"01 July 2011" Archive - Page 4

RBI’S Master Circular dated 1-7-2011 on Regulatory Framework for Core Investment Companies (CICs)

CIRCULAR NO. DNBS (PD) CC NO. 237/03.02.001/2011-12 01/07/2011

The Bank had announced in the Annual Policy 2010-11 that companies which have their assets predominantly as investments in shares for holding stake in group companies but not for trading, and also do not carry on any other financial activity, i.e., Core Investment Companies, (CICs), justifiably deserve a differential treatment in the regu...

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Report fraud cases of Rs 1 cr and above to CBI – RBI to banks

In order to check banking frauds, RBI today asked public sector lenders to promptly report cases of cheating involving Rs 1 crore and above to the CBI, and of the lesser amount to the police. ...

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Posted Under: Fema / RBI |

Conditions and modalities for registration of contracts of cotton waste including yarn waste and garneted stock [ITC(HS) Code 5202] with DGFT

Policy Circular No. 34 (RE-2010)/2009-14 07/07/2011

Has raised the cap on export of cotton for the cotton season 2010-11 (upto 30.09.2011) to 65 lakh bales, thereby allowing export of additional 10 lakh bales of cotton, upto 30.09.2011. Through Notification No. (RE-2010)/2009-14 dated .06.2011, it has been notified that the cap of additional 10 lakh bales, on export of cotton dur...

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Clarification regarding import of Fuel under Advance Authorisation / DFIA Scheme

Policy Circular No. 33/2009-14 (RE 2010) 01/07/2011

(i) The General Note for Fuel has been incorporated in view of provisions at para 4.1.3 of FTP which allows fuel as an additional input to obtain export product. (ii) In cases where fuel is used as a single input or basic raw material and not as an additional input to the export product, the entitlement shall not be as per the General ...

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RBI's Master Circular dated 1-7-2011 on Mortgage Guarantee Company (Reserve Bank) Guidelines, 2008

CIRCULAR NO. DNBS (PD-MGC) C.C. NO. 8/23.11.01/2011-12 01/07/2011

The Reserve Bank of India, in terms of Notification No. DNBS (MGC) 1 /CGM (PK)- 2008, dated January 15, 2008, issued in terms of section 45-I(f)(iii) of the Reserve Bank of India Act, 1934 (2 of 1934) and on being satisfied that it is necessary so to do, in exercise of the powers conferred under section 45L(1)(b) of the said Act, 1934 (2 ...

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Notification No. 58(RE-2010)/2009-14, Dated: 07.01.2011

Notification No. 58(RE-2010)/2009-14 01/07/2011

It has been decided that the cap of additional 10 lakh bales, on export of cotton during the cotton season 2010-11 (upto 30.09.2011), will apply only to Tariff codes 5201 and 5203. This cap shall not apply to export of cotton waste including yarn waste and garneted stock(Tariff code 5202)....

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RBI asks banks to rotate staff to check loan fraud

In a bid to contain frauds in banks, the Reserve Bank today asked lenders to rotate staff and put in place check and balances before giving high value loans. Banks may put in place a system wherein the concurrent audit can be undertaken in order to contain the frauds, RBI said in a notification.Banks should verify genuineness documents of...

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Posted Under: Fema / RBI |

Trade in Border Haats across the border at Meghalaya between Bangladesh and India

Public Notice No.61/2009-2014 (RE-2010) 01/07/2011

It operationlises the provisions of Memorandum of Understanding dated 23.10.2010 between India and Bangladesh and facilitates trade in Border Haats at Baliamari – Kalaichar and Lauwaghar –Balat across the borders at Meghalaya. ...

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RBI's Master Circular dated 1-7-2011 on Miscellaneous Instructions to All Non-Banking Financial Companies

CIRCULAR NO. DNBS (PD) CC NO. 236/03.02.001/2011-12 01/07/2011

RBI's Master Circular dated 1-7-2011 on Miscellaneous Instructions to All Non-Banking Financial Companies It was decided to introduce an ALM System for the Non-Banking Financial Companies (NBFCs), as part of their overall system for effective risk management in their various portfolios. The abovementioned guidelines would be applicable t...

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RBI's Master Circular dated 1-7-2011 on Classification and Reporting of Frauds

Master Circular No. DBS.CO.FRMC.BC. NO.2/23.04.001/2011-12 01/07/2011

Please refer to our letter DBS.CO. FrMC BC No. 2/23.04.001/2009-10 dated July 01, 2010 forwarding therewith Master Circular on ‘Frauds – Classification & Reporting’. It may be noted that the Master Circular consolidates and updates all the instructions issued during the year since the date of the last Master Circular dated July 01, ...

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