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The Construction/ Real Estate sector is one of the most critical sectors of the Indian economy due to its huge multiplier effect on the economy. Any impact on the Real Estate sector has a direct bearing on economic growth. Due to the well-acknowledged need for foreign investments into this sector because of the sheer demand, […]...
Read MoreThe retail sector in India is one of the biggest contributors to the economy in terms of revenue and contributes about 10% towards its GDP. It provides the second highest rate of employment after agriculture. The retail sales in India are growing at a compounded annual rate of 15% since the year 2014....
Read MoreConsumer by definition include us all. They are the largest economic group in the economy, affecting and affected by every public and private economic decisions. Two thirds of all spending in the economy is by consumers. But they are the only important group in the economy who are not effectively organized, whose views are often not heard...
Read MoreA. Which entities are required to submit the FLA Return Ans. The annual return on Foreign Liabilities and Assets (FLA) is required to be submitted by the following entities which have Received Foreign Direct Investment (FDI) made FDI Abroad In the previous year(s) including the current year B. Whether all the Companies received foreign in...
Read MoreWhat is Foreign Direct Investment(FDI)? A Foreign Direct Investment (FDI) is an investment in the form of a controlling ownership in a business in one country by an entity based in another country. Some of the concepts covered under FDI are discussed below : A. Form Foreign Currency-Gross Provisional Return (FCGPR): In accordance with Not...
Read MoreReserve Bank of India The Monetary Policy Committee (MPC) met on 5th, 6th and 7th August, 2019 and deliberated over the evolving macroeconomic outlook, against the backdrop of recent developments and incoming data. Today, the MPC voted unanimously to reduce the policy repo rate and to maintain the accommodative stance of monetary policy. ...
Read MoreThe Government has taken comprehensive steps to reduce the incidence of frauds in banks. The steps taken include, inter-alia, the following: Government has issued Framework for timely detection, reporting, investigation relating to large value bank frauds to Public Sector Banks (PSBs), for systemic and comprehensive checking of legacy s...
Read MoreAs apprised by eighteen Public Sector Banks (PSBs) and four major private sector banks, the amount collected through the levy of charges for non-maintenance of minimum balance in Savings Bank account, during the last three financial years, are as under:...
Read MoreEligibility for credit is a function of a potential borrower’s repayment capacity and creditworthiness. Repayment capacity is assessed on the basis of both income and expenditure cash flows, as well as assets and liabilities. Further, creditworthiness is reflected in the borrower’s track record in meeting credit and other payment obli...
Read MoreLoans written-off from Balance Sheets of PSBs; As A result of Government’s 4R’s Strategy of Recognition, Resolution, Re-capitalisation and Reforms, NPAs of Nationalised Banks have started declining ...
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 MoreNotification No. RBI/2019-20/46 DPSS (CO) RTGS No.364/04.04.016/2019-20 - (21/08/2019) - At present, the RTGS system is available for customer transactions from 8:00 am to 6:00 pm and for inter-bank transactions from 8:00 am to 7:45 pm. In order to increase the availability of the RTGS system, it has been decided to extend the operating hours of RTGS and commence operations for customer...
Read MoreRBI/2019-20/47 DPSS.CO.PD.No.447/02.14.003/2019-20 - (21/08/2019) - eeping in view the changing payment needs and the requirement to balance the safety and security of card transactions with customer convenience, it has been decided to permit processing of e-mandate on cards for recurring transactions (merchant payments) with AFA during e-mandate registration, modif...
Read MoreRBI/2019-20/44 A.P. (DIR Series) Circular No. 06 - (16/08/2019) - We advise that Sub-regulation (3) of Regulation 6 of the above Regulations, in terms of which a Company may accept deposits through issue of Commercial Paper (CP), has been reviewed vis-à-vis other Statutes/Regulations – notably Section 45 U(b) of RBI Act, 1934 describing CP as one of the Money M...
Read MoreNotification No. RBI/2019-20/43 DBR.IBD.BC.No.13/23.67.001/2019-20 - (16/08/2019) - Gold Monetisation Scheme, 2015- All deposits under the scheme shall be made at the Collection and Purity Testing Centre (CPTC) except in cases as prescribed by RBI. Reserve Bank of India RBI/2019-20/43 DBR.IBD.BC.No.13/23.67.001/2019-20 August 16, 2019 All Scheduled Commercial Banks (excluding Regio...
Read MoreRBI/2019-20/41 DPSS.CO.PD No. 377/02.10.002/2019-20 - (14/08/2019) - It is hereby clarified that transactions which fail on account of technical reasons like hardware, software, communication issues; non-availability of currency notes in the ATM; and other declines ascribable directly / wholly to the bank / service provider; invalid PIN / validations; etc., shall not...
Read MoreNotification No. RBI/2019-20/46 DPSS (CO) RTGS No.364/04.04.016/2019-20 - (21/08/2019) -
RBI/2019-20/47 DPSS.CO.PD.No.447/02.14.003/2019-20 - (21/08/2019) -
RBI/2019-20/44 A.P. (DIR Series) Circular No. 06 - (16/08/2019) -
Notification No. RBI/2019-20/43 DBR.IBD.BC.No.13/23.67.001/2019-20 - (16/08/2019) -
RBI/2019-20/41 DPSS.CO.PD No. 377/02.10.002/2019-20 - (14/08/2019) -
Press Release: 2019-2020/417 - (13/08/2019) -
RBI/2019-20/39 FIDD.CO.Plan.BC.7/04.09.01/2019-20 - (13/08/2019) -
RBI/2019-20/40 FIDD.CO.LBS.BC.No. 09/02.01.001/2019-20 - (13/08/2019) -
