Corporate Law Reporter - The Daily Journal

Supervisory Action Framework for Urban Cooperative Banks (UCBs)

RBI/2011-12/420 UBD.BPD. (PCB). Cir.No. 22/12.05.001/2011-12 The Chief Executive Officer, All Primary (Urban) Co-operative Banks. Madam / Dear Sir, Supervisory Action Framework for Urban Cooperative Banks (UCBs) You are aware, that the Reserve Bank of India (the Bank) conducts inspection of UCBs under the provisions of the Banking Regulation Act, 1949 (AACS) (the Act), to assess… Read More

Clarification – Establishment of Branch Offices (BO) / Liaison Offices (LO) in India by Foreign Entities Delegation of Powers

RBI/2011-12/421 A.P. (DIR Series) Circular No.88 To All Category - I Authorised Dealer Banks Madam / Sir, Clarification - Establishment of Branch Offices (BO) / Liaison Offices (LO) in India by Foreign Entities Delegation of Powers Attention of Authorised Dealer Category I (AD Category I) banks is invited to A.P. (DIR Series) Circular No.24 dated December… Read More

Assignment of Lead Bank responsibility- Newly formed district of Prabudh Nagar in the State of Uttar Pradesh

RBI/2011-12/422 RPCD.CO.LBS. BC.No. 62/02.08.01/2011-12 The Chairmen/CMD All Lead Banks Dear Sir/Madam, Assignment of Lead Bank responsibility- Newly formed district of Prabudh Nagar in the State of Uttar Pradesh The Government of Uttar Pradesh vide their Gazette Notification No. 2875/1-5-2011-155/2011-R-5 dated September 28, 2011 has advised about the constitution of a new district viz. Prabudh Nagar… Read More

Import of sensitive items for the period April-December 2011 increases by 44.7%

Total import of sensitive items for the period April-December 2011 has been Rs.75948 crores as compared to Rs.52492 crores during the corresponding period of last year thereby showing an increase of 44.7%. The gross import of all commodities during same period of current year was Rs.1651240 crores as compared to Rs.1228075 crores during the same… Read More

International Conference on South-South Cooperation inaugurated

Union Labour & Employment Minister Shri Mallikarjun Kharge has said that coming together of the countries of South-South will lead to understanding of the best practices prevailing in these countries, and development of effective technical cooperation programmes. Inaugurating the International Conference on South-South Cooperation Innovations in Public Employment Programmes for Sustainable Inclusive Growth here today,… Read More

DGFT- Amendment in Appendix 37D, Handbook of Procedure, Vol.I

(To be published in the Gazette of India Extraordinary Part -I, Section-1) Government of India; Ministry of Commerce and Industry Department of Commerce; Directorate General of Foreign Trade Public Notice No. 101(RE-2010)/2009-14 Dated 29 February, 2012 Sub: Amendment in Appendix 37D, Handbook of Procedure, Vol.I In exercise of the powers conferred under Paragraph 2.4 of… Read More

DGFT- Conditionality for Import of Erythromycin Thiocyanate under Advance Authorization Scheme

Government of India; Department of Commerce; Directorate General of Foreign Trade Policy Circular No. 55 (RE-2010)/2009-14; Dated: 29.2.2012 Subject: Conditionality for Import of Erythromycin Thiocyanate under Advance Authorization Scheme: Applicability of Policy Circular No.9 dated 30.6.2003 and PC 15 dated 17.9.2003. Policy Circular No. 9 dated 30.6.2003 and Policy Circular No 15 dated 17.9.2003 prescribe exemption… Read More

DGFT- On-line filing of PRC

Government of India; Ministry of Commerce and Industry; Directorate General of Foreign Trade Policy Circular No. 56; Dated: 29.02.2012 To, All RA™s /Trade & Industry Sub: ˜On-line™ filing of PRC. Applications seeking relaxation of Foreign Trade Policy/Procedure are to be filed ˜on-line™ on DGFT™s server (dgft.gov.in) using their digital signature/existing IEC + password combination. 2. Steps to… Read More

Comptroller and Auditor General of India, Mr. Vinod Rai is the new chairman of the 45 nation strong Asian Organization of the Institutions of the Accountants General

India today took over the chair of assembly and governing board of Association of Supreme Audit Institutions (ASOSAI). Comptroller and Auditor General of India, Mr. Vinod Rai is the new chairman of the 45 nation strong Asian Organization of the Institutions of the Accountants General. ASOSAI is the largest regional organization of the government auditors.… Read More

India welcomed the decision of Pakistan Govt. to transition from a Positive List Regime to a small Negative List for trade

India has welcomed the decision of the Government of Pakistan to transition from a Positive List Regime to a small Negative List for trade with India. This development reaffirms the commitment of both Governments for trade normalization as per the roadmap drawn During the Visit of Pakistan Commerce Minister from 26th September to 2nd October,… Read More

Compilation of R-Returns: Reporting under FETERS

RBI/2011-12/413 A.P. (DIR Series) Circular No. 84 To All Authorised Dealers in Foreign Exchange Madam / Sir, Compilation of R-Returns: Reporting under FETERS Attention of Authorised Dealer (Category I) banks is invited to A.P.(DIR Series) Circular No.77 dated March 13, 2004 giving guidelines for compilation of R-Returns and reporting under the Foreign Exchange Transactions Electronic Reporting System (FETERS), and… Read More

External Commercial Borrowings (ECB) for Infrastructure facilities within National Manufacturing Investment Zone (NMIZ)

RBI/2011-12/414 A. P. (DIR Series) Circular No. 85 To All Category-I Authorised Dealer Banks Madam / Sir, External Commercial Borrowings (ECB) for Infrastructure facilities within National Manufacturing Investment Zone (NMIZ) Attention of Authorized Dealer Category-I (AD Category-I) banks is invited to the Foreign Exchange Management (Borrowing or Lending in Foreign Exchange) Regulations, 2000, notified videNotification… Read More

Know Your Customer (KYC) norms-Cross Border Inward Remittance under Money Transfer Service Scheme

BI/2011-12/416 A.P. (DIR Series) Circular No. 87 To All Authorised Persons, who are Indian Agents under Money Transfer Service Scheme. Madam/ Sir, Know Your Customer (KYC) norms / Anti-Money Laundering (AML) standards / Combating the Financing of Terrorism (CFT) / Obligation of Authorised Persons under Prevention of Money Laundering Act (PMLA), 2002, as amended by… Read More