RBI grants in-principle approval to three applicants for setting up Trade Receivables Discounting System (TReDS)
In the Union Budget for 2015-16 the Honourable Union Finance Minister had highlighted the need for and use of TReDS for improving flow of funds to MSME sector by reducing the receivables realisation cycles. TReDS will allow SMEs to post their receivables on the system and get them financed. This will not only give them… Read More
RBI grants ˜in-principle™ approval to NPCI to function as the central unit for Bharat Bill Payment Systems (BBPS)
The Reserve Bank of India has today decided to grant ˜in principle™ approval to the National Payments Corporation of India (NPCI) to function as the Bharat Bill Payment Central Unit (BBPCU) in BBPS. The Bharat Bill Payment System (BBPS), an integrated bill payment system, will function as a tiered structure for operating the bill payment… Read More
Implementation of UNSCR 2140(2014) and 2216(2015) pertaining to Yemen
RBI/2015-16/243 DBR.AML.No.6912/14.06.001/ 2015-16 November 20, 2015 The Chairpersons/ CEOs of all Scheduled Commercial Banks/ Regional Rural Banks/ Local Area Banks/All India Financial Institutions/ all NBFCs/ All Primary (Urban) Co-operative Banks /State and Central Co-operative Banks (StCBs / CCBs) /All Payment System Providers/ System Participants and Prepaid Payment Instrument Issuers/ All authorised persons including those who… Read More
Internet Banking Facility for Customers of Regional Rural Banks
CLR Note:The Reserve Bank of India (RBI) has issued a notification with Reference No. DBR.RRB.BC.No. 59/31.01.001/2015-16-16 dated November 19, 2015 in reference to Internet Banking Facility for Customers of Regional Rural Banks.The notification can be accessed as below: RBI/2015-16/242 DBR.RRB.BC.No. 59/31.01.001/2015-16 November 19, 2015 All Regional Rural Banks Dear Sir/Madam, Internet Banking Facility for Customers of Regional… Read More
Inclusion in the Second Schedule to the Reserve Bank of India Act, 1934
CLR Note:The Reserve Bank of India (RBI) has issued a notification with Reference No. DCBR CO. BPD.BC. No.7/16.05.000/2015-16 dated November 19, 2015 for Inclusion in the Second Schedule to the Reserve Bank of India Act, 1934, The notification can be accessed as below: **** RBI/2015-16/237 DCBR CO. BPD.BC. No.7/16.05.000/2015-16 Kartik 28, 1937 November 19, 2015 All Banks Dear… Read More
Prior Approval for acquisition of shares or voting rights in Private Sector Banks: Directions, 2015
CLR Note: The Reserve Bank of India (RBI) has issued a notification with Reference No. DBR.PSBD.No.56/16.13.100/2015-16 dated November 19, 2015 for Prior Approval for acquisition of shares or voting rights in Private Sector Banks: Directions, 2015. The notification can be accessed as below: **** RBI/2015-16/240 Master Direction No.DBR.PSBD.No.56/16.13.100/2015-16 November 19, 2015 Prior Approval for acquisition of shares… Read More
Non-Operative Financial Holding Company (NOFHC) Application of Capital Adequacy Norms
CLR Note:The Reserve Bank of India (RBI) has issued a notification with Reference No. DBR.No.BP.BC.57/21.06.201/2015-16 dated November 19, 2015 for Non-Operative Financial Holding Company (NOFHC) Application of Capital Adequacy Norms. The notification can be accessed as below: **** RBI/2015-16/238 DBR.No.BP.BC.57/21.06.201/2015-16 November 19, 2015 All Scheduled Commercial Banks (Excluding Local Area Banks and Regional Rural Banks) Madam… Read More
Non-Operative Financial Holding Company (NOFHC) Application of Capital Adequacy Norms
CLR Note:The Reserve Bank of India (RBI) has issued a notification with Reference No. DBR.No.BP.BC.57/21.06.201/2015-16 dated November 19, 2015 for Non-Operative Financial Holding Company (NOFHC) Application of Capital Adequacy Norms. The notification can be accessed as below: **** RBI/2015-16/238 DBR.No.BP.BC.57/21.06.201/2015-16 November 19, 2015 All Scheduled Commercial Banks (Excluding Local Area Banks and Regional Rural Banks) Madam… Read More
Provision of Factoring Services by Banks – Review
CLR Note:The Reserve Bank of India (RBI) has issued a notification with Reference No. DBR.No.BP.BC.57/21.06.201/2015-16 dated November 19, 2015 for Provision of Factoring Services by Banks - Review. The notification can be accessed as below: RBI/2015-16/238 DBR.No.BP.BC.57/21.06.201/2015-16 November 19, 2015 All Scheduled Commercial Banks (Excluding Local Area Banks and Regional Rural Banks) Madam / Sir, Non-Operative… Read More
Payment of agency commission Certification of claims by external auditors
CLR Note:The Reserve Bank of India(RBI) has issued a notification DGBA.GAD.No.1636/31.12.010/2015-16 dated November 10, 2015 prescribing the format for certification of agency commission claims by external auditors (Chartered Accountants). RBI/2015-16/233 DGBA.GAD.No. 1636/31.12.010/2015-16 November 10, 2015 The Chairman / Chief Executive Officer All agency banks Dear Sir / Madam Payment of agency commission Certification of claims… Read More
Risk Management & Inter-Bank Dealings: Relaxation of facilities for residents for hedging of foreign currency borrowings
RBI/2015-16/232 A.P. (DIR Series) Circular No. 28 November 5, 2015 To, All Authorised Dealer Category I banks Madam / Sir, Risk Management & Inter-Bank Dealings: Relaxation of facilities for residents for hedging of foreign currency borrowings Attention of Authorised Dealers Category-I (AD Category-I) banks is invited to the Foreign Exchange Management (Foreign Exchange Derivative Contracts)… Read More
Internet Banking Facility for Customers of Cooperative Banks
RBI/2015-16/229 DCBR.BPD.(PCB/RCB) Cir.No. 6 /19.51.026/2015-16 November 05, 2015 The Chief Executive Officer All Primary (Urban) Co-operative Banks / State and Central Cooperative Banks Madam/Dear Sir, Internet Banking Facility for Customers of Cooperative Banks Please refer to our circular UBD.BPD.(SCB).Cir.No.1/09.18.300/2011-12 dated September 26, 2011 on ˜Internet Banking for Customers of UCBs™ in terms of which scheduled Urban Cooperative… Read More
Liberalisation in bulk filing of SOFTEX forms
RBI/2015-16/231 A.P. (DIR Series) Circular No.27 November 05, 2015 To, All Authorised Dealer Category I Banks Madam/ Sir Software Export Filing of bulk SOFTEX-further liberalisation Attention of Authorised Dealers is invited to A.P. (DIR Series) Circular No. 80 dated February 15, 2012, A.P. (DIR Series) Circular No. 66 dated January 01, 2013and A.P. (DIR Series) Circular No. 43… Read More
Subscribe to the Daily Journal
Corporate Law Referencer
India’s Leading Compliance Software
