Section 42(1) of the Reserve Bank of India Act, 1934 – Change in Daily Minimum Cash Reserve Maintenance Requirement
RBI/2013-14/154 DBOD.No.Ret.BC.35/12.01.001/2013-14 July 23, 2013 To All Scheduled Commercial Banks (Excluding Regional Rural Banks) Dear Sir, Section 42(1) of the Reserve Bank of India Act, 1934 - Change in Daily Minimum Cash Reserve Maintenance Requirement Please refer to Press Release 2013-2014/154 dated July 23, 2013 announcing additional measures to address exchange market volatility. 2. As mentioned therein,… Read More
RBI Announces Liquidity Adjustment Facility
Over the last two months, the Reserve Bank of India (RBI) has undertaken several measures to contain the volatility in the foreign exchange market. Among them, some measures intended to check excessive speculation adding to undue volatility in market conditions were instituted vide the RBI's Press Release No.2013-2014/100 dated July 15, 2013. These measures have had… Read More
RBI announces Additional measures to address Exchange Market Volatility
Over the last two months, the Reserve Bank of India (RBI) has undertaken several measures to contain the volatility in the foreign exchange market. Among them, some measures intended to check excessive speculation adding to undue volatility in market conditions were instituted vide the RBI's Press Release No.2013-2014/100 dated July 15, 2013. These measures have had… Read More
Comments invited on Draft Sports Bill
The Union Minister of State (I/C) for Youth Affairs and Sports Shri Jitendra Singh has sent the draft of the National Sports Development Bill to the Union Council of Ministers, Leaders of the Opposition in the Lok Sabha and Rajya Sabha, States/UTs Sports Ministers, Standing Committee/Consultative Members of MYAS, Leaders of various political parties in… Read More
Wool Importers Get Relief on Quarantine Issue
Wool Importers Get Relief on Quarantine Issue ; Value Added Woolen Products to Benefit The wool importers have been complaining of difficulty and harassment on quarantine issue for the last three years. Some Quarantine Officers and Custom Officers had stopped clearance of wool imports seeking animal quarantine clearance/ NOC. The wool importers raised this issue before… Read More
Grant of Family Pension and Gratuity to the eligible member of the family of any employee/pensioner
Family pension is payable to the family of a Government employee or pensioner after his death. Difficulties in payment arise when a Government Servant or pensioner goes missing. Clarificatory instructions have recently been issued by the Central Government for payment of benefits in such cases. According to these instructions, the family must lodge a report… Read More
Payment of Arrears of family pension
In case of death of a pensioner, all money payable to the pensioner on account of pension are payable to the nominee of the deceased pensioner. In the absence of any valid nomination made by the pensioner, the arrears of his/her pension are paid to the legal heir. However, dependants of some pensioners expressed difficulties… Read More
First Meeting of Manufacturing Industry Promotion Board
First Meeting of Manufacturing Industry Promotion Board; Reviews Progress of NMIZS, Capital Goods Sector The Union Minister of Commerce and Industry Shri Anand Sharma today called for accelerating the implementation of National Manufacturing Policy (NMP) and noted with satisfaction the good progress made by some states in land acquisition for National Investment and Manufacturing Zones (NMIZ).… Read More
Simplifying norms for Periodical Updation of KYC
RBI/2013-14/150 DBOD.AML.BC. No. 34/14.01.001/2013-14 July 23, 2013 The Chairmen / CEOs of all Scheduled Commercial Banks (Excluding RRBs)/Local Area Banks / All India Financial Institutions Dear Sir, Know Your Customer (KYC) Norms /Anti-Money Laundering (AML) Standards/ Combating of Financing of Terrorism (CFT)/Obligation of banks under Prevention of Money Laundering Act (PMLA), 2002 - Simplifying norms… Read More
Exim Bank’s Line of Credit of USD 19 million to the Government of the Republic of Senegal
RBI/2013-14/149 A.P. (DIR Series) Circular No.16 July 23, 2013 To All Category - I Authorised Dealer Banks Madam / Sir, Exim Bank's Line of Credit of USD 19 million to the Government of the Republic of Senegal Export-Import Bank of India (Exim Bank) has entered into an Agreement dated December 19, 2012 with the Government of… Read More
Basic Statistical Returns of Scheduled Commercial Banks in India – Volume 41, March 2012
The Reserve Bank of India today placed on its website Basic Statistical Returns of Scheduled Commercial Banks in India - Volume 41, March 2012. Basic Statistical Returns of Scheduled Commercial Banks in India, provides granular data on different dimensions of deposits and credit of the banking sector. The information is collected from bank branches through Basic… Read More
Revised Scheme for Import of Gold
Certain restrictions were imposed on the import of various forms of gold by nominated banks/nominated agencies/ premier or star trading houses/SEZ units/EoUs which have been permitted to import gold for use in the domestic sector. On a review of the above instructions and in consultation with Government of India, it has been decided to rationalize… Read More
CLR Snippets | All options on Sovereign Bond Issue on Table
Some of the news channels /news wires have been misreporting that the Government of India is no longer contemplating a Sovereign Bond Issue. These reports are without any basis. As the Ministry of Finance has said repeatedly, all options are on the table and are examined from time to time. Steps are taken by the… Read More
Subscribe to the Daily Journal
Corporate Law Referencer
India’s Leading Compliance Software
