The draft amendments introduce comprehensive rules governing recovery conduct and engagement of recovery agents by Local Area Banks. The framework mandates due diligence, borrower protection safeguards, and strict prohibition of harsh recovery practices.
RBI mandates formal training and certification for recovery agents before engagement. The move strengthens accountability and professional standards in debt recovery.
The order held that signing financial statements during disqualification violated Section 134(1). The key takeaway is that such non-compliance attracts penalty under Section 134(8), even for small companies.
The order held that failure to file DIR-12 within 30 days of resignation violated Section 170(2). The key takeaway is that administrative vacancy does not excuse statutory filing delays.
ICMAI requires prior approval of network names and submission of formal agreements through prescribed forms. Detailed provisions govern change in constitution and exit of affiliates.
Simplified online registration, auto-enrolment via MCA portal, and digital initiatives have led to a 251% rise in new EPFO registrations between 2019-20 and 2023-24. The reforms significantly expanded formal social security coverage.
All India Financial Institutions can finance SEBI-registered InvITs subject to structured safeguards. Lending is tied to leverage and security conditions.
Small Finance Banks can finance SEBI-registered InvITs under strict prudential limits. Aggregate exposure is capped at 49% of asset value.
Banks must distinctly report exposure to REITs under commercial real estate disclosures. The move enhances transparency in financial reporting.
The draft amendment limits aggregate exposure to REITs within CRE ceilings. Banks must maintain stricter concentration risk controls.
