FEMA - Corporate Law Reporter

RBI Committee on Comprehensive Financial Services for Small Businesses and Low-Income Households invites suggestions from stakeholders

The RBI Committee on Comprehensive Financial Services for Small Businesses and Low-Income Households invites suggestions from stakeholders in its first meeting held on September 30, 2013 decided to invite suggestions from various stakeholders with a view to enabling them to share their thoughts on the subject. Interested stakeholders who wish to make a formal submission… Read More

Government Decides in Principle to Enhance the Amount of Capital to be Infused into Public Sector Banks

Government Decides in Principle to Enhance the Amount of Capital to be Infused into Public Sector Banks; Additional Amount of Capital to be Provided to Enable Banks to Lend to Borrowers in Selected Sectors at Lower Rates to Stimulate Demand; Expected to Give a Boost to Capacity Addition, Employment and Production The Central Government has decided in… Read More

Review of Norms for Classification of Financially Sound and Well Managed UCBs

RBI/2013-14/308 UBD.CO.LS.(PCB).Cir.No.24/07.01.000/2013-14 October 1, 2013 Chief Executive Officers of all Primary (Urban) Co-operative Banks Dear Sir/ Madam, Review of norms for classification of Financially Sound and Well Managed (FSWM) Urban Co-operative Banks (UCBs) Please refer to para 1 of our circular ref: UBD.CO.LS.Cir.No.25/07.01.000/2010-11 dated November 16, 2010 wherein the eligibility criteria regarding FSWM UCBs were laid down.… Read More

India™s International Investment Position (IIP), Quarter ended June 2013

International Investment Position (IIP) is a statistical statement that shows, at a point in time, the value and the composition of (i) financial assets of residents of an economy that are claims on non-residents and gold bullion held as reserve assets; and (ii) liabilities of residents of an economy to non-residents. The difference between an economy's… Read More

Share Linking to Borrowing Norm in Urban Co-operative Banks

RBI/2013-14/307 UBD CO BPD (PCB) Cir. No. 25/09.18.200/2013-14 October 1, 2013 The Chief Executive Officer All Urban Co-operative Banks Dear Sir / Madam, Share Linking to Borrowing Norm in Urban Co-operative Banks Please refer to the instructions contained in para 3 of circular UBD PCB Cir. No.4/ 09.18.201/2008-09 dated July 15, 2008 on ˜Instruments for Augmenting Capital… Read More

Export Outstanding Statement (XOS) Online Bank wide Submission

RBI/2013-14/306 A.P. (DIR Series) Circular No.60 October 01, 2013 To All Category - I Authorized Dealer Banks Madam / Sir, Export Outstanding Statement (XOS) Online Bank wide Submission Attention of Authorized Dealer Category I (AD Category I) banks is invited to A. P. (DIR Series) Circular No. 12 dated September 9, 2000 in terms of which AD… Read More

Transformation of Development Financial Institutions into Commercial Banks: The Case of IDBI and the Role of Employee Unions

(Special address delivered by Dr. K. C. Chakrabarty, Deputy Governor, Reserve Bank of India at Kolkata on September 27, 2013) Shri Basudeb Achariya, Hon™ble MP, Lok Sabha; Comrade Rajen Nagar, President, AIBEA; Shri B.P. Kanungo, Regional Director for West Bengal and Sikkim, Reserve Bank of India; Shri Samir Ghosh, General Secretary, All Indian Reserve Bank… Read More

Unclaimed Deposits/Inoperative Accounts in UCBs – Treatment of certain Savings Bank Accounts opened for credit of Scholarship

RBI/2013-14/300 UBD.BPD.(PCB)CIR No. 23/13.01.000/2013-14 September 30, 2013 The Chief Executive Officers of All Primary (Urban) Co-operative Banks Madam/Dear Sir, Unclaimed Deposits/Inoperative Accounts in UCBs - Treatment of certain savings bank accounts opened for credit of Scholarship amounts and credit of Direct Benefit Transfer under Government Schemes Please refer to Circular No.UBD.BPD.(PCB)CIR.No.9/13.01.000/2013-14 dated September 1, 2008 on unclaimed deposits/ inoperative… Read More

External Commercial Borrowings (ECB) Policy ” Review of all-in-cost ceiling

RBI/2013-14/303 A.P. (DIR Series) Circular No. 58 September 30, 2013 To, All Authorized Dealer Category - I Banks Madam / Sir External Commercial Borrowings (ECB) Policy ” Review of all-in-cost ceiling Attention of Authorized Dealer Category-I (AD Category-I) banks is invited to A.P. (DIR Series) Circular No. 11 dated July 11, 2013 relating to the all-in-cost ceiling… Read More

External Commercial Borrowings (ECB) Policy Refinancing / Rescheduling of ECB

RBI/2013-14/304 A.P. (DIR Series) Circular No 59 September 30, 2013 To, All Authorised Dealer Category - I Banks Madam / Sir External Commercial Borrowings (ECB) Policy Refinancing / Rescheduling of ECB Attention of Authorized Dealer Category-I (AD Category-I) banks is invited to A. P. (DIR Series) Circular No. 5 dated August 01, 2005 and A.P. (DIR Series) Circular… Read More

Performance Audit of Agricultural Debt Waiver & Debt Relief Scheme, 2008 by CAG & Re-verification Exercise by Banks

RBI/2013-14/299 UBD.BPD.(PCB)CIR No. 22 /13.05.006/2013-14 September 30, 2013 The Chief Executive Officers of All Primary (Urban) Co-operative Banks Madam/Dear Sir, Performance Audit of Agricultural Debt Waiver & Debt Relief Scheme (ADWDRS), 2008 by CAG & Re-verification Exercise by the banks Please refer to our Circular UBD.BPD. (PCB) Cir. No.40/13.05.006/2012-13 dated March 7, 2013, in terms of… Read More

Trade Credits for Imports into India Review of all-in-cost ceiling

RBI/2013-14/301 A. P. (DIR Series) Circular No. 56 September 30, 2013 To, All Authorised Dealer Category - I Banks Madam / Sir Trade Credits for Imports into India Review of all-in-cost ceiling Attention of Authorized Dealer Category-I (AD Category-I) banks is invited to the A.P. (DIR Series) Circular No. 9 dated July 11, 2013 relating to all-in-cost… Read More

Due-Date for Filing Returns of Income in Cases of Income Tax Assessees in Gujarat Extended upto 14th October 2013

On consideration of reports of dislocation of general life caused due to recent heavy rains and floods in the State of Gujarat, the Central Board of Direct Taxes (CBDT) has extended the ˜due-date™ for filing Returns of Income from 30th September, 2013 to 14th October, 2013, in cases of Income Tax assessees in the State… Read More