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In partial modification of paragraph 3 (ii) thereof, it is advised that apart from the documents mentioned therein, any certificate / registration document issued by Sales Tax / Service Tax / Professional Tax authorities may also be considered for verification of the proof of name, address and activity of the Proprietary concern. Full Article

As regards the settlement mechanism for the IRF contracts, it has been decided that all entities having short (sold) position in the IRF contracts and required to deliver securities on the appointed date will move these securities from their respective Subsidiary General Ledger/Constituents ' Subsidiary General Ledger (SGL/CSGL) accounts with the RBI to a special "Settlement" SGL account of the respective Clearing Corporations of the Exchanges [Exchange Clearing House (E.. Full Article

Please refer to our circular UBD (PCB) CO.BPD. Cir. No. 15 / 14.01.062 / 2009-10 dated October 22, 2009 on the above subject. We have since received from Government of India (Ministry of External Affairs) copies of notes dated September 3, 2009; September 23, 2009 and October 22, 2009 from the Chairman of UN Security Council's 1267 Committee regarding changes made in the Consolidated List of Individuals and entities linked to Al-Qaida and Taliban as specified below: Full Article

The Financial Action Task Force (FATF) has issued a further Statement on October 16, 2009 on the subject (copy enclosed). UCBs are accordingly advised to take into account risks arising from the deficiencies in AML / CFT regime of Iran, Uzbekistan, Pakistan, Turkmenistan and Sao Tome and Principe. Full Article

Please refer to our circular UBD.PCB.Cir.No.4/09.18.201/2008-09 dated July 15, 2008 prescribing guidelines for issue of Preference shares and Long term Deposits by Urban Cooperative Banks. In this connection, it is advised that the Long Term Deposits referred to in the said guidelines should henceforth be titled as ‘Long Term (Subordinated) Deposits’. Full Article