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 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...
Fema / RBI : The issue was fragmented regulations on NRI debt investments. RBI consolidated and updated directions to streamline compliance und...
You might have read a lot on PMC bank debacle (including some of my articles on PMC Bank and DICGC) in the last couple of days. The communication to Governor RBI (I termed it as ‘an open letter’) write up and commentary will speak of the reality, the current state of affairs. The risk of losing […]
Key provisions of latest RBI Circular No. RBI/2018-19/203 DBR.No.BP.BC.45/21.04.048/2018-19 dated June 07, 2019 in relation to Resolution of stressed assets. 1. Identification and reporting of stress Lenders shall recognize incipient stress in loan accounts classifying such assets as special mention accounts (SMA) as following: SMA Sub-categories Principal or interest payment overdue SMA-0 1-30 days SMA-1 […]
Most of you may be reading, listening to the news on Punjab Maharashtra Co-operative Bank’s failure and would broadly be aware as to how a co-operative bank ranking number four in the Cooperative sector with apparently good balance sheet became almost become bankrupt, overnight. At this stage issue of accountability would be discussed for many […]
P2P Lenders Hope of an Increase in Lending Limit as RBI Awakens to Their Demands RBI’s demand for P2P lending platforms to provide authentic data has certainly aroused hope for positive change among stakeholders! Background The Association of NBFC Peer-to-Peer (P2P) Lending Platforms had written a letter to the RBI in July this year, bringing […]
RBI vide its order dated 23rd September, 2019 superseded the Board of Punjab and Maharashtra Cooperative Bank Ltd. Mumbai and Shri Jai Bhagwan Bhoria has been appointed as the Administrator of the bank by RBI with all the powers of the Board.
(i) This scheme may be called the Sovereign Gold Bond Scheme 2019-20. (ii) There will be a distinct Series (starting from Series V) for every tranche which will be indicated on the Bond issued to the investor. (iii) It shall come into force on the date of its publication in the Official Gazette.
Reserve Bank of India Draft Guidelines for ‘on tap’ Licensing of Small Finance Banks in the Private Sector September 13, 2019 I. Introduction The Reserve Bank had issued the Guidelines for Licensing of ‘Small Finance Banks‘ in the Private Sector on November 27, 2014. The process of licensing culminated in granting in-principle approval to ten […]
A small kid asked me whether he/she could set up a small finance bank and help his relatives living in a small village in Himachal Pradesh. To answer this question and being a retired senior executive from a nationalized bank who worked in the department dealing with financing small borrowers in late 1970s, I was […]
Reserve Bank Of India Date : Aug 07, 2019 Third Bi-monthly Monetary Policy Statement, 2019-20 Resolution of the Monetary Policy Committee (MPC) On the basis of an assessment of the current and evolving macroeconomic situation, the Monetary Policy Committee (MPC) at its meeting today decided to: reduce the policy repo rate under the liquidity adjustment facility […]
Reserve Bank of India The Monetary Policy Committee (MPC) met on 5th, 6th and 7th August, 2019 and deliberated over the evolving macroeconomic outlook, against the backdrop of recent developments and incoming data. Today, the MPC voted unanimously to reduce the policy repo rate and to maintain the accommodative stance of monetary policy. As set […]
