performance in rendering customer service to the members of public

RBI/2015-16/393 DCM (CC) No.G-10/3352/03.41.01/2015-16 May 05, 2016 The Chairman & Managing Director / Chief Executive Officer, All Banks Madam / Dear Sir, Currency Distribution & Exchange Scheme (CDES) for bank branches based on performance in rendering customer service to the members of public Please refer to our Circular DCM (CC) No.4846/03.41.01/2014-15 dated May 21, 2015… Read More

RBI releases Discussion Paper on margin requirements for non-centrally cleared derivatives

The Reserve Bank of India has today placed on its website the Discussion Paper on margin requirements for non-centrally cleared derivatives. RBI invites feedback/comments on the policy proposals contained in this document, especially on the specific questions raised in the paper. The feedback/comments on the policy proposals contained in this document, especially on the specific… Read More

Foreign Exchange Management (Remittance of Assets) Regulations, 2016

RBI/2015-16/384 A.P. (DIR Series) Circular No. 64/2015-16 [(1)/13(R)] April 28, 2016 To All Category - I Authorised Dealer and Authorised Banks Madam/ Sir Foreign Exchange Management (Remittance of Assets) Regulations, 2016 Attention of Authorised Dealers (ADs) is invited to (a) A.D. (M.A. Series) Circular No. 11 dated May 16, 2000 in terms of which ADs… Read More

Risk Weight in respect of investments in Corporate Bonds by Standalone Primary Dealers (SPDs)

RBI/2015-16/388 DNBR.CO.PD.No.080/03.10.01/2015-16 April 28, 2016 All Standalone Primary Dealers Madam/ Sir, Risk Weight in respect of investments in Corporate Bonds by Standalone Primary Dealers (SPDs) In terms of the Capital Adequacy Standards and Risk Management Guidelines for SPDs, risk weight of 100% has been stipulated in respect of investments in corporate bonds, for the purpose… Read More

F-TRAC – Counterparty Confirmation

RBI/2015-16/387 FMRD.FMID.8/14.01.02/2015-16 April 28, 2016 All RBI regulated entities Madam/Sir, F-TRAC – Counterparty Confirmation A reference is invited to RBI circular FMRD.FMID.01/14.01.02/2014-15 dated December 19, 2014 waiving the requirement of exchange of physical confirmation of trades matched on the Financial Market Trade Reporting and Confirmation Platform (“F- TRAC”) of the Clearcorp Dealing Systems (India) Ltd.… Read More

Opening and Maintenance of Rupee / Foreign Currency Vostro Accounts of Non-Resident Exchange Houses: Rupee Drawing Arrangement

RBI/2015-16/386 A.P. (DIR Series) Circular No.66 April 28, 2016 To, All Authorised Dealer Category-I Banks Madam / Sir, Opening and Maintenance of Rupee / Foreign Currency Vostro Accounts of Non- Resident Exchange Houses: Rupee Drawing Arrangement Attention of Authorized Dealer Category-I (AD Category-I) banks is invited to paragraph (C) 3 vii of the A. P.… Read More

Compliance with Jilani Committee Recommendations

RBI/2015-16/383 Ref.DBS.CO.PPD.BC.No.10/11.01.005/2015-16 April 28, 2016 The Chairman/Chief Executive All Scheduled Commercial Banks (Excluding RRBs) Madam/Dear Sir, Compliance with Jilani Committee Recommendations We invite attention to our circular DBS.CO.PPD.BC.No.39/11.01.005/99-2000 dated June 28, 2000 on Jilani Committee recommendations relating to frauds and malpractices in banks. Attention is also drawn to our circular DBS.ARS.BC.No.4/08.91.020/2010-11 dated November 10, 2010… Read More

Infrastructure Debt Funds (IDFs)

RBI/2015-16/381 DNBR(PD).CC.No. 079/03.10.001/2015-16 April 21, 2016 All Infrastructure Debt Fund- Non-Banking Financial Companies (IDF-NBFCs) Madam/ Sir, Infrastructure Debt Funds (IDFs) Please refer to the Infrastructure Debt Fund-Non-Banking Financial Companies (Reserve Bank) Directions, 2011 issued vide Notification No.DNBS.233/CGM(US)-2011 dated November 21, 2011 (the Directions) prescribing detailed guidelines on the regulatory framework for NBFCs to sponsor IDFs… Read More

Unsecured Exposure Norms for UCBs – Relaxation

RBI/2015-16/380 DCBR.CO.BPD. (PCB). No.15/13.05.000/2015-16 Vaishakha 01, 1938 April 21, 2016 The Chief Executive Officers All Primary (Urban) Co-operative Banks Dear Sir/Madam, Unsecured Exposure Norms for UCBs – Relaxation Please refer to our circulars UBD.BPD. (PCB) Cir No.45/13.05.000/2012-13 dated April 03, 2013 and UBD. CO. BPD. (PCB) Cir. No.29/13.05.000/2013-14 dated October 10, 2013 on the captioned… Read More

Guidelines on Investment Advisory Services offered by Banks

RBI/2015-16/379 DBR.No.FSD.BC.94/24.01.026/2015-16 April 21, 2016 All Scheduled Commercial Banks (excluding RRBs) Dear Sir/Madam, Guidelines on Investment Advisory Services offered by Banks Please refer to paragraphs 86, 87 and 88 of the Monetary Policy Statement 2013-14 and the subsequent draft guidelines on Wealth Management/Marketing/Distribution Services offered by Banks issued on June 28, 2013, seeking comments of… Read More

Master Direction – Amalgamation of Private Sector Banks, Directions, 2016

RBI/DBR/2015-16/22 Master Direction DBR.PSBD.No. 96/16.13.100/2015-16 April 21, 2016 Master Direction – Amalgamation of Private Sector Banks, Directions, 2016 In exercise of the powers conferred by Section 35A of the Banking Regulation Act, 1949 and pursuant to the Section 44A of the Banking Regulation Act, 1949, the Reserve Bank of India being satisfied that it is… Read More

Master Direction – Issue and Pricing of shares by Private Sector Banks, Directions, 2016

RBI/DBR/2015-16/21 Master Direction DBR.PSBD.No.95/16.13.100/2015-16 April 21, 2016 Master Direction - Issue and Pricing of shares by Private Sector Banks, Directions, 2016 In exercise of the powers conferred by 35 A of the Banking Regulation Act, 1949 the Reserve Bank of India being satisfied that it is necessary and expedient in the public interest so to… Read More