FEMA - Corporate Law Reporter

RBI Clarificaiton on Prudential Norms for Off-balance Sheet Exposures of Banks Deferment of Option Premium

RBI/2012-13/535 DBOD.No.BP.BC.102/21.04.157/2012-13 June 18, 2013 The Chairman and Managing Directors/ Chief Executive Officers of All Scheduled Commercial Banks (excluding RRBs and LABs) & All India Term-Lending & Refinancing Institutions Madam / Sir, Prudential Norms for Off-balance Sheet Exposures of Banks Deferment of Option Premium Banks are permitted to defer, at their discretion, the premium on… Read More

Impact of Euro Area Crisis on South Asia

(Paper presented by Shri Deepak Mohanty, Executive Director, Reserve Bank of India at the SAARC FINANCE Group Meeting on 18th June, 2013 at Islamabad, Pakistan) The global financial crisis originated in the US and then spread to Europe. While the global growth has recovered from the trough of 2009, Europe has lapsed into recession again.… Read More

RBI announces Scholarship Scheme for Central Bankers/Finance Ministry Officials of SAARC Countries

Governor Dr. D. Subbarao, today announced the Reserve Bank of India scholarship scheme for higher studies in Economics for officials of central banks/ministries of finance of South Asian Association for Regional Cooperation (SAARC) member countries. He announced the scholarship scheme in the 26th SAARCFINANCE Group Meeting being held today in Islamabad. Members of SAARC are: Afghanistan,… Read More

Auction for Sale (Re-Issue) of Government Stock

Government of India have announced the Sale (re-issue) of (i) 7.28 per cent Government Stock 2019 for a notified amount of Rs. 3,000 crore (nominal) through price based auction, (ii) 7.16 per cent Government Stock 2023 for a notified amount of Rs. 6,000 crore (nominal) through price based auction , (iii) 8.97 percent Government Stock 2030 for a notified amount of Rs. 3,000 crore (nominal) through price based auction and (iv) 8.83… Read More

Review of Prudential Guidelines on Restructuring of Advances by Financial Institutions (FIs)

RBI/2012-13/534 DBOD.FID.FIC.No.5/01.02.00 /2012-13 June 17, 2013 The CEOs of All-India Term-Lending and Refinancing Institutions (Exim Bank, NABARD, NHB and SIDBI) Dear Sir, Review of Prudential Guidelines on Restructuring of Advances by Financial Institutions (FIs) In continuation of our letter DBOD.FID.FIC.No.6/01.02.00/2010-11 dated October 14, 2010 on the captioned subject, please find enclosed circular DBOD.BP.BC.No.99/ 21.04.132/2012-13 dated May 30, 2013 and… Read More

RBI Publishes Mid-Quarter Monetary Policy Review: June 2013

Monetary and Liquidity Measures On the basis of an assessment of the current macroeconomic situation, it has been decided to: keep the cash reserve ratio (CRR) of scheduled banks unchanged at 4.0 per cent of their net demand and time liabilities; and keep the policy repo rate under the liquidity adjustment facility (LAF) unchanged at… Read More

Format for seeking clarifications on the FDI policy issues

(Bharat Sarkar) Ministry of Commerce & Industry (Vanijya our Udyog Mantralay) Department of Industrial Policy & Promotion (Audyogik Neeti Aur Samvardhan Vibhag) Dated the May10, 2013 NOTICE Subject: Format for seeking clarifications on the FDI policy issues This Department has been receiving a large number of requests from various stakeholders seeking clarifications on the provisions of FDI policy. It is noted that many of the requests for clarification do… Read More

RBI™s Project Research Study on Indo-China Policies

Restructuring of India™s Domestic and External Policies needed for Effective Partnership between India and China: RBI™s Project Research Study The Reserve Bank India today released a Project Research Study titled India China Bilateral Trade Relationship on its website. This Project Research Study was entrusted to Prof. S. K Mohanty, Research and Information System for Developing Countries… Read More

Exchange Rate of Foreign Currency Relating to Imported and Export Goods Notified

In excise of the powers conferred by section 14 of the Customs Act, 1962 (52 of 1962), the Central Board of Excise & Customs (CBEC) hereby makes the following further amendments in the Notification of the Government of India, Ministry of Finance (Department of Revenue ) No. 59/2013-CUSTOMS (N.T.) dated the 6th June, 2013 published in the… Read More

NBFCs – RBI™s Fraud Monitoring Cell to function from Bengaluru from July 01, 2013

RBI/2012-13/532 DNBS (PD) CC.No.329 /03.10.42/2012-13 June 13, 2013 All NBFCs Dear Sir/Madam, RBI™s Fraud Monitoring Cell to function from Bengaluru from July 01, 2013 Attention is invited to para 3 of Master Circular DNBS.(PD)CC.No.283/03.10.042/2012-13 dated July 2, 2012 on Reporting of Frauds to RBI. 2. The Reserve Bank of India™s Fraud Monitoring Cell attached to Department of… Read More

UCBs – Fraud Monitoring Cell of Reserve Bank of India, to function from Bengaluru from July 1, 2013

RBI/2012-13/531 UBD.CO.BPD. (PCB). Cir. No. 55/12.05.001/2012-13 June 13, 2013 Chief Executive Officers All Primary Urban Co-operative Banks Madam/Dear Sir Fraud Monitoring Cell of Reserve Bank of India, to function from Bengaluru from July 1, 2013 Please refer to the Press Release No. 2012-2013/2045 dated June 5, 2013 hosted on the RBI website. 2. It would be observed… Read More

Foreign investment in India by SEBI registered Long term investors in Government dated Securities

RBI/2012-13/530 A.P. (DIR Series) Circular No.111 June 12 , 2013 To All Category I Authorised Dealer Banks Madam / Sir, Foreign investment in India by SEBI registered Long term investors in Government dated Securities Attention of Authorized Dealer Category-I (AD Category-I) banks is invited to Schedule 5 to the Foreign Exchange Management (Transfer or Issue… Read More

Foreign Direct Investment Reporting of issue / transfer of Shares to/by a FVCI

RBI/2012-13/529 A.P. (DIR Series) Circular No.110 June 12, 2013 To All Category - I Authorised Dealer banks Madam / Sir, Foreign Direct Investment Reporting of issue / transfer of Shares to/by a FVCI Attention of Authorised Dealers Category-I (AD Category - I) banks is invited to Regulations 9 and 10 and para 9 of Schedule… Read More