SEBI (Credit Rating Agencies) Regulations, 1999 have prescribed a comprehensive Code of Conduct to be followed by all SEBI registered CRAs which, inter alia, states that a CRA shall at all times exercise due diligence, ensure proper care and exercise independent professional judgment in order to achieve and maintain objectivity and independence in the rating process.
Reserve Bank of India (RBI) has informed that as on 31st December, 2011, a total amount of around Rs. 2481.39 crores in 11249844 accounts is lying as unclsimed deposits with the Scheduled Commercial Bank (SCBs). The bank group-wise details are as under:-
It has been decided that following exemptions shall be taken into consideration while arriving at compliance with 100% promoter(s) holding in demat form. Such exemption shall be applicable in cases where :-a. Promoter(s) have sold their shares in physical mode and such shares have not been lodged for transfer with the company; or b. Matters concerning part/entire shareholding of promoters/promoter group are sub judice before any Court/Tribunal; or c. Shares cannot be converted into demat form due to death of any promoter(s); or d. Shares allotted to promoter(s) that await final approval for listing from stock exchange and such pendency is less than 30 days or shares that upon receipt of final listing approval from stock exchange are pending conversion to demat and such pendency is less than 15 days.
Algorithmic Trading – Any order that is generated using automated execution logic shall be known as algorithmic trading. The stock exchange shall have arrangements, procedures and system capability to manage the load on their systems in such a manner so as to achieve consistent response time to all stock brokers. The stock exchange shall continuously study the performance of its systems and, if necessary, undertake system upgradation, including periodic upgradation of its surveillance system, in order to keep pace with the speed of trade and volume of data that may arise through algorithmic trading.
At present, banks generally make two types of provisions viz., general provisions on standard assets and specific provisions on non-performing assets (NPAs). Since the level of NPAs varies through the economic cycle, the resultant level of specific provisions also behaves cyclically. Consequently, lower provisioning during upturns, and higher provisioning during downturns have procyclical effect on the real economy.
Notification No. 22/2012-Central Excise Central Government, being satisfied that it is necessary in the public interest so to do, hereby makes the following amendments in the notification of the Government of India in the Ministry of Finance (Department of Revenue), No. 18/2012-Central Excise, dated the 17th March, 2012, published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i), vide number G.S.R 169 (E), dated the 17th March, 2012, namely:-
Notification No. 30/2012 – Customs (N. T.) In exercise of the powers conferred by sub-section (2) of section 14 of the Customs Act, 1962 (52 of 1962), the Central Board of Excise & Customs, being satisfied that it is necessary and expedient so to do, hereby makes the following amendment in the notification of the Government of India in the Ministry of Finance (Department of Revenue), No. 36/2001-Customs (N.T.), dated the 3rd August, 2001, published in the Gazette of India, Extraordinary, Part-II, Section-3, Sub-section (ii), vide number S. O. 748 (E), dated the 3rd August, 2001, namely:-
Short title and commencement.- (1) These rules may be called the Central Excise ( Third Amendment) Rules, 2012. (2) They shall come into force on the date of their publication in the Official Gazette.2. In the Central Excise Rules, 2002 ( hereinafter referred to as the principal rules),-
Notification No. 29/2012 – Customs (N. T.) In exercise of the powers conferred by sub-section (1) of section 5 of the Customs Tariff Act, 1975 (51 of 1975), the Central Government hereby makes the following further amendment in the notification of the Government of India in the Ministry of Finance (Department of Revenue), No. 101/2004-Customs (N.T.), dated the 31st August, 2004, published in the Gazette of India, Extraordinary, Part-II, Section-3, Sub-section (ii), vide number S. O. 970 (E), dated the 31st August, 2004, namely:-
Central Government, being satisfied that it is necessary in the public interest so to do, hereby makes the following amendments in the notification of the Government of India in the Ministry of Finance (Department of Revenue), No. 12/2012-Central Excise, dated the 17th March, 2012, published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i), vide number G.S.R 163 (E), dated the 17th March, 2012, namely:-
