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.
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
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.
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.
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.
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.
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
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
The Madras High Court bench here has ruled that the Employees Provident Fund Organisation (EPFO) cannot claim damages from employers for delayed payment of their contribution “if there is no intention to commit a prohibited act or actus reus” (action
The draft guidelines on how foreign banks can convert themselves into wholly owned subsidiaries of their parents, have been delayed, with the Reserve Bank of India (RBI) awaiting clarity from tax authorities. The guidelines were to be have been relea
