FEMA - Corporate Law Reporter

RBI’s Special Repo Window for Liquidity Requirements of Mutual Funds

As a contingency measure, the Reserve Bank of India (RBI) has decided to conduct a special 3-day repo at an interest rate of 10.25 per cent for a notified amount of Rs. 25,000 crore with a view to enabling banks to meet the liquidity requirements of mutual funds. Details of the facility are being announced… Read More

Liquidity Adjustment Facility

RBI/2013-14/142 FMD.MOAG. No. 80/01.01.001/2013-14 July 16, 2013 All Scheduled Commercial Banks (excluding RRBs) and Standalone Primary Dealers Dear Sir, Liquidity Adjustment Facility As you are aware, Reserve Bank of India announced various measures yesterday to address the exchange rate volatility. As a part of the measures, it has been decided that the overall allocation of… Read More

Standardization and Enhancement of Security Features in Cheque Forms/Migrating to CTS 2010 standards

RBI/2013-14/141 DPSS.CO.CHD.No./133 / 04.07.05 / 2013-14 July 16, 2013 The Chairman and Managing Director / Chief Executive Officer All Scheduled Commercial Banks including RRBs / Urban Co-operative Banks / State Co-operative Banks / District Central Co-operative Banks/Local Area Banks Madam / Dear Sir Standardization and Enhancement of Security Features in Cheque Forms/Migrating to CTS 2010… Read More

Marginal Standing Facility Rates

RBI/2013-2014/140 FMD.MOAG. No.79 /01.01.001/2013-14 July 16, 2013 All Scheduled Commercial Banks (excluding RRBs) and Primary Dealers Dear Sir, Marginal Standing Facility Rates As you are aware, Reserve Bank of India announced various measures yesterday to address the exchange rate volatility. As a part of the measures, it has been decided to recalibrate the Marginal Standing… Read More

Revision in Bank Rate

RBI/2013-14/139 UBD BPD (PCB) Cir. No.1/16.11.00/2013-14 July 15, 2013 The Chief Executive Officer All Primary (Urban) Co-operative Banks Madam / Dear Sir, Revision in Bank Rate Please refer to our circular UBD BPD (PCB) Cir. No.48-16.11.00-2012-13 dated May 03, 2013 on the captioned subject. As announced in the Press Release 2013-2014/100 dated July 15, 2013, the Bank Rate… Read More

RBI Circular on changes in Bank Rate

RBI/2013-14/138 Ref : DBOD.No.Ret.BC. 31/12.01.001/2013-14 July 15, 2013 All Scheduled Commercial Banks & Local Area Banks Dear Sir, Bank Rate As announced in the Press Release 2013-2014/100 dated July 15, 2013, the Bank Rate stands adjusted by 200 basis points from 8.25 per cent to 10.25 per cent with effect from July 15, 2013. 2. All… Read More

Performance of the Private Corporate Business Sector during Fourth Quarter of 2012-13 – Data Release

The Reserve Bank of India today released, on its website, the data on the performance of non-financial private corporate business sector during fourth quarter of 2012-13 (January-March 2013). The data compiled are based on the abridged financial results of 2,686 listed non-government non-financial (NGNF) companies. To enable comparison, similar data pertaining to Q3:2012-13 and Q4:2011-12 are also presented.… Read More

Compliance Function in Banks: Back to the basics

(Inaugural address by Dr. K. C. Chakrabarty, Deputy Governor, Reserve Bank of India at the launch of certificate programmes on Compliance Function and Training on July 12, 2013 in Mumbai) Mr. S.N. Ananthasubramanian, President, Institute of Company Secretaries of India (ICSI);Mr. Allen Pereira, Director, National Institute of Bank Management (NIBM); Dr. R. Bhaskaran, Chief Executive… Read More

External Commercial Borrowings (ECB) Policy Repayment of Rupee loans and/or fresh Rupee capital expenditure USD 10 billion Scheme

RBI/2013-14/137 A.P. (DIR Series) Circular No.12 July 15, 2013 To All Category - I Authorised Dealer Banks Madam / Sir, External Commercial Borrowings (ECB) Policy Repayment of Rupee loans and/or fresh Rupee capital expenditure USD 10 billion Scheme Attention of Authorized Dealer Category - I (AD Category - I) banks is invited to A.P. (DIR Series)… Read More

Unsolicited Commercial Communications National Customer Preference Register (NCPR)

RBI/2013-14/136 DBOD.No.FSD.BC.30/24.01.001/2013-14 July 15, 2013 All Scheduled Commercial Banks (excluding RRBs) Dear Sir/ Madam, Unsolicited Commercial Communications National Customer Preference Register (NCPR) Please refer to our circular Nos. DBOD.FSD.BC.49-24.01.011-2005-06 dated November 21, 2005, DBOD.FSD.BC.19-24.01.011-2007-08 dated July 3, 2007, DBOD.FSD.BC.35-24.01.0112007-08 dated October 19, 2007 and DBOD.No.FSD. BC.45-24.01.011-2008-09 dated September 17, 2008 on the above subject in terms of which banks were advised… Read More

RBI announces Measures to address Exchange Rate Volatility

The market perception of likely tapering of US Quantitative Easing has triggered outflows of portfolio investment, particularly from the debt segment. Consequently, the Rupee has depreciated markedly in the last six weeks. Countries with large current account deficits, such as India, have been particularly affected despite their relatively promising economic fundamentals. The exchange rate pressure… Read More

RBI penalises 22 Banks

The Reserve Bank of India has imposed monetary penalty on the following 22 banks for violation of its instructions, among other things, on Know Your Customer/Anti Money Laundering. The details are: Monetary Penalty Sl. No. Name of the bank Penalty Amount (in ` crore) 1 Andhra Bank 2.50 2 Bank of Baroda 3.00 3 Bank of India… Read More

Conference of Principal Code Compliance Officers

Conference of Principal Code Compliance Officers (PCCOs) / Chairmen of Regional Rural Banks organised by BCSBI at Mumbai, on July 15, 2013 (Inaugural Address by Dr. (Smt.) Deepali Pant Joshi, Executive Director, Reserve Bank of India) It is a privilege to be here this morning and I would like to thank Shri A.C. Mahajan, Chairman, BCSBI,… Read More