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Checklist for documents to be submitted at concerned authorities for FDI approval 1. Certificate of Incorporation of the Investee & Investor Companies/Entities* (Investee company may be a proposed entity and may not be incorporated) 2. Memorandum of Association (MOA) of the Investee & Investor Companies/Entities* 3. Board Resoluti...

Submission of annual return on FLA through the web-based FLAIR portal for financial year 2019-20 has been started. Entities which are filing FLA return for the first time/ with revised UIN (Unique identification number) are required to register themselves first for generating login credentials and they can file FLA return. However, the en...

Government closely monitoring transmission of repo rate cut by the Banking Sector and recognise efforts of wealth creators in scripting India’s growth story : Finance Minister in a virtual meeting with PHD Chamber...

The Reserve Bank of India, in view of the Covid pandemic, realised the financial emergency and liquidity crunch in our economy due to lockdown, announced moratorium for all loans for a certain period. However, there is dispute about the chargeability of interest  by the Banks/ Financial Corporations on this extended period. The business ...

RBI 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...

RBI 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 […]...

We 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...

ICSI 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 ...

RBI announces second set of measures to preserve financial stability and help put money in the hands of the needy and disadvantaged States and UTs allowed to borrow more to manage COVID-19 Reverse Repo rate reduced from 4.0% to 3.75% Relief provided to NBFCs and Real Estate Sector We will cure and endure, India is […]...

Governor’s Statement, April 17, 2020 Today, humanity faces perhaps the trial of its time as COVID-19 grips the world in its deadly embrace. Everywhere, as also in India, the mission is to do whatever it takes to prevent epidemiological curve from steepening any further. Human spirit is ignited by the resolve to overcome the pandemic. [&...