"02 March 2010" Archive

External Commercial Borrowings (ECB) Policy – Structured Obligations

RBI/2009-10/335 , A.P. (DIR Series) Circular No. 40 02/03/2010

Attention of Authorised Dealer Category - I (AD Category - I) banks is invited to Notification No.FEMA 29/2000-RB dated September 26, 2000 viz. Payment to person resident outside India on invocation of guarantee, A.P. (DIR Series) Circular No. 28 dated March 30, 2001 and A.P. (DIR Series) Circular No. 5 dated August 1, 2005 relating to Ex...

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RBI Circular No.38 on External Commercial Borrowings (ECB) Policy

RBI/2009-10/333, A.P. (DIR Series) Circular No.38 02/03/2010

As per the extant ECB policy, infrastructure sector is defined as (i) power, (ii) telecommunication, (iii) railways, (iv) road including bridges, (v) sea port and airport, (vi) industrial parks, (vii) urban infrastructure (water supply, sanitation and sewage projects) and (viii) mining, exploration and refining....

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External Commercial Borrowings (ECB) Policy – Infrastructure

RBI/2009-10/333 , A.P. (DIR Series) Circular No.38 02/03/2010

As announced in para 54 of the Union Budget for the Year 2010-11, it has been decided to expand the definition of infrastructure sector, for the purpose of availing of ECB, to include “cold storage or cold room facility, including for farm level pre-cooling, for preservation or storage of agricultural and allied produce, marine product...

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Review of bilateral clearing arrangements between banks – Regional Rural Banks

RBI/2009-10/332, RPCD.CO RRB.BC.No.58/03.05.33/2009-10 02/03/2010

As you are aware, for convenient, cost-effective and quick processing and settlement of clearing instruments arising out of normal business activities of banks, an elaborate Clearing House infrastructure is in place in the country. Currently operational at most locations across the length and breadth of the country, Clearing Houses facili...

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Report of the High Level Committee to Review Lead Bank Scheme – Implementation of the recommendations

RBI/2009-10/331,RPCD.CO.LBS.HLC.BC.No. 57 /02.19.10/2009-10 02/03/2010

The Committee recommended that the Lead Bank Scheme is useful and needs to continue. The overarching objective of the Scheme is to enable banks and State Governments to work together for inclusive growth. All the action points emanating from the recommendations of the Committee requiring action to be taken by the Lead Banks/commercial ban...

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CBDT issued clarification on explanation to section 194A

Circular No. 3/2010-Income Tax 02/03/2010

Circular No. 3/2010-Income Tax CBDT clarifies that Explanation to 194A is not meant to apply in cases of banks where credit is made to provisioning account on daily/monthly basis for the purposes of macro monitoring only by the use of CBS software...

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