banking regulation

2. With a view to disseminating information on the SLR status of a Government security, it has been decided that: (i) the SLR status of securities issued by the Government of India and the State Governments will be indicated in the Press Release issued by the Reserve Bank of India at the time of issuance of the securities; and (ii) an updated and current list of the SLR securities will be posted on the Reserve Bank's website (www.rbi.org. in) under the link " Database on.. Full Article

The transaction involves a global acquisition of a banking business by the Purchaser from the Seller. Consequent thereto, all assets and liabilities in India will be acquired by the Purchaser from the Seller. The acquisition of the assets and liabilities in India will either be through: (a) slump sale process, in which the undertaking as a going concern will be transferred by the Seller to the Purchaser for a lump sum consideration, or (b) through a court approved scheme.. Full Article

The corporate affairs ministry and the Institute of Chartered Accountants of India (ICAI) are confident of meeting the April 2011 deadline to shift to International Financial Reporting Standards (IFRS). But industry says a complete transition from Indian Generally Accepted Accounting Principles (GAAP) to IFRS may take time. Full Article

XBRL (eXtensible Business Reporting Language) is an electronic format for communication of business and financial data which is revolutionising business reporting around the world. XBRL is one of a family of "XML" languages which is becoming a standard means of communicating information between businesses and on the internet. XBRL provides major benefits in the preparation, analysis and communication of business information. Full Article

Major financial sector bills such as the Insurance Law Amendment Bill seeking to increase the FDI cap in private insurance firms and the Banking Regulation Amendment Bill to raise the voting rights of foreign entities in private sector banks are unlikely to be taken up in the Winter session of Parliament that begins today. Full Article

SUMMARY OF CASE LAW A primary agricultural co-operative credit society is not a co-operative bank and therefore, not entitled to any deduction under section 80P(2)(a)(i) as a bank; but as it is a primary co-operative credit society, it may be entitled to some deductions on the income earned by it from its transactions with its [...] Full Article

Rupee Export Credit Interest Rates RBI/2009-10/ 157 , Ref.: UBD.CO.BPD.Cir. No. 1/13.05.000/ 2009-10 Dated:-September 16, 2009 Rupee Export Credit Interest Rates Please refer to our circular UBD.PCB.Cir. No. 3/13.05.000/ 2008-09 dated June 18, 2009 on the captioned subject regarding extension of interest subvention of 2 percentage points w.e.f. June 1, 2009 till September 30, 2009 on [...] Full Article

???? RBI/2009-10/138 UBD.CO.BSD. (SCB). No.5/12.09.009/2009-10 August 31, 2009 The Chief Executive Officer All Primary (Urban) Co-operative Banks Dear Sir, Section 6 of the Banking Regulation Act, 1949 (As Applicable to Co-operative Societies) – Forms of Business in which banking companies may engage A reference is invited to Section 6 (1)(f) of the Banking Regulation Act [...] Full Article