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Archive: November, 2010

Posts in November, 2010

Empanelment of Chartered Accountant firms for Audit of Urban Co-operative Banks of Maharashtra – Last Date 25th November, 2010

November 10, 2010 1481 Views 0 comment Print

Empanelment of Chartered Accountant firms for Audit of Urban Co-operative Banks of Maharashtra.(Last Date 25th November, 2010)1. Only those Maharashtra based partnership firms which are there in the Bank Branch Auditor’s Panel 2010-11, are eligible to apply. To check your eligibility, pl visit www.meficai.org

Empanelment of Individual Chartered Accountants/ proprietary firms for Audit of Urban Credit Societies and other Societies (other than UCBs) of Maharashtra

November 10, 2010 1782 Views 0 comment Print

Empanelment of Individual Chartered Accountants/ proprietary firms for Audit of Urban Credit Societies and other Societies (other than UCBs) of Maharashtra.(Last Date 25th November, 2010) 1.    Empanelment of Proprietorship Chartered Accountant firms and members practicing in individual name for Audit of Urban Credit Societies and other Co- operative Societies (Only those Maharashtra based proprietorship firms […]

Audit Committee of the Board of Directors – Calendar of Reviews

November 10, 2010 2220 Views 0 comment Print

The instructions have now been consolidated and a comprehensive calendar of reviews to be placed before ACBs is given in the Annex. It is emphasized that the calendar outlines the critical minimum requirements of review and the bank Boards will have discretion to prescribe additional reviews to suit their requirements.

Guarantor-director cannot be dragged into arbitration

November 10, 2010 1267 Views 0 comment Print

The Supreme Court (SC) ruled last week that a guarantor outside an arbitration agreement cannot be made a party to the arbitration proceedings. It reversed the judgment of the Delhi high court which had asked the guarantor to comply with the award of

Electronic Funds Transfer Infrastructure in India – Usage of RTGS and NEFT

November 9, 2010 780 Views 0 comment Print

Based on requests received from the participant member banks, it is clarified that the revised customer charges for the transactions routed through RTGS are applicable for amounts starting from ` 2 lakhs and above.

Ready Forward Contracts in Corporate Debt Securities

November 9, 2010 541 Views 0 comment Print

In exercise of the powers conferred by Section 45 W of the Reserve Bank of India Act, 1934 and in partial modification of the notification No IDMD.DOD. 04/11.08.38/2009-10 dated January 8, 2010, the Reserve Bank hereby makes the following amendments in the Repo in Corporate Debt Securities (Reserve Bank) Directions, 2010 dated 8th January 2010 (hereinafter referred to as the said Directions) namely.

Shortfall in Maintenance of SLR – Additional Liquidity support under LAF

November 9, 2010 637 Views 0 comment Print

As stated in the Reserve Bank’s press release issued on November 09, 2010, in line with the stance of monetary policy set out in the Second Quarter Review of November 2, 2010 and in order to provide liquidity comfort arising out of frictional liquidity pressure, it has been decided that scheduled commercial banks may avail of additional liquidity support under the Liquidity Adjustment Facility (LAF) to the extent of up to 1.0 per cent of their Net Demand and Time Liabilities (NDTL) as on the reporting Friday of the second preceding fortnight. For any shortfall in maintenance of Statutory Liquidity Ratio (SLR) during November 9 – December 16, 2010.

Facilitating transactions in Mutual Fund schemes through the Stock Exchange infrastructure

November 9, 2010 504 Views 0 comment Print

This circular is issued in exercise of powers conferred under Section 11 (1) of the Securities and Exchange Board of India Act, 1992, read with the provisions of Regulation 77 of SEBI (Mutual Funds) Regulations, 1996, to protect the interests of investors in securities and to promote the development of, and to regulate the securities market.

CA coaching set to go online

November 9, 2010 420 Views 0 comment Print

THE Chartered Accountancy course, supposed to be one of the toughest, has a pass percentage of 5-10 per cent. In an attempt to increase it to 20 per cent, efforts are on start satellite-based education across the country, including the tier-II cities

RBI see no case for levy of pre-payment penalty

November 9, 2010 486 Views 0 comment Print

Banks are losing their battle for penalty on home loan pre-payments as the Reserve Bank of India sees no case for such a levy given that lenders don’t play a fair game with borrowers. In a meeting with chief executives of banks last week, RBI deputy

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