RBI - Corporate Law Reporter

ECB Policy – Rationalisation and Liberalisation: RBI

RBI/2017-18/169 A.P. (DIR Series) Circular No.25 April 27, 2018 To All Category-I Authorised Dealer Banks Madam / Sir, External Commercial Borrowings (ECB) Policy – Rationalisation and Liberalisation Attention of Authorized Dealer Category-I (AD Category-I) banks is invited to Master Direction No.5 dated January 1, 2016 on External Commercial Borrowings, Trade Credit, Borrowing and Lending in Foreign Currency… Read More

RBI updates Know Your Customer (KYC) Direction, 2016

RBI/DBR/2015-16/18 Master Direction DBR.AML.BC.No.81/14.01.001/2015-16 February 25, 2016 (Updated as on April 20, 2018) Master Direction - Know Your Customer (KYC) Direction, 2016 In terms of the provisions of Prevention of Money-Laundering Act, 2002 and the Prevention of Money-Laundering (Maintenance of Records) Rules, 2005, Regulated Entities (REs) are required to follow certain customer identification procedures while… Read More

RBI releases the results of forward looking Surveys

he Reserve Bank of India today released on its website the results of the following Surveys: Consumer Confidence Survey (CCS) – March 2018 Inflation Expectations Survey of Households (IESH) – March 2018 Survey of Professional Forecasters on Macroeconomic Indicators–Round 51 Quarterly Order Books, Inventories and Capacity Utilisation Survey (OBICUS) – Round 40 (Q3:2017-18) Industrial Outlook… Read More

First Bi-monthly Monetary Policy Statement, 2018-19 Resolution of the Monetary Policy Committee (MPC) :RBI

On the basis of an assessment of the current and evolving macroeconomic situation1 at its meeting today, the Monetary Policy Committee (MPC) decided to: keep the policy repo rate under the liquidity adjustment facility (LAF) unchanged at 6.0 per cent. Consequently, the reverse repo rate under the LAF remains at 5.75 per cent, and the marginal… Read More

Statement on Developmental and Regulatory Policies: RBI

This Statement sets out various developmental and regulatory policy measures for strengthening regulation and supervision; broadening and deepening financial markets; improving currency management; promoting financial inclusion and literacy; and, facilitating data management. I Regulation and Supervision Mandatory Loan Component in Working Capital Finance With a view to promoting greater credit discipline among working capital borrowers,… Read More

Special Clearing operations on March 31, 2018

RBI/2017-18/145 DPSS.CO.CHD.No./2707/03.01.03/2017-18 March 28, 2018 The Chairman and Managing Director / Chief Executive Officer All Scheduled Commercial Banks including Regional Rural Banks/ Urban Co-operative Banks / State Co-operative Banks / District Central Co-operative Banks/Local Area Banks Madam / Dear Sir, Special Clearing operations on March 31, 2018 A reference is invited to the circular issued… Read More

Reporting and Accounting of Central Government Transactions of March 2018:RBI

RBI/2017-18/142 DGBA.GBD.No.2324/42.01.029/2017-18 March 19, 2018 All Agency Banks Dear Sir / Madam, Reporting and Accounting of Central Government Transactions of March 2018 Please refer to Circular DGBA.GAD.No. 2376/42.01.029/2016-17 dated March 16, 2017 advising the procedure to be followed for reporting and accounting of Central Government transactions (including CBDT, CBEC, departmentalised ministries and non-Civil Ministries) at the Receiving/Nodal/Focal… Read More

Agency commission payable to banks for operating Special Deposit Scheme :RBI

RBI/2017-18/140 DGBA.GBD.2294/15.01.001/2017-18 March 15, 2018 All Agency Banks handling Special Deposit Scheme Dear Sir, Agency commission payable to banks for operating Special Deposit Scheme (SDS) Please refer to para 2 of our Master Circular RBI/2017-18/2 dated July 1, 2017 on Conduct of Government Business by Agency Banks- Payment of Agency Commission where in it is mentioned that… Read More

RBI notification on submission of returns by the government-owned NBFC

RBI/2017-18/141 DNBS.PD.CC.No.1925/66.08.001/2017-18 March 15, 2018 To All Government-Owned Non-Banking Financial Companies (NBFCs) Madam/ Sir, Submission of returns by the Government-owned Non-Banking Financial Companies In exercise of the powers conferred by sections 45JA, 45K and 45L of the Reserve Bank of India Act, 1934 (hereinafter referred to as the RBI Act), it has been decided to… Read More

RBI discontinues issue of LoUs /LoCs for Trade Credits

RBI/2017-18/139 A.P. (DIR Series) Circular No. 20 March 13, 2018 All Authorised Dealer Category – I Banks Madam/ Sir Discontinuance of Letters of Undertaking (LoUs) and Letters of Comfort (LoCs) for Trade Credits Attention of Authorised Dealer Category - I (AD Category - I) banks is invited to paragraph 2 of A.P. (DIR Series) Circular No.… Read More

RBI issues directions on Hedging of Commodity Price Risk and Freight Risk in Overseas Markets

RBI/2017-18/138 A.P. (DIR Series) Circular No. 19 March 12, 2018 To All Category - I Authorised Dealer Banks Madam / Sir, Hedging of Commodity Price Risk and Freight Risk in Overseas Markets (Reserve Bank) Directions Attention of Authorised Dealer Category - I (AD Category-I) banks is invited to regulation 6 and 6A of the Foreign… Read More

Implemetation of Basel III capital regulations :RBI

Ministry of Finance Reserve Bank of India (RBI) has informed that the Basel III capital regulations has been implemented from April 1, 2013 in India in phases, for full implementation by March 31, 2019. Norms/guidelines regarding the capital required to be maintained by banks in India including the Basel III capital regulations, are issued by… Read More

RBI revises guidelines on Priority Sector Lending

RBI/2017-18/135 FIDD.CO.Plan.BC.18/04.09.01/2017-18 March 01, 2018 The Chairman/ Managing Director & CEOs All Scheduled Commercial Banks Dear Sir/ Madam, Priority Sector Lending – Targets and Classification Please refer to the revised priority sector guidelines issued to banks vide FIDD.CO.Plan.BC.54/04.09.01/2014-15 circular dated April 23, 2015. It was stipulated therein under Para (II) (i) that the sub-targets for lending… Read More