As the standardized framework will help bring about uniformity in the classifications being used across sectors and in securities market, credit rating agencies are advised to use this standardized industry classification for the purpose of rating exercise, peer benchmarking, research activities including research for Economy, Industries and Companies etc.
The policy of income recognition should be objective and based on record of recovery rather than on any subjective considerations. Likewise, the classification of assets of banks has to be done on the basis of objective criteria which would ensure a uniform and consistent application of the norms. Also, the provisioning should be made on the basis of the classification of assets based on the period for which the asset has remained non-performing and the availability of security and the realisable value thereof.
Capital acts as a buffer in times of crisis or poor performance by a bank. Sufficiency of capital also instills depositors’ confidence. As such, adequacy of capital is one of the preconditions for licensing of a new bank as well as its continuance in business.
Recognizing the importance of SHG Bank linkage, banks have been advised to meet the entire credit requirements of SHG members, as envisaged in Paragraph 93 of the Union Budget announcement for the year 2008-09
AAAR hold that the impugned services of the renting out of immovable properties provided by the Appellant to the Social Justice Department of the Government of Maharashtra will be exempt form the levy of GST in terms of Sl. No. 3 of the Notification No. 12/2017-C.T (Rate) dated 28.06.2017
Validity of the existing Hand Book of Procedures (HBP), 2015-20 is extended upto 30th September, 2022 by DGFT vide Public Notice No. 53/2015-2020 Dated: 31st March, 2022. Government of India Ministry of Commerce and Industry Department of Commerce Directorate General of Foreign Trade New Delhi Public Notice No. 53/2015-2020 Dated: 31st March, 2022 F. No. […]
Bilateral Netting of Qualified Financial Contracts Act, 2020, has been notified by Notification No. S.O. 3463(E) dated October 1, 2020. The Act provides a legal framework for enforceability of bilateral netting of qualified financial contracts (QFC).
IRDA extend the facilitation dispensing with physical signature on proposal forms of Life Insurance Policies and permitting OTP based validation, up to 30/09/2022. All other provisions, in respect of this dispensation, of the above referred circulars remain unchanged. Insurance Regulatory and Development Authority of India Ref: IRDAI/Life/Cir/Misc/059/03/2022 Date: 31st March, 2022 To All Life Insurers […]
CBIC amends Notification No. 19/2022-Customs (N.T) dated 30.03.2022 vide Notification No. 48/2022-Customs (N.T.) Dated: 31.05.2022. MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF INDIRECT TAXES AND CUSTOMS) New Delhi Notification No. 48/2022-Customs (N.T.) | Dated: 31st May, 2022 S.O. 2494(E).—In exercise of the powers conferred by sub-section (4) of section 51A of the Customs […]
Q.1 What is UIDAI Secure QR Code? How QR Code enhance the security of e-Aadhaar? Ans. UIDAI e-Aadhaar letter contains a Aadhaar secure QR code. UIDAI has replaced existing QR code, on e-Aadhaar, having Resident’s demographic details with a secured QR Code which contains digitally signed data like last 4 digits of Aadhaar number, demographic […]
