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 : The issue concerns regulatory burden on smaller NBFCs without systemic risk exposure. The RBI introduced exemption for such entiti...
Fema / RBI : The issue concerns delays in pension credit caused by banks. The guidelines mandate 8% interest compensation for such delays. The ...
Fema / RBI : Explains how ECBs allow Indian entities to borrow abroad while ensuring compliance with RBI rules. Key takeaway: growth is enabled...
Fema / RBI : The issue involved delayed recognition of credit losses under the earlier framework. RBI introduced ECL to ensure probability-base...
Fema / RBI : RBI clarified that the Digital Rupee is legal tender with features similar to physical cash. It enables secure, instant, and fee-f...
Fema / RBI : The amendment redefines revenue reserves by excluding provisions for liabilities and depreciation. This ensures clearer classifica...
Fema / RBI : RBI revises the definition of revenue reserves to exclude provisions and liabilities. The change enhances transparency and consist...
Fema / RBI : The Reserve Bank of India has removed a key provision from capital adequacy norms to ensure consistency with updated investment ru...
Fema / RBI : RBI introduces annual IFR assessment instead of continuous compliance for RRBs. The change reduces operational burden while mainta...
Fema / RBI : The Reserve Bank of India has proposed a clear 5% IFR requirement for rural co-operative banks’ current investments. This change...
Fema / RBI : The Court held that rejection of NBFC registration surrender solely due to meeting PBC was unsustainable without giving an opportu...
Fema / RBI : The issue was whether properties purchased using company funds could escape benami classification. The Tribunal held that unexplai...
Fema / RBI : The Tribunal ruled that transactions predating the alleged crime cannot be treated as proceeds of crime without a clear link. It s...
Fema / RBI : The issue was whether properties unconnected to crime could be attached under PMLA. The Tribunal held that equivalent value assets...
Fema / RBI : The Tribunal ruled that taxation of income does not negate its use in benami transactions. Even disclosed or assessed income can f...
Fema / RBI : The issue involved foreign investment limits in the insurance sector under FEMA regulations. The amendment allows up to 100% FDI u...
Fema / RBI : The issue involved foreign investment from countries sharing land borders with India. The amendment mandates Government approval f...
Fema / RBI : RBI sets new framework for agency commission, reporting, and monitoring of agency banks. Key takeaway: stricter compliance and sta...
Fema / RBI : RBI introduced new directions mandating prompt pension credit and adherence to government orders. The framework ensures efficiency...
Fema / RBI : NBFCs can retain or upgrade borrower accounts to standard upon resolution plan implementation. The amendment balances borrower rel...
On a review, it has been decided that the interest on balances in savings bank accounts would be calculated on a daily product basis with effect from April 1, 2010. Regional Rural Banks are advised to work out modalities to effect a smooth transition to the revised procedure.
The Securities and Exchange Board of India today asked all mutual fund companies to get their systems audited at least once in two years and submit the reports to the market regulator. Also for the financial years April 2008 to March 2010 the audit should be completed by September 2010, the regulator in a statement […]
NBFCs participating in IRF exchanges may submit the data in this regard half yearly, in the format enclosed, to the Regional office of the Department of Non-Banking Supervision in whose jurisdiction their company is registered, within a period of one month from the close of the half year.
The Government of India, vide communication No. 5(6)/2/2009- MSME POL dated June 12, 2009, has indicated the categorisation of activities under services under the Micro Small and Medium Enterprises Development (MSMED) Act, 2006.
Coming down heavily on shady operations of fraudulent multi-level marketing companies, Reserve Bank of India has alerted banks to be careful while opening accounts of the marketing/trading agencies. Many such firms pose as MLM agencies for consumer goods and services and manage to mobilise large amount of deposits from the unsuspecting public with promises of ridiculously […]
September 14, 2009 Restrictive practices while accepting bank notes It has come to the notice of the Reserve Bank of India that certain establishments are adopting restrictive practices such as not accepting notes of certain denominations or series etc. Reserve Bank of India, therefore considers it necessary to emphasise that all government/ semi-government offices, public/ […]
The Reserve Bank of India may, if it considers necessary for avoiding any hardship or for any other just and sufficient reason, exempt any NBFC or class of NBFCs, from all or any of the provisions of these Directions either generally or for any specified period, subject to such conditions as the Reserve Bank of India may impose.
In exercise of the powers conferred by Sections 21 and 35A of the Banking Regulation Act, 1949, the Reserve Bank of India, being satisfied that it is necessary and expedient in the public interest to do so, in continuation of directive UBD.BPD.Dir. (Exp) No. 1/ 13.05.000/2008- 09 dated June 11, 2009 hereby directs that interest subvention on export credit may be continued for a further period of six months i.e. from October 1, 2009 to March 31, 2010 to the same sectors and on the same terms and conditions.
It may be recalled that paragraph 2.1 in the Annex to the circular dated July 30, 2008 provided that in case of small and marginal farmers eligible for debt waiver, the amount eligible for waiver, pending receipt from the Government of India, may be transferred by the banks to a separate account named “Amount receivable from Government of India under Agricultural Debt Waiver Scheme 2008”, and the balance in this account should be reflected under the column ‘Advances’ of the Balance Sheet.
We advise that in a case which came up before the Hon’ble High Court of Judicature at Bombay, the Hon’ble Court observed that the bank granting finance to housing / development projects should insist on disclosure of the charge / or any other liability on the plot, in the brochure, pamphlets etc., which may be published by developer / owner inviting public at large to purchase flats and properties.
