FEMA - Corporate Law Reporter

Buyback / prepayment of Foreign Currency Convertible Bonds (FCCBs)

RBI/2012-13/544 A.P. (DIR Series) Circular No. 115 June 25, 2013 To, All Authorized Dealer Category - I Banks Madam / Sir Buyback / prepayment of Foreign Currency Convertible Bonds (FCCBs) Attention of Authorized Dealer Category-I (AD Category-I) banks is invited to A.P. (DIR Series) Circular No. 39 dated December 08, 2008, A.P. (DIR Series) Circular No. 75… Read More

External Commercial Borrowings (ECB) Policy for 3G spectrum allocation

RBI/2012-13/543 A.P. (DIR Series) Circular No. 114 June 25, 2013 To, All Authorized Dealer Category - I Banks Madam / Sir External Commercial Borrowings (ECB) Policy for 3G spectrum allocation Attention of Authorized Dealer Category-I (AD Category-I) banks is invited to A.P. (DIR Series) Circular No. 28 dated January 25, 2010 relating to External Commercial Borrowings (ECB)… Read More

Acknowledgement by RRBs at the time of submission of Form 15-G / 15-H

RBI/2012-13/542 RPCD.CO.RRB.BC.No. 78/03.05.33/2012-13 June 24, 2013 All Regional Rural Banks Dear Sir/Madam, Acknowledgement by RRBs at the time of submission of Form 15-G / 15-H As you are aware RRBs are not required to deduct TDS from depositors who submit declaration in Form 15-G/15-H under Income Tax Rules, 1962. However, it has been brought to… Read More

RRBs – Lending against Gold

RBI/2012-13/541 RPCD. RRB. BC. No. 79/03.05.33/2012-13 June 25, 2013 All Regional Rural Banks Dear Sir/Madam Lending against Gold Please refer to paragraph 98 of the Monetary Policy Statement 2013-14 announced on May 3, 2013 on lending against gold, proposing to restrict the facility of advances against the security of gold coins per customer to gold coins weighing… Read More

RBI Notification on External Commercial Borrowings (ECB) for the low cost affordable housing projects

RBI/2012-13/539 A.P. (DIR Series) Circular No. 113 June 24, 2013 To All Authorised Dealer Category I Banks Madam / Sir External Commercial Borrowings (ECB) for the low cost affordable housing projects Attention of Authorized Dealer Category - I (AD Category - I) banks is invited to A.P. (DIR Series) Circular No. 61 dated December 17, 2012 on… Read More

RBI Notification on Security and Risk Mitigation Measures for Card Present and Electronic Payment Transactions

RBI/2012-13/540 DPSS (CO) PD No.2377/02.14.003/2012-13 June 24, 2013 The Chairman and Managing Director / Chief Executive Officers All Scheduled Commercial Banks including RRBs / Urban Co-operative Banks / State Co-operative Banks / District Central Co-operative Banks/ Authorised Card Payment Networks Madam / Dear Sir, Security and Risk Mitigation Measures for Card Present and Electronic Payment… Read More

Auction for Sale (Re-Issue) of 1.44% Inflation Indexed Government Stock 2023

Government of India have announced the sale (re-issue) of 1.44% Inflation Indexed Government Stock-2023 for a notified amount of Rs. 1,000 crore (nominal) through price based auction. The auction will be conducted using uniform price method. The auction will be conducted by the Reserve Bank of India, Mumbai Office, Fort, Mumbai on June 25, 2013 (Tuesday). Up to 20% of the… Read More

Licensing of new banks in the private sector – Last date for receipt of applications

The Reserve Bank of India released the Guidelines for Licensing of New Banks in the Private Sector on its website on February 22, 2013. As indicated in the above Press Release, applications for setting up new banks in the private sector should reach the Chief General Manager-in-Charge, Department of Banking Operations and Development, Reserve Bank of India,… Read More

Housing Sector: New sub-sector CRE (Residential Housing) within CRE and Rationalisation of provisioning, risk-weight and LTV ratios

RBI/2012-13/538 DBOD.BP.BC.No. 104/08.12.015/2012-13 June 21, 2013 All Scheduled Commercial Banks (excluding RRBs) Dear Sir, Housing Sector: New sub-sector CRE (Residential Housing) within CRE & Rationalisation of provisioning, risk-weight and LTV ratios Please refer to paragraph 82 of the Monetary Policy Statement 2013-14 (extract enclosed) on ˜Commercial Real Estate - Residential Housing: Prudential Norms™, announced on… Read More

Chapter VII of the Finance Act 2013 to come into effect on 1st July 2013

GOVERNMENT OF INDIA MINISTRY OF FINANCE (DEPARTMENT OF REVENUE) NOTIFICATION 45/2013 New Delhi, the 19 June, 2013 S.O. 1768 (E).- In exercise of the powers conferred by sub-section (2) of section 115 of theFinance Act, 2013 (17 of 2013), the Central Government hereby appoints the 1st day of July, 2013 as the date on which Chapter VII of the said Act shall come… Read More

Deferred Payment Protocols dated April 30, 1981 and December 23, 1985 between Government of India and erstwhile USSR

RBI/2012-13/537 A.P. (DIR Series) Circular No. 112 June 20, 2013 To All Category - I Authorised Dealer Banks Madam / Sir, Deferred Payment Protocols dated April 30, 1981 and December 23, 1985 between Government of India and erstwhile USSR Attention of Authorised Dealer Category-I (AD Category-I) banks is invited to A.P. (DIR Series) Circular No.95 dated… Read More

Risk Weights on deposits placed with NABARD/SIDBI/NHB in lieu of shortfall in achievement of priority sector lending targets/sub-targets

RBI/2012-13/536 DBOD.BP.BC. No.103/21.06.001/2012-13 June 20, 2013 The Chairman and Managing Director/ Chief Executive Officer of All Commercial Banks (excluding LABs and RRBs) Dear Sir Risk Weights on deposits placed with NABARD/SIDBI/NHB in lieu of shortfall in achievement of priority sector lending targets/sub-targets It has been observed that there is a lack of uniformity among banks… Read More

Achieving Professional Excellence

Address given by Shri P. Vijaya Bhaskar, Executive Director, Reserve Bank of India at the Silver Jubilee Function of Institute of Chartered Secretaries of India (ICSI) at Mumbai on June 15, 2013 I. Introduction At the outset, I thank the organisers of the Silver Jubilee Function of Institute of Chartered Secretaries of India (ICSI) for… Read More