Corporate Law Reporter - The Daily Journal

Implementation of Basel III Capital Regulations in India Draft Guidelines

RBI/2011-12/331 DBOD.No.BP.BC. 71/ 21.06.201 / 2011-12 December 30, 2011 The Chairman and Managing Directors/ Chief Executives Officers of All Scheduled Commercial Banks (Excluding Local Area Banks and Regional Rural Banks) Madam / Dear Sir, Implementation of Basel III Capital Regulations in India Draft Guidelines As you are aware, the Basel Committee on Banking Supervision (BCBS)… Read More

KYC Norms/AML Standards/CFT/Obligation of Banks under PMLA 2002 Assessment and Monitoring of Risk

RBI/2011-12/327 RPCD.CO.RCB. AML.BC. No.50/07.40.00/2011-12 December 30, 2011 The Chairmen / Chief Executive Officers All State and Central Co-operative Banks 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- Assessment and Monitoring of Risk Please refer to our circular RPCD.AML.BC.No.80/07.40.00/2004-05 dated… Read More

External Commercial Borrowings (ECB) denominated in Indian Rupees (INR) – hedging facilities for non-resident entities

RBI/2011-12/326 A. P. (DIR Series) Circular No.63 December 29, 2011 To All Category-I Authorised Dealer Banks Madam / Sir, External Commercial Borrowings (ECB) denominated in Indian Rupees (INR) - hedging facilities for non-resident entities Attention of Authorized Dealers Category I (AD Category I) banks is invited to the Foreign Exchange Management (Foreign Exchange Derivative Contracts)… Read More

Date of Filing Service Tax Return for Half year Apr-Sept, 2011 extended to 6th January, 2012

F. No. 137/99/2011 Service Tax Government of India Ministry of Finance Department of Revenue Central Board of Excise and Customs, ********** New Delhi, the 29th December 2011 ORDER NO 3 /2011 Service Tax In exercise of the powers conferred by Rule 7(4) of the Service Tax Rules 1994 read with notification No. 48/2011-Service… Read More

Notification No. 115/ 2011 – Customs – Tariff Notification

[TO BE PUBLISHED IN THE GAZETTE OF INDIA, EXTRAORDINARY, PART II, SECTION 3, SUB-SECTION (i)] GOVERNMENT OF INDIA MINISTRY OF FINANCE (DEPARTMENT OF REVENUE) Notification No. 115/ 2011 - Customs New Delhi, dated the 28th December, 2011 G.S.R. (E).- In exercise of the powers conferred by sub-section (1) of section 25 of the Customs Act, 1962 (52… Read More

Notification No.88 / 2011 – Customs – Exchange Rates from 1st Jan, 2012

TO BE PUBLISHED IN THE GAZETTE OF INDIA, PART-II, SECTION 3, SUB-SECTION (ii), EXTRAORDINARY] GOVERNMENT OF INDIA MINISTRY OF FINANCE DEPARTMENT OF REVENUE CENTRAL BOARD OF EXCISE AND CUSTOMS Notification No.88 / 2011 - Customs (N.T.) Dated the 28th December, 2011 7 Pausha, 1933(SAKA) S.O. (E). In exercise of the powers conferred by section 14 of the… Read More

Qualified Foreign Investors (QFIS) Allowed to Directly Invest in Indian Equity Market; Scheme to Help Increase the Depth of the Indian Market and in Combating Volatility Beside Increasing Foreign Inflows into the County

In a major policy decision, the Central Government has decided to allow Qualified Foreign Investors (QFIs) to directly invest in Indian equity market in order to widen the class of investors, attract more foreign funds, and reduce market volatility and to deepen the Indian capital market. QFIs have been already permitted to have direct access to Indian Mutual Funds schemes… Read More

General Circular No. 72/2011-Further Clarification regarding participation by Shareholders or Directors in meetings under the companies Act, 1956 through electronic mode – authorization regarding e-voting

General Circular No. 72/2011 No. 17/95/2011-CL-V Government of India Ministry of Corporate Affairs 5th floor, ˜A™ Wing, Shastri Bhawan, Dr. Rajendra Prasad Road, New Delhi Dated 27.12.2011 To All the Regional Directors. All the Registrar of Companies. Sub.: - Green Initiatives in Corporate Governance Further Clarification regarding participation by Shareholders or… Read More

Banks’ Exposure to Capital Market – Issue of Irrevocable Payment Commitments (IPCs)

RBI/2011-12/322 DBOD.Dir.BC. 68 /13.03.00/2011-12 December 27, 2011 All Scheduled Commercial Banks (excluding RRBs) Dear Sir / Madam Banks' Exposure to Capital Market - Issue of Irrevocable Payment Commitments (IPCs) Please refer to our circulars No.DBOD.Dir.BC.46/13.03.00/2010-11 dated September 30, 2010, DBOD.Dir.BC.52/13.03.00/2010-11dated October 28, 2010 and DBOD.Dir.BC.43/13.03.00/2011-12 dated October 31, 2011 wherein banks issuing Irrevocable Payment Commitments (IPCs) to various Stock Exchanges on… Read More

Capital Requirement for banks™ investments in financial entities exempted from Capital Market Exposure

RBI/2011-12/321 DBOD.No.BP.BC. 69 /21.06.001/2011-12 December 27, 2011 The Chairman and Managing Directors/ Chief Executive Officers of All Scheduled Commercial Banks (Excluding RRBs and LABs) Dear Sir, Capital Requirement for banks™ investments in financial entities exempted from Capital Market Exposure Please refer to paragraph 5.13.4 of our Master Circular No. DBOD.No.BP.BC.11/ 21.06.001/2010-11 dated July 1, 2011 on Prudential Guidelines… Read More

Standardisation and Enhancement of Security Features in Cheque Forms-Implementation of CTS 2010 standard

RBI/2011-12/320 DPSS.CO.CHD.No./ 1112 / 04.07.05 / 2011-12 December 27, 2011 The Chairman and Managing Director / Chief Executive Officer All Scheduled Commercial Banks including RRBs / Urban Co-operative Banks / State Co-operative Banks / District Central Co-operative Banks Madam / Dear Sir, Standardisation and Enhancement of Security Features in Cheque Forms-Implementation of CTS 2010 standard… Read More

Credit Default Swaps NBFCs as Users

RBI/2011-12/317 DNBS.CC.PD.No.253/03.10.01/2011-12 December 26, 2011 To All NBFCs(excluding primary dealers) Dear Sir, Credit Default Swaps NBFCs as Users Please refer to the Guidelines on Credit Default Swaps for Corporate Bonds issued vide Circular No.IDMD.PCD.No.5053/14.03.04/2010-11 dated May 23, 2011 in terms of which broad guidelines including the eligible participants and other requirements were outlined. It was also… Read More

Revised Capital Adequacy Framework for Off-Balance Sheet Items for NBFCs

RBI/2011-12/316 DNBS.CC.PD.No.252/03.10.01/2011-12 December 26, 2011 To All NBFCs (excluding RNBCs) Dear Sir, Revised Capital Adequacy Framework for Off-Balance Sheet Items for NBFCs In the normal course of their business, NBFCs are exposed to credit and market risks in view of the asset-liability transformation. With liberalisation in Indian financial markets over the last few years and… Read More