Corporate Law Reporter - The Daily Journal

RBI notification on enhancing the role of standalone Primary Dealers in corporate debt market

RBI/2012-13/405 IDMD. PCD. No. 2223/14.03.05/2012-13 January 30, 2013 All Standalone Primary Dealers Dear Sir/Madam, With a view to enhance standalone Primary Dealers™ (PDs) role in corporate debt market, it has been decided to: Allow PDs a sub-limit of 50% of net owned funds for investment in corporate bonds within the overall permitted average fortnightly limit… Read More

RBI Notification to UCBs to adjust Bank Rates

RBI/2012-13/404 UBD.BPD.(PCB).Cir.No. 35/16.11.00/2012-13 January 30, 2013 The Chief Executive Officer All Primary (Urban) Co-operative Banks Madam/Dear Sir, Bank Rate Please refer to our circular UBD.BPD.(PCB).Cir.No.40/16.11.00/2011-12 dated June 5, 2012 on the captioned subject. As announced in the Third Quarter Review of Monetary Policy Statement 2012-13, the Bank Rate stands adjusted by 25 basis points from 9.00 per cent… Read More

RBI Notification to Urban Co-operative Banks on Maintenance of CRR

RBI/2012-13/403 UBD.BPD. (SCB). CIR. No. 3 /12.03.000/2012-13 January 30, 2013 The Chief Executive Officers of All Scheduled Primary (Urban) Co-operative Banks Madam/Dear Sir, Section 42(1) of Reserve Bank of India Act, 1934 Maintenance of Cash Reserve Ratio (CRR) Please refer to our Circular UBD. BPD.(SCB).Cir.No.2/12.03.000/2012-13 dated October 30, 2012 on the captioned subject. 2. As set out… Read More

I&B Ministry Constitutes Expert Committee to Review Functioning of Prasar Bharti

The Ministry of Information & Broadcasting has constituted an Expert Committee for the purpose of reviewing the institutional frame work of Prasar Bharati including its relationship with Government, its continuing role as a public broadcaster and measures needed to ensure technical upgradation of the organization. The composition of the Expert Committee is as under:- i)… Read More

Information & Broadcasting Ministry statement on regulations for the media space

Regulation must Keep Pace with Changing Technologies- Shri Manish Tewari I&B Minister inaugurates BES Expo 2013 Minister for Information & Broadcasting, Shri Manish Tewari has said with the exponential growth in the media space, a paradigm shift has taken place wherein regulations have to keep pace with changing technologies. An enabling statutory environment has to… Read More

Date for Receipt of applications for Allotment of Coal Blocks to PSU Extended

The Ministry of Coal has extended last date of receipt of applications for allocation of 17 coal blocks to the Government Companies/Undertakings from January 30th,2013 to February 8th, 2013. The Ministry of Coal has initiated the process of allocation of Coal Blocks under the amended provisions of MMDR Act and Rules framed thereunder. In the… Read More

Income Tax Notification notifying National Skill Development Fund

SECTION 194A OF THE INCOME-TAX ACT, 1961 - DEDUCTION OF TAX AT SOURCE - INTEREST OTHER THAN INTEREST ON SECURITIES - NOTIFIED INSTITUTION NOTIFICATION NO. 4/2013 [F.NO.275/28/2012-IT(B)], DATED 24-1-2013 In exercise of the powers conferred by sub-clause (f) of clause (iii) of sub-section (3) of section 194A of the Income-tax Act, 1961 the Central Government… Read More

RBI Adjustments of Bank Rates by 25 basis points

RBI/2012-13/402 Ref:DBOD.No.Ret.BC. 77/12.01.001/2012-13 January 29, 2013 All Scheduled Commercial Banks & Local Area Banks Dear Sir, Bank Rate As announced in the Third Quarter Review of Monetary Policy 2012-13, the Bank Rate stands adjusted by 25 basis points from 9.00 per cent to 8.75 per cent with effect from January 29, 2013. 2. All penal interest… Read More

RBI modification of Maintenance of Cash Reserve Ratio

RBI/2012-13/401 Ref: DBOD.No.Ret. BC.76/12.01.001/2012-13 January 29, 2013 All Scheduled Commercial Banks & Local Area Banks (Excluding Regional Rural Banks) Dear Sir, Maintenance of Cash Reserve Ratio (CRR) Please refer to our Circular DBOD.No.Ret.BC.52/12.01.001/2012-13 dated October 30, 2012 on the captioned subject. 2. As set out in the Reserve Bank's Press Release 2012-2013/1267 dated January 29, 2013, it has… Read More

Third Quarter Review of Monetary Policy 2012-13 – Statement by Dr. D. Subbarao, Governor, Reserve Bank of India

"First of all, on behalf of the Reserve Bank, a warm welcome to you all to this Third Quarter Review of Monetary Policy for 2012-13. 2. Earlier this morning, we put out the Policy Review document. Based on an assessment of the current macroeconomic situation, we have decided to reduce the policy repo rate under… Read More

RBI Change of Liquidity Adjustment Facility with respect to Repo, Reverse Repo and Marginal Standing Facility Rates

RBI/2012-2013/398 FMD.MOAG. No.74/01.01.001/2012-13 January 29, 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 Third Quarter Review of the Monetary Policy 2012-13, it has been decided to reduce the Repo rate under the… Read More

Modifications in Bank KYC norms in the event of transfer of account holder

RBI/2012-13/399 DBOD.AML.BC. No. 78 /14.01.001/2012-13 January 29, 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 Please refer to… Read More

Standing Liquidity Facilities for Banks and Primary Dealers

RBI/2012-13/400 REF.No.MPD.BC.361 /07.01.279/2012-13 Magha 9, 1934 (Saka) January 29, 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 Third Quarter Review of Monetary Policy 2012-13 dated January 29, 2013, in terms of which the repo rate under the… Read More