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EXTERNAL COMMERCIAL BORROWINGS; External Commercial Borrowings (ECBs) are loan made by non-resident lenders in convertible foreign exchange to the Indian borrowers. ECBs are the instruments through which loans are availed by India borrowers from foreign sources. ECBs include bank loans, buyer’s credit, supplier’s credit, securitised i...
Read MoreA foreign company can commence operations in India by incorporating the subsidiary company most preferably as a Private limited company under the Companies Act, 2013. It is treated as a domestic company under Indian taxation laws and is eligible for all exemptions, deduction benefits as applicable to any other Indian Company. ...
Read MoreNBFC stands for Non-Banking Financial Company and is registered under the Companies Act, 2013 and managed by RBI with activities very similar to the bank except for some major differences. NBFC is known to provide financial support and services to businesses and individuals. One of the principal objectives of a Non-Banking Financial Compa...
Read MoreMarket Abuse:It includes market manipulation, benchmark manipulation, misuse of information, or any other similar practice. Market abuse may arise in circumstances where financial market investors have been unreasonably disadvantaged, directly or indirectly, by others who:...
Read MoreStatutory audits of banks and their branches are under process. Various issues relating to these audits are under discussion amongst the (auditors ) Chartered Accountants . One of such issues in bank branch audit is regarding reversal of unrealized interest on loans / advances which have became NPA in the year under audit. In this artic...
Read MoreThe biggest risk facing these economies is the growing evidence that global growth and trade is weakening. Unsettled trade tensions and developments around Brexit are imparting further downside risks to the outlook. There is considerable uncertainty as to whether this weakness is temporary or the beginning of a recession in advanced econo...
Read MoreDate : Apr 03, 2019 RBI releases Draft Rupee Interest Rate Derivatives (Reserve Bank) Directions, 2019 under section 45 W of the RBI Act, 1934 The Reserve Bank of India today released Draft Rupee Interest Rate Derivatives (Reserve Bank) Directions 2019. Comments on the draft directions are invited from banks, market participants and oth...
Read MoreReserve Bank of India will take necessary steps, including issuance of a revised circular, as may be necessary, for expeditious and effective resolution of stressed assets....
Read MoreIn general, FinTech stands for financial technology and describes technologically enabled financial innovations. From ‘start-ups’ to ‘big-techs’ to established financial institutions, all the key players are harnessing this technological edge along the financial services’ value chain to provide agile, efficient and differentiat...
Read MoreThe e-commerce sector is expected to keep growing in future because of a number of reasons. The FDI policy on e-commerce has remained unchanged. Better enforcement of this policy will contribute significantly to growth of this sector over medium and long term....
Read MoreDharani Sugars And Chemicals Ltd. Vs Union of India & Ors. (Supreme Court of India) - Hon'ble Supreme Court held that RBI Circular directing bank to take recourse to Insolvency and Bankruptcy Code (IBC) is ultra vires to Section 35AA of the Banking Regulation Act....
Read MoreRevati Cements Pvt. Ltd & Anr. Vs State Bank of India & Ors. (Madhya Pradesh HC) - Assessee-company being a ‘willful defaulter’ could not be represented through the lawyers or Chartered Accountants as the personal hearing was available only to borrower Director and Promoter of the alleged default unit....
Read MoreM/s Sree Anandhakumar Mills LTD. Vs M/s Indian Overseas Bank & ORS. (Supreme Court of India) - Though the case has a chequered history and the facts are long the matter lies within a short compass. The core question is one relating to the maintainability of the suit, viz., O.S. No.106 of 2009 filed by the second respondent – Nandini seeking partition wherein the order of injunction was pas...
Read MoreLalit Kumar Modi Vs Special Director (Bombay High Court) - If the IPL has resulted in all of us being acquainted and familiar with phrases such as Betting, fixing of matches, then, the RBI and the Central Government should at least now consider whether holding such tournaments serves the interest of a budding cricketer, the sport, the game itself. ...
Read MoreJ Sekar Vs. Union Of India & Ors (Delhi High Court) - The Delhi High Court has upheld the constitutional validity of the second proviso to Section 5 (1) of the Prevention of Money-laundering Act, 2002 (PMLA). ...
Read MorePress Release: 2018-2019/2488 - (20/04/2019) - Currently, branches of commercial banks observe holiday only on second and fourth Saturday of a month apart from Sunday. It has been reported in certain sections of media that commercial banks would have a 5-day week on RBI instructions. This information is not factually correct. RBI has not issued ...
Read MorePress Release : 2018-2019/2485 - (18/04/2019) - Reserve Bank of India Press Releases Date : Apr 18, 2019 In view of the growing significance of FinTech innovations and their interface with the financial sector as well as financial sector entities, the Financial Stability and Development Council – Sub Committee had decided to set up a Workin...
Read MoreRBI/2018-19/167A.P. (DIR Series) Circular No.29 - (11/04/2019) - Re-insurance and composite insurance brokers registered with IRDA may open and maintain non-interest bearing foreign currency accounts with an AD bank in India for the purpose of undertaking transactions in the ordinary course of their business....
Read MorePress Release: 2018-2019/2390 - (06/04/2019) - Reserve Bank of India (RBI) has learnt through media reports that Lakshmi Vilas Bank (LVB) and Indiabulls Housing Finance Limited (IBHFL) have made a merger announcement on April 5, 2019 with approval of their respective Boards....
Read MorePress Release: 2018-2019/2364 - (04/04/2019) - Reserve Bank of India Date : Apr 04, 2019 First Bi-monthly Monetary Policy Statement, 2019-20 Resolution of the Monetary Policy Committee (MPC) Reserve Bank of India On the basis of an assessment of the current and evolving macroeconomic situation, the Monetary Policy Committee (MPC) at its meeting...
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Press Release: 2018-2019/2488 - (20/04/2019) -
Dharani Sugars And Chemicals Ltd. Vs Union of India & Ors. (Supreme Court of India) -
Press Release : 2018-2019/2485 - (18/04/2019) -
RBI/2018-19/167A.P. (DIR Series) Circular No.29 - (11/04/2019) -
Revati Cements Pvt. Ltd & Anr. Vs State Bank of India & Ors. (Madhya Pradesh HC) -
