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The Reserve Bank of India (RBI) did another rate in repo rate by 40 basis point to 4%. Which ideally should be transmitted in the form of lower cost of finance (ROI) to borrowers. However the same is far from reality. The Reserve Bank of India introduced the MCLR methodology for fixing interest rate from […]...
Read MoreSuyash Choudhary, Head – Fixed Income, IDFC AMC The monetary policy committee (MPC), reflecting the sign of times, had yet another out of policy meeting and delivered a 40 bps repo rate cut with commensurate changes to the rest of the rates in the corridor. In its assessment, the committee noted the further deterioration in […]...
Read MoreIn this article, we have tried to focus on the basic concepts that will enlighten about achieving the technical know- how and the provisions before making such Investment....
Read MoreNeSL is India’s first Information Utility and is registered with the Insolvency and Bankruptcy Board of India (IBBI) under the aegis of the Insolvency and Bankruptcy Code, 2016 (IBC). The Company has been set up by leading Banks and Public Institutions and is incorporated as a Union Government Company....
Read MoreIt is well known that all banks baring private ones always insist for capital infusion by Government which passes negative results on public as Government always conveys banks to raise capital on their own. Due to above, don’t you think that in other words, banks convey that their management is not competitive enough to garner [&hel...
Read MoreRBI extends the three-month moratorium The loan moratorium will be extended till August 31 2020. This makes it a six month moratorium Lending institutions are being permitted to restore the margins for working capital to the origin level by March 31, 2021...
Read MoreRBI Governor Shaktikanta Das addressed the media at 10 am today post Finance Minister gave details of the Rs 20 lakh crore economic relief package to help the economy recover from the coronavirus pandemic. Key Highlights: 1. Repo rate reduced by 40 bps to 4% 2. Private consumption impacted most by COVID-19 3. Food inflation […]...
Read MoreQ.1 Which types of cards are allowed for withdrawing cash at PoS terminals? Ans. Under the facility of cash withdrawal at PoS terminals, cardholders can withdraw cash using their debit cards and open system prepaid cards issued by banks in India. However, credit cards cannot be used under this facility. Cash can also be withdrawn at [&he...
Read MoreWe advise that as per the circular dated April 17, 2020 on asset classification and provisioning, 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 class...
Read MoreICSI made a representation to RBI GOvernor requesting Relaxation from compliance with provisions of Foreign Exchange Management Act, 1999 (FEMA) due to the COVID-19 pandemic. Text of the Same is as follows:- Institute of Company Secretaries of India ICSI:PFP: 2020 April 16, 2020 Shri Shaktikanta Das Governor Reserve Bank of India Central ...
Read MorePandurang Ganpati Chaugule Vs Vishwasrao Patil Murgud Sahakari (Supreme Court of India) - Pandurang Ganpati Chaugule Vs Vishwasrao Patil Murgud Sahakari (Supreme Court) (1) (a) The co-operative banks registered under the State legislation and multi-State level co-operative societies registered under the MSCS Act, 2002 with respect to ‘banking’ are governed by the legislation ...
Read MoreEastman Auto & Power Limited Vs RBI (Delhi High Court) - The object of issuing notifications/circulars dated 27.03.2020 and 17.04.2020 was to provide financial relief in repayment due to COVID-19 to the parties who have availed the term loans and working capital facilities but this relief is not extended towards factoring facilities....
Read MoreKamal Kumar Kalia Vs Union of India (Supreme Court) - Learned counsel for the petitioner submits that Circular dated 27.03.2020 issued by the Reserve Bank of India has not been implemented by the banks. Hon'ble Supreme Court directs the Reserve Bank of India to ensure implementation of the Circular dated 27.03.2020 in its letter and spirit....
Read MoreTranscon Skycity Private Limited Vs. ICICI Bank (Bombay High Court) - The period of the moratorium during lockdown will not be reckoned by ICICI Bank for the purposes of computation of the 90-day NPA declaration period. Further, if the lockdown extends beyond 31st May 2020, then these days will be deferred accordingly, irrespective of whether the moratorium itself is ...
Read MoreShakuntala Educational & Welfare Society Vs Punjab & Sind Bank (Delhi High Court) - Hon’ble Court opined that irrespective of the question, as to whether the moratorium as envisaged by RBI would be applicable to the petitioner qua the instalments, any classification of the petitioner’s accounts as NPA in present situation would certainly cause a grave and irreparable loss to th...
Read MoreF. No. 4(28)-B(W&M)/2017 - (27/05/2020) - Government of India (GoI), vide Notification F.No. 4(28)-(W&M)/2017 dated May 27, 2020, hereby announces that 7.75% Savings (Taxable) Bonds, 2018 shall cease for subscription with effect from the close of banking business on 28th of May, 2020....
Read MoreRBI/2019-20/243 DOR.No.BP.BC.70/21.01.003/2019-20 - (23/05/2020) - With a view to facilitate greater flow of resources to corporates, it has been decided, as a one-time measure, to increase a bank’s exposure to a group of connected counterparties from 25% to 30% of the eligible capital base of the bank....
Read MoreRBI/2019-20/245 DOR.No.BP.BC.72/21.04.048/2019-20 - (23/05/2020) - In respect of accounts which were within the Review Period as on March 1, 2020, the period from March 1, 2020 to August 31, 2020 shall be excluded from the calculation of the 30-day timeline for the Review Period. In respect of all such accounts, the residual Review Period shall resume from Septembe...
Read MoreRBI/2019-20/244 DOR.No.BP.BC.71/21.04.048/2019-20 - (23/05/2020) - Lending institutions are permitted, at their discretion, to convert the accumulated interest for the deferment period up to August 31, 2020, into a funded interest term loan (FITL) which shall be repayable not later than March 31, 2021....
Read MoreRBI/2019-20/246 DOR.DIR.BC.No.73/04.02.002/2019-20 - (23/05/2020) - It has been decided to increase the maximum permissible period of pre-shipment and post-shipment export credit sanctioned by banks from one year to 15 months, for disbursements made upto July 31, 2020....
Read MoreF. No. 4(28)-B(W&M)/2017 - (27/05/2020) -
Pandurang Ganpati Chaugule Vs Vishwasrao Patil Murgud Sahakari (Supreme Court of India) -
RBI/2019-20/243 DOR.No.BP.BC.70/21.01.003/2019-20 - (23/05/2020) -
RBI/2019-20/245 DOR.No.BP.BC.72/21.04.048/2019-20 - (23/05/2020) -
RBI/2019-20/244 DOR.No.BP.BC.71/21.04.048/2019-20 - (23/05/2020) -
RBI/2019-20/246 DOR.DIR.BC.No.73/04.02.002/2019-20 - (23/05/2020) -
RBI/2019-20/240 DOR.No.Ret.BC.74/12.01.001/2019-20, RBI/2019-20/238 REF.No.MPD.BC.391/07.01.279/2019-20, RBI/2019-20/236 FMOD.MAOG.No.143/01.18.001/2019-20, RBI/2019-20/237 FMOD.MAOG.No.142/01.01.001/2019-20 - (22/05/2020) -
