FEMA - Corporate Law Reporter

Fund/Non-Fund based Credit Facilities to Overseas Joint Ventures / Wholly owned Subsidiaries abroad

RBI/2013-14/568 DBOD.No.BP.BC.107/21.04.048/2013-14 dated April 22, 2014 Fund/Non-Fund based Credit Facilities to Overseas Joint Ventures / Wholly Owned Subsidiaries / Wholly owned Step-down Subsidiaries of Indian Companies Please refer to our circular DBOD.IBD.BC.No.96/23.37.001/2006-07 dated May 10, 2007, in terms of which banks were permitted to extend fund/non-fund based credit facilities to overseas Joint Ventures (JV)/Wholly Owned Subsidiaries (WOS)/Wholly owned Step-down… Read More

Competitive Monetary Easing: Is it yesterday once more?

Remarks by Dr. Raghuram G. Rajan, Governor, Reserve Bank of India at the Brookings Institution Good morning. As the world seems to be struggling back to its feet after the great financial crisis, I want to draw attention to an area we need to be concerned about: the conduct of monetary policy in this integrated… Read More

RBI releases Draft Report on ˜Working Group on Pricing of Credit™

The Reserve Bank of India today placed on its website Draft Report on Working Group on Pricing of Credit. Comments/feedback on the recommendations of the draft report may be sent by May 16, 2014 by email or by post to the Principal Chief General Manager, Reserve Bank of India, Department of Banking Operations and Development,… Read More

Investment through Alternative Investment Funds Clarification on Calculation of NOF of an NBFC

RBI/2013-14/554 DNBS (PD) CC.No.373/03.10.001/2013-14 April 7, 2014 All NBFCs Dear Sirs, Investment through Alternative Investment Funds Clarification on Calculation of NOF of an NBFC In terms of section 45 IA of the RBI Act, 1934, net owned funds (NOF) of an NBFC means- (a) the aggregate of the paid-up equity capital and free reserves as… Read More

RBI Offices to function as usual on April 01, 2014

All offices of the Reserve Bank of India situated in Mumbai and Navi Mumbai will remain open for public transactions on Tuesday, April 01, 2014. Ajit Prasad Assistant General Manager Press Release: 2013-2014/1887 Read More

Transforming Credit Information into Action: Issues and Challenges

Transforming Credit Information into Action: Issues and Challenges - Keynote address by Dr. K.C. Chakrabarty, Deputy Governor, Reserve Bank of India at the Sixth Annual Credit Information Conference organized by CIBIL in Mumbai on March 20, 2014 Shri M.V.Nair, Chairman, CIBIL; Shri R.V.Verma, CMD, National Housing Bank; Shri M.V.Tanksale, Chief Executive, Indian Banks' Association; Shri… Read More

Early Recognition of Financial Distress, Prompt Steps for Resolution and Fair Recovery for Lenders: Framework for Revitalising Distressed Assets in the Economy

RBI/2013-14/528 DNBS (PD) CC.No.371/03.05.02/2013-14 March 21, 2014 All NBFCs Dear Sirs, Early Recognition of Financial Distress, Prompt Steps for Resolution and Fair Recovery for Lenders: Framework for Revitalising Distressed Assets in the Economy Please refer to the Framework for Revitalising Distressed Assets in the Economy (Framework) issued by the Reserve Bank on January 30, 2014.… Read More

RBI to release Macroeconomic and Monetary Developments 2014-15 on April 1, 2014 at 11.00 a.m.

The Reserve Bank of India will release its ˜Macroeconomic and Monetary Developments 2014-15 (An Update)' on Tuesday, April 1, 2014 at 11.00 a.m. along with its First Bi-monthly Monetary Policy Statement 2014-15. Alpana Killawala Principal Chief General Manager Press Release: 2013-2014/1866 Read More

RBI Seeks Feedback on Concept Paper on Trade Receivables and Credit Exchange for Financing MSMEs

The Reserve Bank of India has today sought feedback on the Concept Paper on Trade Receivables and Credit Exchange for Financing Micro, Small and Medium Enterprises (MSMEs). Comments may be emailed or sent by post to the Chief General Manager, Department of Payment and Settlement Systems, Reserve Bank of India, Central Office, 14th Floor, Shahid… Read More

A Study of Corporate Bond Market in India: Theoretical and Policy Implications

The Reserve Bank of India released on its website the DRG Study titled, A Study of Corporate Bond Market in India: Theoretical and Policy Implications. The study is co-authored by Prof. Sunder Raghavan, Professor of Finance, Embry-Riddle Aeronautical University; and Shri Ashok Sahoo, Director, Financial Stability Unit; Shri Angshuman Hait Assistant Adviser, Department of Statistics… Read More

RBI signs Letter on Cooperation in the area of Banking Supervision with Financial Services Agency, Japan (FSA)

The Reserve Bank of India has signed and exchanged Letter on Co-operation in the area of Banking Supervision with Financial Services Agency, Japan. The Reserve Bank has been signing the Memorandum of Understanding (MoU) with supervisors of other countries to promote greater co-operation and sharing of supervisory information between the two supervisors. Till date, RBI… Read More

India™s International Trade in Services for the Month of January 2014

The Reserve Bank releases provisional aggregate monthly data on India's international trade in services with a lag of around 45 days. Accordingly, the data for the month of December 2013 were released on February 14, 2014. The value of exports and imports of services during the month of January 2014 are given in the following… Read More

Government to seek approval of Election Commission to launch FDI in online retail

THE government has decided to allow Foreign Direct Investment (FDI) in online retail. It will seek the approval of the Election Commission to ensure that the government will not be violating the model code of conduct as the process had been initiated much before the election dates were announced. It is likely that foreign companies… Read More