RBI Circular Notification Press Release and Instructions issued by Reserve bank of India. News and Article on provisions, Rate changes, Policy changes and FAQ
Fema / RBI : Explore the potential impacts of RBI's proposed draft Import/Export framework on business operations and foreign trade in India....
Fema / RBI : Discover RBI's liberalized remittance rules for IFSCs under LRS, allowing all permissible transactions. Learn about IFSCs, LRS eli...
Fema / RBI : RBI new circular allows resident individuals to remit funds to IFSCs for all permissible LRS purposes, boosting financial services...
Fema / RBI : Explore NBFC Fair Practice Code under RBI Scale Based Regulations. Learn about guidelines, transparency, customer rights, and grie...
Fema / RBI : FLA return is annual return required to be submitted by following entities which have received FDI and/or made FDI abroad (i.e. ov...
Fema / RBI : Discover RBI's third global hackathon, 'HaRBInger 2024 - Innovation for Transformation,' aimed at enhancing India's financial land...
Fema / RBI : The ability for cardholders to determine their billing cycle signifies that credit cards are not merely tools for cashless transac...
Fema / RBI : Explore the comprehensive regulatory insights shared by Shri M. Rajeshwar Rao, Deputy Governor of the Reserve Bank of India, focus...
Fema / RBI : Explore how the Reserve Bank of India is fostering self-regulation through SROs, setting industry standards, and enhancing complia...
Fema / RBI : Explore FAQs on Credit Card Issuance, Activation, Usage, and Complaints. Understand rules, rights, and procedures in the Master Di...
Fema / RBI : RBI directs NBFCs to adhere to a Rs 20,000 cash loan disbursement limit, aiming to regulate cash transactions and enforce complian...
Fema / RBI : Lender Banks Required to Provide Audit Reports to Borrowers and Allow Representation Before Classifying Accounts as Fraud, Along w...
Fema / RBI : Lawyers empanelled by the banks to represent them in cases did not hold a civil post and thus the laws of reservation would not be...
Fema / RBI : Assessee-company was engaged in the business of providing unsecured short-term loans to its customers/borrowers in India via its D...
Fema / RBI : Delhi High Court granted the bail application in the extortion case concluding that merely because the petitioner has been alleged...
Fema / RBI : Discover the 2024 Master Directions from RBI detailing fraud risk management guidelines for NBFCs. Learn about governance, early w...
Fema / RBI : Explore RBI latest Master Directions on Fraud Risk Management in Urban Cooperative Banks (UCBs), State Cooperative Banks (StCBs), ...
Fema / RBI : Explore RBI's latest Master Directions on Fraud Risk Management for Banks & AIFIs. Learn about governance, early detection framewo...
Fema / RBI : The RBI has withdrawn several outdated circulars to streamline and simplify banking guidelines. Learn about the changes and their ...
Fema / RBI : Read about RBI's latest circular on Liberalised Remittance Scheme (LRS) allowing expanded remittances to IFSCs, implications, and ...
Andaman & Nicobar Islands, a Union Territory of India since 1956, is an archipelago of 572 islands (306 islands and 266 rocks) and has a geographic area of 8,249 square kilometre. Of these islands, only 38 have human habitation. The UT is bestowed with abundant green vegetation and marine wealth besides huge potential for culture fisheries. It covers the Indian subcontinent’s richest rain-forest and houses indigenous tribes of Negroid and Mongoloid origins. The diversified mangroves have been included in the World Wildlife Fund (WWF) Global 200 list of the world’s highest priority biodiversity ‘hot spots’. Furthermore, these islands are included in the UNESCO-designated Biosphere Reserve/Zone (Indo-Malayan Bio-geographic Zone).
Empirical research shows that better developed financial systems accelerate economic growth and shrink income inequality by disproportionately increasing the earnings of lower income families2 i.e. enabling growth with equity, which is so vital for our country. A well developed financial system will require sound legislative framework because, legislation is the foundation on which institutional frameworks stand. To be effective, legislation not only needs to be unambiguous and fair but also should be robust enough to address all the existing concerns while, at the same time, being flexible enough to accommodate the new needs on account of evolving environment.
The history of the Indian accounting profession can be traced back to the enactment of the Companies Act in 1857 that introduced for the first time the concept of preparing balance sheet on a voluntary basis by companies. We have come a long way since then and the ICAI, established in 1949 by an act of Parliament, is today the world’s second largest professional accounting body after the American Institute of Certified Public Accountants (AICPA), with over 180,000 members. Over the six decades of its existence, it has played a vital role in nation building through its services.
As you may perhaps be aware, the United Nations has declared the year 2012 as the International Year of Cooperatives and, to my mind, this is precisely what makes today’s Central Zone Cooperative Conference, both contextually and topically, very relevant and it will culminate, I am sure, in most desired outcomes going forward ! And it will be no exaggeration to say that India has been among the pioneering nations in the matter of genesis, and democratic evolution, of agricultural and rural co-operatives, truly informed, and inspired, by the tenets and principles of cooperation.
The Reserve Bank of India, RBI, has cautioned the public against falling prey to fictitious offers of cheap funds that are rampant in recent times. In a press statement at Guwahati, the RBI said, the fraudsters often lure the public in the form of lottery prize money through letters, e-mails, SMS etc. It said such fraudulent communications were even sent on fake letterheads of the Reserve Bank of India or other reputed organizations, purportedly signed by their top executives or senior officials.
UBD.BPD.(PCB)CIR No. 16/13.01.000/2011-12 . With a view to providing greater flexibility to banks in mobilising non-resident deposits and also in view of the prevailing market conditions, it has been decided to deregulate interest rates on Non-Resident (External) Rupee (NRE) Deposits and Ordinary Non-Resident (NRO) Deposit Accounts (the interest rates on term deposits under Ordinary Non-Resident (NRO) Accounts are already deregulated).
As you are aware, the period of maintenance of short position in G-Sec was extended beyond intraday to five trading days vide circular RBI/2006-07/243 dated January 31, 2007. In continuation, as announced in the Monetary Policy Statement 2011-12, it has been decided to extend the period of Short Sale from the existing five days to a maximum period of three months (including the day of trade), effective from February 1, 2012.
Leading Indian Bankers say, the recent volatility in Indian Rupee is a temporary phenomena and the currency will stabilize soon. They said there is no need to press the panic button. Addressing a Panel discussion in Dubai, the CEOs of Bank of Baroda from GCC region, Punjab National Bank, Corporation Bank and the State Bank of India in Dubai, said India’s growth story will continue in the long term despite early blues.
Please refer to paragraph 5.13.4 of our Master Circular No. DBOD.No.BP.BC.11/ 21.06.001/2010-11 dated July 1, 2011 on Prudential Guidelines on Capital Adequacy and Market Discipline – New Capital Adequacy Framework (NCAF), as per which capital market exposure will attract a 125 percent risk weight or risk weight warranted by external rating (or lack of it) of the counterparty, whichever is higher. However, in terms of paragraph 5.13.7 of the said circular, the investment in paid up equity of financial entities, which are specifically exempted from ‘capital market exposure’ (CME), shall be assigned a 100 percent risk weight.
A reference is invited to our circular No.DPSS.CO.CHD.No. 1832 / 04.07.05 / 2009-10 February 22, 2010 prescribing the new cheque standards “CTS-2010” and advising banks to be in readiness for rolling out the new standards at an early date. Further, Indian Banks Association (IBA) and National Payment Corporation of India (NPCI) were vested with the responsibility of coordinating and implementing the uniform cheque standard across the country by all participating banks.
