"01 July 2011" Archive - Page 2

NBFCs : RBI's Master Circular dated 1-7-2011 on 'Know Your Customer' (KYC) Guidelines

CIRCULAR NO. DNBS (PD) CC NO. 231/03.10.42/ 2011-12 01/07/2011

The 'Know Your Customer' guidelines were issued in February 2005 revisiting the earlier guidelines issued in January 2004 in the context of the Recommendations made by the Financial Action Task Force (FATF) on Anti Money Laundering (AML) standards and on Combating Financing of Terrorism (CFT). These standards have become the international...

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FEMA – RBI's Master Circular dated 1-7-2011 on Money Transfer Service Scheme

Master Circular No. 14/2011-12 01/07/2011

Money Transfer Service Scheme (MTSS) is a quick and easy way of transferring personal remittances from abroad to beneficiaries in India. Only inward personal remittances into India such as remittances towards family maintenance and remittances favouring foreign tourists visiting India are permissible. No outward remittance from India is p...

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NBFCs – RBI's Master Circular, dated 1-7-2011 on Miscellaneous Non-Banking Companies (Reserve Bank) Directions, 1977

CIRCULAR NO. DNBS (PD) CC NO. 230/03.02.001/ 2011-12 01/07/2011

These directions shall be known as the Miscellaneous Non-Banking Companies (Reserve Bank) Directions, 1977. They shall come into force with effect from the 1st July, 1977 and any reference in these directions to the date of commencement thereof shall be deemed to be a reference to that date....

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RBI’s Master Circular dated, 1-7-2011 on Fair Practices Code

CIRCULAR NO. DNBS (PD) CC NO. 232/03.10.042/2011-12 01/07/2011

Guidelines on Fair Practices Code for NBFCs -( i) Applications for loans and their processing (a) Loan application forms should include necessary information which affects the interest of the borrower, so that a meaningful comparison with the terms and conditions offered by other NBFCs can be made and informed decision can be taken by t...

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RBI's Master Circular dated 1-7-2011 on Corporate Governance

CIRCULAR NO. DNBS (PD) CC NO. 234/03.10.001/2011-12 01/06/2011

Rotation of partners of the statutory auditors audit firm - With public deposits/deposits of Rs. 50 crore and above- 1. The need for good corporate governance has been gaining increased emphasis over the years. Globally, Companies are adopting best corporate practices to increase the investors confidence as also that of other stakeholders...

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RBI's Master Circular dated 1-7-2011 on Non-Banking Financial (Non-Deposit Accepting or Holding) Companies Prudential Norms (Reserve Bank) Directions, 2007

CIRCULAR NO. DNBS (PD) CC NO. 225/03.02.001/2011-12 01/07/2011

These Directions shall be known as the 'Non-Banking Financial (Non-Deposit Accepting or Holding) Companies Prudential Norms (Reserve Bank) Directions, 2007'. (2) These Directions shall come into force with immediate effect....

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NBFCs – RBI's Master Circular dated 1-7-2011 on Mortgage Guarantee Companies Prudential Norms (Reserve Bank) Directions, 2008

CIRCULAR NO. DNBS (PD-MGC) C.C. NO. 9/23.11.01/2011-12 01/07/2011

The Reserve Bank of India, having considered it necessary in the public interest, and being satisfied that, for the purpose of enabling the Bank to regulate the credit system to the advantage of the country, it is necessary to issue the directions relating to the prudential norms as set out below, in exercise of the powers conferred by se...

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NBFCs – RBI's Master Circular dated 1-7-2011 on Miscellaneous Instructions to NBFC-ND-SI

CIRCULAR NO. DNBS (PD) CC NO. 235/03.10.001/2011-12 01/07/2011

Financial Regulation of Systemically Important NBFCs and Banks’ Relationship with them - The Reserve Bank of India had set up an Internal Group to examine the issues relating to level playing field, regulatory convergence and regulatory arbitrage in the financial sector. Based on the recommendations of the Internal Group and on the basi...

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RBI's Master Circular, dated 1-7-2011 on Cash Reserve Ratio (CRR) and Statutory Liquidity Ratio (SLR)

CIRCULAR NO. DBOD. NO.RET. BC.13/12.01.001/2011-12 01/07/2011

Please refer to the Master Circular RBI/2010-11/70 DBOD. No.Ret.BC.23/ 12.01.001/2010-11 dated July 01, 2010 updating instructions/guidelines issued to the Scheduled Commercial Banks (SCBs) on CRR/SLR till June 30, 2010. The Master Circular has been suitably updated by incorporating the instructions issued on the subject up to June 30, 20...

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India’s Foreign Trade – May, 2011

India’s Exports during May, 2011 were valued at US $ 25941.28 million (Rs. 116488.01 crore) which was 56.93 per cent higher in Dollar terms (53.82 per cent higher in Rupee terms) than the level of US $ 16530.85 million (Rs. 75730.31 crore) during May, 2010. Cumulative value of exports for the period April-May 2011 -12 was US $ 49790.60 ...

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