FEMA - Corporate Law Reporter

Application of Minimum Capital Adequacy Norms to State and Central Cooperative Banks (StCBs/DCCBs)

RBI/2015-16/335 DCBR.CO.RCBD.Cir.No. 12/19.51.012/2015-16 Phalguna 20, 1937 March 10, 2016 The Chairman/Managing Director All State and Central Cooperative Banks Dear Sir / Madam, Application of Minimum Capital Adequacy Norms to State and Central Cooperative Banks (StCBs/DCCBs) Please refer to the circulars RPCD.CO.RF.BC.40/07.38.03/2007-08 dated December 4, 2007 and RPCD.RCB.BC.73/07.51.012/2013-14 dated January 7, 2014 on the captioned subject.… Read More

Master Circular – Basel III Capital Regulations – Revision

RBI/2015-16/331 DBR.No.BP.BC.83/21.06.201/2015-16 March 1, 2016 All Scheduled Commercial Banks (Excluding Local Area Banks and Regional Rural Banks) Madam / Sir, Master Circular – Basel III Capital Regulations - Revision Please refer to Master Circular DBR.No.BP.BC.1/21.06.201/2015-16 dated July 1, 2015 on ‘Basel III Capital Regulations’. The treatment of certain balance sheet items, as per the extant… Read More

Master Direction – Reserve Bank of India (Interest Rate on Deposits) Directions, 2016

RBI/DBR/2015-16/19 Master Direction DBR. Dir. No.84/13.03.00/2015-16 March 03, 2016 Master Direction - Reserve Bank of India (Interest Rate on Deposits) Directions, 2016 In exercise of the powers conferred by conferred by Sections 21 and 35 A of the Banking Regulation Act, 1949, the Reserve Bank of India being satisfied that it is necessary and expedient… Read More

Master Direction – Reserve Bank of India (Interest Rate on Advances) Directions, 2016

RBI/DBR/2015-16/20 Master Direction DBR.Dir.No.85/13.03.00/2015-16 March 03, 2016 Master Direction - Reserve Bank of India (Interest Rate on Advances) Directions, 2016 In exercise of the powers conferred by conferred by Sections 21 and 35 A of the Banking Regulation Act, 1949, the Reserve Bank of India being satisfied that it is necessary and expedient in the… Read More

Review of Prudential Guidelines – Revitalising Stressed Assets in the Economy

BI/2015-16/330 DBR.BP.BC.No.82/21.04.132/2015-16 February 25, 2016 All Scheduled Commercial Banks (excluding RRBs) All-India Term-lending and Refinancing Institutions (Exim Bank, NABARD, NHB and SIDBI) Dear Sir, Review of Prudential Guidelines - Revitalising Stressed Assets in the Economy The Reserve Bank of India has issued various guidelines aimed at revitalising the stressed assets in the economy. The measures… Read More

Know Your Customer (KYC) Direction, 2016

RBI/DBR/2015-16/18 DBR.AML.BC.No.81/14.01.001/2015-16 February 25, 2016 Know Your Customer (KYC) Direction, 2016 In terms of the provisions of Prevention of Money-Laundering Act, 2002 and the Prevention of Money-Laundering (Maintenance of Records) Rules, 2005, Regulated Entities (REs) are required to follow certain customer identification procedure while undertaking a transaction either by establishing an account based relationship or… Read More

Threshold for monitoring of frauds in NBFCs (All Deposit taking NBFCs, including RNBCs and NBFCs- ND-SI)

RBI has decided to revise the threshold for monitoring of frauds in NBFCs (All Deposit taking NBFCs, including RNBCs and NBFCs- ND-SI). The threshold for reporting frauds and submission of quarterly progress reports on frauds to Central Fraud Monitoring Cell, Reserve Bank of India, Department of Banking Supervision, has been revised from Rs. 25 lakh as on date to… Read More

Frauds – Future approach towards monitoring of frauds in NBFCs

RBI/2015-16/327 DNBR (PD) CC.No.075/03.10.001/2015-16 February 18, 2016 All Deposit taking NBFCs (including RNBCs) and NBFCs- ND-SI Madam/ Sir, Frauds - Future approach towards monitoring of frauds in NBFCs Please refer to circulars DNBS.PD.CC.No.127/ 03.10.42/2008-09 dated August 14, 2008, DNBS.PD.CC.No.256/03.10.042/2011-12 dated March 02, 2012 andDNBS.PD.CC.No.314/03.10.042/2012-13 dated December 13, 2012 on the captioned subject. It has been… Read More

Undertaking of Point of Presence (PoP) Services under Pension Fund Regulatory and Development Authority for National Pension System (NPS)

RBI/2015-16/324 DNBR (PD) CC.No. 073/03.10.001/2015-16 February 18, 2016 All Non-Banking Financial Companies Madam/ Sir, Undertaking of Point of Presence (PoP) Services under Pension Fund Regulatory and Development Authority for National Pension System (NPS) The Reserve Bank of India (the Bank) has received proposals from Non- Banking Financial Companies (NBFCs), seeking approval for undertaking of Point of Presence… Read More

NBFC – Factors (Reserve Bank) Directions, 2012 – Review

RBI/2015-16/326 DNBR.CC.PD.No.074/03.10.01/2015-16 February 18, 2016 To All Non-Banking Financial Companies (NBFCs) – Factors. NBFC – Factors (Reserve Bank) Directions, 2012 – Review The Reserve Bank of India had reviewed the guidelines on provision of factoring services by banks and specified certain conditions under which banks can departmentally undertake factoring activities. To ensure against regulatory gaps/… Read More

Repurchase of Government Stocks

GOVERNMENT OF INDIA MINISTRY OF FINANCE (Department of Economic Affairs) (Budget Division) New Delhi, the February 17, 2016. NOTIFICATION Repurchase of Government Stocks F. No.4(5)-W&M/2015: The Government of India hereby notifies repurchase of (i) 7.59 per cent Government Stock 2016, (ii) 10.71 per cent Government Stock 2016, and (iii) 7.02 per cent Government Stock 2016… Read More

Interest Equalisation Scheme on Pre and Post Shipment Rupee Export Credit

RBI/2015-16/322 DCBR.CO.SCB.Cir. No. 1/13.05.000/2015-16 Magha 22,1937 February 11, 2016 To Chief Executive Officers Primary (Urban) Cooperative Banks (Scheduled Banks holding AD Category I Iicences) Dear Sir/Madam Interest Equalisation Scheme on Pre and Post Shipment Rupee Export Credit The Government of India has announced the Interest Equalisation Scheme on Pre and Post Shipment Rupee Export Credit… Read More

Regulatory Relaxations for Startups- Clarifications relating to Issue of Shares

RBI/2015-16/319 A.P. (DIR Series) Circular No. 52 February 11, 2016 To, All Authorised Dealer Category – I Banks Madam/Sir, Regulatory Relaxations for Startups- Clarifications relating to Issue of Shares Attention of Authorised Dealer Category - I (AD Category-I) banks is invited to the Foreign Exchange Management (Transfer or Issue of Security by a Person Resident… Read More