Corporate Law Reporter - The Daily Journal

Standing Liquidity Facilities for Banks and Primary Dealers

RBI/2012-13/490 MPD No.BC. 364/07.01.279/2012-13 May 3, 2013 To All Scheduled Banks [excluding Regional Rural Banks(RRBs) ] and Primary Dealers Dear Sir/Madam, Standing Liquidity Facilities for Banks and Primary Dealers Please refer to the Monetary Policy Statement 2013-14 dated May 3, 2013, in terms of which the repo rate under the Liquidity Adjustment Facility (LAF) has been… Read More

RBI Clarification on Unique Customer Identification Code for NBFC Customers in India

RBI/2012-13/489 DNBS (PD).CC. No. 325/03.10.42/2012-13 May 03, 2013 Non-Deposit taking NBFCs with assets of Rs 25 cr and above/ All Deposit taking NBFCs Dear Sir, Know Your Customer (KYC) norms/Anti-Money Laundering (AML) standards/Combating of Financing of Terrorism (CFT) - Unique Customer Identification Code for NBFC Customers in India (UCIC) The Reserve Bank of India has… Read More

Bank Rate stands adjusted by 25 basis points from 8.50 per cent to 8.25 per cent with effect from May 3, 2013

RBI/2012-13/488 DBOD.No.Ret.BC.91 /12.01.001/2012-13 May 3, 2013 All Scheduled Commercial Banks & Local Area Banks Dear Sir, Bank Rate As announced in the Annual Monetary Policy Statement 2013-14, the Bank Rate stands adjusted by 25 basis points from 8.50 per cent to 8.25 per cent with effect from May 3, 2013. 2. All penal interest rates on… Read More

RBI Clarification – Priority Sector Lending – Targets and Classification Revision of Limits

RBI/2012-13/487 RPCD.CO.Plan. BC 72/04.09.01/2012-13 May 03, 2013 The Chairman/ Managing Director/ Chief Executive Officer [All scheduled commercial banks (excluding Regional Rural Banks) Madam/Dear Sir, Priority Sector Lending-Targets and Classification Revision of Limits Please refer to paragraph 65 of the Monetary Policy Statement for the year 2013-14. The following limits under priority sector stand revised upward with effect… Read More

Liquidity Adjustment Facility Repo and Reverse Repo and Marginal Standing Facility Rates

RBI/2012-13/486 FMD.MOAG. No. 78 /01.01.001/2012-13 May 03, 2013 All Scheduled Commercial Banks (excluding RRBs) and Primary Dealers Dear Sir, Liquidity Adjustment Facility Repo and Reverse Repo and Marginal Standing Facility Rates As announced today by the Governor in the Monetary Policy Statement for 2013-14, it has been decided to reduce the Repo rate under the… Read More

Cross Border Inward Remittance under Money Transfer Service Scheme

RBI/2012-13/485 A.P. (DIR Series) Circular No. 102 May 2, 2013 To, All Authorised Persons, who are Indian Agents under Money Transfer Service Scheme. Madam/ Dear Sir, Anti-Money Laundering (AML) standards/Combating the Financing of Terrorism (CFT) Standards - Cross Border Inward Remittance under Money Transfer Service Scheme Please refer to our A.P.(DIR Series) Circular No. 71 dated… Read More

Money changing activities – Anti-Money Laundering (AML) standards/Combating the Financing of Terrorism (CFT) Standards

RBI/2012-13/484 A.P. (DIR Series) Circular No. 101 May 2, 2013 To, All Authorised Persons Madam/ Dear Sir, Anti-Money Laundering (AML) standards/Combating the Financing of Terrorism (CFT) Standards - Money changing activities Please refer to our A.P.(DIR Series) Circular No. 70 dated January 10, 2013 on risks arising from the deficiencies in AML/CFT regime of certain jurisdiction. 2.… Read More

Implementation of Section 51-A of UAPA, 1967 | Updates of the UNSCR 1267 etc

RBI/2012-13/482 DNBS (PD).CC. No 324/03.10.42/2012-13 May 2, 2013 All Non Banking Financial Companies / Residuary Non Banking Companies Dear Sir/Madam, Implementation of Section 51-A of UAPA, 1967 -Updates of the UNSCR 1267 (1999) /1989 (2011) Committee's Al Qaida Sanctions List and Consolidated List Please refer to DNBS (PD).CC.No 318/03.10.42/2012-13 dated December 28, 2012. The Chairman… Read More

Monetary Policy Statement for 2013-14 Statement by Dr. D. Subbarao, Governor, Reserve Bank of India

"First of all, on behalf of the Reserve Bank, a hearty welcome to you all to this dissemination of the Monetary Policy Statement for 2013-14, which we put out a short while ago. 2. Based on an assessment of the current and prospective macroeconomic situation, we have decided to reduce the policy repo rate under… Read More

RBI Release – Monetary Policy Statement 2013-14

By Dr. D. Subbarao Governor Introduction The Annual Policy for 2013-14 is formulated in an environment of incipient signs of stabilisation in the global economy and prospects of a turnaround, albeit modest, in the domestic economy. 2. In the advanced economies (AEs), near-term risks have receded, aided by improving financial conditions and supportive macroeconomic policies. But this… Read More

RBI Release – Macroeconomic and Monetary Developments in 2012-13

The Reserve Bank of India today released the Macroeconomic and Monetary Developments in 2012-13. The document serves as a backdrop to the Monetary Policy Statement 2013-14 to be announced on May 3, 2013. Highlights: Overall Outlook Macro-financial risks require cautious monetary policy stance ahead In view of macro-financial risks that stay significant, headline inflation remaining… Read More

CLR Snippets | Anti-Competitive Practice Information Against Certain Car Manufacturing Companies

Information filed with the Competition Commission of India (CCI) against certain car manufacturing companies alleging anti-competitive practices is under consideration of the Commission. Giving this information in written reply to a question in the Lok Sabha today Shri Sachin Pilot, Minister of Corporate Affairs, said that for protecting the interest of consumers, CCI is empowered… Read More

Committee on Business Climate

A Committee under the Chairmanship of Sh. M. Damodaran has been constituted on 23.08.2012 by this Ministry to extensively examine different areas of root functioning such as financial reforms, governance reforms, liberalized policy framework, process reforms etc, and to suggest a roadmap for improving climate in India. The Committee is likely to submit its report… Read More