RBI releases Report of the Committee on Financial Benchmarks
The Reserve Bank of India has, today, placed on its website, the Report of the Committee on Financial Benchmarks. It may be recalled that the Reserve Bank had announced the constitution of the Committee on Financial Benchmarks (Chairman: Shri P. Vijaya Bhaskar, Executive Director) on June 28, 2013 with a mandate to study various issues… Read More
RBI releases Report of the Technical Committee on Mobile Banking
The Reserve Bank of India has today released, on its website for public comments, the "Report of the Technical Committee on Mobile Banking". The comments may be emailed sent by post to the Chief General Manager, Department of Payment and Settlement Systems, Reserve Bank of India, Central Office, 14th Floor, Shahid Bhagat Singh Marg, Mumbai-400001… Read More
Roles and Responsibilities Of Directors Under Companies Act 2013
Who is a Director? An appointed or elected member of the board of directors of a company. He has the responsibility for determining and implementing the company™s policy. A company director need not to be a shareholder or an employee, and may hold only the office of director under the provisions of the Act. Directors… Read More
Sexual Harassment Act – Reported incidents’ data
The National Crime Records Bureau (NCRB) does not maintain data exclusively on sexual harassment at workplaces. However, the State/UT wise data of complaints registered with National Commission for Women (NCW) for sexual harassment of women at work places during the last three years and the current year is as given below. State 2010 2011 2012 2013 (as… Read More
Foreign Exchange Management Act – Emerging Issues and Recent Developments – VCCircle
Foreign Exchange Management Act - Emerging Issues and Recent Developments India is one of the largest FDI destinations in the world with the relaxation of foreign exchange restrictions, there has been a significant flow of investments into India. At the same time, Indian businesses have been making investments and acquisitions overseas. With the inbound and… Read More
Incentives to Industries to Boost The Economic Growth
The Ministry has taken a number of measures to boost the industrial growth of the country. These, inter-alia, include announcement of National Manufacturing Policy (NMP), 2011, simplification and rationalization of the Foreign Direct Investment (FDI) Policy, implementation of Delhi Mumbai Industrial Corridor (DMIC) project, conceptualisation of Amritsar Kolkata Industrial Corridor (AKIC), launching of the e-biz… Read More
Foreign Investment Proposals cleared by FIPB
The Foreign Investment Promotion Board (FIPB) has approved about 76 proposals since the inception of the Foreign Direct Investment (FDI) policy on the retail sector, from February, 2006 and upto December, 2013. The major sectors, other than retail, in which the Foreign Investment Promotion Board (FIPB) has granted approvals so far are defence, broadcasting, print… Read More
No Service Tax Required to be Paid on Services Provided by Authorised Person to Member of Commodity Exchange
In exercise of the powers conferred by section 11C of the Central Excise Act, 1944 (1 of 1944), read with section 83 of the Finance Act, the Central Government hereby directs that the service tax payable on the services provided by an authorised person or sub-broker to the member of a recognised association or a… Read More
Board™s Report Enhanced Role Under The New Companies Act 2013
Introduction Section 134 of the Companies Act, 2013 casts a responsibility on the Board of Directors to prepare a report containing details as discussed below and this report needs to be annexed to the Financial Statements which are laid before the members in the annual general meeting. Companies Act, 2013 also contains provisions regarding revision… Read More
Deregulation of Interest Rates on Non-Resident (External) Rupee (NRE) Deposits
RBI/2013-14/476DBOD.No.Dir.BC.90/13.03.00/2013-14January 31, 2014All Scheduled Commercial Banks(Excluding RRBs)Dear Sir/ MadamDeregulation of Interest Rates on Non-Resident (External) Rupee (NRE) DepositsPlease refer to our circular DBOD.Dir.BC.71/13.03.00/2013-14 dated November 29, 2013 advising banks that the freedom to offer interest rates on incremental NRE deposits with maturity of 3 years and above without any ceiling in order to pass on the benefit… Read More
Indian Banking: the New Landscape
- Keynote address by Dr. K.C. Chakrabarty, Deputy Governor, Reserve Bank of India, at the Mint™s Annual Banking Conference, 2014 in Mumbai on January 31, 2014 Sukumar and Tamal, thank you very much, for this invite. I am happy to note that you and your paper- the Mint, have been focussing on the process of change… Read More
Why is Recent Food Inflation in India so Persistent?
- Speech delivered by Shri Deepak Mohanty, Executive Director, Reserve Bank of India, at the St. Xavier™s College, Mumbai on 13th January 2014 It is an honour for me to deliver this year's Annual Lalit Doshi Memorial Lecture. I thank Principal Dr. Fr. Frazer Mascarenhas, Dr. Aditi Sawant and Ms. Nikita Kohli for this opportunity.… Read More
RBI releases Framework for Revitalising Distressed Assets in the Economy
The Reserve Bank of India today released on its website the Framework for Revitalising Distressed Assets in the Economy. The Framework outlines a corrective action plan that will incentivise early identification of problem cases, timely restructuring of accounts which are considered to be viable, and taking prompt steps by banks for recovery or sale of… Read More
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