Reverse Repo under LAF to be available between 7.00 p.m. to 7.30 p.m. from Monday
Based on the feedback received from the market participants, the Reserve Bank of India has decided to revise the timings of Reverse Repo window under Liquidity Adjustment Facility (LAF). The Reverse Repo window will now be available between 7.00 p.m. and 7.30 p.m. instead of the existing timings of 4.45 p.m. to 5.15 p.m. The change… Read More
MCA Organized more than 1300 Investor Awareness Programmes
During the Current Financial Year, a total of 1,370 Investor Awareness Programmes have been organized by the Ministry of Corporate Affairs in various parts of the country as on 31.12.2013 through its 3 Professional Institutes: Institute of Chartered Accountants of India (ICAI), Institute of Company Secretaries of India (ICSI) and the Institute of Cost Accountants… Read More
Distribution of Banknotes & Coins Review of Incentives & Penalties
RBI/2013-14/450 DCM (CC) No.G-16/03.39.01/2013-14 January 13, 2014 The Chairman & Managing Directors/ Chief Executive Officers All Scheduled Commercial Banks (Including RRBs, UCBs, State Cooperative Bank & District Central Cooperative Banks) Dear Sir / Madam, Distribution of Banknotes & Coins Review of Incentives & Penalties Please refer to Sl No.4 of our Circular DCM (CC) No.G-10/03.39.01/2013-14 dated… Read More
Conversion of External Commercial Borrowing and Lumpsum Fee/Royalty into Equity
RBI/2013-2014/449 A.P. (DIR Series) Circular No. 94 January 16, 2014 To All Category - I Authorised Dealer banks Madam/Sir, Conversion of External Commercial Borrowing and Lumpsum Fee/Royalty into Equity Attention of Authorised Dealer (AD) banks is invited to A.P. (DIR Series) Circular No. 15 dated October 1, 2004 on the captioned subject. 2. In terms of the… Read More
Capital and Provisioning Requirements for Exposures to entities with Unhedged Foreign Currency Exposure
RBI/2013-14/448 DBOD.No.BP.BC. 85 /21.06.200/2013-14 January 15, 2014 The Chairman and Managing Director/ Chief Executive Officer All Scheduled Commercial Banks (Excluding RRBs and LABs) Dear Sir, Capital and Provisioning Requirements for Exposures to entities with Unhedged Foreign Currency Exposure Please refer to the draft guidelines on the captioned subject issued on July 2, 2013 and paragraph… Read More
Clarification- Establishment of Liaison Office/ Branch Office/ Project Office in India by Foreign Entities- General Permission
RBI/2013-14/447 A.P. (DIR Series) Circular No.93 January 15, 2014 To All Authorised Dealer Category - I Banks Madam / Dear Sir Clarification- Establishment of Liaison Office/ Branch Office/ Project Office in India by Foreign Entities- General Permission Attention of Authorised Dealer Category I (AD Category I) banks is invited to Regulation 4 of Notification No.FEMA.22/2000-RB dated… Read More
Risk Management and Inter Bank Dealings
RBI/2013-2014/446 A.P. (DIR Series) Circular No. 92 January 13, 2014 All Category - I Authorised Dealer banks Madam/Sir, Risk Management and Inter Bank Dealings Attention of Authorised Dealers Category-I (AD Category-I) banks is invited to the Foreign Exchange Management (Foreign Exchange Derivative Contracts) Regulations, 2000 dated May 3, 2000 (Notification No. FEMA/25/RB-2000 dated May 3,… Read More
Companies Act 2013 and Draft Rules there under – Commentary on Drafting anomalies, aberrations, contradictions et al – Urgent Need for Review
Introduction The much awaited Companies Act 2013 (hereinafter referred to as The Act) is now a valid piece of legislation having received presidential assent in August last year. The Act is now operational, albeit, partially with 98 provisions having been notified for application effective September 12,2013.The other provisions have been kept in suspended animation awaiting… Read More
Change in Policy Gives Fillip to MRO Industry
Maintenance, Repair and Overhaul (MRO) industry will now be considered as part of the sub-sector of airport in the transport sector infrastructure for the purpose of External Commercial Borrowings (ECBs) in accordance with a policy change announced by RBI Circular No. 85 dated January 6, 2014. Consequently, the MRO industry which is a nascent vertical… 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. The… Read More
Legal Guardianship Certificates Issued under the Mental Health Act, 1987and National Trust for the Welfare of Persons with Autism, Cerebral Palsy, Mental Retardation and Multiple Disabilities Act, 1999
RBI/2013-14/444 DBOD.No.Leg.BC.84/09.07.005/2013-14 January 13, 2014 All Scheduled Commercial Banks (excluding RRBs) Dear Sir/Madam, Legal Guardianship Certificates Issued under the Mental Health Act, 1987and National Trust for the Welfare of Persons with Autism, Cerebral Palsy, Mental Retardation and Multiple Disabilities Act, 1999 Please refer to our Circular DBOD.No.Leg.BC.51/09.07.005/2007-08 dated November 19, 2007 wherein banks were advised, inter alia,… Read More
Alteration in the name of “Development Credit Bank Limited” to “DCB Bank Limited” in the Second Schedule to the Reserve Bank of India Act, 1934
RBI/2013-14/442 Ref.DBOD.No.Ret.BC /83/12.06.097/2013-14 January 10, 2014 All Scheduled Commercial Banks Dear Sir Alteration in the name of "Development Credit Bank Limited" to "DCB Bank Limited " in the Second Schedule to the Reserve Bank of India Act, 1934 We advise that the name of "Development Credit Bank Limited has been changed to "DCB Bank Limited"… Read More
Lending Against Security of Single Product Gold Jewellery
RBI/2013-14/435 DNBS.CC.PD.No. 365/03.10.01/2013-14 January 08, 2014 To All NBFCs (excluding PDs) Dear Sirs, Lending Against Security of Single Product Gold Jewellery Please refer to circular DNBS.CC.PD.No.356/03.10.01/2013-14 dated September 16, 2013 (˜the circular™) issued in line with the recommendations of the Working Group to Study the Issues Related to Gold Imports and Gold Loan NBFCs in India (K… Read More
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