FEMA - Corporate Law Reporter

RRBs/StCBs/CCBs – Know Your Customer (KYC) Norms /Anti-Money Laundering (AML) Standards/ Combating of Financing of Terrorism (CFT)/Obligation of banks under Prevention of Money Laundering Act (PMLA), 2002 Recognising e-Aadhaar as an ˜Officially Valid Document™ under PML Rules

RBI/2013-14/518 RPCD.RRB.RCB.AML.BC.No. 92/07.51.018/2013-14 March 13, 2014 The Chairmen / CEOs of all Regional Rural Banks / State and Central Co-operative Banks Dear Sir, RRBs/StCBs/CCBs - Know Your Customer (KYC) Norms /Anti-Money Laundering (AML) Standards/ Combating of Financing of Terrorism (CFT)/Obligation of banks under Prevention of Money Laundering Act (PMLA), 2002 Recognising e-Aadhaar as an ˜Officially… Read More

Implementation Group on OTC Derivatives Market Reforms

In response to the financial crisis that began in 2007, the G-20 initiated a series of reforms designed to strengthen the regulation and oversight of the financial system and tasked the Financial Stability Board (FSB) with coordinating the reforms and assessing their implementation. An important aspect of these reforms is a commitment to enhance the… Read More

Export of Goods and Services: Export Data Processing and Monitoring System (EDPMS)

RBI/2013-14/507 A.P. (DIR Series) Circular No. 109 February 28, 2014 To All Category - I Authorised Dealer Banks Madam / Sir, Export of Goods and Services: Export Data Processing and Monitoring System (EDPMS) Attention of Authorised Dealers is invited to A. P. (DIR Series) Circular No. 12 dated September 9, 2000 read with A.P. (DIR… Read More

Efficient systems and Proficient banks – Keynote address delivered by Shri G Padmanabhan, Executive Director, Reserve Bank of India, at the CIOs Conference held at IDRBT on March 10-11, 2014

Shri Sambamurthy, Dr Ramasastri, Dr Gulshan Rai, CIOs of banks, faculty and staff of IDRBT, ladies and gentlemen. I would like to express my gratitude to the Director for inviting me to deliver the keynote address at the two day Conference for the Chief Information Officers (CIO) of banks. I addressed a similar forum of… Read More

Framework for Revitalising Distressed Assets in the Economy Guidelines on Joint Lenders™ Forum (JLF) and Corrective Action Plan (CAP)

RBI/2013-14/503 DBOD.BP.BC.No.97/21.04.132/2013-14 February 26, 2014 All Scheduled Commercial Banks (excluding RRBs) All-India Term-lending and Refinancing Institutions (Exim Bank, NABARD, NHB and SIDBI) Dear Sir, Framework for Revitalising Distressed Assets in the Economy Guidelines on Joint Lenders' Forum (JLF) and Corrective Action Plan (CAP) Please refer to the Framework for Revitalising Distress Assets in the Economy… Read More

Bold face of India™s economy speaks out

Bold face of India™s economy speaks out - Governor Dr. Raghuram Rajan™s interview with The Australian Financial Review published on February 24, 2013 Emerging markets Jacob Greber and Greg Earl report on governor with an impeccable pedigree Raghuram Rajan represents the bold face of India's potential new economy impeccably credentialed, upbeat and ready to force… Read More

Survey on Computer Software & Information Technology Enabled Services Exports: 2012-13

The Reserve Bank of India released, on its website, the data related to the results of Computer Software and Information Technology Enabled Services Exports: 2012-13. The Survey on Computer Software and Information Technology Enabled Services Exports collects details on export of software services as per the activity, type of services (on-site/off-site) and country of destination… Read More

FIMMDA™s Trade Reporting and Confirmation platform for OTC transactions in Corporate Bonds and Securitized Debt Instruments

RBI/2013-14/500 IDMD.PCD. 10/14.03.06/2013-14 February 24, 2014 To All RBI Regulated Entities Dear Sir/Madam FIMMDA's Trade Reporting and Confirmation platform for OTC transactions in Corporate Bonds and Securitized Debt Instruments Please refer to our circulars IDMD. 530/03.64.00/2007-08 dated July 31, 2007 and IDMD.PCD. 06/14.03.06/2013-14 dated August 26, 2013 on the captioned subject. Currently, the OTC trades… Read More

Foreign Direct Investment (FDI) into a Small Scale Industrial Undertakings (SSI) / Micro & Small Enterprises (MSE) and in Industrial Undertaking manufacturing items reserved for SSI/MSE

RBI/2013-14/498 A.P. (DIR Series) Circular No.107 February 20, 2014 To All Category I Authorised Dealer Banks Madam / Sir, Foreign Direct Investment (FDI) into a Small Scale Industrial Undertakings (SSI) / Micro & Small Enterprises (MSE) and in Industrial Undertaking manufacturing items reserved for SSI/MSE Attention of Authorised Dealer Category I (AD Category-I) banks is… Read More

RBI and select branches of Banks to accept Advance Income Tax

It is observed that the rush for remitting Income Tax dues through the Reserve Bank of India has been quite heavy towards the end of March month. It becomes difficult for the Bank to cope with the pressure of receipts although additional counters to the maximum possible extent are provided for the purpose. Consequently, the… Read More

Financial Regulation: Which Way Forward?

Financial Regulation: Which Way Forward? - Speech by Shri Deepak Mohanty, Executive Director, Reserve Bank of India at the Economic Conclave on the theme Indian Economy: Performance and Challenges, Gokhale Institute of Politics and Economics, Pune, February 15, 2014 I thank Prof. Rajas Parchure for inviting me to this Economic Conclave at the Gokhale Institute.… Read More

Know Your Customer (KYC) Norms /Anti-Money Laundering (AML) Standards/Combating of Financing of Terrorism (CFT)/Obligation of banks under Prevention of Money Laundering Act (PMLA), 2002 Amendment to Section 13(2) Primary (Urban) Cooperative Banks (UCBs)

RBI/2013-14/497 UBD.BPD (PCB) Cir.No. 48/14.01.062/2013-14 February 18, 2014 The Chief Executive Officer All Primary (Urban) Co-operative Banks. Madam / Dear Sir, Know Your Customer (KYC) Norms /Anti-Money Laundering (AML) Standards/Combating of Financing of Terrorism (CFT)/Obligation of banks under Prevention of Money Laundering Act (PMLA), 2002 Amendment to Section 13(2) Primary (Urban) Cooperative Banks (UCBs) Please… Read More

Facilities to NRIs/PIOs and Foreign Nationals Liberalisation – Reporting Requirement

RBI/2013-14/496 A.P (DIR Series) Circular No. 106 February 18, 2014 To, All Category- I Authorised Dealer Banks Madam / Sir, Facilities to NRIs/PIOs and Foreign Nationals Liberalisation - Reporting Requirement Attention of Authorised Dealer Category - I (AD Category - I) banks is invited to A.P. (DIR Series) Circular No. 12 dated November 16, 2006 in terms… Read More