Non-Banking Finance Companies: Game Changers
Speech delivered by Shri P Vijaya Bhaskar, Executive Director, Reserve Bank of India at ASSOCHAM in Delhi on January 23, 2014 Introduction The Indian financial sector consists of a wide variety of institutions which cater to different market segments. At the apex level are scheduled commercial banks which follow universal banking model. Next, there is… Read More
Prepaid Payment Instruments issued by Non-Banking Institutions
RBI/2013-14/461 DNBS(PD).CC. No 368 /03.10.01 /2013-14 January 24 , 2014 All Non Banking Financial Companies Dear Sirs, Prepaid Payment Instruments issued by Non-Banking Institutions Nonbanking institutions (NBIs) are allowed to issue prepaid payment instruments (PPIs) and collect money in this behalf from the customers, subject to authorisation under the Payment and Settlement Systems Act (PSS… Read More
Conversion of debt into shares, consent level of security enforcement actions and permission to acquire debt from other SC/RCs
RBI/2013-2014/460 DNBS (PD) CC. No. 35/SCRC/26.03.001/2013-2014 January 23, 2014 The Chairman/Managing Director/Chief Executive Officer All registered Securitisation Companies/Reconstruction Companies Dear Sir, Conversion of debt into shares, consent level of security enforcement actions and permission to acquire debt from other SC/RCs Please refer to The Securitisation Companies and Reconstruction Companies (Reserve Bank) Guidelines and Directions, 2003… Read More
Sectoral Deployment of Bank Credit December 2013
Data for the month of December 2013 on sectoral deployment of credit collected from select 47 scheduled commercial banks accounting for about 95 per cent of the total non-food credit deployed by all scheduled commercial banks are set out in Statements I and II. These data are also available in the Real-Time Handbook of Statistics… Read More
Monitoring of Foreign Investment by NRIs/PIOs under PIS in Indian Companies
The Reserve Bank of India has today notified that the aggregate net purchases of equity shares in M/s Kama Holdings Limited by Non-Resident Indians (NRIs)/Persons of Indian Origin (PIOs) in the primary/secondary markets under Portfolio Investment Scheme (PIS) have reached the trigger limit. Accordingly, no further purchases of this company would be allowed through stock… Read More
RBI Reviews Guidelines on Restructuring of Advances by NBFCs
RBI/2013-14/459 DNBS.CO. PD. No. 367/03.10.01/2013-14 January 23, 2014 All NBFCs excluding Primary Dealers Dear Sirs, Review of Guidelines on Restructuring of Advances by NBFCs As indicated in paragraph 42 of the Second Quarter Review of Monetary Policy 2013-14 announced on October 29, 2013, the extant instructions on restructuring of advances by NBFCs have been reviewed… Read More
RBI releases ‘Quarterly Statistics on Deposits and Credit of Scheduled Commercial Banks: September 2013’
The Reserve Bank of India today released on its website ˜Quarterly Statistics on Deposits and Credit of Scheduled Commercial Banks, September 2013'. The publication contains data on spatial distribution of aggregate deposits and gross bank credit of scheduled commercial banks including regional rural banks (RRBs) based on Basic Statistical Return (BSR)-7 as on last Friday… Read More
Collection of Account Payee Cheques – Prohibition on Crediting Proceeds to Third Party Account
RBI/2013-14/458 DBOD.BP.BC.No. 87/21.01.001/2013-14 January 22, 2014 The Chairmen / Chief Executives of All Scheduled Commercial Banks (excluding RRBs) Collection of Account Payee Cheques - Prohibition on Crediting Proceeds to Third Party Account Please refer to our circular DBOD.BP.BC.No.50/21.01.001/2011-12 dated November 4, 2011 advising banks that they are prohibited from crediting 'account payee' cheques to the account of… Read More
Banknotes issued prior to 2005 to be withdrawn: RBI Advisory
The Reserve Bank of India has today advised that after March 31, 2014, it will completely withdraw from circulation all banknotes issued prior to 2005. From April 1, 2014, the public will be required to approach banks for exchanging these notes. Banks will provide exchange facility for these notes until further communication. The Reserve Bank… Read More
RBI Advises Banks regarding NEFT Customer Service and Charges, Adherence to Procedural Guidelines and Circulars
RBI/2013-14/457 DPSS.CO.EPPD No.1583/04.03.01/2013-14 January 21, 2014 The Chairman and Managing Director / Chief Executive Officer of member banks participating in NEFT Madam / Dear Sir, NEFT Customer Service and Charges Adherence to Procedural Guidelines and Circulars The National Electronic Fund Transfer (NEFT) System, operational since November 2005 has seen an exponential growth in terms of volumes… Read More
Buy back of Shares – Need of Listed and Unlisted Companies
Buy back of Shares: Need of Listed and Unlisted Companies Ishwar Ahuja & Isha Gandhi* Outline When Companies with outstanding businesses and comfortable financial positions find their shares selling far below the intrinsic value in the marketplace, no alternative action can benefit shareholders as surely repurchases. - Warren Buffett The term Buy back has two… Read More
State Finances: A Study of Budgets of 2013-14
The Reserve Bank of India (RBI) today released the report State Finances: A Study of Budgets of 2013-14, an annual publication that provides data, analysis and an assessment of the finances of state governments. It also serves as a primary source for disaggregated state-wise fiscal data. The report analyses data relating to fiscal position of… Read More
SEBI First International Research Conference-2014
Securities and Exchange Board of India (SEBI), in its silver jubilee year, is organizing its First International Research Conference during January 27-28, 2014 in Mumbai. The theme of the Conference is HFT, Algo Trading and Co-location. SEBI has invited academicians/market practitioners/regulators, having experience in the field, from countries such as USA, Spain, Australia, Canada, Japan,… Read More
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