Important Non-Deposit taking Company (Reserve Bank) Directions, 2016 on ‘Norms for restructuring of advances’. The Reserve Bank has issued guidelines to banks on deferment of date of commencement of commercial operations (DCCO) for projects in commercial real estate (CRE) sector vide circular number DOR.No.BP.BC.33/21.04.048/2019-20, dated February 07, 2020.
it has been decided that all banks shall not make any further dividend payouts from the profits pertaining to the financial year ended March 31, 2020 until further instructions. This restriction shall be reassessed by the Reserve Bank based on the financial results of banks for the quarter ending September 30, 2020.
Given that SLR has now been reduced to 18 per cent of NDTL from April 11, 2020, and with increase in MSF from 2 per cent to 3 per cent of the banks’ NDTL (with effect from March 27, 2020 and applicable upto June 30, 2020), entire SLR-eligible assets held by banks are now permitted to be reckoned as HQLAs for meeting LCR.
In respect of all accounts classified as standard as on February 29, 2020, even if overdue, the moratorium period, wherever granted, shall be excluded by the lending institutions from the number of days past-due for the purpose of asset classification under the IRAC norms.
As announced in Governor’s Statement today, it has been decided to reduce the interest rate on fixed rate reverse repo under the Liquidity Adjustment Facility (LAF) by 25 basis points from 4.00 per cent to 3.75 per cent with immediate effect.
In our view this is not a fair or proper procedure. If not in the first notice, at least at the time of furnishing the reasons the assessee should have been informed that the revenue relied upon the second proviso. The assessee must be put to notice of all the provisions on which the revenue relies upon.
CBIC notifies Rate of Exchange of Foreign Currencies against India Rupees wef 17.04.2020 vide Notification No. 39/2020-Customs (N.T.), Dated: 16th April, 2020. GOVERNMENT OF INDIA MINISTRY OF FINANCE (DEPARTMENT OF REVENUE) (CENTRAL BOARD OF INDIRECT TAXES AND CUSTOMS) ***** Notification No. 39/2020-Customs (N.T.) New Delhi, dated the 16th April, 2020 27 Chaitra 1942 (SAKA) In […]
MHA issues order to exempt certain activities regarding Minor Forest Produce, Plantations, NBFCs, Cooperative Credit Societies and Construction in Rural Areas from Lockdown Restrictions to fight COVID-19. Ministry of Home Affairs (MHA) has issued an order to exempt certain activities under the consolidated revised guidelines to all Ministries/Departments (https://www.mha.gov.in/sites/default/files/MHA%20order%20dt%2015.04.2020%2C%20with%20Revised%20Consolidated%20Guidelines_compressed%20%283%29.pdf), regarding the Nationwide lockdown to fight […]
1. (1) These rules may be called the Prevention of Money-laundering (Maintenance of Records) Third Amendment Rules, 2020. (2) They shall come into force on the date of their publication in the Official Gazette.
MCA had constituted a Committee of Experts (CoE) under Chair personship of Shri M. S. Sahoo, Chairperson, IBBI on 30th August 2019 to examine need for an institutional framework for regulation and development of Valuation Profession.
