RBI Notifications includes Notifications, Circulars, Guidelines, Press release issued by Reserve Bank of India & GOI Related to Banking and Fema Law.
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 issue concerns alternative settlement mechanisms for international trade. The framework allows INR-based transactions with fle...
Fema / RBI : The RBI maintained key policy rates unchanged, signaling confidence in economic stability and controlled inflation. The decision r...
Fema / RBI : The RBI clarifies which entities must file FLA returns and outlines the complete online filing process. The key takeaway is mandat...
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 contentions of the RBI that the dispute is between the Petitioner and Respondents is not acceptable since the dispute arises o...
Fema / RBI : Harsh Nitin Gokhale Vs Reserve Bank of India & Ors (Supreme Court) In the present case, writ petition file seeking relief to e...
Fema / RBI : Directorate of Enforcement Vs. Subhash Muljimal Gandhi ( Delhi HC)- that interest at the rate of 6% per annum under Rule 8 could ...
Fema / RBI : Ketan V. Parekh Vs. Special Director, Directorate of Enforcement and another (Supreme Court)- Ketan Parikh, Kartik Parikh and M/s....
Fema / RBI : Binod Kumar Versus State of Jharkhand & Others- In the impugned judgment, it is mentioned that the basic allegation is amassing of...
Fema / RBI : RBI issued revised draft directions to regulate recovery practices of banks, NBFCs, and other regulated entities. The framework pr...
Fema / RBI : RBI has released draft amendment directions for commercial and small finance banks to strengthen Pillar 3 disclosures under Basel ...
Fema / RBI : RBI has abolished the mandatory Investment Fluctuation Reserve requirement for commercial banks following changes in market risk a...
Fema / RBI : RBI has amended Investment Fluctuation Reserve norms for Small Finance Banks after identifying operational difficulties in maintai...
Fema / RBI : RBI has amended Investment Fluctuation Reserve norms for Payments Banks after identifying operational challenges in maintaining IF...
The Bank had announced in the Annual Policy 2010-11 that companies which have their assets predominantly as investments in shares for holding stake in group companies but not for trading, and also do not carry on any other financial activity, i.e., Core Investment Companies, (CICs), justifiably deserve a differential treatment in the regulatory prescription applicable to Non-Banking Financial Companies which are non-deposit taking and systemically important to this extent. Draft guidelines had been placed on the RBI website on April 21, 2010. The feedback received from the market participants have been considered and it has been decided to bring into effect the following regulatory framework for Core Investment Companies.
The Reserve Bank of India, in terms of Notification No. DNBS (MGC) 1 /CGM (PK)- 2008, dated January 15, 2008, issued in terms of section 45-I(f)(iii) of the Reserve Bank of India Act, 1934 (2 of 1934) and on being satisfied that it is necessary so to do, in exercise of the powers conferred under section 45L(1)(b) of the said Act, 1934 (2 of 1934) and of all the powers enabling it in this behalf, hereby issues these guidelines for compliance of the same by every non-banking financial company undertaking the business of Mortgage Guarantee as defined herein.
RBI’s Master Circular dated 1-7-2011 on Miscellaneous Instructions to All Non-Banking Financial Companies It was decided to introduce an ALM System for the Non-Banking Financial Companies (NBFCs), as part of their overall system for effective risk management in their various portfolios. The abovementioned guidelines would be applicable to all the NBFCs irrespective of whether they are accepting/holding public deposits or not. However to begin with, NBFCs (engaged in and classified as equipment leasing, hire purchase finance, loan, investment and residuary non-banking companies) meeting the criteria of asset base of Rs.100 crore (whether accepting/holding public deposits or not) or holding public deposits of Rs. 20 crore or more (irrespective of their asset size) as per their audited balance sheet as of 31st March, 2001 would be required to put in place the ALM System.
Please refer to our letter DBS.CO. FrMC BC No. 2/23.04.001/2009-10 dated July 01, 2010 forwarding therewith Master Circular on ‘Frauds – Classification & Reporting’. It may be noted that the Master Circular consolidates and updates all the instructions issued during the year since the date of the last Master Circular dated July 01, 2010. The Master Circular also incorporates instructions contained in certain clarifications issued by RBI to banks during the course of the year. The Master Circular has been updated as on June 30, 2011 and has been placed on the web-site of the Reserve Bank of India (www.rbi.org.in).
Please refer to the Master Circular DBOD.BP.BC.No.3/21.04.018/2010-11 dated July 1, 2010 consolidating all operative instructions issued to banks till June 30, 2010 on matters relating to disclosures in the ‘Notes to Accounts’ to the Financial Statements. The Master Circular has now been suitably updated by incorporating instructions issued upto June 30, 2011. The Master Circular has also been placed on the RBI web-site (http://www.rbi.org.in).
The guidelines for issue of new FFMC licence and renewal of FFMC licence, branch licensing, approval for appointment of agents/franchisees and Know Your Customer (KYC)/Anti Money Laundering (AML)/Combating the Financing of Terrorism (CFT) Guidelines for Authorised Persons are given below. These guidelines are indicative and the Reserve Bank may take into account other relevant factors like increase in outreach, location, etc. while considering applications for licences.
Please refer to our letter DBS. FrMC. BC. No.1 /23.04.001/2010-11 dated July 01, 2010 forwarding the Master Circular on ‘Frauds – Classification and Reporting’. It may be noted that the Master Circular consolidates and updates all the instructions issued during the year since the date of the last Master Circular dated July 1, 2010. The Master Circular also incorporates instructions contained in certain clarifications issued by RBI to banks during the course of the year. The Master Circular has been updated as on June 30, 2011 and has been placed on the web-site of the Reserve Bank of India (www.rbi.org.in).
In view of announcement in the Monetary Policy Statement, the Reserve Bank of India hereby notifies these guidelines, framed under section 9(a) of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (SARFAESI Act) to provide for the proper management of the business of the borrower to enable the Securitisation Company or Reconstruction Company (SC/RC) to realise their dues from the borrowers, by effecting change in or take over of the management of the business of the borrower and related matters.
Foreign Exchange Derivative Contracts, Overseas Commodity & Freight Hedging, Rupee Accounts of Non-Resident Banks, Inter-Bank Foreign Exchange Dealings, etc. are governed by the provisions in Notification No. FEMA 1/2000-RB, Regulation 4(2) of Notification No. FEMA 3/RB-2000 and Notification No. FEMA 25/RB-2000 dated May 3, 2000 and subsequent amendments thereto. This Master Circular consolidates the existing instructions on the subject of Risk Management and Inter-Bank Dealings at one place. The list of underlying circulars/notifications is set out in Appendix.
Direct investments by residents in Joint Venture (JV) and Wholly Owned Subsidiary (WOS) abroad are being allowed, in terms of clause (a) of sub-section (3) of section 6 of the Foreign Exchange Management Act, 1999 (42 of 1999) read with FEMA Notification 120/RB-2004 dated July 7, 2004, (GSR 757(E) dated November 19, 2004), viz. Foreign Exchange Management (Transfer or Issue of any Foreign Security) Regulations, 2004, as amended from time to time.
