Fema / RBI : RBI plans to ease registration norms for low-risk NBFCs to reduce compliance burden. The move aims to encourage innovation while m...
CA, CS, CMA : CBDT corrected multiple ITR forms to fix structural and computational errors. The update ensures accurate tax reporting and reduce...
Fema / RBI : The issue concerns liability in unauthorised digital transactions. The ruling insight highlights that absence of a clear definitio...
Fema / RBI : The RBI maintained key policy rates unchanged, signaling confidence in economic stability and controlled inflation. The decision r...
CA, CS, CMA : The latest amendments aim to simplify compliance and promote investment while reducing penalties. The update signals a major shift...
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 failure to apply Clause 3(d) of the RBI Master Circular invalidated the wilful defaulter declaration. Non-Exec...
Corporate Law : The court held that Ombudsman’s finding of customer negligence was unsustainable and directed bank to refund disputed amount. Th...
Corporate Law : Court ruled that protections under the RBI Circular apply only to third-party breaches and cannot be invoked to recast personal tr...
Fema / RBI : Rajasthan High Court stays a ₹7 crore deposit for Tijaria Polypipes' OTS, directing Bank of India to comply with RBI circulars a...
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 : The RBI has consolidated all previous e-mandate guidelines into a single framework governing recurring digital payments. The key t...
Fema / RBI : The update prohibits most INR derivative contracts with related entities. Only specific transactions such as cancellations and non...
Fema / RBI : The issue involved restrictive branch approval requirements for NBFCs. RBI removed prior approval norms, allowing easier expansion...
Fema / RBI : The RBI proposes replacing the existing dual methodology with a single asset-based criterion for identifying NBFC-UL entities. The...
Fema / RBI : The discussion paper addresses increasing APP frauds and proposes preventive safeguards like transaction delays and authentication...
Foreign companies incorporating private limited company for executing a limited period contract in India and face lots of legal compliances from starting to closing of the company which wastes lots of time and recourses of the company. In order to make entry and exit easy for a foreign company who wants to execute a project […]
By publishing on July 16, 2021, Reserve Bank of India, had amply made it clear that The Reserve Bank’s communication policy follows the guiding principles of relevance, transparency, clarity, comprehensiveness and timeliness: it strives to continuously improve public understanding of developments in the multiple domains under its ambit. Let me give you the reference of […]
Now a day banks are asking its customers having CC /OD facility to close current accounts. This is as per the RBI Circular Dated 06.08.2020. As per this circular no bank shall open current accounts for customers who have availed credit facilities in the form of cash credit (CC)/ overdraft (OD) from the banking system […]
Inaugural address by Shri Shaktikanta Das, Governor, Reserve Bank of India delivered at the Economic Times Financial Inclusion Summit on Thursday, July 15, 2021 on the topic” Financial inclusion – past, present and future” is being analyzed in this article. Well positioned as one of the finest monetary theory practitioners and former bureaucrat, Shri Shaktikanta […]
RBI by release of its occasional research papers vide its communication dated June 11, 2021 analyses the role of regulatory bank capital in influencing credit flows and GDP growth with the following web release of ‘Macroeconomic Implifications of Bank Capital Regulations‘. Analyzing the study in a layman’s language, the following questions have been raised in […]
Can a bank offer different rates of interest, on non-bulk Fixed Deposits of the same tenure and size, under simple interest and compound interest plans? An attempt has been made in this article to examine the following: whether a bank can prescribe different rates of interest for the same tenure, for the same amount, on […]
The Foreign Exchange Management Act, 1999 (FEMA) is an act of the Parliament of India to consolidate and amend the laws relating to foreign exchange with the objective of facilitating external trade & payments and promoting the orderly development and maintenance of foreign exchange market in India. Section 15 of Foreign Exchange Management Act (FEMA), […]
Reserve Bank of India (RBI), based on discussion paper on ‘Governance in Commercial Banks in India’ in June, 2020 and feedback thereon, RBI has carried out a comprehensive review of Governance framework to address operative aspects. RBI has issued instructions in relation to the following aspects of board governance: -Chairman of Board -Board meetings -Board […]
The recent directions issued by RBI vide its communications dated June 25, 2021 settles the dust over the appointment of Managing Director (MD) / Whole-Time Director (WTD) in Primary (Urban) Co-operative Bank. Let me introduce you to their communication as under: https://taxguru.in/rbi/rbi-directions-appointment-md-wtd-primary-urban-co-op-banks.html With plethora of mis handling in Co-operative sector, the eagerly awaited instructions from […]
Fraud can be defined as, ‘a deliberate act of omission or commission by any person, which has been carried out in the course of a banking transaction or in the books of accounts maintained manually or under computer system in banks, thereby resulting into wrongful gain to any person for a temporary period with or without any monetary loss to the bank’.
